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Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent, recovering from a sharp fall last Friday.

Japan's Nikkei climbed 1.8 per cent to its highest level of the year so far, while Australia's main index rose 0.7 per cent.

Shanghai blue chips bounced 1.6 per cent.

But E-Mini futures for the S&amp;P 500 were flat as the trade was thinned by a holiday in US markets.

The Dow and the Nasdaq had boasted their eighth consecutive weekly gains on wagers the United States and China would hammer out an agreement resolving their protracted trade war.

The two sides will resume negotiations this week, with US President Donald Trump saying he may extend a March 1 deadline for a deal. Both reported progress in five days of talks in Beijing last week.

"That does not rule out a setback or two between now and the start of March," said analysts at CBA in a note.

"Even so, we still think that both sides have good reasons to want to get to an agreement. And, so motivated, it makes an agreement more likely than not."

There are also growing expectations of more reflationary policies from some of the world's more powerful central banks.

The need for stimulus was highlighted on Monday by data showing a sharp slide in Singapore exports and a big drop in foreign orders for Japanese machinery goods.

Beijing is already taking action with China's banks making the newest loans on record in January in an attempt to jumpstart sluggish investment.

Minutes of the Federal Reserve's last policy meeting are due on Wednesday and should provide more guidance on the likelihood or not for rate hikes this year. There is also talk the bank will keep a much larger balance sheet than previously planned.

"Given the range of speakers since the January meeting who support "patience," the Fed minutes should reiterate a dovish message overall," said analysts at TD Securities in a note.

A roll call of Fed officials is speaking at various events this week including a round table on Friday covering the future of its balance sheet.

EYEING THE ECB

The European Central Bank's Olli Rehn told a German newspaper on Sunday that recent data point to a weakening eurozone economy and interest rates would remain at the current level until monetary policy goals have been met.

That came amid much speculation the ECB would launch another round of Targeted Long-Term Refinancing Operations (TLTRO) to support bank lending.

The risk of an easy ECB saw the euro touch a three-month low on Friday before bouncing on dovish comments from Fed officials.

The single currency edged up to $1.1309 but was still within the $1.1213/1.1570 trading range that has held since mid-October. The dollar was steady on the yen at 110.53, having backed away from a two-month top of 111.12.

Sterling was a shade firmer at $1.2909 ahead of Brexit talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker this week.

All of which left the dollar at 96.811 on a basket of currencies, inching away from last week's top of 97.368.

In commodity markets, spot gold firmed 0.28 per cent to $1,324.70 per ounce.

Oil prices reached their highest for the year so far, buoyed by OPEC-led supply cuts and US sanctions on Iran and Venezuela.

US crude was last up 36 cents at $55.95 a barrel, while Brent crude futures rose 20 cents to $66.45.

Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks.

Asian share markets bounced broadly on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent, recovering from a sharp fall last Friday. Japan's Nikkei climbed 1.8 per cent to its highest level of the year so far, while Australia's main index rose 0.7 per cent. Shanghai blue chips bounced 1.6 per cent. But E-Mini futures for the S&P 500 were flat as the trade was thinned by a holiday in US markets. The Dow and the Nasdaq had boasted their eighth consecutive weekly gains on wagers the United States and China would hammer out an agreement resolving their protracted trade war. The two sides will resume negotiations this week, with US President Donald Trump saying he may extend a March 1 deadline for a deal. Both reported progress in five days of talks in Beijing last week. "That does not rule out a setback or two between now and the start of March," said analysts at CBA in a note. "Even so, we still think that both sides have good reasons to want to get to an agreement. And, so motivated, it makes an agreement more likely than not." There are also growing expectations of more reflationary policies from some of the world's more powerful central banks. The need for stimulus was highlighted on Monday by data showing a sharp slide in Singapore exports and a big drop in foreign orders for Japanese machinery goods. Beijing is already taking action with China's banks making the newest loans on record in January in an attempt to jumpstart sluggish investment. Minutes of the Federal Reserve's last policy meeting are due on Wednesday and should provide more guidance on the likelihood or not for rate hikes this year. There is also talk the bank will keep a much larger balance sheet than previously planned. "Given the range of speakers since the January meeting who support "patience," the Fed minutes should reiterate a dovish message overall," said analysts at TD Securities in a note. A roll call of Fed officials is speaking at various events this week including a round table on Friday covering the future of its balance sheet. EYEING THE ECB The European Central Bank's Olli Rehn told a German newspaper on Sunday that recent data point to a weakening eurozone economy and interest rates would remain at the current level until monetary policy goals have been met. That came amid much speculation the ECB would launch another round of Targeted Long-Term Refinancing Operations (TLTRO) to support bank lending. The risk of an easy ECB saw the euro touch a three-month low on Friday before bouncing on dovish comments from Fed officials. The single currency edged up to $1.1309 but was still within the $1.1213/1.1570 trading range that has held since mid-October. The dollar was steady on the yen at 110.53, having backed away from a two-month top of 111.12. Sterling was a shade firmer at $1.2909 ahead of Brexit talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker this week. All of which left the dollar at 96.811 on a basket of currencies, inching away from last week's top of 97.368. In commodity markets, spot gold firmed 0.28 per cent to $1,324.70 per ounce. Oil prices reached their highest for the year so far, buoyed by OPEC-led supply cuts and US sanctions on Iran and Venezuela. US crude was last up 36 cents at $55.95 a barrel, while Brent crude futures rose 20 cents to $66.45.

Asia markets dare to hope on trade talks, stimulus

Falling for the eighth straight session, the BSE Sensex plunged over 311 points Monday on heavy selling in banking, FMCG, IT, auto and pharma stocks amid sustained foreign fund outflows.

The 30-share index settled 310.51 points, or 0.87 per cent lower at 35,498.44. The broader NSE Nifty fell 83.45 points, or 0.78 per cent, to 10,640.95.

Banking shares weakened after Reserve Bank Governor Shaktikanta Das said he will meet heads of public and private sector banks this week to discuss the transmission of interest rate cuts to borrowers.

Earlier this month, the Reserve Bank cut the benchmark interest rate by 0.25 per cent to 6.25 per cent. However, only a handful of banks, including SBI, have reduced their rates, that too by just 0.05 per cent.

Top losers in the Sensex pack included TCS, Yes Bank, ITC, Sun Pharma, Reliance, Coal India, Asian Paints, SBI, Maruti, HUL, HCL Tech and ICICI Bank, falling up to 2.91 per cent.

ONGC, Tata Motors, Axis Bank, Vedanta, NTPC, IndusInd Bank and HDFC gained up to 1.48 per cent.

Sectorally, BSE bankex, auto, FMCG, healthcare, metal and tech indices fell up to 1.36 per cent.

Only telecom and realty ended in the green, rising up to 0.88 per cent. 
Broader indices ended lower, with the BSE Midcap and Smallcap falling up to 1.04 per cent.

The rupee, meanwhile, depreciated 21 paise to 71.44 against the US dollar (intra-day).

Brent crude futures were trading 0.15 per cent higher at USD 66.35 per barrel.

Meanwhile, foreign institutional investors sold shares worth a net Rs 966.43 crore on Friday, while domestic institutional investors were net buyers to the tune of Rs 853.25 crore, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong's Hang Seng rose 1.60 per cent, Japan's Nikkei rallied 1.82 per cent, Shanghai Composite Index jumped 2.68 per cent, while Korea's Kospi ended 0.67 per cent higher.

In the Eurozone, Frankfurt's DAX was down 0.27 per cent, Paris CAC 40 fell 0.06 per cent, and London's FTSE shed 0.27 per cent in early deals.

Falling for the eighth straight session, the BSE Sensex plunged over 311 points Monday on heavy selling in banking, FMCG, IT, auto and pharma stocks amid sustained foreign fund outflows.

Falling for the eighth straight session, the BSE Sensex plunged over 311 points Monday on heavy selling in banking, FMCG, IT, auto and pharma stocks amid sustained foreign fund outflows. The 30-share index settled 310.51 points, or 0.87 per cent lower at 35,498.44. The broader NSE Nifty fell 83.45 points, or 0.78 per cent, to 10,640.95. Banking shares weakened after Reserve Bank Governor Shaktikanta Das said he will meet heads of public and private sector banks this week to discuss the transmission of interest rate cuts to borrowers. Earlier this month, the Reserve Bank cut the benchmark interest rate by 0.25 per cent to 6.25 per cent. However, only a handful of banks, including SBI, have reduced their rates, that too by just 0.05 per cent. Top losers in the Sensex pack included TCS, Yes Bank, ITC, Sun Pharma, Reliance, Coal India, Asian Paints, SBI, Maruti, HUL, HCL Tech and ICICI Bank, falling up to 2.91 per cent. ONGC, Tata Motors, Axis Bank, Vedanta, NTPC, IndusInd Bank and HDFC gained up to 1.48 per cent. Sectorally, BSE bankex, auto, FMCG, healthcare, metal and tech indices fell up to 1.36 per cent. Only telecom and realty ended in the green, rising up to 0.88 per cent. Broader indices ended lower, with the BSE Midcap and Smallcap falling up to 1.04 per cent. The rupee, meanwhile, depreciated 21 paise to 71.44 against the US dollar (intra-day). Brent crude futures were trading 0.15 per cent higher at USD 66.35 per barrel. Meanwhile, foreign institutional investors sold shares worth a net Rs 966.43 crore on Friday, while domestic institutional investors were net buyers to the tune of Rs 853.25 crore, provisional data available with BSE showed. Elsewhere in Asia, Hong Kong's Hang Seng rose 1.60 per cent, Japan's Nikkei rallied 1.82 per cent, Shanghai Composite Index jumped 2.68 per cent, while Korea's Kospi ended 0.67 per cent higher. In the Eurozone, Frankfurt's DAX was down 0.27 per cent, Paris CAC 40 fell 0.06 per cent, and London's FTSE shed 0.27 per cent in early deals.

Sensex sinks 311 points; Nifty drops below 10,700-mark

Over 100 tech start-ups and innovators showcased their wide-ranging products and services to investors, industries and aspiring entrepreneurs at the first edition of Demo Day held at the IIT-Madras Research Park campus.&nbsp;

The innovations were aimed at enhancing existing technologies and developing better versions of existing ones in various fields such as manufacturing, electric vehicles, internet of things, agriculture technology, solar energy, healthcare, biotechnology and data sciences.&nbsp;

Speaking to WION Priya Mohan, a Senior member of the IIT Incubation cell team said, "incubation cell is open to all body. This is a technology business incubator that supports entrepreneurs who are looking to kickstart their ventures. We offer support services like office space, seed funding, mentoring, training and networking opportunities and connect to industry and potential collaborators.”&nbsp;

Any startup that wishes to scale up and obtain funding, can apply on the Incubation Cell Portal, after which screening and evaluation are done. Then the startup is provided seed funding from Rs. 5lakh to 50lakhs based on the requirements, she added.&nbsp;

We take you through some of the iconic exhibits and projects at the event:

1. Planys Technologies - Underwater Remotely Operated Vehicle (ROV) Can access a depth of 120m and also provide live camera feed to the control centre via a tether that provides power supply. The team has developed 6 vehicles to suit different requirements. This ROV was used to augment the efforts of the Indian Navy during the rescue operations in the Meghalaya Mine tragedy.&nbsp;

2. Neomotion Assistive - Customizable Wheelchair cum Scooter for the Physically challenged. (Prototype under testing) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Provides up to 30Kms range on a single charge with a top speed of 25Kmph. Meant to be used on typical Indian road conditions. The scooter can easily be detached from the wheelchair, hence allowing it to be used indoors as well.&nbsp;

3.Agnikul Cosmos - Affordable Rocket launches to Low Earth Orbit with payloads unto 100Kgs (Under technology demonstration and development stage) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

Uses certain 3-d Printed components for Engine parts. To be powered by Kerosene and liquid oxygen. 3-Stage rocket under development.&nbsp;

4. Merkel Haptic Systems - Mixed and virtual reality healthcare training simulators with Haptic feedback (Product developed and available). It recreates scenarios of medical emergencies and allows medical professionals and support staff to learn/practice complicated procedures.&nbsp;

Speaking to WION about the importance of such events, Ex-CEO of Cognizant said, “we want investors to chase ideas and young minds that are raring to go, rather than founders chasing investments. We have achieved that here in this Chennai demo day.”

Other projects that are under various phases of development and testing include, a device that could convert air into water and ice using a single compressor, Carbon Fibre 3-D printing solutions, Robots to inspect the integrity of industrial pipelines and drones that could enable delivery of goods weighing less than 6Kg.&nbsp;

Over 100 tech start-ups and innovators showcased their wide-ranging products and services to investors, industries and aspiring entrepreneurs at the first edition of Demo Day held at the IIT-Madras Research Park campus.

Over 100 tech start-ups and innovators showcased their wide-ranging products and services to investors, industries and aspiring entrepreneurs at the first edition of Demo Day held at the IIT-Madras Research Park campus. The innovations were aimed at enhancing existing technologies and developing better versions of existing ones in various fields such as manufacturing, electric vehicles, internet of things, agriculture technology, solar energy, healthcare, biotechnology and data sciences. Speaking to WION Priya Mohan, a Senior member of the IIT Incubation cell team said, "incubation cell is open to all body. This is a technology business incubator that supports entrepreneurs who are looking to kickstart their ventures. We offer support services like office space, seed funding, mentoring, training and networking opportunities and connect to industry and potential collaborators.” Any startup that wishes to scale up and obtain funding, can apply on the Incubation Cell Portal, after which screening and evaluation are done. Then the startup is provided seed funding from Rs. 5lakh to 50lakhs based on the requirements, she added. We take you through some of the iconic exhibits and projects at the event: 1. Planys Technologies - Underwater Remotely Operated Vehicle (ROV) Can access a depth of 120m and also provide live camera feed to the control centre via a tether that provides power supply. The team has developed 6 vehicles to suit different requirements. This ROV was used to augment the efforts of the Indian Navy during the rescue operations in the Meghalaya Mine tragedy. 2. Neomotion Assistive - Customizable Wheelchair cum Scooter for the Physically challenged. (Prototype under testing) Provides up to 30Kms range on a single charge with a top speed of 25Kmph. Meant to be used on typical Indian road conditions. The scooter can easily be detached from the wheelchair, hence allowing it to be used indoors as well. 3.Agnikul Cosmos - Affordable Rocket launches to Low Earth Orbit with payloads unto 100Kgs (Under technology demonstration and development stage) Uses certain 3-d Printed components for Engine parts. To be powered by Kerosene and liquid oxygen. 3-Stage rocket under development. 4. Merkel Haptic Systems - Mixed and virtual reality healthcare training simulators with Haptic feedback (Product developed and available). It recreates scenarios of medical emergencies and allows medical professionals and support staff to learn/practice complicated procedures. Speaking to WION about the importance of such events, Ex-CEO of Cognizant said, “we want investors to chase ideas and young minds that are raring to go, rather than founders chasing investments. We have achieved that here in this Chennai demo day.” Other projects that are under various phases of development and testing include, a device that could convert air into water and ice using a single compressor, Carbon Fibre 3-D printing solutions, Robots to inspect the integrity of industrial pipelines and drones that could enable delivery of goods weighing less than 6Kg.

Tech start-ups galore at IIT Madras research park demo day

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector.

The deal represents a major endorsement of Rivian's electric vehicle technology by the world's largest online retailer, which is looking for ways to boost the speed and reduce the cost of its deliveries.&nbsp;

Reuters reported on Tuesday that Amazon and General Motors Co (GM) were in talks to invest in Rivian. GM's talks with Rivian about investment are continuing and any deal would be announced at a later date, people familiar with the talks said on Friday.

Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said.

The Rivian deal comes as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it ramps up its mass-market Model 3 sedan.

Tesla CEO Elon Musk told investors in August that an electric pickup is ''probably my personal favourite for the next product'' from the company. But he has spoken only in general about a potential launch, saying that it would happen ''right after'' Tesla’s Model Y, which the company has targeted to start production in 2020.&nbsp;

Rivian unveiled its electric R1T pickup and R1S SUV for the first time at the Los Angeles Auto Show last November. But the company had piqued Amazon`s interest earlier, according to one of the sources.

Amazon CEO Jeff Bezos personally reached out to Rivian founder and CEO RJ Scaringe last summer to express interest in an investment, the source said. Since then Amazon has stepped up its investment in the car sector, participating in a $530 million funding round announced last week in self-driving car startup Aurora Innovation Inc.

Amazon is looking for deals that can speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of the delivery personnel. Last year, Mercedes said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors.

Amazon has sought to win customers inside the car as well. Working with BMW AG, Ford Motor Co and Toyota Motor Corp, Amazon has enabled its Alexa virtual assistant to be installed in new models so drivers can dictate what music they want to hear and what tasks they want it to perform, hands-free.

Rivian aspires to be the first to produce a mass-market electric pickup. It intends to begin selling its R1T by the end of 2020.

Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower centre of gravity.

He has also said the company plans to partner with outside firms to develop advanced self-driving technology, rather than try to do so on its own.

Rivian's existing financial backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank. 
&nbsp;

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector.

Amazon.com Inc said on Friday it would lead a $700 million investment in US electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant`s biggest bet on technologies with the potential to reshape the automotive sector. The deal represents a major endorsement of Rivian's electric vehicle technology by the world's largest online retailer, which is looking for ways to boost the speed and reduce the cost of its deliveries. Reuters reported on Tuesday that Amazon and General Motors Co (GM) were in talks to invest in Rivian. GM's talks with Rivian about investment are continuing and any deal would be announced at a later date, people familiar with the talks said on Friday. Rivian could ultimately be valued at between $3 billion and $4 billion, one of the sources said. The Rivian deal comes as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it ramps up its mass-market Model 3 sedan. Tesla CEO Elon Musk told investors in August that an electric pickup is ''probably my personal favourite for the next product'' from the company. But he has spoken only in general about a potential launch, saying that it would happen ''right after'' Tesla’s Model Y, which the company has targeted to start production in 2020. Rivian unveiled its electric R1T pickup and R1S SUV for the first time at the Los Angeles Auto Show last November. But the company had piqued Amazon`s interest earlier, according to one of the sources. Amazon CEO Jeff Bezos personally reached out to Rivian founder and CEO RJ Scaringe last summer to express interest in an investment, the source said. Since then Amazon has stepped up its investment in the car sector, participating in a $530 million funding round announced last week in self-driving car startup Aurora Innovation Inc. Amazon is looking for deals that can speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of the delivery personnel. Last year, Mercedes said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors. Amazon has sought to win customers inside the car as well. Working with BMW AG, Ford Motor Co and Toyota Motor Corp, Amazon has enabled its Alexa virtual assistant to be installed in new models so drivers can dictate what music they want to hear and what tasks they want it to perform, hands-free. Rivian aspires to be the first to produce a mass-market electric pickup. It intends to begin selling its R1T by the end of 2020. Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower centre of gravity. He has also said the company plans to partner with outside firms to develop advanced self-driving technology, rather than try to do so on its own. Rivian's existing financial backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank.

Amazon places big bet on aspiring Tesla rival Rivian

Asian stocks retreated Friday as concern grew over reports of an impasse in China-US trade talks in Beijing, and Wall Street was hit by weak US retail sales.

Bourses across the region posted losses as investors shrugged off news that US President Donald Trump would sign a massive spending bill to avert a government shutdown, while Chinese inflation eased more than expected.

Top US economic officials were due to meet President Xi Jinping in the Chinese capital as both sides aim to conclude trade talks with enough goodwill to extend a truce in their tariff war.

Trump's economic advisor Larry Kudlow said the talks were "covering all the ground" and "the vibe is good" though no decision had been taken on extending a March 1 deadline for tariff hikes.

But multiple reports said there had been little progress on thorny issues such as US demands that China cracks down on forced technology transfers and reduce subsidies that favour domestic companies.

The Wall Street Journal said China had offered to boost imports of US goods with promises of major purchases of semiconductors and other items, but that officials "remained deadlocked on a number of issues".

And Bloomberg News reported that the two sides had "failed to narrow the gap around structural reforms to China's economy that the US has requested".

Both cited anonymous sources.

Failure to resolve the dispute would initiate a sharp hike in US tariffs on $200 billion of Chinese goods which could slow the global economy.

Hong Kong shed 1.5 per cent, Tokyo dropped 1.2 per cent and Shanghai fell 0.7 per cent.

Seoul, Taipei, Wellington and Jakarta all posted losses too, though Sydney edged up.

Factory and consumer price inflation in China rose at a slower rate than expected in January, official data showed Friday.

The weak producer prices were "a concern since these are highly correlated with profit growth in the industry", Julian Evans-Pritchard of Capital Economics said in a research note.

Wall Street fell earlier after the Commerce Department reported US retail sales had dropped 1.2 per cent in December from the previous month, marking the largest month-to-month decrease since September 2009.

The report suggested American consumers had held back during a peak holiday shopping season that coincided with a plunge in the stock market.

The US Congress passed a spending bill to avert a government shutdown, and Trump has signalled he will sign it before a midnight Friday deadline.

But the positive news was offset as the American president alarmed lawmakers with a plan to declare a national emergency to fund his controversial wall on the Mexico border.

Meanwhile, oil continued to climb due to falling global output after the Organization of the Petroleum Exporting Countries cut output.

Asian stocks retreated Friday as concern grew over reports of an impasse in China-US trade talks in Beijing, and Wall Street was hit by weak US retail sales. Bourses across the region posted losses as investors shrugged off news that US President Donald Trump would sign a massive spending bill to avert a government shutdown, while Chinese inflation eased more than expected.

Asian stocks retreated Friday as concern grew over reports of an impasse in China-US trade talks in Beijing, and Wall Street was hit by weak US retail sales. Bourses across the region posted losses as investors shrugged off news that US President Donald Trump would sign a massive spending bill to avert a government shutdown, while Chinese inflation eased more than expected. Top US economic officials were due to meet President Xi Jinping in the Chinese capital as both sides aim to conclude trade talks with enough goodwill to extend a truce in their tariff war. Trump's economic advisor Larry Kudlow said the talks were "covering all the ground" and "the vibe is good" though no decision had been taken on extending a March 1 deadline for tariff hikes. But multiple reports said there had been little progress on thorny issues such as US demands that China cracks down on forced technology transfers and reduce subsidies that favour domestic companies. The Wall Street Journal said China had offered to boost imports of US goods with promises of major purchases of semiconductors and other items, but that officials "remained deadlocked on a number of issues". And Bloomberg News reported that the two sides had "failed to narrow the gap around structural reforms to China's economy that the US has requested". Both cited anonymous sources. Failure to resolve the dispute would initiate a sharp hike in US tariffs on $200 billion of Chinese goods which could slow the global economy. Hong Kong shed 1.5 per cent, Tokyo dropped 1.2 per cent and Shanghai fell 0.7 per cent. Seoul, Taipei, Wellington and Jakarta all posted losses too, though Sydney edged up. Factory and consumer price inflation in China rose at a slower rate than expected in January, official data showed Friday. The weak producer prices were "a concern since these are highly correlated with profit growth in the industry", Julian Evans-Pritchard of Capital Economics said in a research note. Wall Street fell earlier after the Commerce Department reported US retail sales had dropped 1.2 per cent in December from the previous month, marking the largest month-to-month decrease since September 2009. The report suggested American consumers had held back during a peak holiday shopping season that coincided with a plunge in the stock market. The US Congress passed a spending bill to avert a government shutdown, and Trump has signalled he will sign it before a midnight Friday deadline. But the positive news was offset as the American president alarmed lawmakers with a plan to declare a national emergency to fund his controversial wall on the Mexico border. Meanwhile, oil continued to climb due to falling global output after the Organization of the Petroleum Exporting Countries cut output.

Asian shares drop on trade talks fears, weak US retail

Benchmark indices reeled under selling pressure for the seventh straight session Friday as pharma, metal, auto and banking stocks led losses amid sustained foreign fund outflows and muted earnings season.

However, emergence of buying in power, energy and PSU stocks in the last one hour of the session and covering-up of short positions by speculators wiped off most losses.

The 30-share Sensex after slumping 365 points to hit a low of 35,510.97 intra-day, recouped most of the lost ground on fag-end buying, and finally settled with a modest fall of 67.27 points, or 0.19 per cent down at 35,808.95.

The index has now lost a lost over 1,165 points in seven sessions.

The broader NSE Nifty, after shuttling between 10,620.40 and 10,785.75, settled at 10,724.40 points, down by 21.65 points, or 0.20 per cent.

On a weekly basis, the BSE index dropped 737.53 points, or over 2 per cent; while NSE Nifty fell 219.20 points, or 2 per cent.

Top losers include Sun Pharma, Tata Steel, Vedanta, Hero MotoCorp, Bajaj Finance, SBI, Axis Bank, HDFC and Maruti, falling up to 3.94 per cent.

On the other hand, NTPC, PowerGrid, ONGC, RIL, L&amp;T, Bharti Airtel, Tata Motors and Coal India were among the gainers, rising up to 4.13 per cent.

A weak trend at other Asian bourses, tracking overnight losses at the US markets after US retail sales recorded its biggest drop since 2009, raising fresh doubts about the strength of the US economy, also weighed on market sentiment, brokers said.

Besides, investors remained cautious ahead of the outcome of the ongoing trade talks between the US and China.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 250.23 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,225.24 crore on Thursday, provisional data showed.

Rising global crude prices dented the rupee, which depreciated by another 28 paise to 71.44 against the dollar intra-day.

The Brent crude futures, the international benchmark, advanced to USD 65.10 per barrel, their highest level in nearly three months.&nbsp;

Benchmark indices reeled under selling pressure for the seventh straight session Friday as pharma, metal, auto and banking stocks led losses amid sustained foreign fund outflows and muted earnings season.

Benchmark indices reeled under selling pressure for the seventh straight session Friday as pharma, metal, auto and banking stocks led losses amid sustained foreign fund outflows and muted earnings season. However, emergence of buying in power, energy and PSU stocks in the last one hour of the session and covering-up of short positions by speculators wiped off most losses. The 30-share Sensex after slumping 365 points to hit a low of 35,510.97 intra-day, recouped most of the lost ground on fag-end buying, and finally settled with a modest fall of 67.27 points, or 0.19 per cent down at 35,808.95. The index has now lost a lost over 1,165 points in seven sessions. The broader NSE Nifty, after shuttling between 10,620.40 and 10,785.75, settled at 10,724.40 points, down by 21.65 points, or 0.20 per cent. On a weekly basis, the BSE index dropped 737.53 points, or over 2 per cent; while NSE Nifty fell 219.20 points, or 2 per cent. Top losers include Sun Pharma, Tata Steel, Vedanta, Hero MotoCorp, Bajaj Finance, SBI, Axis Bank, HDFC and Maruti, falling up to 3.94 per cent. On the other hand, NTPC, PowerGrid, ONGC, RIL, L&T, Bharti Airtel, Tata Motors and Coal India were among the gainers, rising up to 4.13 per cent. A weak trend at other Asian bourses, tracking overnight losses at the US markets after US retail sales recorded its biggest drop since 2009, raising fresh doubts about the strength of the US economy, also weighed on market sentiment, brokers said. Besides, investors remained cautious ahead of the outcome of the ongoing trade talks between the US and China. Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 250.23 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,225.24 crore on Thursday, provisional data showed. Rising global crude prices dented the rupee, which depreciated by another 28 paise to 71.44 against the dollar intra-day. The Brent crude futures, the international benchmark, advanced to USD 65.10 per barrel, their highest level in nearly three months.

Sensex ends 67 points lower; pharma, metal stocks crack

Inflation in Argentina rose to 49.3 per cent year-on-year in January, according to data released Thursday by the National Institute of Statistics and Census (INDEC), a figure that even surpasses the 2018 figure of 47.6 per cent, setting a new record since 1991.

In the first month of the year, the Consumer Price Index (CPI) rose by 2.9 per cent a month, an acceleration compared to the 2.6 per cent recorded in December, but far from last September's peak, when inflation hit 6.5 per cent after the strong devaluation of the Argentine currency which triggered a rise in prices.

In the cumulative year-on-year, the rise for goods was 52 per cent, and 44.8 per cent for services, while in the monthly comparison goods rose by 2.6 per cent and services by 3.5 per cent.

Seasonal product prices rose by 33.2 per cent year-on-year, core inflation (excluding more volatile prices such as fuel) by 49.9 per cent and regulated prices (such as electricity or transport) by 55.4 per cent.

Compared to December, seasonal products became 1.1 per cent more expensive in January, core inflation was 3 per cent and regulated prices rose 3.4 per cent.

By sector, the largest year-on-year price increases were for transport (67.3 per cent), communication (63.7 percent), other goods and services (55.1 percent), food and non-alcoholic beverages (53 percent), household equipment and maintenance (52.5 percent), health (51.9 percent), housing, water, electricity, gas and other fuels (48.7 percent) and recreation and culture (43.5 percent).

For restaurants and hotels, the CPI rose by 40.1 per cent, for clothing and footwear by 33.3 per cent, for education by 32.1 per cent and for alcoholic beverages and tobacco by 29,7 per cent.

By geographical areas, Cuyo, in the west of the country, registered an inflation of 51.6 percent, Patagonia, in the south, 51.3 percent, in the northeast, 49.9 percent, in the northwest, 49.7 percent, in the Pampas region, 49.1 percent and in Buenos Aires and its metropolitan area, 48.9 percent.

On Thursday morning, the Argentine government announced that it expects inflation of around 28 per cent for this year, a figure projected by private consulting firms, which the Central Bank then releases every month.

The Secretary of Economic Policy, Miguel Braun, said that the government expects that in the coming months the rise of prices will remain "between two and three points" and will begin to fall in the second half of the year.

Inflation in Argentina rose to 49.3 per cent year-on-year in January, according to data released Thursday by the National Institute of Statistics and Census (INDEC), a figure that even surpasses the 2018 figure of 47.

Inflation in Argentina rose to 49.3 per cent year-on-year in January, according to data released Thursday by the National Institute of Statistics and Census (INDEC), a figure that even surpasses the 2018 figure of 47.6 per cent, setting a new record since 1991. In the first month of the year, the Consumer Price Index (CPI) rose by 2.9 per cent a month, an acceleration compared to the 2.6 per cent recorded in December, but far from last September's peak, when inflation hit 6.5 per cent after the strong devaluation of the Argentine currency which triggered a rise in prices. In the cumulative year-on-year, the rise for goods was 52 per cent, and 44.8 per cent for services, while in the monthly comparison goods rose by 2.6 per cent and services by 3.5 per cent. Seasonal product prices rose by 33.2 per cent year-on-year, core inflation (excluding more volatile prices such as fuel) by 49.9 per cent and regulated prices (such as electricity or transport) by 55.4 per cent. Compared to December, seasonal products became 1.1 per cent more expensive in January, core inflation was 3 per cent and regulated prices rose 3.4 per cent. By sector, the largest year-on-year price increases were for transport (67.3 per cent), communication (63.7 percent), other goods and services (55.1 percent), food and non-alcoholic beverages (53 percent), household equipment and maintenance (52.5 percent), health (51.9 percent), housing, water, electricity, gas and other fuels (48.7 percent) and recreation and culture (43.5 percent). For restaurants and hotels, the CPI rose by 40.1 per cent, for clothing and footwear by 33.3 per cent, for education by 32.1 per cent and for alcoholic beverages and tobacco by 29,7 per cent. By geographical areas, Cuyo, in the west of the country, registered an inflation of 51.6 percent, Patagonia, in the south, 51.3 percent, in the northeast, 49.9 percent, in the northwest, 49.7 percent, in the Pampas region, 49.1 percent and in Buenos Aires and its metropolitan area, 48.9 percent. On Thursday morning, the Argentine government announced that it expects inflation of around 28 per cent for this year, a figure projected by private consulting firms, which the Central Bank then releases every month. The Secretary of Economic Policy, Miguel Braun, said that the government expects that in the coming months the rise of prices will remain "between two and three points" and will begin to fall in the second half of the year.

Argentina records yearly inflation of 49.3%, highest since 1991

United States Commerce Secretary Wilbur Ross who was to be in Delhi on Thursday for the India-US Commercial Dialogue &amp; CEO Forum will not be coming.

"Due to inclement weather, technical problems that led to the cancellation of his flight, and other logistical issues, Secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person," a statement from the US Department of Commerce said.&nbsp;

US Ambassador to India Kenneth Juster will now lead the US side. Ross will participate in both meetings via video conference.&nbsp;

The Indian side will be led by Commerce Minister Suresh Prabhu.&nbsp;

The India US-CEO forum was established in 2005.&nbsp;

Bilateral trade between India and the US rose to about $140 billion in 2018 from $126 billion in 2017. US exports to India are growing around two-and-a-half times faster than Indian exports to the US.&nbsp;

Private Indian airlines have placed orders for around 300 Boeing aircraft which will be delivered over the next five to seven years. The orders are for around $39 billion and will create 130,000 American jobs. India has also started the import of US crude and natural gas worth $4.5 billion every year. Since 2008, the US has bagged more than $18 billion in arms contracts with India.&nbsp;

The dialogue takes place this year even as US President Donald Trump has been raising the issue of high tariffs by India; he has even called India "Tariff king".&nbsp;

Last month he touted how his call to India had helped bring down tariffs in "two minutes".&nbsp;

The dialogue will also take place against the backdrop of reports suggesting the US government is contemplating withdrawal of the Generalised System of Preference (GSP) to Indian exporters.&nbsp;

Industry body CII has cautioned against any such action.&nbsp;

"GSP boosts the competitiveness of American manufacturers by lowering their costs &amp; approximately two-thirds of U.S. imports under GSP are raw materials, components, or machinery and equipment used by U.S. companies to manufacture goods in the United States for domestic consumption or for export," it said in a statement.&nbsp;

United States Commerce Secretary Wilbur Ross who was to be in Delhi on Thursday for the India-US Commercial Dialogue & CEO Forum will not be coming. "Due to inclement weather, technical problems that led to the cancellation of his flight, and other logistical issues, Secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person," a statement from the US Department of Commerce said.

United States Commerce Secretary Wilbur Ross who was to be in Delhi on Thursday for the India-US Commercial Dialogue & CEO Forum will not be coming. "Due to inclement weather, technical problems that led to the cancellation of his flight, and other logistical issues, Secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person," a statement from the US Department of Commerce said. US Ambassador to India Kenneth Juster will now lead the US side. Ross will participate in both meetings via video conference. The Indian side will be led by Commerce Minister Suresh Prabhu. The India US-CEO forum was established in 2005. Bilateral trade between India and the US rose to about $140 billion in 2018 from $126 billion in 2017. US exports to India are growing around two-and-a-half times faster than Indian exports to the US. Private Indian airlines have placed orders for around 300 Boeing aircraft which will be delivered over the next five to seven years. The orders are for around $39 billion and will create 130,000 American jobs. India has also started the import of US crude and natural gas worth $4.5 billion every year. Since 2008, the US has bagged more than $18 billion in arms contracts with India. The dialogue takes place this year even as US President Donald Trump has been raising the issue of high tariffs by India; he has even called India "Tariff king". Last month he touted how his call to India had helped bring down tariffs in "two minutes". The dialogue will also take place against the backdrop of reports suggesting the US government is contemplating withdrawal of the Generalised System of Preference (GSP) to Indian exporters. Industry body CII has cautioned against any such action. "GSP boosts the competitiveness of American manufacturers by lowering their costs & approximately two-thirds of U.S. imports under GSP are raw materials, components, or machinery and equipment used by U.S. companies to manufacture goods in the United States for domestic consumption or for export," it said in a statement.

India-US Commercial Dialogue: US Commerce Secretary Wilbur Ross not coming, will address talk via videoconference

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare <a href="http://www.wionews.com/business-economy/us-and-india-hold-talks-to-calm-trade-tensions-197411">as part of a continuing commercial dialogue</a>, officials from both governments said on Thursday.

They have set up seven working groups of chief executives with top US and Indian firms that will focus on financial trade and investments as well as bring together small and medium enterprises (SME) from the two countries.

"The working groups have been formed among the CEOs. They will be providing recommendations to the government," Kenneth Juster, US Ambassador to India, told reporters at a briefing on the sidelines of the talks.

India and the United States have developed close political and security ties. But bilateral trade, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential.

"We resolved to facilitate two-way trade and investment to build on such growth," Indian Trade Minister Suresh Prabhu said in a tweet.

Executives participating in the discussions included Tata chairman N. Chandrasekaran and American Tower CEO James Taiclet, an Indian government statement said.

US and Indian officials pressed on with talks on Thursday to resolve differences over trade and investment, Indian government sources said, after U.S. Commerce Secretary Wilbur Ross called off his visit because of bad weather at home.

Ross addressed the forum in Delhi through teleconference after his flight was cancelled, a government statement said.

Chief executives of top U.S. and Indian firms raised the issue of data localisation, Juster said, but it was not directly addressed by Indian and U.S. government officials, rather left to private discussions being held separately.

Last year India announced proposals to force foreign companies to store more of their user data locally so as to make it accessible to any legal investigations.

US&nbsp;lobby groups voiced doubts, saying this made it difficult for firms to do business in India.

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare as part of a continuing commercial dialogue, officials from both governments said on Thursday.

The United States and India plan to boost bilateral trade in energy, aerospace, defence, pharmaceuticals and healthcare as part of a continuing commercial dialogue, officials from both governments said on Thursday. They have set up seven working groups of chief executives with top US and Indian firms that will focus on financial trade and investments as well as bring together small and medium enterprises (SME) from the two countries. "The working groups have been formed among the CEOs. They will be providing recommendations to the government," Kenneth Juster, US Ambassador to India, told reporters at a briefing on the sidelines of the talks. India and the United States have developed close political and security ties. But bilateral trade, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential. "We resolved to facilitate two-way trade and investment to build on such growth," Indian Trade Minister Suresh Prabhu said in a tweet. Executives participating in the discussions included Tata chairman N. Chandrasekaran and American Tower CEO James Taiclet, an Indian government statement said. US and Indian officials pressed on with talks on Thursday to resolve differences over trade and investment, Indian government sources said, after U.S. Commerce Secretary Wilbur Ross called off his visit because of bad weather at home. Ross addressed the forum in Delhi through teleconference after his flight was cancelled, a government statement said. Chief executives of top U.S. and Indian firms raised the issue of data localisation, Juster said, but it was not directly addressed by Indian and U.S. government officials, rather left to private discussions being held separately. Last year India announced proposals to force foreign companies to store more of their user data locally so as to make it accessible to any legal investigations. US lobby groups voiced doubts, saying this made it difficult for firms to do business in India.

After commercial dialogue, India & US say they plan to boost trade

The BSE <a href="http://www.wionews.com/business-economy/sensex-drops-241-points-ahead-of-macro-data-releases-bank-it-stocks-crack-197158">Sensex fell </a>over 100 points in early trade Thursday on heavy foreign fund outflows amid rising global crude prices and a subdued trend at other Asian bourses.

The 30-share barometer, which had lost 840 points in the previous five sessions, was trading 120.01 points, or 0.33 per cent, lower at 35,914.10.

On similar lines, the NSE Nifty was down 40.95 points, or 0.38 per cent, at 10,752.70 points.

Traders said sentiment remained bearish on continued withdrawal of funds by foreign institutional investors and surging crude prices overseas.&nbsp;

Foreign portfolio investors sold shares worth a net Rs 676.63 crore, while domestic institutional investors bought shares worth a net Rs 713.10 crore Wednesday, provisional data showed.&nbsp;

In morning session on Sensex, the laggards that dragged the key indices down were Bharti Airtel, Coal India, NTPC, Kotak Bank, HUL, Bajaj Finance, RIL, PowerGrid, HDFC Bank, Infosys, HCL Tech, Asian Paint, ONGC, TCS, SBI, M&amp;M, HDFC, Tata Steel and IndusInd Bank, falling up to 2.48 per cent.

However, Yes Bank rallied up to 20 per cent after the Reserve Bank of India (RBI) said it had not found any divergence in the asset classification and provisioning done by the lender during 2017-18.

RBI assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes.&nbsp;

Sectorally, oil and gas, realty, PSU, consumer durables, IT and metal indices led the losses, falling up to 1.44 per cent. &nbsp;

Meanwhile, the rupee depreciated 14 paise to 70.94 against the dollar. 
Brent crude futures were trading higher by 0.46 per cent at US $63.90 per barrel.

Stocks of state-run oil marketing companies such as IOC, BPCL and HPCL were down by up to 1.50 per cent.

A weak trend at other Asian markets too dented domestic trading sentiments, traders added.

Hong Kong's Hang Seng was down 0.50 per cent, Shanghai's Composite Index fell 0.32 per cent, Singapore's Straits Times shed 0.15 per cent and Korea's Kospi slipped 0.44 per cent. Japan's Nikkei, however, was a shade higher in late morning deals.

On Wall Street, the US Dow Jones Industrial Average ended 0.46 per cent higher in Wednesday's trade.&nbsp;

The BSE Sensex fell over 100 points in early trade Thursday on heavy foreign fund outflows amid rising global crude prices and a subdued trend at other Asian bourses.

The BSE Sensex fell over 100 points in early trade Thursday on heavy foreign fund outflows amid rising global crude prices and a subdued trend at other Asian bourses. The 30-share barometer, which had lost 840 points in the previous five sessions, was trading 120.01 points, or 0.33 per cent, lower at 35,914.10. On similar lines, the NSE Nifty was down 40.95 points, or 0.38 per cent, at 10,752.70 points. Traders said sentiment remained bearish on continued withdrawal of funds by foreign institutional investors and surging crude prices overseas. Foreign portfolio investors sold shares worth a net Rs 676.63 crore, while domestic institutional investors bought shares worth a net Rs 713.10 crore Wednesday, provisional data showed. In morning session on Sensex, the laggards that dragged the key indices down were Bharti Airtel, Coal India, NTPC, Kotak Bank, HUL, Bajaj Finance, RIL, PowerGrid, HDFC Bank, Infosys, HCL Tech, Asian Paint, ONGC, TCS, SBI, M&M, HDFC, Tata Steel and IndusInd Bank, falling up to 2.48 per cent. However, Yes Bank rallied up to 20 per cent after the Reserve Bank of India (RBI) said it had not found any divergence in the asset classification and provisioning done by the lender during 2017-18. RBI assesses compliance by banks with extant prudential norms on income recognition, asset classification and provisioning (IRACP) as part of its supervisory processes. Sectorally, oil and gas, realty, PSU, consumer durables, IT and metal indices led the losses, falling up to 1.44 per cent. Meanwhile, the rupee depreciated 14 paise to 70.94 against the dollar. Brent crude futures were trading higher by 0.46 per cent at US $63.90 per barrel. Stocks of state-run oil marketing companies such as IOC, BPCL and HPCL were down by up to 1.50 per cent. A weak trend at other Asian markets too dented domestic trading sentiments, traders added. Hong Kong's Hang Seng was down 0.50 per cent, Shanghai's Composite Index fell 0.32 per cent, Singapore's Straits Times shed 0.15 per cent and Korea's Kospi slipped 0.44 per cent. Japan's Nikkei, however, was a shade higher in late morning deals. On Wall Street, the US Dow Jones Industrial Average ended 0.46 per cent higher in Wednesday's trade.

Sensex drops over 100 points on weak global cues, foreign fund outflow

Continuing its fall for the sixth straight session Thursday, the benchmark BSE Sensex dropped 158 points led by losses in IT, metal and energy stocks amid sustained foreign fund outflow and lacklustre global cues.

The 30-share index, after shuttling between 35,799.42 and 36,109.10, finally settled 157.89 points, or 0.44 per cent, down at 35,876.22. It had lost 840 points in the previous five sessions.

The broader NSE Nifty lost 47.60 points, or 0.44 per cent, to end at 10,746.05. Intra-day, it shuttled between 10,718.75 and 10,792.70.

Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&amp;M, falling up to 3.09 per cent.

On the other hand, Yes Bank was the biggest gainer, rallying 30.73 per cent, after the company said that the RBI had not found any divergence in the asset classification and provisioning done by the lender during 2017-18.

Other gainers include, Tata Motors, Sun Pharma, IndusInd Bank, Bajaj Finance, ICICI Bank and Hero MotoCorp, rising up to 3.17 per cent.

Selling was more pronounced in oil and gas, IT, metal, PSU and state-run oil marketing company stocks that dragged the key indices into the negative territory.

Energy stocks cracked as fresh concerns about rising crude oil prices resurfaced, with Brent crude oil futures zooming 1.26 per cent, to USD 64.41 per barrel, after Saudi Arabia, world's top crude exporter, said it would cut crude exports and its production.

Shares of state-run oil marketing companies - IOC and BPCL - fell up to 4.19 per cent.

The broader markets outperformed key indices with the BSE mid-cap index rising 0.52 per cent, and the BSE small-cap gaining 0.17 per cent.

Sector-wise, the BSE oil and gas index emerged as the worst performer by losing 2.11 per cent, followed by IT down 1.28 per cent, teck (1.14 per cent), PSU (0.78 per cent), consumer durables (0.42 per cent) and FMCG (0.06 per cent).

While, bankex, auto, capital goods, healthcare, realty, infrastructure and power indices managed to end in the green, rising up to 0.78 per cent.

Sustained foreign fund outflow and fresh weakness in the rupee against the dollar also impacted domestic market sentiments, brokers said.

Foreign portfolio investors sold shares worth a net Rs 676.63 crore, while domestic institutional investors bought shares worth a net Rs 713.10 crore Wednesday, provisional data showed.

The market extended losses as investors continued to focus on domestic cues while assessing global developments, said Vinod Nair, Head of Research, Geojit Financial Services.

Moderation in Wholesale Price Index (WPI) in January provides an insight about the slowdown in the economy and earnings growth, he added.

Inflation based on wholesale prices fell to a 10-month low of 2.76 per cent in January over the previous month on softening prices of fuel and some food items, according to government data released earlier in the day.

The WPI-based inflation stood at 3.8 per cent in December 2018, and 3.02 per cent in January 2018.

Mixed leads from most other Asian bourses also accelerated the selling pace, but a higher opening of European shares helped trim losses to some extent.

Japan's Nikkei fell 0.02 per cent, Shanghai Composite was down 0.05 per cent, and Hong Kong's Hang Seng shed 0.21 per cent. Taiwan was also down 0.02 per cent; while Korea's Kospi rose 1.11 per cent and Singapore Straits Times gained 0.06 per cent.

In Europe, Paris CAC 40 rose 0.66 per cent and Frankfurt's DAX gained 0.48 per cent in their early session. London's FTSE was up 0.16 per cent.

Continuing its fall for the sixth straight session Thursday, the benchmark BSE Sensex dropped 158 points led by losses in IT, metal and energy stocks amid sustained foreign fund outflow and lacklustre global cues.

Continuing its fall for the sixth straight session Thursday, the benchmark BSE Sensex dropped 158 points led by losses in IT, metal and energy stocks amid sustained foreign fund outflow and lacklustre global cues. The 30-share index, after shuttling between 35,799.42 and 36,109.10, finally settled 157.89 points, or 0.44 per cent, down at 35,876.22. It had lost 840 points in the previous five sessions. The broader NSE Nifty lost 47.60 points, or 0.44 per cent, to end at 10,746.05. Intra-day, it shuttled between 10,718.75 and 10,792.70. Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent. On the other hand, Yes Bank was the biggest gainer, rallying 30.73 per cent, after the company said that the RBI had not found any divergence in the asset classification and provisioning done by the lender during 2017-18. Other gainers include, Tata Motors, Sun Pharma, IndusInd Bank, Bajaj Finance, ICICI Bank and Hero MotoCorp, rising up to 3.17 per cent. Selling was more pronounced in oil and gas, IT, metal, PSU and state-run oil marketing company stocks that dragged the key indices into the negative territory. Energy stocks cracked as fresh concerns about rising crude oil prices resurfaced, with Brent crude oil futures zooming 1.26 per cent, to USD 64.41 per barrel, after Saudi Arabia, world's top crude exporter, said it would cut crude exports and its production. Shares of state-run oil marketing companies - IOC and BPCL - fell up to 4.19 per cent. The broader markets outperformed key indices with the BSE mid-cap index rising 0.52 per cent, and the BSE small-cap gaining 0.17 per cent. Sector-wise, the BSE oil and gas index emerged as the worst performer by losing 2.11 per cent, followed by IT down 1.28 per cent, teck (1.14 per cent), PSU (0.78 per cent), consumer durables (0.42 per cent) and FMCG (0.06 per cent). While, bankex, auto, capital goods, healthcare, realty, infrastructure and power indices managed to end in the green, rising up to 0.78 per cent. Sustained foreign fund outflow and fresh weakness in the rupee against the dollar also impacted domestic market sentiments, brokers said. Foreign portfolio investors sold shares worth a net Rs 676.63 crore, while domestic institutional investors bought shares worth a net Rs 713.10 crore Wednesday, provisional data showed. The market extended losses as investors continued to focus on domestic cues while assessing global developments, said Vinod Nair, Head of Research, Geojit Financial Services. Moderation in Wholesale Price Index (WPI) in January provides an insight about the slowdown in the economy and earnings growth, he added. Inflation based on wholesale prices fell to a 10-month low of 2.76 per cent in January over the previous month on softening prices of fuel and some food items, according to government data released earlier in the day. The WPI-based inflation stood at 3.8 per cent in December 2018, and 3.02 per cent in January 2018. Mixed leads from most other Asian bourses also accelerated the selling pace, but a higher opening of European shares helped trim losses to some extent. Japan's Nikkei fell 0.02 per cent, Shanghai Composite was down 0.05 per cent, and Hong Kong's Hang Seng shed 0.21 per cent. Taiwan was also down 0.02 per cent; while Korea's Kospi rose 1.11 per cent and Singapore Straits Times gained 0.06 per cent. In Europe, Paris CAC 40 rose 0.66 per cent and Frankfurt's DAX gained 0.48 per cent in their early session. London's FTSE was up 0.16 per cent.

Sensex, Nifty fall for 6th straight session; Yes Bank zooms 31%

US and Indian government officials pressed on with talks on Thursday to resolve their differences over trade and investment, Indian government sources said, even though <a href="http://www.wionews.com/business-economy/india-us-commercial-dialogue-us-commerce-secretary-wilbur-ross-not-coming-197245">US Commerce Secretary Wilbur Ross called off his visit because of bad weather</a> at home.

Ross addressed a US-India CEO Forum by video after his flight was cancelled and was due to similarly join the commercial dialogue later in the day with Indian Commerce Minister Suresh Prabhu, the sources said.

US ambassador to India Kenneth Juster is leading the delegation on the ground.

India and the United States are sparring over a range of issues, from India's new rules on e-ecommerce that affect firms such as Amazon and Walmart to data localisation and its tariffs that US President Donald Trump says are exceptionally high.

Washington has also had a longstanding grievance with India over its large trade deficit with the United States and what it sees as the Indian government's lax intellectual property enforcement.

A US trade delegation led by United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin began high-level talks with Chinese counterparts on Thursday to de-escalate a tariff war ahead of a March 1 deadline for a deal.

New Delhi defends the measures on e-commerce as a way to protect the interests of small businesses and says it has been cutting tariffs gradually to give local industry a level playing field and create jobs for a very large youth population.

Details of the discussions held on Thurdsay were not immediately available and officials said the two sides were likely to issue a joint statement later on Thursday.

The sources also said that trade negotiations would be conducted by the United States Trade Representative (USTR) and not by the Commerce Department, which is focused on boosting investment, improving the business climate and some specific areas such as travel and tourism.

Still, the two sides are expected to touch on the thorny issues that have cropped up in recent months and pledge efforts to address them. "It will be a friendly discussion, they would avoid the risk of disappointment," said a source with knowledge of the matter.

The meeting comes at a time when the USTR is reviewing India's eligibility as a beneficiary of its Generalised System of Preferences (GSP) under which the country has enjoyed zero tariffs for about 2,000 goods exported to the United States that are worth $5.6 billion.

Reuters reported last week that the USTR is considering withdrawal or scaling back of these tariffs because of the lack of reciprocity from India on its tariffs, its tightening curbs on online sales and its insistence that foreign payment card companies, such as Mastercard and Visa, store data in India.

US and Indian government officials pressed on with talks on Thursday to resolve their differences over trade and investment, Indian government sources said, even though US Commerce Secretary Wilbur Ross called off his visit because of bad weather at home.

US and Indian government officials pressed on with talks on Thursday to resolve their differences over trade and investment, Indian government sources said, even though US Commerce Secretary Wilbur Ross called off his visit because of bad weather at home. Ross addressed a US-India CEO Forum by video after his flight was cancelled and was due to similarly join the commercial dialogue later in the day with Indian Commerce Minister Suresh Prabhu, the sources said. US ambassador to India Kenneth Juster is leading the delegation on the ground. India and the United States are sparring over a range of issues, from India's new rules on e-ecommerce that affect firms such as Amazon and Walmart to data localisation and its tariffs that US President Donald Trump says are exceptionally high. Washington has also had a longstanding grievance with India over its large trade deficit with the United States and what it sees as the Indian government's lax intellectual property enforcement. A US trade delegation led by United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin began high-level talks with Chinese counterparts on Thursday to de-escalate a tariff war ahead of a March 1 deadline for a deal. New Delhi defends the measures on e-commerce as a way to protect the interests of small businesses and says it has been cutting tariffs gradually to give local industry a level playing field and create jobs for a very large youth population. Details of the discussions held on Thurdsay were not immediately available and officials said the two sides were likely to issue a joint statement later on Thursday. The sources also said that trade negotiations would be conducted by the United States Trade Representative (USTR) and not by the Commerce Department, which is focused on boosting investment, improving the business climate and some specific areas such as travel and tourism. Still, the two sides are expected to touch on the thorny issues that have cropped up in recent months and pledge efforts to address them. "It will be a friendly discussion, they would avoid the risk of disappointment," said a source with knowledge of the matter. The meeting comes at a time when the USTR is reviewing India's eligibility as a beneficiary of its Generalised System of Preferences (GSP) under which the country has enjoyed zero tariffs for about 2,000 goods exported to the United States that are worth $5.6 billion. Reuters reported last week that the USTR is considering withdrawal or scaling back of these tariffs because of the lack of reciprocity from India on its tariffs, its tightening curbs on online sales and its insistence that foreign payment card companies, such as Mastercard and Visa, store data in India.

US and India hold talks to calm trade tensions

India's annual wholesale price inflation eased to a 10-month low of 2.76 per cent in January, helped by a smaller increase in prices of manufactured goods and fuel products, government data showed on Thursday.

Annual wholesale price inflation last month was lower than a provisional 3.80 per cent rise in December, and below a 3.65 per cent increase forecast by economists in a Reuters poll.

Wholesale food prices in January rose 1.84 per cent year-on-year, compared with a 0.07 per cent rise a month earlier, data showed.

India's annual wholesale price inflation eased to a 10-month low of 2.76 per cent in January, helped by a smaller increase in prices of manufactured goods and fuel products, government data showed on Thursday.

India's annual wholesale price inflation eased to a 10-month low of 2.76 per cent in January, helped by a smaller increase in prices of manufactured goods and fuel products, government data showed on Thursday. Annual wholesale price inflation last month was lower than a provisional 3.80 per cent rise in December, and below a 3.65 per cent increase forecast by economists in a Reuters poll. Wholesale food prices in January rose 1.84 per cent year-on-year, compared with a 0.07 per cent rise a month earlier, data showed.

January wholesale inflation eases to 10-month low of 2.76 per cent

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January.

The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee's up move.

Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said.

Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.

The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain.

In the last six trading sessions, the rupee has gained 110 paise.

The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at 36,338.30.

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January.

The rupee appreciated by another 26 paise to 70.44 against the US dollar in opening trade Wednesday after retail inflation fell to a 19-month low of 2.05 per cent in January. The weakness in the dollar against some currencies overseas as investors shifted their focus to riskier asset amid the US-China trade truce hopes, also supported the rupee's up move. Besides, retail inflation falling to a 19-month low of 2.05 per cent in January over the previous month, and selling of the American currency by exporters supported the rupee, forex dealers said. Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. The rupee had gained 48 paise to end at a one-month high of 70.70 against the US dollar Tuesday, registering its sixth straight session of gain. In the last six trading sessions, the rupee has gained 110 paise. The benchmark BSE Sensex rose 184.68 points, or 0.51 per cent, to trade at 36,338.30.

Rupee gains 26 paise against US dollar in opening trade

The benchmark Sensex gained over 150 points in early trade Wednesday, snapping its four-session losing streak, on the back of positive macroeconomic data and better-than-expected earnings by some bluechip companies, amid positive global cues.

The 30-share barometer was trading higher by 169.36 points, or 0.47 per cent, at 36,322.97. The gauge had lost over 720 points in the previous four days.

The NSE Nifty too climbed 29.20 points, to 10,860.60.

Barring teck, all the sectoral indices, led by realty, FMCG, power and bankex, gained up to 1.50 per cent.

Brokers said buying activity emerged on positive macroeconomic data as retail inflation fell to a 19-month low of 2.05 per cent in January over the previous month on continued decline in food prices.

Meanwhile, industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector.

Both sets of data were released by the Central Statistics Office (CSO) Tuesday after market hours.

"Given the current relatively low growth and inflation scenario coupled with high real interest rate situation, we expect the RBI to cut the policy rate by another 25 bps during the next policy meet," said Sujan Hajra, Chief Economist, Anand Rathi Financial Services, adding that the data releases are modestly positive for both the equity and debt market.

Sun Pharma emerged as the top gainers in the Sensex pack by surging 2.77 per cent after the drug major Tuesday reported nearly four-fold jump in its consolidated net profit at Rs 1,241.85 crore for the quarter ended on December 31, 2018.

Other big gainers were ITC, PowerGrid, HDFC, TCS, ONGC, HUL, NTPC, Kotak Bank, HDFC Bank, HUL, Coal India, Vedanta, Bajaj Finance, L&amp;T and Yes Bank, rising up to 2.60 per cent.

However, M&amp;M, Hero MotoCorp, HCL Tech, SBI, Infosys, Maruti Suzuki and Bajaj Auto were down on some selling.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 466.78 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 122.64 crore Tuesday, provisional data showed.

Overseas, Asian shares were trading higher after US market gained as investors grew more optimistic about the prospects of a resolution to the trade dispute between the US and China.

Japan's Nikkei rose 1.21 per cent, while Korea's Kospi was up 0.40 per cent in early trade. Hong Kong's Hang Seng too was trading higher.

On Wall Street, the US Dow Jones Industrial Average closed 1.49 per cent higher in Tuesday's trade.&nbsp;

The benchmark Sensex gained over 150 points in early trade Wednesday, snapping its four-session losing streak, on the back of positive macroeconomic data and better-than-expected earnings by some bluechip companies, amid positive global cues.

The benchmark Sensex gained over 150 points in early trade Wednesday, snapping its four-session losing streak, on the back of positive macroeconomic data and better-than-expected earnings by some bluechip companies, amid positive global cues. The 30-share barometer was trading higher by 169.36 points, or 0.47 per cent, at 36,322.97. The gauge had lost over 720 points in the previous four days. The NSE Nifty too climbed 29.20 points, to 10,860.60. Barring teck, all the sectoral indices, led by realty, FMCG, power and bankex, gained up to 1.50 per cent. Brokers said buying activity emerged on positive macroeconomic data as retail inflation fell to a 19-month low of 2.05 per cent in January over the previous month on continued decline in food prices. Meanwhile, industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. Both sets of data were released by the Central Statistics Office (CSO) Tuesday after market hours. "Given the current relatively low growth and inflation scenario coupled with high real interest rate situation, we expect the RBI to cut the policy rate by another 25 bps during the next policy meet," said Sujan Hajra, Chief Economist, Anand Rathi Financial Services, adding that the data releases are modestly positive for both the equity and debt market. Sun Pharma emerged as the top gainers in the Sensex pack by surging 2.77 per cent after the drug major Tuesday reported nearly four-fold jump in its consolidated net profit at Rs 1,241.85 crore for the quarter ended on December 31, 2018. Other big gainers were ITC, PowerGrid, HDFC, TCS, ONGC, HUL, NTPC, Kotak Bank, HDFC Bank, HUL, Coal India, Vedanta, Bajaj Finance, L&T and Yes Bank, rising up to 2.60 per cent. However, M&M, Hero MotoCorp, HCL Tech, SBI, Infosys, Maruti Suzuki and Bajaj Auto were down on some selling. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 466.78 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 122.64 crore Tuesday, provisional data showed. Overseas, Asian shares were trading higher after US market gained as investors grew more optimistic about the prospects of a resolution to the trade dispute between the US and China. Japan's Nikkei rose 1.21 per cent, while Korea's Kospi was up 0.40 per cent in early trade. Hong Kong's Hang Seng too was trading higher. On Wall Street, the US Dow Jones Industrial Average closed 1.49 per cent higher in Tuesday's trade.

Sensex rises over 150 points on easing inflation, positive global cues

<a href="http://www.wionews.com/business-economy/asian-stocks-lifted-by-us-china-trade-talk-hopes-197048">Stock markets jumped </a>Wednesday on hopes of a breakthrough in the <a href="http://www.wionews.com/world/us-china-trade-talks-begin-amid-deep-differences-193945">US-China trade </a>war.

The dollar mostly rose, while oil prices rallied on news that OPEC crude output hit a four-year nadir.

The pound weakened after official data showed UK inflation hit a two-year low and as the Brexit impasse drags on without a breakthrough insight.

In the US, President Donald Trump said he may extend his trade deal deadline with Beijing, while a report claimed his Chinese counterpart Xi Jinping would meet with top US officials, seeming to boost the prospects of an agreement.

High-level talks are due to begin in the Chinese capital Thursday aimed at an accord to stop sharp US tariff hikes that could damage the global economy.

Trump said he could let his March 1 deadline for the tariffs "slide for a little while" if the two sides were close to a meaningful deal, adding that he expects a summit with President Xi "at some point".

Later, a report in the South China Morning Post said Xi would personally meet the US delegation in Beijing, suggesting a redoubled effort to make progress on a deal.

Washington is demanding changes from Beijing on what it says are unfair commercial practices. A resolution would prevent US tariffs more than doubling on $200 billion in Chinese imports next month.&nbsp;

Tokyo stocks added a further 1.3 per cent after Tuesday's gains to finish at a two-month high.

Hong Kong rose 1.2 per cent, and Shanghai earned 1.8 per cent on the news, following Wall Street's lead.

European equities also climbed, with London up 0.6 per cent, Paris 0.3 per cent and Frankfurt 0.2 per cent nearing the half-way stage.

However, some analysts struck a cautious tone, noting that much work needs to be completed before a framework agreement is in reach.

"The rally in stocks has been based on hope rather than any concrete agreements overnight," warned Oanda senior analyst Jeffrey Halley, predicting short-term volatility to come as headlines emerge from Beijing.

Elsewhere Sydney shed 0.3 per cent, with calls for a snap election amid political tensions over refugees adding to underwhelming corporate earnings and subdued metal prices.

Shutdown unlikely&nbsp;

The New Zealand dollar soared 1.5 per cent as the central bank held interest rates unchanged and forecast no moves until 2021 — defying expectations it may follow dovish leads elsewhere by indicating a rate cut.&nbsp;

Renewed global investor confidence saw a movement away from the greenback — which has enjoyed a strong rally in the past week — to riskier currencies.

The pound moved upwards past $1.29, despite no-deal Brexit fears as Prime Minister Theresa May was accused by the opposition of "running down the clock" and "playing chicken" with Brussels over talks.

The yuan also earned back losses after it had dropped following the Lunar New Year break.

Trump's suggestion that another chaotic US government shutdown was now unlikely following a deal struck in Congress over border security further fuelled risk appetite.

The deal to offer nearly $1.4 billion for construction of a Mexico border wall, as well as other security measures, fell far short of Trump's demands but has been presented as a workable compromise.

"I don't think you're going to see a shutdown," said the president.

Stock markets jumped Wednesday on hopes of a breakthrough in the US-China trade war. The dollar mostly rose, while oil prices rallied on news that OPEC crude output hit a four-year nadir.

Stock markets jumped Wednesday on hopes of a breakthrough in the US-China trade war. The dollar mostly rose, while oil prices rallied on news that OPEC crude output hit a four-year nadir. The pound weakened after official data showed UK inflation hit a two-year low and as the Brexit impasse drags on without a breakthrough insight. In the US, President Donald Trump said he may extend his trade deal deadline with Beijing, while a report claimed his Chinese counterpart Xi Jinping would meet with top US officials, seeming to boost the prospects of an agreement. High-level talks are due to begin in the Chinese capital Thursday aimed at an accord to stop sharp US tariff hikes that could damage the global economy. Trump said he could let his March 1 deadline for the tariffs "slide for a little while" if the two sides were close to a meaningful deal, adding that he expects a summit with President Xi "at some point". Later, a report in the South China Morning Post said Xi would personally meet the US delegation in Beijing, suggesting a redoubled effort to make progress on a deal. Washington is demanding changes from Beijing on what it says are unfair commercial practices. A resolution would prevent US tariffs more than doubling on $200 billion in Chinese imports next month. Tokyo stocks added a further 1.3 per cent after Tuesday's gains to finish at a two-month high. Hong Kong rose 1.2 per cent, and Shanghai earned 1.8 per cent on the news, following Wall Street's lead. European equities also climbed, with London up 0.6 per cent, Paris 0.3 per cent and Frankfurt 0.2 per cent nearing the half-way stage. However, some analysts struck a cautious tone, noting that much work needs to be completed before a framework agreement is in reach. "The rally in stocks has been based on hope rather than any concrete agreements overnight," warned Oanda senior analyst Jeffrey Halley, predicting short-term volatility to come as headlines emerge from Beijing. Elsewhere Sydney shed 0.3 per cent, with calls for a snap election amid political tensions over refugees adding to underwhelming corporate earnings and subdued metal prices. Shutdown unlikely The New Zealand dollar soared 1.5 per cent as the central bank held interest rates unchanged and forecast no moves until 2021 — defying expectations it may follow dovish leads elsewhere by indicating a rate cut. Renewed global investor confidence saw a movement away from the greenback — which has enjoyed a strong rally in the past week — to riskier currencies. The pound moved upwards past $1.29, despite no-deal Brexit fears as Prime Minister Theresa May was accused by the opposition of "running down the clock" and "playing chicken" with Brussels over talks. The yuan also earned back losses after it had dropped following the Lunar New Year break. Trump's suggestion that another chaotic US government shutdown was now unlikely following a deal struck in Congress over border security further fuelled risk appetite. The deal to offer nearly $1.4 billion for construction of a Mexico border wall, as well as other security measures, fell far short of Trump's demands but has been presented as a workable compromise. "I don't think you're going to see a shutdown," said the president.

Stock markets jump as Trump boosts trade deal hopes

The global <a href="http://www.wionews.com/world/unemployment-major-challenge-facing-india-imf-127132">unemployment</a> rate inched down last year, the UN said Wednesday, warning though that jobs often failed to guarantee decent living, with some 700 million workers wallowing in poverty.&nbsp;

Unemployment around the world fell last year to 5.0 percent — from 5.1 percent in 2017 — for the first time dropping to the level seen before the global financial crisis hit in 2008, the International Labour Organisation said.

But in its flagship "World Employment and Social Outlook" trends report, the ILO also raised serious red flags about the health of the planet's job market.&nbsp;

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Deborah Greenfield, ILO's deputy director-general, told journalists in Geneva that the decline in global unemployment "is projected to stall", amid "uncertainty on many fronts," and a "deteriorating economic outlook".

The UN agency said it expected the jobless rate to remain at roughly the same level this year and in 2020, although the number of unemployed people should swell by two million to a total of 174 million next year as a result of the expanding labour force.

In particular, the report highlighted the hundreds of millions of people who remain poor despite holding one or more jobs.

In fact, it found that a majority of the 3.3 billion people employed around the globe last year suffered a "lack of material well-being, economic security, equal opportunities or scope for human development."

"Being in employment does not always guarantee a decent living," ILO research director Damian Grimshaw said in a statement, pointing out that "a full 700 million people are living in extreme or moderate poverty despite having employment."

The report found that a full 61 percent of all workers worldwide, or two billion people, are in so-called informal employment, with little to no social and contractual protections.

Greenfield cautioned that some new and emerging business models, such as using new technologies to create temporary work through web-based platforms for things like ride-sharing services, could expand that number if not regulated properly.

"Without the right policy measures it could easily add to the informal labour force," she said.

Among other issues highlighted in the report was the lack of progress in closing the gender gap in labour force participation, especially in the Arab states, North Africa and southern Asia.

ILO found that just 48 percent of women are in the workforce, compared to 75 percent of men, meaning that around three in five employed people last year were men.

In the Arab states, for instance, the report found that the unemployment rate for men stood at 15.6 percent -- three times that for men.

The global unemployment rate inched down last year, the UN said Wednesday, warning though that jobs often failed to guarantee decent living, with some 700 million workers wallowing in poverty.

The global unemployment rate inched down last year, the UN said Wednesday, warning though that jobs often failed to guarantee decent living, with some 700 million workers wallowing in poverty. Unemployment around the world fell last year to 5.0 percent — from 5.1 percent in 2017 — for the first time dropping to the level seen before the global financial crisis hit in 2008, the International Labour Organisation said. But in its flagship "World Employment and Social Outlook" trends report, the ILO also raised serious red flags about the health of the planet's job market. The ILO also raised, in its flagship 'World Employment and Social Outlook' trends report, serious red flags about the health of the planet's job market × Deborah Greenfield, ILO's deputy director-general, told journalists in Geneva that the decline in global unemployment "is projected to stall", amid "uncertainty on many fronts," and a "deteriorating economic outlook". The UN agency said it expected the jobless rate to remain at roughly the same level this year and in 2020, although the number of unemployed people should swell by two million to a total of 174 million next year as a result of the expanding labour force. In particular, the report highlighted the hundreds of millions of people who remain poor despite holding one or more jobs. In fact, it found that a majority of the 3.3 billion people employed around the globe last year suffered a "lack of material well-being, economic security, equal opportunities or scope for human development." "Being in employment does not always guarantee a decent living," ILO research director Damian Grimshaw said in a statement, pointing out that "a full 700 million people are living in extreme or moderate poverty despite having employment." The report found that a full 61 percent of all workers worldwide, or two billion people, are in so-called informal employment, with little to no social and contractual protections. Greenfield cautioned that some new and emerging business models, such as using new technologies to create temporary work through web-based platforms for things like ride-sharing services, could expand that number if not regulated properly. "Without the right policy measures it could easily add to the informal labour force," she said. Among other issues highlighted in the report was the lack of progress in closing the gender gap in labour force participation, especially in the Arab states, North Africa and southern Asia. ILO found that just 48 percent of women are in the workforce, compared to 75 percent of men, meaning that around three in five employed people last year were men. In the Arab states, for instance, the report found that the unemployment rate for men stood at 15.6 percent -- three times that for men.

Global unemployment down, but too many working poor: UN

Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.&nbsp;

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent.

South Korea`s KOSPI gained 0.5 per cent and Japan`s Nikkei climbed 1 per cent.

Asia took its cue from Wall Street, where the Dow and Nasdaq each rallied about 1.5 per cent overnight on optimism over U.S.-China trade negotiations and a tentative US congressional spending deal to avert another partial government shutdown.&nbsp;

US President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little if the two sides were close to a complete deal.

Officials in Washington and Beijing had expressed hopes that a new round of talks which began this week would bring them nearer to easing their seven-month trade war.

"We are currently seeing negative sentiment which had built up over trade concerns and US fiscal issues being unwound," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.

"For risk assets to move purely on optimism, the US-China trade row will need to see some kind of a closure in March. A more permanent solution to avoid a US government shutdown is also necessary. It has to be remembered that we are not there yet."

US congressional negotiators cobbled together a tentative bipartisan border security deal late on Monday to avert another partial government shutdown. However, Trump on Tuesday expressed displeasure with the agreement and said he had yet to decide whether to support it.

With risk aversion ebbing for the time being, safe-haven government bonds were sold and their yields rose. The 10-year US Treasury note yield extended an overnight rise and edged up to a near one-week high of 2.694 per cent.

The dollar was on the defensive as investors shifted their money to riskier assets amid the US-China trade-talk hopes.&nbsp;

The dollar index stood at 96.701 after its eight-day winning run came to an end overnight to push it away from a two-month peak.

The euro was a shade higher at $1.1333 having gained 0.5 per cent the previous day, when it bounced from a three-month low of $1.1258. 
The dollar was steady at 110.53 yen.

In commodities, US crude oil futures were up 0.73 per cent at $53.49 per barrel after rallying 1.3 per cent on Tuesday.

Oil prices surged on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.&nbsp;

Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.

Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute. MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent. South Korea`s KOSPI gained 0.5 per cent and Japan`s Nikkei climbed 1 per cent. Asia took its cue from Wall Street, where the Dow and Nasdaq each rallied about 1.5 per cent overnight on optimism over U.S.-China trade negotiations and a tentative US congressional spending deal to avert another partial government shutdown. US President Donald Trump said on Tuesday that he could see letting the March 1 deadline for reaching a trade agreement with China slide a little if the two sides were close to a complete deal. Officials in Washington and Beijing had expressed hopes that a new round of talks which began this week would bring them nearer to easing their seven-month trade war. "We are currently seeing negative sentiment which had built up over trade concerns and US fiscal issues being unwound," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo. "For risk assets to move purely on optimism, the US-China trade row will need to see some kind of a closure in March. A more permanent solution to avoid a US government shutdown is also necessary. It has to be remembered that we are not there yet." US congressional negotiators cobbled together a tentative bipartisan border security deal late on Monday to avert another partial government shutdown. However, Trump on Tuesday expressed displeasure with the agreement and said he had yet to decide whether to support it. With risk aversion ebbing for the time being, safe-haven government bonds were sold and their yields rose. The 10-year US Treasury note yield extended an overnight rise and edged up to a near one-week high of 2.694 per cent. The dollar was on the defensive as investors shifted their money to riskier assets amid the US-China trade-talk hopes. The dollar index stood at 96.701 after its eight-day winning run came to an end overnight to push it away from a two-month peak. The euro was a shade higher at $1.1333 having gained 0.5 per cent the previous day, when it bounced from a three-month low of $1.1258. The dollar was steady at 110.53 yen. In commodities, US crude oil futures were up 0.73 per cent at $53.49 per barrel after rallying 1.3 per cent on Tuesday. Oil prices surged on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.

Asian stocks lifted by US-China trade talk hopes

R Venkataramanan, the managing trustee of the Tata Trusts, a string of non-profits that own 66 per cent of the diversified Tata Sons, has resigned.

In another significant development, Ratan Tata’s half-brother Noel Tata has been appointed as a trustee of the Sir Ratan Tata Trust, the second largest among the dozen-odd charities that make up the Tata Trusts.

Venkataramanan’s Rs 2.66-crore annual compensation has been under the income tax scanner and led it to withdraw tax exemption to the Sir Dorabji Tata Trust-the largest of all the trusts–in December 2018.

Speculation is rife that Venkat, as Venkataramanan is popularly known, may shift to London in some new role within the Tata group.

Considered very close to Ratan Tata, the group patriarch and the chairman of the trusts, Venkat is also under the scanner in a money laundering case involving AirAsia India which is being probed by the Central Bureau of Investigation.

He will relinquish from the trusts on March 31, the statement said.

A committee of trustees, comprising Ratan Tata, and vice-chairmen Vijay Singh and Venu Srinivasan, has been set up to oversee the operations and select a new chief executive for the trusts, it said.

The trustees also placed on record Venkat’s contribution in “steering and executing the objectives” of the trusts’ portfolios over the last five years.

In addition to the interventions through grants, the Tata Trusts also pursues large-scale programmes through direct implementation and partnerships with many states and foundations, it said.

Noel Tata is the chairman of the group’s retail arm Trent and also the managing director of Tata International, that group arm that scouts for new business opportunities outside the country.

He has been appointed as the trustee of Sir Ratan Tata Trust along with Jehangir HC, who is currently spearheading the healthcare mission at the Jehangir Hospital, Pune, the statement said.

Speculation about Venkat’s resignation was rife since last Friday, following the I-T order. There were reports about some trustees not happy with Venkat’s high compensation of Rs 2.66 crore.

Some of the trustees were also very critical of the allegations relating to the income tax order that withdrew tax exemptions to the trusts, which is the largest and the oldest public charity in the country, sources said.

The Dorabji Tata Trust has appealed against the I-T order, though the contents of the order are not known yet.

R Venkataramanan, the managing trustee of the Tata Trusts, a string of non-profits that own 66 per cent of the diversified Tata Sons, has resigned. In another significant development, Ratan Tata’s half-brother Noel Tata has been appointed as a trustee of the Sir Ratan Tata Trust, the second largest among the dozen-odd charities that make up the Tata Trusts.

R Venkataramanan, the managing trustee of the Tata Trusts, a string of non-profits that own 66 per cent of the diversified Tata Sons, has resigned. In another significant development, Ratan Tata’s half-brother Noel Tata has been appointed as a trustee of the Sir Ratan Tata Trust, the second largest among the dozen-odd charities that make up the Tata Trusts. Venkataramanan’s Rs 2.66-crore annual compensation has been under the income tax scanner and led it to withdraw tax exemption to the Sir Dorabji Tata Trust-the largest of all the trusts–in December 2018. Speculation is rife that Venkat, as Venkataramanan is popularly known, may shift to London in some new role within the Tata group. Considered very close to Ratan Tata, the group patriarch and the chairman of the trusts, Venkat is also under the scanner in a money laundering case involving AirAsia India which is being probed by the Central Bureau of Investigation. He will relinquish from the trusts on March 31, the statement said. A committee of trustees, comprising Ratan Tata, and vice-chairmen Vijay Singh and Venu Srinivasan, has been set up to oversee the operations and select a new chief executive for the trusts, it said. The trustees also placed on record Venkat’s contribution in “steering and executing the objectives” of the trusts’ portfolios over the last five years. In addition to the interventions through grants, the Tata Trusts also pursues large-scale programmes through direct implementation and partnerships with many states and foundations, it said. Noel Tata is the chairman of the group’s retail arm Trent and also the managing director of Tata International, that group arm that scouts for new business opportunities outside the country. He has been appointed as the trustee of Sir Ratan Tata Trust along with Jehangir HC, who is currently spearheading the healthcare mission at the Jehangir Hospital, Pune, the statement said. Speculation about Venkat’s resignation was rife since last Friday, following the I-T order. There were reports about some trustees not happy with Venkat’s high compensation of Rs 2.66 crore. Some of the trustees were also very critical of the allegations relating to the income tax order that withdrew tax exemptions to the trusts, which is the largest and the oldest public charity in the country, sources said. The Dorabji Tata Trust has appealed against the I-T order, though the contents of the order are not known yet.

R Venkataramanan quits Tata Trusts; Noel joins Ratan Tata Trust

The BSE Sensex dropped over 200 points, ending in the negative terrain for the fourth straight session Tuesday, as investors intensified selling towards the fag end of the day, even as global cues remained positive.

Realty, IT, FMCG and banking counters witnessed heavy selling ahead of the index of the release of industrial production (IIP) data for December and consumer price inflation (CPI) numbers for January.

Indices failed to hold on to opening gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66 per cent, down at 36,153.62 points. The gauge had lost 580 points in the previous three sessions.

The broader Nifty finished at 10,831.40, down 57.40 points, or 0.53 per cent.

Top losers included Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent.

On the other hand, Sun Pharma, Coal India, Tata Steel, NTPC, Asian Paints, Vedanta, M&amp;M and RIL were the gainers, rising up to 2 per cent.

"The market closed the session with cuts of over half a per cent amid weak global cues and ahead of inflation and industrial output data," said Paras Bothra, President, Equity Research, Ashika Group.

"The underlying sentiment of the markets remained cautious as another round of US-China trade talks began with working-level talks in Beijing and US congressional negotiators reached an agreement in principle to fund the government and avoid another shutdown ahead of a Friday midnight deadline," he added.

Sectorally, the BSE realty index emerged as the worst performer by falling 1.29 per cent, followed by IT index shedding 0.94 per cent, teck (0.90 per cent), bankex (0.81 per cent), FMCG (0.73 per cent), auto (0.51 per cent), PSU (0.31 per cent), capital goods (0.19 per cent), power (0.08 per cent), consumer durables (0.07 per cent) and oil and gas (0.06 per cent).

While metal, healthcare and infrastructure indices ended higher up to 1.65 per cent.

In the broader markets, the small-cap index fell 0.43 per cent, and mid-caps shed 0.06 per cent.

Tepid earnings by some more companies and foreign fund outflows also dampened trading sentiments, brokers said.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 125.05 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 232.55 crore Monday, provisional data showed.

In the Asian region, Japan's Nikkei climbed 2.61 per cent, Korea's Kospi was up 0.45 per cent, Taiwan index gained 0.93 per cent and Shanghai Composite Index edged 0.68 per cent higher. Hong Kong's Hang Seng too up 0.10 per cent.

European markets traded higher in their early deals. Frankfurt's DAX gained 0.99 per cent, Paris CAC 40 rose 0.72 per cent and London's FTSE was up 0.33 per cent.

The BSE Sensex dropped over 200 points, ending in the negative terrain for the fourth straight session Tuesday, as investors intensified selling towards the fag end of the day, even as global cues remained positive.

The BSE Sensex dropped over 200 points, ending in the negative terrain for the fourth straight session Tuesday, as investors intensified selling towards the fag end of the day, even as global cues remained positive. Realty, IT, FMCG and banking counters witnessed heavy selling ahead of the index of the release of industrial production (IIP) data for December and consumer price inflation (CPI) numbers for January. Indices failed to hold on to opening gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66 per cent, down at 36,153.62 points. The gauge had lost 580 points in the previous three sessions. The broader Nifty finished at 10,831.40, down 57.40 points, or 0.53 per cent. Top losers included Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent. On the other hand, Sun Pharma, Coal India, Tata Steel, NTPC, Asian Paints, Vedanta, M&M and RIL were the gainers, rising up to 2 per cent. "The market closed the session with cuts of over half a per cent amid weak global cues and ahead of inflation and industrial output data," said Paras Bothra, President, Equity Research, Ashika Group. "The underlying sentiment of the markets remained cautious as another round of US-China trade talks began with working-level talks in Beijing and US congressional negotiators reached an agreement in principle to fund the government and avoid another shutdown ahead of a Friday midnight deadline," he added. Sectorally, the BSE realty index emerged as the worst performer by falling 1.29 per cent, followed by IT index shedding 0.94 per cent, teck (0.90 per cent), bankex (0.81 per cent), FMCG (0.73 per cent), auto (0.51 per cent), PSU (0.31 per cent), capital goods (0.19 per cent), power (0.08 per cent), consumer durables (0.07 per cent) and oil and gas (0.06 per cent). While metal, healthcare and infrastructure indices ended higher up to 1.65 per cent. In the broader markets, the small-cap index fell 0.43 per cent, and mid-caps shed 0.06 per cent. Tepid earnings by some more companies and foreign fund outflows also dampened trading sentiments, brokers said. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 125.05 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 232.55 crore Monday, provisional data showed. In the Asian region, Japan's Nikkei climbed 2.61 per cent, Korea's Kospi was up 0.45 per cent, Taiwan index gained 0.93 per cent and Shanghai Composite Index edged 0.68 per cent higher. Hong Kong's Hang Seng too up 0.10 per cent. European markets traded higher in their early deals. Frankfurt's DAX gained 0.99 per cent, Paris CAC 40 rose 0.72 per cent and London's FTSE was up 0.33 per cent.

Sensex drops 241 points ahead of macro data releases; bank, IT stocks crack

Gold prices held steady on Tuesday as investors kept a cautious stance ahead of a fresh round of<a href="http://13.232.42.114/world/big-differences-remain-but-certain-deals-reached-in-china-us-trade-talks-134752"> Sino-US trade talks</a>, while a firmer dollar capped gains for the bullion, which was drawing support from global economic slowdown worries.

Spot gold was firm at $1,308 per ounce, as of 0341 GMT, after falling 0.4 per cent in the previous session.

US gold futures were also mostly unchanged at $1,312.20 per ounce.

"Gold is being pushed around by the US dollar in the near term. Traders are getting out of anything to do with Europe on concerns of weakness in the region and going for safe-haven buying into US treasuries, which is pushing up the dollar," said Kyle Rodda, market analyst, IG Markets.

When investors buy US Treasury bonds, they are also required to purchase the greenback, which makes dollar-denominated gold more expensive for holders of other currencies, potentially subduing demand.

"Gold is still very resilient and should trade in the range of $1,305 to $1,320, with investors looking for headlines around trade talks, US government shutdown and data from the United States and China for signs of weakness in the economy," Rodda said.

The new round of<a href="http://www.wionews.com/world/us-china-trade-talks-resume-next-week-focus-on-intellectual-property-196249"> trade talks between China and the United States</a> started in Beijing on Monday with world's two largest economies trying to hammer out a deal before a March 1 deadline, after which US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 per cent from 10 per cent.

Sino-US trade tensions have rattled financial markets since last year and also underpinned the dollar's safe-haven appeal.

The dollar index was steady at 97.05, after advancing 0.4 per cent in the previous session in its largest percentage gain since Jan. 24.

"Ongoing trade tensions and concerns about weaker global economic growth continue to provide a level of support in the gold market," ANZ analysts said in a research note.

Meanwhile, US congressional negotiators said late on Monday they had reached a tentative deal on border security funding that would avert another partial government shutdown due to start on Saturday, but provided no details.

Investors are worried about the economic impact of the US government shutdown when global growth is already lean.

Among other metals, palladium traded steady at $1,385 per ounce, while silver inched up 0.1 per cent to $15.67.

Platinum rose 0.5 per cent to $785.50 per ounce. In the previous session, the metal touched $779.50, its lowest since January 2.

Gold prices held steady on Tuesday as investors kept a cautious stance ahead of a fresh round of Sino-US trade talks, while a firmer dollar capped gains for the bullion, which was drawing support from global economic slowdown worries.

Gold prices held steady on Tuesday as investors kept a cautious stance ahead of a fresh round of Sino-US trade talks, while a firmer dollar capped gains for the bullion, which was drawing support from global economic slowdown worries. Spot gold was firm at $1,308 per ounce, as of 0341 GMT, after falling 0.4 per cent in the previous session. US gold futures were also mostly unchanged at $1,312.20 per ounce. "Gold is being pushed around by the US dollar in the near term. Traders are getting out of anything to do with Europe on concerns of weakness in the region and going for safe-haven buying into US treasuries, which is pushing up the dollar," said Kyle Rodda, market analyst, IG Markets. When investors buy US Treasury bonds, they are also required to purchase the greenback, which makes dollar-denominated gold more expensive for holders of other currencies, potentially subduing demand. "Gold is still very resilient and should trade in the range of $1,305 to $1,320, with investors looking for headlines around trade talks, US government shutdown and data from the United States and China for signs of weakness in the economy," Rodda said. The new round of trade talks between China and the United States started in Beijing on Monday with world's two largest economies trying to hammer out a deal before a March 1 deadline, after which US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 per cent from 10 per cent. Sino-US trade tensions have rattled financial markets since last year and also underpinned the dollar's safe-haven appeal. The dollar index was steady at 97.05, after advancing 0.4 per cent in the previous session in its largest percentage gain since Jan. 24. "Ongoing trade tensions and concerns about weaker global economic growth continue to provide a level of support in the gold market," ANZ analysts said in a research note. Meanwhile, US congressional negotiators said late on Monday they had reached a tentative deal on border security funding that would avert another partial government shutdown due to start on Saturday, but provided no details. Investors are worried about the economic impact of the US government shutdown when global growth is already lean. Among other metals, palladium traded steady at $1,385 per ounce, while silver inched up 0.1 per cent to $15.67. Platinum rose 0.5 per cent to $785.50 per ounce. In the previous session, the metal touched $779.50, its lowest since January 2.

Gold steady as firmer dollar offsets growth concerns

Oil prices rose on Tuesday amid OPEC-led supply cuts and <a href="http://www.wionews.com/world/oil-rises-after-us-threat-of-sanctions-on-venezuela-crude-192512">US sanctions against Iran and Venezuela</a>, although analysts expect surging US production and concerns over economic growth to keep markets in check.

US West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 per cent, from their last close.

The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.

International Brent crude futures were up 50 cents, or 0.8 per cent, at $62.01 per barrel.

Analysts said markets are tightening amid voluntary production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and because of US sanctions on Venezuela and Iran.

But some said supply-side risks were not receiving enough focus.

"We believe that oil is not pricing in supply-side risks lately as markets are currently focused on US-China trade talks, ignoring the risks currently in place from the loss of Venezuelan barrels," US bank JP Morgan said in a weekly note.

Should US-China talks to end trade disputes between the two nations have a positive outcome, the bank said oil markets would "switch attention from macro concerns impacting future demand growth to physical tightness and geopolitical risks impacting immediate supply".

With OPEC engaged in supply management and the Middle East entangled in political conflicts while production outside the group surges, Bank of America Merrill Lynch said OPEC's global market share would fall as its outright output drops to 29 million barrels per day (bpd) in 2024 from 31.9 million bpd in 2018.

Growing US supply and a potential economic slowdown this year could cap oil markets.

"The worries of oversupply stemming from the US will likely remain a dominant theme as we approach the warmer months," said Edward Moya, market analyst at futures brokerage OANDA.

US bank Morgan Stanley said the surge in US crude oil production, which tends to be light in quality and which rose by more than 2 million barrels per day (bpd) last year to a record 11.9 million bpd, had resulted in overproduction of gasoline.

"Light crudes naturally yield more gasoline, and together with relatively modest demand-growth, this has driven gasoline stocks sharply higher and crack spreads sharply lower in recent months," Morgan Stanley said.

Refining profits for gasoline have plunged since mid-2018, going negative in Asia and Europe, amid tepid demand growth and a surge in supply.

As a result, Morgan Stanley said, "low refining margins and weaker economic data means oil prices can rally only so much (and) we continue to see the modest upside for Brent to $65 per barrel in the second half (of 2019)".

Bank of America also warned of "a significant slowing in growth globally", adding that it expected Brent and WTI to average $70 per barrel and $59 per barrel respectively in 2019, and $65 per barrel and $60 per barrel in 2020.

Oil prices rose on Tuesday amid OPEC-led supply cuts and US sanctions against Iran and Venezuela, although analysts expect surging US production and concerns over economic growth to keep markets in check.

Oil prices rose on Tuesday amid OPEC-led supply cuts and US sanctions against Iran and Venezuela, although analysts expect surging US production and concerns over economic growth to keep markets in check. US West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 per cent, from their last close. The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said. International Brent crude futures were up 50 cents, or 0.8 per cent, at $62.01 per barrel. Analysts said markets are tightening amid voluntary production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and because of US sanctions on Venezuela and Iran. But some said supply-side risks were not receiving enough focus. "We believe that oil is not pricing in supply-side risks lately as markets are currently focused on US-China trade talks, ignoring the risks currently in place from the loss of Venezuelan barrels," US bank JP Morgan said in a weekly note. Should US-China talks to end trade disputes between the two nations have a positive outcome, the bank said oil markets would "switch attention from macro concerns impacting future demand growth to physical tightness and geopolitical risks impacting immediate supply". With OPEC engaged in supply management and the Middle East entangled in political conflicts while production outside the group surges, Bank of America Merrill Lynch said OPEC's global market share would fall as its outright output drops to 29 million barrels per day (bpd) in 2024 from 31.9 million bpd in 2018. Growing US supply and a potential economic slowdown this year could cap oil markets. "The worries of oversupply stemming from the US will likely remain a dominant theme as we approach the warmer months," said Edward Moya, market analyst at futures brokerage OANDA. US bank Morgan Stanley said the surge in US crude oil production, which tends to be light in quality and which rose by more than 2 million barrels per day (bpd) last year to a record 11.9 million bpd, had resulted in overproduction of gasoline. "Light crudes naturally yield more gasoline, and together with relatively modest demand-growth, this has driven gasoline stocks sharply higher and crack spreads sharply lower in recent months," Morgan Stanley said. Refining profits for gasoline have plunged since mid-2018, going negative in Asia and Europe, amid tepid demand growth and a surge in supply. As a result, Morgan Stanley said, "low refining margins and weaker economic data means oil prices can rally only so much (and) we continue to see the modest upside for Brent to $65 per barrel in the second half (of 2019)". Bank of America also warned of "a significant slowing in growth globally", adding that it expected Brent and WTI to average $70 per barrel and $59 per barrel respectively in 2019, and $65 per barrel and $60 per barrel in 2020.

Oil prices rise on OPEC output cuts, as US sanctions bite

The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.

Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee, forex dealers said.

A positive opening in the domestic equity market gave the uptrend some momentum, they added.

The rupee opened lower at 71.21, but recovered to trade 6 paise higher at 71.12 against the dollar.

The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session Tuesday.

On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies.&nbsp;

The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.

The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks. Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee, forex dealers said. A positive opening in the domestic equity market gave the uptrend some momentum, they added. The rupee opened lower at 71.21, but recovered to trade 6 paise higher at 71.12 against the dollar. The benchmark BSE Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in early session Tuesday. On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies.

Rupee gains 6 paise against dollar in opening trade

Benchmark equity indices opened on a cautious note Tuesday ahead of the release of key macroeconomic numbers amid selling by foreign and domestic investors.

The 30-share Sensex was trading 3.66 points, or 0.01 per cent, lower at 36,391.37 in early trade. The index had lost 580 points in the previous three sessions.

The broader NSE Nifty slipped 3.95 points, or 0.04 per cent, to 10,884.85.

Major losers were Infosys, TCS, Hero MotoCorp, HCL Tech, Bajaj Finance, Axis Bank, Bajaj Auto, IndusInd Bank and Maruti, falling up to 2.42 per cent.

While the gainers include PowerGrid, Yes Bank, M&amp;M, RIL, Asian Paint, Sun Pharma, Cola India, Vedanta, ONGC, Tata Steel, SBI, L&amp;T, Tata Motors, HDFC Bank and ICICI Bank, rising up to 1.76 per cent.

Brokers said investors were cautious ahead of index of industrial production (IIP) data for December and inflation numbers for January to be released later in the day.

"Global trade deal and risk of slowdown in growth continue to give caution, while investors remain focused on CPI inflation and IIP data to get some direction," Vinod Nair, Head of Research, Geojit Financial Services said.

Heavy selling by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) also dented investor sentiment, they added.

On a net basis, FPIs sold shares worth Rs 125.05 crore, while DIIs offlaoded shares worth Rs 232.55 crore on Monday, provisional data showed.

Meanwhile, the rupee maintained its strength for the sixth straight day against the US dollar in opening trade.

Elsewhere in Asia, Japan's Nikkei rallied 2.03 per cent, Hong Kong's Hang Seng was up 0.20 per cent, Shanghai Composite Index rose 0.72 per cent and Korea's Kospi was up 0.37 per cent in their late morning deals.

On Wall Street, the US Dow Jones Industrial Average ended 0.21 per cent down on Monday.&nbsp;

Benchmark equity indices opened on a cautious note Tuesday ahead of the release of key macroeconomic numbers amid selling by foreign and domestic investors. The 30-share Sensex was trading 3.

Benchmark equity indices opened on a cautious note Tuesday ahead of the release of key macroeconomic numbers amid selling by foreign and domestic investors. The 30-share Sensex was trading 3.66 points, or 0.01 per cent, lower at 36,391.37 in early trade. The index had lost 580 points in the previous three sessions. The broader NSE Nifty slipped 3.95 points, or 0.04 per cent, to 10,884.85. Major losers were Infosys, TCS, Hero MotoCorp, HCL Tech, Bajaj Finance, Axis Bank, Bajaj Auto, IndusInd Bank and Maruti, falling up to 2.42 per cent. While the gainers include PowerGrid, Yes Bank, M&M, RIL, Asian Paint, Sun Pharma, Cola India, Vedanta, ONGC, Tata Steel, SBI, L&T, Tata Motors, HDFC Bank and ICICI Bank, rising up to 1.76 per cent. Brokers said investors were cautious ahead of index of industrial production (IIP) data for December and inflation numbers for January to be released later in the day. "Global trade deal and risk of slowdown in growth continue to give caution, while investors remain focused on CPI inflation and IIP data to get some direction," Vinod Nair, Head of Research, Geojit Financial Services said. Heavy selling by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) also dented investor sentiment, they added. On a net basis, FPIs sold shares worth Rs 125.05 crore, while DIIs offlaoded shares worth Rs 232.55 crore on Monday, provisional data showed. Meanwhile, the rupee maintained its strength for the sixth straight day against the US dollar in opening trade. Elsewhere in Asia, Japan's Nikkei rallied 2.03 per cent, Hong Kong's Hang Seng was up 0.20 per cent, Shanghai Composite Index rose 0.72 per cent and Korea's Kospi was up 0.37 per cent in their late morning deals. On Wall Street, the US Dow Jones Industrial Average ended 0.21 per cent down on Monday.

Sensex, Nifty turn cautious ahead of IIP, inflation data releases

Activists have petitioned a parliamentary panel to summon the heads of <a href="http://www.wionews.com/world/google-facebook-twitter-must-do-more-against-fake-news-eu-193737">US tech firms</a> including Facebook and Alphabet Inc's Google and question them on issues ranging from tax compliance to data privacy.

The petition, sent by a group that previously dragged WhatsApp to court and a right-wing political activist, comes a day after the panel summoned Twitter chief Jack Dorsey to discuss ways to safeguard citizens` rights on social media and online platforms.

Social media companies are coming under increased scrutiny in India ahead of elections due before May in which Prime Minister Narendra Modi is seeking another term. Some firms are overhauling policies to curb misinformation ahead of the vote.

In a letter to Anurag Thakur, the chair of the parliamentary panel on information technology (IT), the New Delhi-based Centre For Accountability And Systemic Change (CASC) and right-wing activist KN&nbsp;Govindacharya say the global heads of Facebook, its messenger WhatsApp, its photo-sharing platform Instagram, along with the chiefs of Twitter and Google, should all be summoned to answer queries on tax and other issues.

"We're calling everyone. But we have to start with someone," said Thakur, when asked about whether the panel he leads would also summon the heads of other online giants.

"In the past we called everyone on net neutrality... On this subject also of safeguarding citizens` rights and privacy we`ll call everyone concerned. Of course, we have to call those people who are authorised to take decisions and who head organisations."

Facebook, WhatsApp, Instagram and Google did not immediately respond to requests for comment. Twitter declined to comment.

CASC describes itself as a think-tank that takes up public interest issues. Govindacharya is a former member of a Hindu nationalist group that is the ideological parent of Modi`s Bharatiya Janata Party.

They have asked the IT panel to seek from social media firms a status report on the "transfer of sensitive personal data of millions of Indians", according to a copy of the letter seen by Reuters.

CASC has previously taken WhatsApp to court, accusing the messaging platform of not complying with India's IT laws and not having a local grievance officer.

The Indian IT Act mandates that intermediaries or carriers of content such as WhatsApp, appoint a Grievance Officer to handle any queries, concerns or issues that users of the platform may have that do not come under the purview of other authorities.

WhatsApp has previously said it has both an Indian corporate entity and a grievance officer for Indian users.

Activists have petitioned a parliamentary panel to summon the heads of US tech firms including Facebook and Alphabet Inc's Google and question them on issues ranging from tax compliance to data privacy.

Activists have petitioned a parliamentary panel to summon the heads of US tech firms including Facebook and Alphabet Inc's Google and question them on issues ranging from tax compliance to data privacy. The petition, sent by a group that previously dragged WhatsApp to court and a right-wing political activist, comes a day after the panel summoned Twitter chief Jack Dorsey to discuss ways to safeguard citizens` rights on social media and online platforms. Social media companies are coming under increased scrutiny in India ahead of elections due before May in which Prime Minister Narendra Modi is seeking another term. Some firms are overhauling policies to curb misinformation ahead of the vote. In a letter to Anurag Thakur, the chair of the parliamentary panel on information technology (IT), the New Delhi-based Centre For Accountability And Systemic Change (CASC) and right-wing activist KN Govindacharya say the global heads of Facebook, its messenger WhatsApp, its photo-sharing platform Instagram, along with the chiefs of Twitter and Google, should all be summoned to answer queries on tax and other issues. "We're calling everyone. But we have to start with someone," said Thakur, when asked about whether the panel he leads would also summon the heads of other online giants. "In the past we called everyone on net neutrality... On this subject also of safeguarding citizens` rights and privacy we`ll call everyone concerned. Of course, we have to call those people who are authorised to take decisions and who head organisations." Facebook, WhatsApp, Instagram and Google did not immediately respond to requests for comment. Twitter declined to comment. CASC describes itself as a think-tank that takes up public interest issues. Govindacharya is a former member of a Hindu nationalist group that is the ideological parent of Modi`s Bharatiya Janata Party. They have asked the IT panel to seek from social media firms a status report on the "transfer of sensitive personal data of millions of Indians", according to a copy of the letter seen by Reuters. CASC has previously taken WhatsApp to court, accusing the messaging platform of not complying with India's IT laws and not having a local grievance officer. The Indian IT Act mandates that intermediaries or carriers of content such as WhatsApp, appoint a Grievance Officer to handle any queries, concerns or issues that users of the platform may have that do not come under the purview of other authorities. WhatsApp has previously said it has both an Indian corporate entity and a grievance officer for Indian users.

After Twitter chief, Parliamentary panel urged to summon global heads of Facebook, other tech giants

Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela.

In its monthly report, OPEC said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel's pledge to curb output in a bid to boost sagging prices.

The decrease by the group of 14 producer countries -- which has long manipulated oil output to influence global prices in members' favour -- brought total production to 30.81 million barrels per day in the month, the report said citing secondary sources.

The reduction came mostly from the world's top oil exporter and OPEC kingpin Saudi Arabia, which cut 350,000 barrels per day, followed by the United Arab Emirates and Kuwait.

Oil production in Venezuela, which has been rocked by a crippling economic crisis, spiralling political turmoil and US sanctions, meanwhile sank by 59,000 barrels per day.

The cartel's scale-back was in line with an agreement by OPEC and non-OPEC members in December to trim production by 1.2 million barrels a day from January 1.

OPEC members vowed to cut 800,000 barrels a day of that amount, so January's figures fell just 3,000 barrels short of that commitment.

The cartel has joined forces with 10 non-member nations including Russia to trim output to avoid a repeat of the 2014 crash when prices dove to below $30 a barrel -- down from over $100 -- due to a glut in supplies and weakening global demand.

While remaining volatile, oil prices have rallied to just above $60 a barrel and jumped more than a dollar after the OPEC production update.

That figure remains far below the $85 a barrel hit in early October before prices slid back.

The Tuesday report estimated that non-OPEC members would produce more oil than expected this year, particularly in the Gulf of Mexico and the United States.

It also slightly downgraded its forecast for growth in global demand in 2019 from 1.29 million barrels per day to 1.24 million.

"With economic momentum expected to slow in the current year, this makes economic developments in the major consuming nations a key factor to monitor going forward," the report said.

Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela.

Global oil cartel OPEC said Tuesday it sharply reduced crude oil production last month after heavyweight Saudia Arabia slashed output and exports fell in crisis-hit Venezuela. In its monthly report, OPEC said it produced 797,000 fewer barrels per day in January than in the previous month, a decrease in line with the cartel's pledge to curb output in a bid to boost sagging prices. The decrease by the group of 14 producer countries -- which has long manipulated oil output to influence global prices in members' favour -- brought total production to 30.81 million barrels per day in the month, the report said citing secondary sources. The reduction came mostly from the world's top oil exporter and OPEC kingpin Saudi Arabia, which cut 350,000 barrels per day, followed by the United Arab Emirates and Kuwait. Oil production in Venezuela, which has been rocked by a crippling economic crisis, spiralling political turmoil and US sanctions, meanwhile sank by 59,000 barrels per day. The cartel's scale-back was in line with an agreement by OPEC and non-OPEC members in December to trim production by 1.2 million barrels a day from January 1. OPEC members vowed to cut 800,000 barrels a day of that amount, so January's figures fell just 3,000 barrels short of that commitment. The cartel has joined forces with 10 non-member nations including Russia to trim output to avoid a repeat of the 2014 crash when prices dove to below $30 a barrel -- down from over $100 -- due to a glut in supplies and weakening global demand. While remaining volatile, oil prices have rallied to just above $60 a barrel and jumped more than a dollar after the OPEC production update. That figure remains far below the $85 a barrel hit in early October before prices slid back. The Tuesday report estimated that non-OPEC members would produce more oil than expected this year, particularly in the Gulf of Mexico and the United States. It also slightly downgraded its forecast for growth in global demand in 2019 from 1.29 million barrels per day to 1.24 million. "With economic momentum expected to slow in the current year, this makes economic developments in the major consuming nations a key factor to monitor going forward," the report said.

OPEC oil production falls as Saudi Arabia slashes output