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Benchmark Sensex sank over 336 points to end at 36,108.47 in choppy trade Wednesday following tepid sentiment in other Asian bourses on mounting signs of slowing global growth and concerns over the lingering China-US trade dispute.

Traders said market remained range-bound for the better part of the session as investors kept their exposure at a low ebb due to weak global cues.

Towards the fag-end, the selling pressure gathered momentum after European markets opened in the negative zone.

The 30-share Sensex opened on a firm note at 36,494.12 and advanced to touch a high of 36,521.47, largely on a drop in global crude prices and a stronger rupee.

However, it succumbed to a late-session sell-off and finally ended at 36,108.75, down by 336.17 points, or 0.92 per cent. The gauge had lost 134.32 points in the previous session.

The NSE Nifty too tumbled 91.25 points, or 0.84 per cent, to close at 10,831.50 after moving between 10,811.95 and 10,944.75.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 78.53 crore Tuesday, while domestic institutional investors (DIIs) sold shares worth Rs 84.15 crore, provisional data showed.

Benchmark Sensex sank over 336 points to end at 36,108.47 in choppy trade Wednesday following tepid sentiment in other Asian bourses on mounting signs of slowing global growth and concerns over the lingering China-US trade dispute.

Benchmark Sensex sank over 336 points to end at 36,108.47 in choppy trade Wednesday following tepid sentiment in other Asian bourses on mounting signs of slowing global growth and concerns over the lingering China-US trade dispute. Traders said market remained range-bound for the better part of the session as investors kept their exposure at a low ebb due to weak global cues. Towards the fag-end, the selling pressure gathered momentum after European markets opened in the negative zone. The 30-share Sensex opened on a firm note at 36,494.12 and advanced to touch a high of 36,521.47, largely on a drop in global crude prices and a stronger rupee. However, it succumbed to a late-session sell-off and finally ended at 36,108.75, down by 336.17 points, or 0.92 per cent. The gauge had lost 134.32 points in the previous session. The NSE Nifty too tumbled 91.25 points, or 0.84 per cent, to close at 10,831.50 after moving between 10,811.95 and 10,944.75. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 78.53 crore Tuesday, while domestic institutional investors (DIIs) sold shares worth Rs 84.15 crore, provisional data showed.

Sensex melts 336 points, Nifty below 10,900 on weak global cues

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday.

Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion.

China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month.

Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.

China's trade with North Korea fell 51.2 per cent to $2.43 billion in 2018, customs data showed on Wednesday. Imports from North Korea fell 87.7 per cent to $213.15 million, while exports to North Korea dropped 31.7 per cent to $2.22 billion. China's total trade with North Korea was valued at $228.89 million in December, down from $247.75 million the previous month. Exports to North Korea in December were $207.43 million, down from $227.70 million the preceding month.

China's trade with North Korea falls 51% in 2018

Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018.&nbsp;

According to a survey conducted by PricewaterhouseCoopers, there prevails a gaping difference in the sentiment among global CEOs with regards to world economic growth. Over 1,300 CEOs were surveyed in September-October 2018, ahead of this year's&nbsp;<a href="http://www.wionews.com/world/imf-ceos-sound-warnings-as-leaders-gather-in-davos-191910">World Economic Forum event in Davos</a>, Switzerland.&nbsp;

This year's pessimism is in "vivid contrast to last year’s record jump, 29% to 57%, in optimism about global economic growth prospects," the survey found.&nbsp;

"Overall, CEOs’ views on global economic growth are more polarised this year but trending downward," the report stated.&nbsp;

The survey highlighted the United States as the top market for growth at 27%, significantly down from 46% in 2018. The second most attractive market, China, also saw its popularity fall to 24%, down from 33% in 2018.&nbsp;

"India is the rising star on the list," the released stated.&nbsp;

Taking a closer look at some country-specific results, CEOs’ confidence reflected the global drop attributed primarily to slowing world economies and looming trade tensions.&nbsp;

To drive revenue this year, CEOs plan to rely primarily on operational efficiencies at 77% and organic growth at 71%.&nbsp;

US retains top market slot for growth&nbsp;

The US retains its lead as the top market for growth over the next 12 months. Other global favourites include China, Germany, Indian and the UK.&nbsp;

“The turn away from the US market and shift in Chinese investment to other countries are reactions to the uncertainty surrounding the ongoing trade dispute between the US and China,” &nbsp;Bob Moritz, Global Chairman, PwC noted.

Threats to growth

Trade conflicts, policy uncertainty, and protectionism have replaced terrorism, climate change, and increasing tax burden in the top ten list of threats to growth, the report stated.&nbsp;

"Of CEOs ‘extremely concerned’ about trade conflicts, 88% are specifically uneasy about the trade issues between China and the US. Ninety-eight per cent of US CEOs and 90% of China’s CEOs have voiced these concerns," the release read.&nbsp;

Artificial intelligence

Again, there is no denying that the future of Artificial Intelligence (AI), and the future with AI, is bright. Global business leaders also resounded similar sentiment.&nbsp;

Eighty-five per cent of CEOs agree that AI will dramatically change their business over the next five years. Nearly two-thirds view it as something that will have a larger impact than the internet.&nbsp;

Meanwhile, the International Monetary Fund (IMF), In its World Economic Outlook report released on Monday, predicted the global economy will grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts, news agency Reuters reported.&nbsp;

"After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising," IMF Managing Director Christine Lagarde told reporters.

"Does that mean a global recession is around the corner? No. But the risk of a sharper decline in global growth has certainly increased," she said, urging policymakers to brace for a "serious slowdown."

&nbsp;

Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018.

Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018. According to a survey conducted by PricewaterhouseCoopers, there prevails a gaping difference in the sentiment among global CEOs with regards to world economic growth. Over 1,300 CEOs were surveyed in September-October 2018, ahead of this year's World Economic Forum event in Davos, Switzerland. This year's pessimism is in "vivid contrast to last year’s record jump, 29% to 57%, in optimism about global economic growth prospects," the survey found. "Overall, CEOs’ views on global economic growth are more polarised this year but trending downward," the report stated. The survey highlighted the United States as the top market for growth at 27%, significantly down from 46% in 2018. The second most attractive market, China, also saw its popularity fall to 24%, down from 33% in 2018. "India is the rising star on the list," the released stated. Taking a closer look at some country-specific results, CEOs’ confidence reflected the global drop attributed primarily to slowing world economies and looming trade tensions. To drive revenue this year, CEOs plan to rely primarily on operational efficiencies at 77% and organic growth at 71%. US retains top market slot for growth The US retains its lead as the top market for growth over the next 12 months. Other global favourites include China, Germany, Indian and the UK. “The turn away from the US market and shift in Chinese investment to other countries are reactions to the uncertainty surrounding the ongoing trade dispute between the US and China,” Bob Moritz, Global Chairman, PwC noted. Threats to growth Trade conflicts, policy uncertainty, and protectionism have replaced terrorism, climate change, and increasing tax burden in the top ten list of threats to growth, the report stated. "Of CEOs ‘extremely concerned’ about trade conflicts, 88% are specifically uneasy about the trade issues between China and the US. Ninety-eight per cent of US CEOs and 90% of China’s CEOs have voiced these concerns," the release read. Artificial intelligence Again, there is no denying that the future of Artificial Intelligence (AI), and the future with AI, is bright. Global business leaders also resounded similar sentiment. Eighty-five per cent of CEOs agree that AI will dramatically change their business over the next five years. Nearly two-thirds view it as something that will have a larger impact than the internet. Meanwhile, the International Monetary Fund (IMF), In its World Economic Outlook report released on Monday, predicted the global economy will grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts, news agency Reuters reported. "After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising," IMF Managing Director Christine Lagarde told reporters. "Does that mean a global recession is around the corner? No. But the risk of a sharper decline in global growth has certainly increased," she said, urging policymakers to brace for a "serious slowdown."

Ahead of Davos, global CEOs believe world economic growth will fall: Report

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020.

The 30-share BSE Sensex dropped 134.32 points to end at 36,444.64, while the broader NSE Nifty finished 39.10 points lower at 10,922.75.

Participants were seen taking money off the table after the recent rally, even as the wider sentiment remained positive, underpinned by better-than-expected Q3 earnings by several bluechips.

The BSE Sensex, after resuming higher at 36,649.92, advanced to 36,650.47 on buying by domestic institutional investors (DIIs) as well as retail participants.

However, the market quickly slipped into the negative zone as investors chose to lock in gains in recent outperformers, dragging down the key benchmark to a low of 36,282.93 before ending at 36,444.64 down 134.32 points, or 0.37 per cent.

The gauge had rallied over 725 points in the previous five sessions.

Likewise, the 50-stock NSE barometer Nifty finished 39.10 points, or 0.36 per cent, down at 10,922.75 after hitting the day's high of 10,949.80 and a low of 10,864.15.

Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices.

"The market tracked other Asian markets following IMF's weak forecasts of global growth prospects," said Paras Bothra, President, Equity Research, Ashika Group.

"While India's economic forecasts were retained, concerns were raised over the difficulties in containing the fiscal deficit. Continued weakness in the rupee favoured IT and Pharma stocks while the majority of other sectors were under pressure," he added.

The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated.

Meanwhile, India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, the IMF said Monday, attributing the pick up to the lower oil prices and a slower pace of monetary tightening.

The International Monetary Fund in its January World Economy Outlook update on Monday said India would remain the fastest growing major economies of the world.

Foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 299.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed.

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020.

The domestic equity market took a breather on Tuesday after a five-day rising spree as investors booked profits in metal, financials and auto counters, amid weak cues from international markets after IMF lowered its global growth projections for 2019 and 2020. The 30-share BSE Sensex dropped 134.32 points to end at 36,444.64, while the broader NSE Nifty finished 39.10 points lower at 10,922.75. Participants were seen taking money off the table after the recent rally, even as the wider sentiment remained positive, underpinned by better-than-expected Q3 earnings by several bluechips. The BSE Sensex, after resuming higher at 36,649.92, advanced to 36,650.47 on buying by domestic institutional investors (DIIs) as well as retail participants. However, the market quickly slipped into the negative zone as investors chose to lock in gains in recent outperformers, dragging down the key benchmark to a low of 36,282.93 before ending at 36,444.64 down 134.32 points, or 0.37 per cent. The gauge had rallied over 725 points in the previous five sessions. Likewise, the 50-stock NSE barometer Nifty finished 39.10 points, or 0.36 per cent, down at 10,922.75 after hitting the day's high of 10,949.80 and a low of 10,864.15. Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices. "The market tracked other Asian markets following IMF's weak forecasts of global growth prospects," said Paras Bothra, President, Equity Research, Ashika Group. "While India's economic forecasts were retained, concerns were raised over the difficulties in containing the fiscal deficit. Continued weakness in the rupee favoured IT and Pharma stocks while the majority of other sectors were under pressure," he added. The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated. Meanwhile, India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, the IMF said Monday, attributing the pick up to the lower oil prices and a slower pace of monetary tightening. The International Monetary Fund in its January World Economy Outlook update on Monday said India would remain the fastest growing major economies of the world. Foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 299.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed.

Sensex snaps 5-day winning streak on weak global cues and profit-booking, falls 134 points to close at 36,445

The benchmark BSE Sensex fell over 100 points Tuesday after a five-session winning spree as investors cashed profits in IT, metal, banking, consumer durables, power and auto shares amid sustained foreign fund outflows.

Cues from other Asian markets were weak too.

The BSE 30-share barometer dropped 134.05 points, or 0.37 per cent, to 36,444.91 in early trade as index major Reliance Industries, Tata Steel, Tata Motors, ICICI Bank and Maruti Suzuki declined.&nbsp;

The gauge had rallied over 725 points in the previous five sessions.

The NSE Nifty index too slipped by 45.90 points, or 0.42 per cent, to 10,915.95.

Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices.

Besides, a weak trend at most of the other Asian markets on concerns about the global economic outlook, after the International Monetary fund (IMF) slashed its world economic forecast Monday, weighed on the sentiments here, they added.

The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated.

The laggards were Tata Steel, IndusInd Bank, Vedanta, M&amp;M, Yes Bank, Bajaj Auto, Coal India, Maruti Suzuki, RIL, Axis Bank, Infosys, HCL Tech, HDFC, HDFC Bank, PowerGrid, Asian Paint, HUL and SBI, falling up to 1.70 per cent.

Meanwhile, foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 29.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed.

Elsewhere in Asia, Shanghai Composite Index fell 0.73 per cent, Korea's Kospi was down 0.65 per cent and Taiwan's index shed 0.21 per cent. Hong Kong's Hang Seng fell 0.88 per cent and Japan's Nikkei fell 0.06 per cent.&nbsp;

The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market Tuesday on fresh selling of the American currency by exporters and banks.&nbsp;

The benchmark BSE Sensex fell over 100 points Tuesday after a five-session winning spree as investors cashed profits in IT, metal, banking, consumer durables, power and auto shares amid sustained foreign fund outflows.

The benchmark BSE Sensex fell over 100 points Tuesday after a five-session winning spree as investors cashed profits in IT, metal, banking, consumer durables, power and auto shares amid sustained foreign fund outflows. Cues from other Asian markets were weak too. The BSE 30-share barometer dropped 134.05 points, or 0.37 per cent, to 36,444.91 in early trade as index major Reliance Industries, Tata Steel, Tata Motors, ICICI Bank and Maruti Suzuki declined. The gauge had rallied over 725 points in the previous five sessions. The NSE Nifty index too slipped by 45.90 points, or 0.42 per cent, to 10,915.95. Brokers said investors turned cautious and preferred to log profits in recent gainers, dragging down key indices. Besides, a weak trend at most of the other Asian markets on concerns about the global economic outlook, after the International Monetary fund (IMF) slashed its world economic forecast Monday, weighed on the sentiments here, they added. The IMF lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated. The laggards were Tata Steel, IndusInd Bank, Vedanta, M&M, Yes Bank, Bajaj Auto, Coal India, Maruti Suzuki, RIL, Axis Bank, Infosys, HCL Tech, HDFC, HDFC Bank, PowerGrid, Asian Paint, HUL and SBI, falling up to 1.70 per cent. Meanwhile, foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 29.79 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 520.80 crore Monday, provisional data showed. Elsewhere in Asia, Shanghai Composite Index fell 0.73 per cent, Korea's Kospi was down 0.65 per cent and Taiwan's index shed 0.21 per cent. Hong Kong's Hang Seng fell 0.88 per cent and Japan's Nikkei fell 0.06 per cent. The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market Tuesday on fresh selling of the American currency by exporters and banks.

Sensex drops over 100 points on profit-booking, weak global cues

The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market Tuesday on fresh selling of the American currency by exporters and banks.

Besides, the dollar's weakness against some other currencies amid lingering worries about a global slowdown supported the rupee, forex dealers said.

However, a weak trend in domestic equities in early trade limited the rupee's gain.

On Monday, the rupee had ended lower by 9 paise at 71.28 against the US currency amid the&nbsp;rise in demand for the greenback.

Meanwhile, benchmark BSE Sensex fell 71.47 points, or 0.18 per cent, to 36,507.49 and the NSE Nifty was down by 30.95 points, or 0.29 per cent, at 10,930.90 in opening trade Tuesday.&nbsp;

The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market Tuesday on fresh selling of the American currency by exporters and banks.

The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market Tuesday on fresh selling of the American currency by exporters and banks. Besides, the dollar's weakness against some other currencies amid lingering worries about a global slowdown supported the rupee, forex dealers said. However, a weak trend in domestic equities in early trade limited the rupee's gain. On Monday, the rupee had ended lower by 9 paise at 71.28 against the US currency amid the rise in demand for the greenback. Meanwhile, benchmark BSE Sensex fell 71.47 points, or 0.18 per cent, to 36,507.49 and the NSE Nifty was down by 30.95 points, or 0.29 per cent, at 10,930.90 in opening trade Tuesday.

Rupee rises 5 paise against dollar to 71.23

After Japan, India overtakes UK as most attractive investment market:  PwC survey

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday.

As leaders gathered for the annual meeting,&nbsp;WION spoke to the former governor of Reserve Bank of India, Raghuram Rajan&nbsp;who is also attending the event. Speaking to&nbsp;WION's correspondent, Sumit Chaturvedi, Rajan&nbsp;said that there is underlying strength in&nbsp;the global economy.

Commenting on the recent forecast by International Monetary Fund(IMF) on global economic growth, Rajan said he agrees with IMF and said that there are clouds hanging over the world economy as China is underperforming in comparison to its&nbsp;past record&nbsp;and the US is also suffering due to the government shutdown.

"Well, I have no reason to differ from the IMF, there is broadly strength in the underlying economy, there are some clouds, certainly, China is underperforming relative&nbsp;to the past...in the US there are issues like a government shutdown, so we have to wait and see," Rajan&nbsp;said.

Commenting on the World Economic Forum, Rajan said, "It's just started so not much has happened so far..will see what people say, what people think..it's a process of discussion and debate."

Experts have said that the absence of western leaders at the Davos meeting has added to the challenges brought by populism to the globalisation process.

Meanwhile, fears of a global slowdown have jolted markets and forced the US Federal Reserve Bank to signal a pause in its interest rate hike cycle, as investors fret about increasing weak signs in China and the fallout from Sino-US trade frictions.

Data released on Monday showed China's economy cooled in the fourth quarter on faltering domestic demand and bruising US&nbsp;tariffs, dragging 2018 growth to the lowest in nearly three decades.

Topics such as global economic landscape, climate change, artificial intelligence and digitalisation are also on top of the agenda at the WEF.

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday.

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday. As leaders gathered for the annual meeting, WION spoke to the former governor of Reserve Bank of India, Raghuram Rajan who is also attending the event. Speaking to WION's correspondent, Sumit Chaturvedi, Rajan said that there is underlying strength in the global economy. Commenting on the recent forecast by International Monetary Fund(IMF) on global economic growth, Rajan said he agrees with IMF and said that there are clouds hanging over the world economy as China is underperforming in comparison to its past record and the US is also suffering due to the government shutdown. "Well, I have no reason to differ from the IMF, there is broadly strength in the underlying economy, there are some clouds, certainly, China is underperforming relative to the past...in the US there are issues like a government shutdown, so we have to wait and see," Rajan said. Commenting on the World Economic Forum, Rajan said, "It's just started so not much has happened so far..will see what people say, what people think..it's a process of discussion and debate." Experts have said that the absence of western leaders at the Davos meeting has added to the challenges brought by populism to the globalisation process. Meanwhile, fears of a global slowdown have jolted markets and forced the US Federal Reserve Bank to signal a pause in its interest rate hike cycle, as investors fret about increasing weak signs in China and the fallout from Sino-US trade frictions. Data released on Monday showed China's economy cooled in the fourth quarter on faltering domestic demand and bruising US tariffs, dragging 2018 growth to the lowest in nearly three decades. Topics such as global economic landscape, climate change, artificial intelligence and digitalisation are also on top of the agenda at the WEF.

Watch: China underperforming relative to past, says Ex RBI chief Raghuram Rajan in Davos

IMF Chief Economist Gita Gopinath on Monday flagged weakening global growth at a rate higher than expected and said emerging economies are also facing risks triggered by capital flows due to US actions and currency depreciation.

While global growth in 2018 remained close to post-crisis highs, the global expansion is weakening and at a rate that is somewhat faster than expected, Gopinath said here while announcing the latest update to the IMF's World Economic Outlook.

IMF has projected global growth at 3.5 per cent in 2019 and 3.6 per cent in 2020, 0.2 and 0.1 percentage point below its October projections. 
Notwithstanding the modest downward revisions, Gopinath said risks to more significant downward corrections are rising.

While financial markets in advanced economies appeared to be decoupled from trade tensions for much of 2018, the two have become intertwined more recently, tightening financial conditions and escalating the risks to global growth, she added.

The US expansion continues, but the forecast remains for a deceleration with the unwinding of fiscal stimulus.

Economic activity in emerging and developing economies is also projected to tick down to 4.5 per cent in 2019, with a rebound to 4.9 per cent in 2020.

The outlook for emerging markets and developing economies reflects the continued headwinds from weaker capital flows following higher US policy rates and exchange rate depreciation, even though they have become less extreme, she said.

Across emerging economies, some of the pickups in inflation reversed towards the end of 2018, she added.

An escalation of trade tensions and a worsening of financial conditions are key sources of risk to the outlook. Higher trade uncertainty will further dampen investment and disrupt global supply chains, Gopinath added.

A more serious tightening of financial conditions is particularly costly given the high levels of private and public sector debt in countries, IMF's first woman chief economist said with Managing Director Christine Lagarde sitting by her side.

China's growth slowdown could be faster than expected, especially if trade tensions continue, and this can trigger abrupt sell-offs in financial and commodity markets as was the case in 2015-16, Gopinath said.

In Europe, the Brexit cliffhanger continues, and the costly spillovers between sovereign and financial risk in Italy remain a threat. In the US, a protracted US federal government shutdown poses downside risks.

IMF Chief Economist Gita Gopinath on Monday flagged weakening global growth at a rate higher than expected and said emerging economies are also facing risks triggered by capital flows due to US actions and currency depreciation.

IMF Chief Economist Gita Gopinath on Monday flagged weakening global growth at a rate higher than expected and said emerging economies are also facing risks triggered by capital flows due to US actions and currency depreciation. While global growth in 2018 remained close to post-crisis highs, the global expansion is weakening and at a rate that is somewhat faster than expected, Gopinath said here while announcing the latest update to the IMF's World Economic Outlook. IMF has projected global growth at 3.5 per cent in 2019 and 3.6 per cent in 2020, 0.2 and 0.1 percentage point below its October projections. Notwithstanding the modest downward revisions, Gopinath said risks to more significant downward corrections are rising. While financial markets in advanced economies appeared to be decoupled from trade tensions for much of 2018, the two have become intertwined more recently, tightening financial conditions and escalating the risks to global growth, she added. The US expansion continues, but the forecast remains for a deceleration with the unwinding of fiscal stimulus. Economic activity in emerging and developing economies is also projected to tick down to 4.5 per cent in 2019, with a rebound to 4.9 per cent in 2020. The outlook for emerging markets and developing economies reflects the continued headwinds from weaker capital flows following higher US policy rates and exchange rate depreciation, even though they have become less extreme, she said. Across emerging economies, some of the pickups in inflation reversed towards the end of 2018, she added. An escalation of trade tensions and a worsening of financial conditions are key sources of risk to the outlook. Higher trade uncertainty will further dampen investment and disrupt global supply chains, Gopinath added. A more serious tightening of financial conditions is particularly costly given the high levels of private and public sector debt in countries, IMF's first woman chief economist said with Managing Director Christine Lagarde sitting by her side. China's growth slowdown could be faster than expected, especially if trade tensions continue, and this can trigger abrupt sell-offs in financial and commodity markets as was the case in 2015-16, Gopinath said. In Europe, the Brexit cliffhanger continues, and the costly spillovers between sovereign and financial risk in Italy remain a threat. In the US, a protracted US federal government shutdown poses downside risks.

Emerging economies facing headwinds from weaker capital flows, currency dips: IMF chief economist Gita Gopinath

The rupee weakened by 26 paise to 71.45 against the US dollar in early trade Monday on increased demand for the American currency from importers amid rising crude prices and foreign fund outflows.

At the interbank forex exchange, the rupee opened lower at 71.38 and weakened further to quote 26 paise down at Rs 71.45 against the dollar.

Forex dealers said the dollar's gains against some other currencies overseas too weighed on the rupee sentiment.

However, a positive opening of the domestic equity market capped the rupee's losses, they said.

Brent crude, the international oil benchmark, was trading 0.46 per cent higher at US $62.99 per dollar, its two-month high.

On Friday, the rupee had shed 16 paise to end at 71.19 against the dollar.

Meanwhile, the benchmark BSE Sensex rose 32.76 points, to 32,419.37 in opening session Monday.&nbsp;

The rupee weakened by 26 paise to 71.45 against the US dollar in early trade Monday on increased demand for the American currency from importers amid rising crude prices and foreign fund outflows.

The rupee weakened by 26 paise to 71.45 against the US dollar in early trade Monday on increased demand for the American currency from importers amid rising crude prices and foreign fund outflows. At the interbank forex exchange, the rupee opened lower at 71.38 and weakened further to quote 26 paise down at Rs 71.45 against the dollar. Forex dealers said the dollar's gains against some other currencies overseas too weighed on the rupee sentiment. However, a positive opening of the domestic equity market capped the rupee's losses, they said. Brent crude, the international oil benchmark, was trading 0.46 per cent higher at US $62.99 per dollar, its two-month high. On Friday, the rupee had shed 16 paise to end at 71.19 against the dollar. Meanwhile, the benchmark BSE Sensex rose 32.76 points, to 32,419.37 in opening session Monday.

Rupee depreciates 26 paise against US dollar in early trade

Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note Monday, on continued buying in select bluechips by domestic investors amid positive cues from other Asian bourses.

The 30-share BSE index jumped 228.12 points, or 0.63 per cent, to 36,614.73 in early trade. The NSE Nifty, too, rose 53.10 points, or 0.49 per cent, to 10,960.05.

Sectoral indices led by healthcare, IT, auto, FMCG, power and oil &amp; gas advanced up to 0.57 per cent.

Brokers said, besides sustained buying by domestic investors on encouraging Q3 earnings from bluechip companies, a firming trend at other Asian markets on easing of US-China trade tensions, dovish commentary form the Federal Reserve and efforts in China to support the slowing economy, influenced trading sentiments here.

Meanwhile, domestic institutional investors (DIIs) sold shares worth a net of Rs 124.91 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 97 crore on Friday, as per provisional data.

Major gainers included Sun Pharma, RIL, Infosys, Bajaj Finance, Bharti Airtel, Tata Motors, Yes Bank, TCS, HUL, Tata Steel, NTPC, ICICI Bank, HCL Tech, Asian Paint, Vedanta, ITC, M&amp;M, Maruti Suzuki and HDFC Bank, rising up to 3.02 per cent.

Among the Asian bourses, Hong Kong's Hang Seng was up 0.19 per cent, Japan's Nikkei rose 0.45 per cent, Taiwan gained 0.74 per cent and Shanghai Composite Index was up 0.68 per cent in late morning trade Monday.

The US Dow Jones Industrial Average ended 1.38 per cent higher Friday.&nbsp;

Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note Monday, on continued buying in select bluechips by domestic investors amid positive cues from other Asian bourses.

Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note Monday, on continued buying in select bluechips by domestic investors amid positive cues from other Asian bourses. The 30-share BSE index jumped 228.12 points, or 0.63 per cent, to 36,614.73 in early trade. The NSE Nifty, too, rose 53.10 points, or 0.49 per cent, to 10,960.05. Sectoral indices led by healthcare, IT, auto, FMCG, power and oil & gas advanced up to 0.57 per cent. Brokers said, besides sustained buying by domestic investors on encouraging Q3 earnings from bluechip companies, a firming trend at other Asian markets on easing of US-China trade tensions, dovish commentary form the Federal Reserve and efforts in China to support the slowing economy, influenced trading sentiments here. Meanwhile, domestic institutional investors (DIIs) sold shares worth a net of Rs 124.91 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 97 crore on Friday, as per provisional data. Major gainers included Sun Pharma, RIL, Infosys, Bajaj Finance, Bharti Airtel, Tata Motors, Yes Bank, TCS, HUL, Tata Steel, NTPC, ICICI Bank, HCL Tech, Asian Paint, Vedanta, ITC, M&M, Maruti Suzuki and HDFC Bank, rising up to 3.02 per cent. Among the Asian bourses, Hong Kong's Hang Seng was up 0.19 per cent, Japan's Nikkei rose 0.45 per cent, Taiwan gained 0.74 per cent and Shanghai Composite Index was up 0.68 per cent in late morning trade Monday. The US Dow Jones Industrial Average ended 1.38 per cent higher Friday.

Sensex jumps 250 points; Nifty tests 10,950

China's economy grew at its slowest pace in almost three decades in 2018, losing more steam in the last quarter as it battles to quell massive debt and a US trade war, official data showed Monday.

The 6.6 percent growth comes in above the official target of around 6.5 percent and matches a forecast by analysts polled by AFP, but is down from the 6.8 percent chalked up in 2017, according to the National Bureau of Statistics (NBS).

And in a sign of <a href="http://www.wionews.com/opinions/the-dilemmas-of-chinas-economic-rise-170616">the battle Beijing faces in getting things back on track</a>, growth in the last three months of the year clocked in at 6.4 percent, matching a low seen during the global financial crisis 10 years ago, with economists widely expecting the slowdown to deepen.

"The 'three critical battles' of preventing and defusing financial risks, conducting targeted poverty alleviation, and controlling pollution got off to a good start," said NBS commissioner Ning Jizhe in prepared remarks.

The slowing growth prompted Premier Li Keqiang last week to vow the government would not let the economy "fall off a cliff".

Relations with top trading partner the US deteriorated sharply last year after President Donald Trump hit roughly half of Chinese imports with new tariffs in an attempt to force trade concessions.

The trade war is on hold for now after President Xi Jinping and Trump agreed to a three-month ceasefire while the two sides try to find a resolution, with top negotiators set to meet in Washington at the end of the month.

While analysts say the standoff has dented confidence -- leaving the stock markets battered and the yuan weakened -- they attribute most of the downturn to the government policies to tackle growing debt, financial risk and pollution.

China hit the brakes on major projects such as subway lines and motorways and held off on mountain-moving endeavours to keep a lid on debt last year, with infrastructure investment rising by just 3.8 percent, down from 19 percent the year before.

China's exports to US and the world also fell in December, reinforcing the need for its legions of domestic consumers to fuel the economy.

'Massive market' 
Li last week touted China's "massive market" and vowed to spur on consumption, but the data shows difficulty ahead.

Overall credit growth decelerated every month last year.

"The slowdown in credit growth is causing economic momentum to falter," said Mark Williams, chief Asia economist at Capital Economics, in a note last week.

Tighter credit has hit consumer spending with car sales falling last year for the first time in more than 20 years.&nbsp;

Retail sales growth slowed to 9.0 percent, down from a 10.2 percent increase the previous year. In December, sales grew 8.2 percent.&nbsp;

Output at factories and workshops ticked up 6.2 percent for the year, down from 6.6 percent in 2017.&nbsp;

Reliable data? 
The official figures could be painting an overly rosy picture, analysts say.

Economists in China and abroad have long suspected data is massaged upward, often noting that full-year gross domestic product hits Beijing's pre-set targets with suspicious regularity.

The governor of northeastern Liaoning admitted in 2017 that the industrial province had falsified data for years.

Even Li said in 2007, when he was Liaoning's top political official, that results were often "man-made" and he used his own calculations to guide provincial policymaking, according to a confidential memo released by WikiLeaks.

"The NBS is part of the government... that is why it is legitimate for the outside world to worry about potential adjustment of data on the economy," said Louis Kuijs of Oxford Economics.

The US-based Conference Board, a widely respected global business think tank, said its methodology indicates growth of 4.1 percent for 2018.

On Friday, China revised its 2017 economic growth down to 6.8 percent from 6.9 percent -- a move some analysts say may have been aimed at beefing up this year's growth rate.

"Sceptics will be forgiven for questioning whether NBS is trying to smooth GDP growth by shifting some of the recent weakness into the 2017 figures," said Julian Evans-Pritchard of Capital Economics in a note.

China's economy grew at its slowest pace in almost three decades in 2018, losing more steam in the last quarter as it battles to quell massive debt and a US trade war, official data showed Monday.

China's economy grew at its slowest pace in almost three decades in 2018, losing more steam in the last quarter as it battles to quell massive debt and a US trade war, official data showed Monday. The 6.6 percent growth comes in above the official target of around 6.5 percent and matches a forecast by analysts polled by AFP, but is down from the 6.8 percent chalked up in 2017, according to the National Bureau of Statistics (NBS). And in a sign of the battle Beijing faces in getting things back on track, growth in the last three months of the year clocked in at 6.4 percent, matching a low seen during the global financial crisis 10 years ago, with economists widely expecting the slowdown to deepen. "The 'three critical battles' of preventing and defusing financial risks, conducting targeted poverty alleviation, and controlling pollution got off to a good start," said NBS commissioner Ning Jizhe in prepared remarks. The slowing growth prompted Premier Li Keqiang last week to vow the government would not let the economy "fall off a cliff". Relations with top trading partner the US deteriorated sharply last year after President Donald Trump hit roughly half of Chinese imports with new tariffs in an attempt to force trade concessions. The trade war is on hold for now after President Xi Jinping and Trump agreed to a three-month ceasefire while the two sides try to find a resolution, with top negotiators set to meet in Washington at the end of the month. While analysts say the standoff has dented confidence -- leaving the stock markets battered and the yuan weakened -- they attribute most of the downturn to the government policies to tackle growing debt, financial risk and pollution. China hit the brakes on major projects such as subway lines and motorways and held off on mountain-moving endeavours to keep a lid on debt last year, with infrastructure investment rising by just 3.8 percent, down from 19 percent the year before. China's exports to US and the world also fell in December, reinforcing the need for its legions of domestic consumers to fuel the economy. 'Massive market' Li last week touted China's "massive market" and vowed to spur on consumption, but the data shows difficulty ahead. Overall credit growth decelerated every month last year. "The slowdown in credit growth is causing economic momentum to falter," said Mark Williams, chief Asia economist at Capital Economics, in a note last week. Tighter credit has hit consumer spending with car sales falling last year for the first time in more than 20 years. Retail sales growth slowed to 9.0 percent, down from a 10.2 percent increase the previous year. In December, sales grew 8.2 percent. Output at factories and workshops ticked up 6.2 percent for the year, down from 6.6 percent in 2017. Reliable data? The official figures could be painting an overly rosy picture, analysts say. Economists in China and abroad have long suspected data is massaged upward, often noting that full-year gross domestic product hits Beijing's pre-set targets with suspicious regularity. The governor of northeastern Liaoning admitted in 2017 that the industrial province had falsified data for years. Even Li said in 2007, when he was Liaoning's top political official, that results were often "man-made" and he used his own calculations to guide provincial policymaking, according to a confidential memo released by WikiLeaks. "The NBS is part of the government... that is why it is legitimate for the outside world to worry about potential adjustment of data on the economy," said Louis Kuijs of Oxford Economics. The US-based Conference Board, a widely respected global business think tank, said its methodology indicates growth of 4.1 percent for 2018. On Friday, China revised its 2017 economic growth down to 6.8 percent from 6.9 percent -- a move some analysts say may have been aimed at beefing up this year's growth rate. "Sceptics will be forgiven for questioning whether NBS is trying to smooth GDP growth by shifting some of the recent weakness into the 2017 figures," said Julian Evans-Pritchard of Capital Economics in a note.

China economy grew at slowest pace in 28 years in 2018

The International Monetary Fund on Monday cut its <a href="http://www.wionews.com/business-economy/imf-says-trade-war-already-hurting-asia-may-cut-global-growth-forecasts-184777">world economic growth forecasts</a> for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy.

In its second downgrade in three months, <a href="http://www.wionews.com/world/america-first-imfs-lagarde-urges-us-others-to-reject-dystopian-path-181545">the global lender also cited</a> a bigger-than-expected slowdown in China's economy and a possible "No Deal" Brexit as risks to its outlook, saying these could worsen market turbulence in financial markets.

The IMF predicted the global economy to grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts.

The new forecasts, released ahead of this week's gathering of world leaders and business executives in the Swiss ski resort of Davos, show that policymakers may need to come up with plans to deal with an end to years of solid global growth.

"Risks to global growth tilt to the downside. An escalation of trade tensions beyond those already incorporated in the forecast remains a key source of risk to the outlook," the IMF said in an update to its World Economic Outlook report.

"Higher trade policy uncertainty and concerns over escalation and retaliation would lower business investment, disrupt supply chains and slow productivity growth. The resulting depressed outlook for corporate profitability could dent financial market sentiment and further dampen growth."

The downgrades reflected signs of weakness in Europe, with its export powerhouse Germany hurt by new fuel emission standards for cars and with Italy under market pressure due to Rome's recent budget standoff with the European Union.

Growth in the euro zone is set to moderate from 1.8 per cent in 2018 to 1.6 per cent in 2019, 0.3 percentage point lower than projected three months ago, the IMF said.

The IMF also cut its 2019 growth forecast for developing countries to 4.5 per cent, down 0.2 percentage point from the previous projection and a slowdown from 4.7 percent in 2018.

"Emerging market and developing economies have been tested by difficult external conditions over the past few months amid trade tensions, rising U.S. interest rates, dollar appreciation, capital outflows, and volatile oil prices," the IMF said.

The IMF maintained its U.S. growth projections of 2.5 per cent this year and 1.8 per cent in 2020, pointing to continued strength in domestic demand.

It also kept its China growth forecast at 6.2 per cent in both 2019 and 2020, but said economic activity could miss expectations if trade tensions persist, even with state efforts to spur growth by boosting fiscal spending and bank lending.

"As seen in 2015–16, concerns about the health of China's economy can trigger abrupt, wide-reaching sell-offs in financial and commodity markets that place its trading partners, commodity exporters, and other emerging markets under pressure," it said.

Britain is expected to achieve 1.5 per cent growth this year though there is uncertainty over the projection, which is based on the assumption of an orderly exit from the EU, the IMF said.

The rare bright spot was Japan, with the IMF revising up its forecast by 0.2 percentage point to 1.1 per cent this year due to an expected boost from the government's spending measures, which aim to offset a scheduled sales-tax hike in October.

The IMF has been urging policymakers to carry out structural reforms while the global economy enjoys solid growth, with its managing director, Christine Lagarde, telling them to "fix the roof while the sun is shining". The IMF has stressed the need to address income inequality and reform the financial sector.

However, as growth momentum peaks and risks to the outlook rise, policymakers must now focus on policies to prevent further slowdowns, the IMF said.

"The main shared policy priority is for countries to resolve cooperatively and quickly their trade disagreements and the resulting policy uncertainty, rather than raising harmful barriers further and destabilizing an already slowing global economy," it added.

The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy.

The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy. In its second downgrade in three months, the global lender also cited a bigger-than-expected slowdown in China's economy and a possible "No Deal" Brexit as risks to its outlook, saying these could worsen market turbulence in financial markets. The IMF predicted the global economy to grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts. The new forecasts, released ahead of this week's gathering of world leaders and business executives in the Swiss ski resort of Davos, show that policymakers may need to come up with plans to deal with an end to years of solid global growth. "Risks to global growth tilt to the downside. An escalation of trade tensions beyond those already incorporated in the forecast remains a key source of risk to the outlook," the IMF said in an update to its World Economic Outlook report. "Higher trade policy uncertainty and concerns over escalation and retaliation would lower business investment, disrupt supply chains and slow productivity growth. The resulting depressed outlook for corporate profitability could dent financial market sentiment and further dampen growth." The downgrades reflected signs of weakness in Europe, with its export powerhouse Germany hurt by new fuel emission standards for cars and with Italy under market pressure due to Rome's recent budget standoff with the European Union. Growth in the euro zone is set to moderate from 1.8 per cent in 2018 to 1.6 per cent in 2019, 0.3 percentage point lower than projected three months ago, the IMF said. The IMF also cut its 2019 growth forecast for developing countries to 4.5 per cent, down 0.2 percentage point from the previous projection and a slowdown from 4.7 percent in 2018. "Emerging market and developing economies have been tested by difficult external conditions over the past few months amid trade tensions, rising U.S. interest rates, dollar appreciation, capital outflows, and volatile oil prices," the IMF said. The IMF maintained its U.S. growth projections of 2.5 per cent this year and 1.8 per cent in 2020, pointing to continued strength in domestic demand. It also kept its China growth forecast at 6.2 per cent in both 2019 and 2020, but said economic activity could miss expectations if trade tensions persist, even with state efforts to spur growth by boosting fiscal spending and bank lending. "As seen in 2015–16, concerns about the health of China's economy can trigger abrupt, wide-reaching sell-offs in financial and commodity markets that place its trading partners, commodity exporters, and other emerging markets under pressure," it said. Britain is expected to achieve 1.5 per cent growth this year though there is uncertainty over the projection, which is based on the assumption of an orderly exit from the EU, the IMF said. The rare bright spot was Japan, with the IMF revising up its forecast by 0.2 percentage point to 1.1 per cent this year due to an expected boost from the government's spending measures, which aim to offset a scheduled sales-tax hike in October. The IMF has been urging policymakers to carry out structural reforms while the global economy enjoys solid growth, with its managing director, Christine Lagarde, telling them to "fix the roof while the sun is shining". The IMF has stressed the need to address income inequality and reform the financial sector. However, as growth momentum peaks and risks to the outlook rise, policymakers must now focus on policies to prevent further slowdowns, the IMF said. "The main shared policy priority is for countries to resolve cooperatively and quickly their trade disagreements and the resulting policy uncertainty, rather than raising harmful barriers further and destabilizing an already slowing global economy," it added.

IMF cuts global growth forecast due to US-China trade tensions

The BSE benchmark Sensex continued its winning run for the fifth straight session Monday, rallying 192 points, and the NSE Nifty inched toward the 11,000 mark, riding on stronger-than-expected Q3 earnings by some bluechip companies, coupled with positive global cues.

Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains.

Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 per cent. It touched a low of 36,351.77. The gauge had risen 533.05 points in the previous four sessions.

The Nifty touched the session high (intra-day) of 10,987.45; and finally closed the session with a rise of 54.90 points, or 0.50 per cent, at 10,961.85.

Both benchmark indices were driven by strong gains in IT, tech, oil &amp; gas, pharma and banking shares amid earnings optimism.

Stocks of software exporters were buyers' fancy as the rupee weakened. 
The rupee weakened against the dollar to 71.22 as Brent crude, the international benchmark, climbed to a two-month high of USD 62.94 per barrel.

Sentiment remained upbeat after Reliance Industries, HDFC Bank and few others posted better-than-expected Q3 numbers last week, traders said.

Most of the other Asian bourses rose with Shanghai leading the gains, as investors hoped for more stimulus from China after disappointing growth, amid optimism about the US and China progressing with trade talks.

China's economy grew at 6.6 per cent in 2018, its slowest rate in almost three decades as the world's second-biggest economy grappled with the effects of the current trade war with the US and declining exports.

In the three months to December, the economy grew 6.4 per cent from a year earlier, down from 6.5 per cent in the previous quarter.

Meanwhile, domestic institutional investors (DIIs) sold shares worth a net of Rs 124.91 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 97 crore on Friday, as per provisional data.

The BSE benchmark Sensex continued its winning run for the fifth straight session Monday, rallying 192 points, and the NSE Nifty inched toward the 11,000 mark, riding on stronger-than-expected Q3 earnings by some bluechip companies, coupled with positive global cues.

The BSE benchmark Sensex continued its winning run for the fifth straight session Monday, rallying 192 points, and the NSE Nifty inched toward the 11,000 mark, riding on stronger-than-expected Q3 earnings by some bluechip companies, coupled with positive global cues. Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains. Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 per cent. It touched a low of 36,351.77. The gauge had risen 533.05 points in the previous four sessions. The Nifty touched the session high (intra-day) of 10,987.45; and finally closed the session with a rise of 54.90 points, or 0.50 per cent, at 10,961.85. Both benchmark indices were driven by strong gains in IT, tech, oil & gas, pharma and banking shares amid earnings optimism. Stocks of software exporters were buyers' fancy as the rupee weakened. The rupee weakened against the dollar to 71.22 as Brent crude, the international benchmark, climbed to a two-month high of USD 62.94 per barrel. Sentiment remained upbeat after Reliance Industries, HDFC Bank and few others posted better-than-expected Q3 numbers last week, traders said. Most of the other Asian bourses rose with Shanghai leading the gains, as investors hoped for more stimulus from China after disappointing growth, amid optimism about the US and China progressing with trade talks. China's economy grew at 6.6 per cent in 2018, its slowest rate in almost three decades as the world's second-biggest economy grappled with the effects of the current trade war with the US and declining exports. In the three months to December, the economy grew 6.4 per cent from a year earlier, down from 6.5 per cent in the previous quarter. Meanwhile, domestic institutional investors (DIIs) sold shares worth a net of Rs 124.91 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 97 crore on Friday, as per provisional data.

Sensex closes 192 points higher, Nifty ends at 10,962; RIL surges 4 per cent

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai.

While diesel prices in the national capital were revised to Rs 65.71, Rs 68.81 in Mumbai, Rs 67.49 in Kolkata and Rs 69.41 in Chennai on Monday.

The prices of petrol were retailed at Rs 73.23 per litre in Kolkata and Rs 73.85 per litre in Chennai.

Petrol prices on Sunday were recorded at Rs 70.95 per litre in Delhi, Rs 76.58 in Mumbai, Rs 73.05 in Kolkata and Rs 73.65 in Chennai on Sunday.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai. While diesel prices in the national capital were revised to Rs 65.

Fuel prices continued to rise on Monday with prices of petrol reaching Rs 71.14 per litre in Delhi and Rs 76.77 per litre in Mumbai. While diesel prices in the national capital were revised to Rs 65.71, Rs 68.81 in Mumbai, Rs 67.49 in Kolkata and Rs 69.41 in Chennai on Monday. The prices of petrol were retailed at Rs 73.23 per litre in Kolkata and Rs 73.85 per litre in Chennai. Petrol prices on Sunday were recorded at Rs 70.95 per litre in Delhi, Rs 76.58 in Mumbai, Rs 73.05 in Kolkata and Rs 73.65 in Chennai on Sunday. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fuel prices continue to rise, petrol reaches Rs 71.14 per litre in Delhi, Rs 76.77 per litre in Mumbai

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC.

As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent.

PwC's Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019.

"India and France are likely to surpass the UK in the world's largest economy rankings in 2019, knocking it from fifth to seventh place in the global table," the report said.

According to World Bank data, <a href="http://www.wionews.com/photos/india-is-now-the-world%27s-sixth-largest-economy-150855">India became the world's sixth largest economy in 2017</a> surpassing France and was likely to go past the UK which stood at the fifth position.&nbsp;

PwC's Global Economy Watch is a short publication that looks at the trends and issues affecting the global economy and details its latest projections for the world's leading economies.

"India should return to a healthy growth rate of 7.6 per cent in 2019-20, if there are no major headwinds in the global economy such as enhanced trade tensions or supply side shocks in oil.

"The growth will be supported through further realisation of efficiency gains from the newly adopted GST and policy impetus expected in the first year of a new government," said Ranen Banerjee, Partner and Leader - Public Finance and Economics, PwC India.

Mike Jakeman, senior economist at PwC, said India is the fastest growing large economy in the world, with an enormous population, favourable demographics and high catch-up potential due to low initial GDP per head.

"The UK and France have regularly alternated in having the larger economy, but subdued growth in the UK in 2018 and again in 2019 is likely to tip the balance in France's favour. The relative strength of the euro against the pound is an important factor here," Jakeman said.

The global economy as a whole is expected to slow in 2019 as G7 countries return to long-run average growth rates, the PwC report said.

PwC expects that the pick-up in growth of most major economies seen between the end of 2016 and the beginning of 2018 is now over.

As per the World Bank data, in 2017, India became the sixth largest economy with a GDP of USD 2.59 trillion, relegating France to the seventh position. The GDP of France stood at USD 2.58 trillion.

The UK, which is facing Brexit blues, had a GDP of USD 2.62 trillion, which is about USD 25 billion more than that of India, the data showed.

The US was the world's largest economy with a size of USD 19.39 trillion, followed by China (USD 12.23 trillion) at the second place in 2017.

Japan (USD 4.87 trillion) and Germany (USD 3.67 trillion) were at the third and fourth places, respectively.&nbsp;

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC. As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent.

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC. As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent. PwC's Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019. "India and France are likely to surpass the UK in the world's largest economy rankings in 2019, knocking it from fifth to seventh place in the global table," the report said. According to World Bank data, India became the world's sixth largest economy in 2017 surpassing France and was likely to go past the UK which stood at the fifth position. PwC's Global Economy Watch is a short publication that looks at the trends and issues affecting the global economy and details its latest projections for the world's leading economies. "India should return to a healthy growth rate of 7.6 per cent in 2019-20, if there are no major headwinds in the global economy such as enhanced trade tensions or supply side shocks in oil. "The growth will be supported through further realisation of efficiency gains from the newly adopted GST and policy impetus expected in the first year of a new government," said Ranen Banerjee, Partner and Leader - Public Finance and Economics, PwC India. Mike Jakeman, senior economist at PwC, said India is the fastest growing large economy in the world, with an enormous population, favourable demographics and high catch-up potential due to low initial GDP per head. "The UK and France have regularly alternated in having the larger economy, but subdued growth in the UK in 2018 and again in 2019 is likely to tip the balance in France's favour. The relative strength of the euro against the pound is an important factor here," Jakeman said. The global economy as a whole is expected to slow in 2019 as G7 countries return to long-run average growth rates, the PwC report said. PwC expects that the pick-up in growth of most major economies seen between the end of 2016 and the beginning of 2018 is now over. As per the World Bank data, in 2017, India became the sixth largest economy with a GDP of USD 2.59 trillion, relegating France to the seventh position. The GDP of France stood at USD 2.58 trillion. The UK, which is facing Brexit blues, had a GDP of USD 2.62 trillion, which is about USD 25 billion more than that of India, the data showed. The US was the world's largest economy with a size of USD 19.39 trillion, followed by China (USD 12.23 trillion) at the second place in 2017. Japan (USD 4.87 trillion) and Germany (USD 3.67 trillion) were at the third and fourth places, respectively.

World's largest economies: India likely to surpass UK this year, says PwC

<a href="http://www.wionews.com/business-economy/fpis-turn-net-sellers-in-january-withdraw-rs-3600-cr-in-just-9-sessions-189987">Foreign investors</a> have pulled out more than Rs 4,000 crore from the Indian capital markets so far in January, highlighting their cautious stance towards the country.

This comes following a collective net inflow of over Rs 17,000 crore in the capital markets — both equity and debt — by Foreign Portfolio Investors (FPIs) during November and December.

Prior to that, they had pulled out a massive Rs 38,905 crore in October.

According to data available with the depositories, FPIs withdrew a net amount of Rs 3,987 crore from equities and a net sum of Rs 53 crore from the debt market, taking the total outflow to Rs 4,040 crore during January 1-18.

Market experts believe that FPIs are continuing with their 'wait and watch' approach towards India.

Going ahead, the focus would be on the budget, progress on the economic growth front and general elections, they added.

Other factors such as movement in crude prices and currency as well as <a href="http://www.wionews.com/world/no-breakthrough-in-us-china-trade-talks-trump-adviser-191392">US-China trade relations</a> will also play a role in FPI flows, they added.

Harsh Jain, COO at Groww, an online MF investment platform, said 2019 is likely to see a lot of volatility because of the rate hikes and dollar instability, but the Indian markets may be able to weather the storm.

"India offers better investment opportunities due to consistent growth, supportive global factors and attract valuations. We should expect positive inflow in coming months," he added.&nbsp;

Market experts believe that FPIs are continuing with their 'wait and watch' approach towards India.

Foreign investors have pulled out more than Rs 4,000 crore from the Indian capital markets so far in January, highlighting their cautious stance towards the country. This comes following a collective net inflow of over Rs 17,000 crore in the capital markets — both equity and debt — by Foreign Portfolio Investors (FPIs) during November and December. Prior to that, they had pulled out a massive Rs 38,905 crore in October. According to data available with the depositories, FPIs withdrew a net amount of Rs 3,987 crore from equities and a net sum of Rs 53 crore from the debt market, taking the total outflow to Rs 4,040 crore during January 1-18. Market experts believe that FPIs are continuing with their 'wait and watch' approach towards India. Going ahead, the focus would be on the budget, progress on the economic growth front and general elections, they added. Other factors such as movement in crude prices and currency as well as US-China trade relations will also play a role in FPI flows, they added. Harsh Jain, COO at Groww, an online MF investment platform, said 2019 is likely to see a lot of volatility because of the rate hikes and dollar instability, but the Indian markets may be able to weather the storm. "India offers better investment opportunities due to consistent growth, supportive global factors and attract valuations. We should expect positive inflow in coming months," he added.

FPI outflow crosses Rs 4,000 crore in January so far

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively.&nbsp;

Diesel, on the other hand, was selling for Rs 65.45 per litre - up by Rs 0.29 - in Delhi. A litre of diesel is selling for Rs 68.53, up by Rs. 0.31, in Mumbai.

<a href="http://www.wionews.com/business-economy/fresh-hike-in-fuel-prices-on-saturday-191380">Fuel prices witnessed a fresh hike on Saturday</a>, adding to commuters' woes.

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
Petrol and diesel prices at Rs 70.95/litre (increase by Rs 0.23) &amp; Rs 65.45/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs 76.58/litre (increase by Rs. 0.23) &amp; Rs 68.53/litre (increase by Rs. 0.31), respectively in Mumbai. <a href="https://t.co/qra9C6i9wQ">pic.twitter.com/qra9C6i9wQ</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1086810260915011585?ref_src=twsrc%5Etfw">January 20, 2019</a></blockquote>
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In New Delhi, petrol was being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike.

Also, petrol was retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai on Saturday.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

(With inputs from ANI)&nbsp;

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively. Diesel, on the other hand, was selling for Rs 65.

Petrol prices on Sunday in the national capital and in Mumbai rose by Rs 0.23 at Rs 70.95 per litre and Rs 76.58 respectively. Diesel, on the other hand, was selling for Rs 65.45 per litre - up by Rs 0.29 - in Delhi. A litre of diesel is selling for Rs 68.53, up by Rs. 0.31, in Mumbai. Fuel prices witnessed a fresh hike on Saturday, adding to commuters' woes. Petrol and diesel prices at Rs 70.95/litre (increase by Rs 0.23) & Rs 65.45/litre (increase by Rs. 0.29), respectively in Delhi. Petrol and diesel prices at Rs 76.58/litre (increase by Rs. 0.23) & Rs 68.53/litre (increase by Rs. 0.31), respectively in Mumbai. pic.twitter.com/qra9C6i9wQ — ANI (@ANI) January 20, 2019 × In New Delhi, petrol was being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike. Also, petrol was retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai on Saturday. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future. (With inputs from ANI)

Fuel prices continue to rise, petrol up by 23 paise in Delhi, Mumbai

Japanese media reported Sunday that France wants a merger between Renault and Nissan following the arrest of <a href="http://www.wionews.com/world/ghosn-appeals-against-japan-bail-rejection-190912">former Nissan chairman Carlos Ghosn</a>, but according to France's economy minister changing the current set-up is "not on the table".

Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct.

A delegation including Martin Vial — a Renault director designated by the French government — made the merger request at talks with Japanese officials in Tokyo, Kyodo News reported, citing sources close to the matter.

The French government is the biggest shareholder in Renault with a stake of more than 15 per cent, while Renault owns 43.4 per cent of the Japanese carmaker Nissan with voting rights.

A merger between the two is favoured by French President Emmanuel Macron, Kyodo said.

Japanese business daily Nikkei also reported the merger request by the French delegation, saying Nissan had been opposed to giving Paris greater sway over the Japanese carmaker.

According to Nikkei, the delegation also said Renault wants to name Nissan's next chairman — a post that has remained vacant since <a href="http://www.wionews.com/world/tokyo-court-denies-the-request-for-carlos-ghosns-release-on-bail-190413">Ghosn was ousted on his arrest</a> in November.

But the reports appear to contradict comments French Economy Minister Bruno Le Maire made to Le Journal du Dimanche (JDD) newspaper, published Sunday.

"A shareholder rebalancing, a change in cross-shareholdings between Renault and Nissan is not on the table," he told the French weekly.

Contacted by AFP, a French economy ministry spokesman had no comment to make on the Japanese media reports.

A 'stable relationship'&nbsp;

Macron last month held talks with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 summit in Argentina, at which they only agreed to ensure a stable relationship within the three-way alliance, which also includes Japan's Mitsubishi Motors.

Abe reportedly stressed the importance of all three companies "maintaining their stable relationship" at the summit talk.

But the Japanese premier reportedly also said the fate of the group should be decided by "private businesses" and "governments should not commit to how the alliance should operate going forward", according to a senior government official quoted by Kyodo.

Last week, Renault said it had launched the search for a successor to Ghosn after a Tokyo court quashed his appeal for bail as he faces three charges of financial misconduct.

But Le Maire also said in his interview with the JDD newspaper: "The principle of the presumption of innocence must apply" to Ghosn.

But over and above Ghosn's case, "there are also the interests of Renault and of the alliance", he added. "A business of this scale needs solid and stable governance."

The French government has called for a board meeting to pick Ghosn's successor.

Nissan, which holds a 15-per cent stake in Renault, is widely seen as hoping to reduce the influence of the French partner on its management and review the alliance to make it more equitable.

Carlos Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct.

Japanese media reported Sunday that France wants a merger between Renault and Nissan following the arrest of former Nissan chairman Carlos Ghosn, but according to France's economy minister changing the current set-up is "not on the table". Ghosn headed a powerful alliance between Nissan, Mitsubishi, and Renault before his arrest in November on charges of financial misconduct. A delegation including Martin Vial — a Renault director designated by the French government — made the merger request at talks with Japanese officials in Tokyo, Kyodo News reported, citing sources close to the matter. The French government is the biggest shareholder in Renault with a stake of more than 15 per cent, while Renault owns 43.4 per cent of the Japanese carmaker Nissan with voting rights. A merger between the two is favoured by French President Emmanuel Macron, Kyodo said. Japanese business daily Nikkei also reported the merger request by the French delegation, saying Nissan had been opposed to giving Paris greater sway over the Japanese carmaker. According to Nikkei, the delegation also said Renault wants to name Nissan's next chairman — a post that has remained vacant since Ghosn was ousted on his arrest in November. But the reports appear to contradict comments French Economy Minister Bruno Le Maire made to Le Journal du Dimanche (JDD) newspaper, published Sunday. "A shareholder rebalancing, a change in cross-shareholdings between Renault and Nissan is not on the table," he told the French weekly. Contacted by AFP, a French economy ministry spokesman had no comment to make on the Japanese media reports. A 'stable relationship' Macron last month held talks with Japanese Prime Minister Shinzo Abe on the sidelines of the G20 summit in Argentina, at which they only agreed to ensure a stable relationship within the three-way alliance, which also includes Japan's Mitsubishi Motors. Abe reportedly stressed the importance of all three companies "maintaining their stable relationship" at the summit talk. But the Japanese premier reportedly also said the fate of the group should be decided by "private businesses" and "governments should not commit to how the alliance should operate going forward", according to a senior government official quoted by Kyodo. Last week, Renault said it had launched the search for a successor to Ghosn after a Tokyo court quashed his appeal for bail as he faces three charges of financial misconduct. But Le Maire also said in his interview with the JDD newspaper: "The principle of the presumption of innocence must apply" to Ghosn. But over and above Ghosn's case, "there are also the interests of Renault and of the alliance", he added. "A business of this scale needs solid and stable governance." The French government has called for a board meeting to pick Ghosn's successor. Nissan, which holds a 15-per cent stake in Renault, is widely seen as hoping to reduce the influence of the French partner on its management and review the alliance to make it more equitable.

France pushes Japan to accept Renault-Nissan merger: Reports

US stocks rallied on Friday, helping Wall Street's major indexes advance for the fourth consecutive week, as increased hopes the United States and China would resolve their trade dispute lifted shares across sectors.

The market was boosted after a Bloomberg report said China sought to raise its annual goods imports from the United States by a combined value of more than $1 trillion in order to reduce its trade surplus to zero by 2024.

The news followed a report on Thursday that US Treasury Secretary Steven Mnuchin was considering lifting some or all tariffs imposed on Chinese imports. A Treasury spokesman denied Mnuchin had made any such recommendation.

A strong rally in January has put the benchmark S&amp;P 500 index on track for its best monthly gain since March 2016. The S&amp;P 500 is now 8.9 per cent below its September 20 record close after dropping 19.8 per cent below that level - near the 20-per cent threshold commonly considered to confirm a bear market - on Christmas Eve.

"It's risk-on again," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "We've gotten an olive branch from China regarding trade. Obviously, there's been a very positive reaction from the market."

The Dow Jones Industrial Average rose 336.25 points, or 1.38 per cent, to 24,706.35, the S&amp;P 500 gained 34.75 points, or 1.32 per cent, to 2,670.71 and the Nasdaq Composite added 72.77 points, or 1.03 per cent, to 7,157.23.

For the week, the Dow rose 2.96 per cent, the S&amp;P 500 gained 2.87 per cent, and the Nasdaq added 2.66 per cent. All three indexes registered their biggest four-week percentage gain since October 2011.

US stock markets will be closed on Monday for the Martin Luther King Jr. holiday.

Industrial stocks rose 1.9 per cent, the second-most among the S&amp;P 500's major sectors, while the Philadelphia SE semiconductor index climbed 2.3 per cent. Both groups of shares have been sensitive to trade developments.

Technology stocks were the biggest boost to the S&amp;P 500, rising 1.5 per cent.

Even with the session's gains, relatively light trading volume during the week indicated some investors were still waiting on the sidelines. On Friday, volume on US exchanges was 7.99 billion shares, compared to the 8.44 billion average over the last 20 trading days.

"A lot of people have liquidated their positions coming into earnings so that they can react quickly as earnings come out," said Mark Otto, global market commentator at GTS in New York.

Analysts have lowered their fourth-quarter earnings forecast for S&amp;P 500 companies to 14.2 per cent year-over-year growth from 20.1 per cent estimated on October 1, according to IBES data from Refinitiv.

Shares of Schlumberger NV jumped 8.1 per cent after the oilfield services provider reported quarterly revenue that beat estimates.

Shares of Netflix Inc, however, fell 4.0 per cent after the video-streaming company forecast lower-than-expected revenue for the first quarter.

Advancing issues outnumbered declining ones on the NYSE by a 2.93-to-1 ratio; on Nasdaq, a 2.26-to-1 ratio favoured advancers.

The S&amp;P 500 posted three new 52-week highs and no new lows; the Nasdaq Composite recorded 32 new highs and 22 new lows. 
&nbsp;

For the week, the Dow rose 2.96 per cent, the S&P 500 gained 2.87 per cent, and the Nasdaq added 2.66 per cent.

US stocks rallied on Friday, helping Wall Street's major indexes advance for the fourth consecutive week, as increased hopes the United States and China would resolve their trade dispute lifted shares across sectors. The market was boosted after a Bloomberg report said China sought to raise its annual goods imports from the United States by a combined value of more than $1 trillion in order to reduce its trade surplus to zero by 2024. The news followed a report on Thursday that US Treasury Secretary Steven Mnuchin was considering lifting some or all tariffs imposed on Chinese imports. A Treasury spokesman denied Mnuchin had made any such recommendation. A strong rally in January has put the benchmark S&P 500 index on track for its best monthly gain since March 2016. The S&P 500 is now 8.9 per cent below its September 20 record close after dropping 19.8 per cent below that level - near the 20-per cent threshold commonly considered to confirm a bear market - on Christmas Eve. "It's risk-on again," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "We've gotten an olive branch from China regarding trade. Obviously, there's been a very positive reaction from the market." The Dow Jones Industrial Average rose 336.25 points, or 1.38 per cent, to 24,706.35, the S&P 500 gained 34.75 points, or 1.32 per cent, to 2,670.71 and the Nasdaq Composite added 72.77 points, or 1.03 per cent, to 7,157.23. For the week, the Dow rose 2.96 per cent, the S&P 500 gained 2.87 per cent, and the Nasdaq added 2.66 per cent. All three indexes registered their biggest four-week percentage gain since October 2011. US stock markets will be closed on Monday for the Martin Luther King Jr. holiday. Industrial stocks rose 1.9 per cent, the second-most among the S&P 500's major sectors, while the Philadelphia SE semiconductor index climbed 2.3 per cent. Both groups of shares have been sensitive to trade developments. Technology stocks were the biggest boost to the S&P 500, rising 1.5 per cent. Even with the session's gains, relatively light trading volume during the week indicated some investors were still waiting on the sidelines. On Friday, volume on US exchanges was 7.99 billion shares, compared to the 8.44 billion average over the last 20 trading days. "A lot of people have liquidated their positions coming into earnings so that they can react quickly as earnings come out," said Mark Otto, global market commentator at GTS in New York. Analysts have lowered their fourth-quarter earnings forecast for S&P 500 companies to 14.2 per cent year-over-year growth from 20.1 per cent estimated on October 1, according to IBES data from Refinitiv. Shares of Schlumberger NV jumped 8.1 per cent after the oilfield services provider reported quarterly revenue that beat estimates. Shares of Netflix Inc, however, fell 4.0 per cent after the video-streaming company forecast lower-than-expected revenue for the first quarter. Advancing issues outnumbered declining ones on the NYSE by a 2.93-to-1 ratio; on Nasdaq, a 2.26-to-1 ratio favoured advancers. The S&P 500 posted three new 52-week highs and no new lows; the Nasdaq Composite recorded 32 new highs and 22 new lows.

Wall Street extends rally on US-China trade optimism

Fuel prices witnessed a fresh hike on Saturday, adding to commuters' woes.

In New Delhi, petrol is being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike.

Also, petrol is retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai.

The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

In New Delhi, petrol is being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike.

Fuel prices witnessed a fresh hike on Saturday, adding to commuters' woes. In New Delhi, petrol is being sold 17 paise higher at Rs 70.72/litre, and diesel at Rs 65.16/litre after a 19 paise hike. Also, petrol is retailing at Rs 76.35/litre (increased by 17 paise) and diesel at Rs. 68.22/litre (increased by 20 paise) in Mumbai. The rise in prices comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Fresh hike in fuel prices, petrol rises by 17 paise in Delhi, Mumbai

US oil prices inched higher on Friday after a report from the Organisation of the Petroleum Exporting Countries showed its production fell sharply last month, easing fears about prolonged oversupply.

US West Texas Intermediate (WTI) crude futures were at $52.40 per barrel at 0026 GMT, up 32 cents, or 0.6 per cent, from their last settlement. WTI futures closed down 0.4 per cent on Thursday.

International Brent crude oil futures had yet to trade, after closing up 1.1 per cent in the previous session.

OPEC cut oil output sharply in December before a new accord to limit supply took effect on January 1, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand.

"The OPEC+ production cuts (that stared this month) will be paramount to keeping the market tight and supporting prices," ANZ said in a research note. The body is making cuts along with other major producers such as Russia.

OPEC said in its monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years.&nbsp;

But tempering that support for prices, OPEC also cut its forecast for average daily demand for its crude in 2019 to 30.83 million barrels, down 910,000 bpd from the 2018 average.

US oil prices inched higher on Friday after a report from the Organisation of the Petroleum Exporting Countries showed its production fell sharply last month, easing fears about prolonged oversupply.

US oil prices inched higher on Friday after a report from the Organisation of the Petroleum Exporting Countries showed its production fell sharply last month, easing fears about prolonged oversupply. US West Texas Intermediate (WTI) crude futures were at $52.40 per barrel at 0026 GMT, up 32 cents, or 0.6 per cent, from their last settlement. WTI futures closed down 0.4 per cent on Thursday. International Brent crude oil futures had yet to trade, after closing up 1.1 per cent in the previous session. OPEC cut oil output sharply in December before a new accord to limit supply took effect on January 1, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. "The OPEC+ production cuts (that stared this month) will be paramount to keeping the market tight and supporting prices," ANZ said in a research note. The body is making cuts along with other major producers such as Russia. OPEC said in its monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in almost two years. But tempering that support for prices, OPEC also cut its forecast for average daily demand for its crude in 2019 to 30.83 million barrels, down 910,000 bpd from the 2018 average.

Oil prices edge up as OPEC says its crude output fell sharply in December

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30.

US stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that US Trade Representative Robert Lighthizer has resisted Mnuchin`s idea. For the day, all three major US indexes were up, led by a surge in industrial stocks.&nbsp;

Even the whiff of progress in the months-long Sino-U.S. trade war helped boost risk sentiment. MSCI`s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent. The index has gained 1.4 per cent this week.

The Shanghai Composite Index was up 0.8 per cent.

Australian stocks rose 0.5 per cent, as did South Korea`s KOSPI while Japan`s Nikkei gained more than 1 per cent to a one-month high.

"As with 2018, the U.S.-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides are seeking some sort of a resolution," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.

"China seems to be running low on options, while the United States would also want to avoid a prolonged conflict given the negative consequences on its markets and the economy," Monji said.

Chinese Vice Premier Liu He will visit the United States on January 30 and 31 for the latest round of trade talks aimed at resolving the dispute between the world`s two largest economies.

In December, Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods.

Indicators released recently have shown signs that the Chinese economy is losing some momentum.

China`s fourth-quarter economic growth, due to be reported on Monday, likely slowed to the weakest pace since the global financial crisis, a Reuters poll showed, as demand faltered at home and abroad.

The dollar was mildly supported after US Treasury yields rose amid the improvement in risk appetite in the broader markets.

The greenback was a shade higher at 109.320 yen after popping up to a two-week high of 109.40 overnight. The dollar has gained about 0.7 per cent against the Japanese currency this week.

The euro was little changed at $1.1393 after dipping slightly overnight. The common currency was on track for a weekly loss of 0.7 per cent.

The 10-year Treasury yield stood at 2.750 per cent after going brushing 2.761 per cent the previous day, its highest in three weeks.

The pound traded at $1.2978, hovering close to a two-month peak of $1.3001 scaled overnight on the back of hopes that Britain can avoid a no-deal Brexit.

British Prime Minister Theresa May`s Brexit deal suffered a heavy defeat in parliament this week but she survived a subsequent vote of confidence, removing some political uncertainty for now.

US crude oil futures extended gains after rising the previous day on a bounce in Wall Street and news that OPEC sharply curtailed production in December.&nbsp;

US crude futures added 1 per cent to $52.61 per barrel. The contracts have gained more than 2 per cent this week.

Brent crude was up 0.8 per cent at $61.67 per barrel and on track to gain 2 per cent on the week.

Elsewhere in commodities, palladium was 0.6 per cent higher at $1,403.50 an ounce after rising to an all-time high of $1,434.50 overnight.

Demand has recently outstripped supply for the metal, used in emissions-reducing catalytic converters for cars. Palladium also appeared to get a boost from hopes for further government stimulus in China, the world`s biggest auto market.&nbsp;

Spot gold was steady at $1,291.56 an ounce, having relinquished its spot as the most expensive precious metal to palladium early in December.

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment. The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30.

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment. The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30. US stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that US Trade Representative Robert Lighthizer has resisted Mnuchin`s idea. For the day, all three major US indexes were up, led by a surge in industrial stocks. Even the whiff of progress in the months-long Sino-U.S. trade war helped boost risk sentiment. MSCI`s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent. The index has gained 1.4 per cent this week. The Shanghai Composite Index was up 0.8 per cent. Australian stocks rose 0.5 per cent, as did South Korea`s KOSPI while Japan`s Nikkei gained more than 1 per cent to a one-month high. "As with 2018, the U.S.-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides are seeking some sort of a resolution," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo. "China seems to be running low on options, while the United States would also want to avoid a prolonged conflict given the negative consequences on its markets and the economy," Monji said. Chinese Vice Premier Liu He will visit the United States on January 30 and 31 for the latest round of trade talks aimed at resolving the dispute between the world`s two largest economies. In December, Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods. Indicators released recently have shown signs that the Chinese economy is losing some momentum. China`s fourth-quarter economic growth, due to be reported on Monday, likely slowed to the weakest pace since the global financial crisis, a Reuters poll showed, as demand faltered at home and abroad. The dollar was mildly supported after US Treasury yields rose amid the improvement in risk appetite in the broader markets. The greenback was a shade higher at 109.320 yen after popping up to a two-week high of 109.40 overnight. The dollar has gained about 0.7 per cent against the Japanese currency this week. The euro was little changed at $1.1393 after dipping slightly overnight. The common currency was on track for a weekly loss of 0.7 per cent. The 10-year Treasury yield stood at 2.750 per cent after going brushing 2.761 per cent the previous day, its highest in three weeks. The pound traded at $1.2978, hovering close to a two-month peak of $1.3001 scaled overnight on the back of hopes that Britain can avoid a no-deal Brexit. British Prime Minister Theresa May`s Brexit deal suffered a heavy defeat in parliament this week but she survived a subsequent vote of confidence, removing some political uncertainty for now. US crude oil futures extended gains after rising the previous day on a bounce in Wall Street and news that OPEC sharply curtailed production in December. US crude futures added 1 per cent to $52.61 per barrel. The contracts have gained more than 2 per cent this week. Brent crude was up 0.8 per cent at $61.67 per barrel and on track to gain 2 per cent on the week. Elsewhere in commodities, palladium was 0.6 per cent higher at $1,403.50 an ounce after rising to an all-time high of $1,434.50 overnight. Demand has recently outstripped supply for the metal, used in emissions-reducing catalytic converters for cars. Palladium also appeared to get a boost from hopes for further government stimulus in China, the world`s biggest auto market. Spot gold was steady at $1,291.56 an ounce, having relinquished its spot as the most expensive precious metal to palladium early in December.

Global Markets: Asia stocks advance on US-China trade relief

The BSE benchmark Sensex and NSE Nifty Friday started on a volatile note tracking heavy selling on pharma and banking counters amid weakening rupee.

After opening marginally higher, the 30-share index turned negative and was trading 79.53 points, or 0.22 per cent, lower at 36,294.55 in early trade. Similarly, the NSE Nifty slipped 16.25 points, or 0.15 per cent, to 10,888.95.

On Thursday, the Sensex settled 52.79 points, or 0.15 per cent, higher at 36,374.08; and the broader NSE Nifty inched up 14.90 points, or 0.14 per cent, to 10,905.20.

In morning session on Friday, Sun Pharma was the biggest loser on Sensex, cracking up to 10 per cent.

Other losers were Yes Bank, Bharti Airtel, HUL, Axis Bank, M&amp;M, Coal India, Asian Paints, Tata Motors and TCS, shedding up to 1.49 per cent.

ONGC, PowerGrid, RIL, Vedanta and Maruti were the top gainers, rising up to 1 per cent.

On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed.

According to analysts, global trade tensions and risk of recession will cast cloud over the sentiment; while lack of major triggers in the domestic market could steer a range bound movement in the near term.

The rupee, meanwhile, depreciated 18 paise against the US dollar to 71.21.

The benchmark Brent crude futures rose 0.88 per cent to $61.72 per barrel.

Elsewhere in Asia, Hong Kong's Hang Seng was up 0.94 per cent, Shanghai Composite Index was trading 0.79 per cent higher, Kospi rose 0.55 per cent in early trade and Japan's Nikkei rallied 1.26 per cent.

On Wall Street, Dow Jones Industrial Average ended 0.67 per cent higher at 24,370.10 points on Thursday.

The BSE benchmark Sensex and NSE Nifty Friday started on a volatile note tracking heavy selling on pharma and banking counters amid weakening rupee. After opening marginally higher, the 30-share index turned negative and was trading 79.

The BSE benchmark Sensex and NSE Nifty Friday started on a volatile note tracking heavy selling on pharma and banking counters amid weakening rupee. After opening marginally higher, the 30-share index turned negative and was trading 79.53 points, or 0.22 per cent, lower at 36,294.55 in early trade. Similarly, the NSE Nifty slipped 16.25 points, or 0.15 per cent, to 10,888.95. On Thursday, the Sensex settled 52.79 points, or 0.15 per cent, higher at 36,374.08; and the broader NSE Nifty inched up 14.90 points, or 0.14 per cent, to 10,905.20. In morning session on Friday, Sun Pharma was the biggest loser on Sensex, cracking up to 10 per cent. Other losers were Yes Bank, Bharti Airtel, HUL, Axis Bank, M&M, Coal India, Asian Paints, Tata Motors and TCS, shedding up to 1.49 per cent. ONGC, PowerGrid, RIL, Vedanta and Maruti were the top gainers, rising up to 1 per cent. On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed. According to analysts, global trade tensions and risk of recession will cast cloud over the sentiment; while lack of major triggers in the domestic market could steer a range bound movement in the near term. The rupee, meanwhile, depreciated 18 paise against the US dollar to 71.21. The benchmark Brent crude futures rose 0.88 per cent to $61.72 per barrel. Elsewhere in Asia, Hong Kong's Hang Seng was up 0.94 per cent, Shanghai Composite Index was trading 0.79 per cent higher, Kospi rose 0.55 per cent in early trade and Japan's Nikkei rallied 1.26 per cent. On Wall Street, Dow Jones Industrial Average ended 0.67 per cent higher at 24,370.10 points on Thursday.

Sensex, Nifty start on volatile note amid weakening rupee

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge.

Speaking a fortnight ahead of the Budget, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation.

"Our farmers have increased productivity and we have moved into a surplus area. Management of the surplus is constituting a challenge for us for the last several years...&nbsp;The prices have fallen," Jaitley said.

The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony.

The fall in food prices in the last few months indicated the poor income farmers are making, he said.

"Situations like calamity, drought, stress...(spending to tackle them) can't be considered as populist expenditure," he said, exuding confidence that markets can distinguish between a populist measure and something driven by a compelling situation.

Stating that the government has notched up success in many areas but is also facing challenges, he said some of them need urgent action.

"Some of those challenges really can't afford to wait. Therefore, obviously, there will be a necessity to address some of them. It has happened in the past. Therefore, we intend working within the parameters of the conventions that exist," he said.

Jaitley, however, refrained from shedding more light on the government's plans ahead of the Budget.

The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said.

It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent.

Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit.

On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently.

The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said.&nbsp;

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge.

Amid speculation that the BJP-led central government may introduce an income support scheme, Finance Minister Arun Jaitley Thursday said food surpluses have caused both food prices and farmers' income to plunge, posing a policy challenge. Speaking a fortnight ahead of the Budget, he underlined that there have been precedents of interim budgets containing major policy announcements to tackle an urgent situation. "Our farmers have increased productivity and we have moved into a surplus area. Management of the surplus is constituting a challenge for us for the last several years... The prices have fallen," Jaitley said. The finance minister, currently undergoing treatment in New York, was speaking through video conferencing at an award ceremony. The fall in food prices in the last few months indicated the poor income farmers are making, he said. "Situations like calamity, drought, stress...(spending to tackle them) can't be considered as populist expenditure," he said, exuding confidence that markets can distinguish between a populist measure and something driven by a compelling situation. Stating that the government has notched up success in many areas but is also facing challenges, he said some of them need urgent action. "Some of those challenges really can't afford to wait. Therefore, obviously, there will be a necessity to address some of them. It has happened in the past. Therefore, we intend working within the parameters of the conventions that exist," he said. Jaitley, however, refrained from shedding more light on the government's plans ahead of the Budget. The government has been moving on "a glide path" on the fiscal consolidation front unless some "unusual situation" demanded something, he said. It can be noted that as per the data available till November, the government has already breached its budgeted fiscal deficit target of 3.3 per cent. Economists have raised the fear that the government may announce populist measures ahead of elections, which may lead to a higher fiscal deficit. On the RBI, Jaitley said the government and the central bank have always had consultations despite some differences that played out recently. The government raising its concerns should not be construed as a breach of RBI's autonomy, as in a consultative process one has to express oneself freely and frankly, the finance minister said.

Food surpluses have led to dip in farmers' income: Arun Jaitley

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the <a href="https://www.google.com/url?q=http://www.wionews.com/opinions/why-there-will-be-no-winners-from-the-us-china-trade-war-191220&amp;sa=U&amp;ved=0ahUKEwjh79XyqfffAhUK448KHd3VBv8QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0J249ya864ZWnj0ZufEEXj">US-China trade war</a>.

European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal.

US stocks gained Thursday on the report, recovering from a wobble triggered by news that the US was carrying out a criminal probe into Chinese tech giant Huawei.&nbsp;

"Global markets are enjoying an overwhelmingly bullish end to the week, with hopes of a potential breakthrough in US-China trade talks helping drive optimism throughout both Asia and now Europe," said Joshua Mahony, senior market analyst at traders IG.

The WSJ reported that US Treasury Secretary Steven Mnuchin had raised the idea with US Trade Representative Robert Lighthizer of removing some or all levies on Beijing in return for structural reforms.

It said the move was part of a bid to reassure markets and bolster the odds of a bigger trade deal, ending a months-long saga that is beginning to impact economies around the world, particularly China.

However, the Treasury Department told AFP that no formal recommendation had been made by either Mnuchin or Lighthizer in the talks, which were "nowhere near completion".

"The US government has said that there have been no formal talks to scale back tariffs, but the market saw the half glass full as the reports signal that concessions are in the works," said Alfonso Esparza, senior market analyst at OANDA.

However, there was scepticism among some analysts, with the two sides still far apart on a number of issues, particularly regarding intellectual property.

On currency markets, the pound edged up and was sitting around two-month highs against the dollar as dealers bet that Britain would not leave the European Union without a deal.

After her grand <a href="https://www.google.com/url?q=http://www.wionews.com/world/britains-may-to-miss-davos-to-focus-on-brexit-downing-street-191092&amp;sa=U&amp;ved=0ahUKEwizlJClqvffAhVLpY8KHbAIC24QFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2eX0qY6dSj_XORRz7exnwj">Brexit </a>plan was soundly rebuffed by MPs this week, British Prime Minister Theresa May has called cross-party talks to put together a "Plan B" by Monday.

If that does not work, there is a growing expectation that the March 29 exit deadline will be pushed back to give May more time to reach another deal or possibly call another referendum.

Oil prices meanwhile rose on the China-US tariffs report and after OPEC said it had cut output in December before a new agreement to limit supply took effect.

Both main contracts are up around a fifth since the end of December, thanks to an agreement to cut output by OPEC and other key producers including Russia.&nbsp;

That followed almost three months of losses that wiped around 40 per cent off prices amid concerns supply was running ahead of demand.

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the US-China trade war. European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal.

Stock markets rebounded more than one per cent Friday, buoyed by hopes of a breakthrough in the US-China trade war. European and Asian indices bounced back after the Wall Street Journal (WSJ) reported that the US was considering lifting tariffs on China as officials look to hammer out a trade deal. US stocks gained Thursday on the report, recovering from a wobble triggered by news that the US was carrying out a criminal probe into Chinese tech giant Huawei. "Global markets are enjoying an overwhelmingly bullish end to the week, with hopes of a potential breakthrough in US-China trade talks helping drive optimism throughout both Asia and now Europe," said Joshua Mahony, senior market analyst at traders IG. The WSJ reported that US Treasury Secretary Steven Mnuchin had raised the idea with US Trade Representative Robert Lighthizer of removing some or all levies on Beijing in return for structural reforms. It said the move was part of a bid to reassure markets and bolster the odds of a bigger trade deal, ending a months-long saga that is beginning to impact economies around the world, particularly China. However, the Treasury Department told AFP that no formal recommendation had been made by either Mnuchin or Lighthizer in the talks, which were "nowhere near completion". "The US government has said that there have been no formal talks to scale back tariffs, but the market saw the half glass full as the reports signal that concessions are in the works," said Alfonso Esparza, senior market analyst at OANDA. However, there was scepticism among some analysts, with the two sides still far apart on a number of issues, particularly regarding intellectual property. On currency markets, the pound edged up and was sitting around two-month highs against the dollar as dealers bet that Britain would not leave the European Union without a deal. After her grand Brexit plan was soundly rebuffed by MPs this week, British Prime Minister Theresa May has called cross-party talks to put together a "Plan B" by Monday. If that does not work, there is a growing expectation that the March 29 exit deadline will be pushed back to give May more time to reach another deal or possibly call another referendum. Oil prices meanwhile rose on the China-US tariffs report and after OPEC said it had cut output in December before a new agreement to limit supply took effect. Both main contracts are up around a fifth since the end of December, thanks to an agreement to cut output by OPEC and other key producers including Russia. That followed almost three months of losses that wiped around 40 per cent off prices amid concerns supply was running ahead of demand.

Stock markets rebound on China-US trade breakthrough hopes Wrap Markets