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The BSE Sensex opened 112 points lower and turned rangebound today amid losses in metal, healthcare, realty, consumer durables and banking counters, ahead of the US Fed&#39;s key policy meet that begins later in the day.

A weak trend in other Asian markets, following overnight losses Wall Street, dampened market sentiment here, brokers said.

The 30-share barometer fell 112.26 points, or 0.34 per cent, to 32,810.86 in opening session.

The gauge, however, turned positive to trade 42.34 points, or 0.13 per cent, higher at 32,965.46. It had lost 994.82 in the previous five sessions.

The NSE Nifty also opened 45.15 points, or 0.44 per cent, lower at 10,049.10.

Sectoral indices led by metal, healthcare, realty, consumer durable and banking stocks were trading in the negative terrain, falling by up to 1.38 per cent.

The laggards were Bharti Airtel, NTPC, Kotak Bank, M&amp;M, IndusInd Bank, Axis Bank, Sun Pharma and ITC, falling up to 1.42 per cent.

Tata Steel, Adani Ports, Tata Motors and Infosys were among the top gainers, rising up to 3 per cent.

Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 191.52 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on yesterday, provisional data released by the stock exchanges showed.

In the Asian region, Hong Kong&#39;s Hang Seng fell 0.72 per cent, Japan&#39;s Nikkei shed 0.09 per cent, while Shanghai Composite Index down 0.26 per cent in their early deals.

The US Dow Jones Industrial Average ended 1.35 per cent lower as technology firms are hit by worries about regulation in light of the Facebook data breach scandal yesterday.&nbsp; 
&nbsp;

The BSE Sensex opened 112 points lower and turned rangebound today amid losses in metal, healthcare, realty, consumer durables and banking counters

The BSE Sensex opened 112 points lower and turned rangebound today amid losses in metal, healthcare, realty, consumer durables and banking counters, ahead of the US Fed's key policy meet that begins later in the day. A weak trend in other Asian markets, following overnight losses Wall Street, dampened market sentiment here, brokers said. The 30-share barometer fell 112.26 points, or 0.34 per cent, to 32,810.86 in opening session. The gauge, however, turned positive to trade 42.34 points, or 0.13 per cent, higher at 32,965.46. It had lost 994.82 in the previous five sessions. The NSE Nifty also opened 45.15 points, or 0.44 per cent, lower at 10,049.10. Sectoral indices led by metal, healthcare, realty, consumer durable and banking stocks were trading in the negative terrain, falling by up to 1.38 per cent. The laggards were Bharti Airtel, NTPC, Kotak Bank, M&M, IndusInd Bank, Axis Bank, Sun Pharma and ITC, falling up to 1.42 per cent. Tata Steel, Adani Ports, Tata Motors and Infosys were among the top gainers, rising up to 3 per cent. Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 191.52 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on yesterday, provisional data released by the stock exchanges showed. In the Asian region, Hong Kong's Hang Seng fell 0.72 per cent, Japan's Nikkei shed 0.09 per cent, while Shanghai Composite Index down 0.26 per cent in their early deals. The US Dow Jones Industrial Average ended 1.35 per cent lower as technology firms are hit by worries about regulation in light of the Facebook data breach scandal yesterday.

Sensex, Nifty cautious ahead of US Fed meet

The death of a woman in Arizona struck by a self-driving car with no human control, the first fatality involving a fully autonomous vehicle is an event the nascent industry has long dreaded and comes at a sensitive time.

Also read: <a href="http://www.wionews.com/world/woman-dies-in-arizona-after-being-hit-by-uber-self-driving-cars-36420" target="_blank">Woman dies in Arizona after being hit by Uber self-driving car</a>

Monday&#39;s accident involving an Uber Technologies Inc car is shaping up as the first significant test of how policy makers and the public will respond to the new technology. The incident occurred as companies have been pushing for regulatory clearance to offer self-driving car ride services as soon as next year. On Friday, Uber and Alphabet Inc&#39;s Waymo car unit had written US senators urging them to approve sweeping self-driving car legislation &quot;in the coming weeks.&quot;

Automakers and technology companies such as Uber, General Motors Co and Toyota Motor Corp&nbsp;have made substantial investments that hinge on significant revisions to existing vehicle safety regulations written under the assumption that a licensed human would always be in control of a vehicle.

Auto and technology industry officials have warned that there could be accidents and deaths involving self-driving cars, but they have said countless additional lives would be saved as robotic systems programmed to obey traffic laws took over for distracted, sleepy or impaired human drivers.

Mark Rosenker, a former chairman of the National Transportation Safety Board, said on Monday the public should not overreact to the Uber incident. He noted that 6,000 pedestrians and nearly 40,000 people die annually on U.S. roads in more than 6 million crashes annually.

&ldquo;This is going to be a unfortunate obstacle that we are going to have to deal with to regain (the public&#39;s) belief that these devices are safe,&rdquo; Rosenker said.

The incident prompted Uber to suspend all testing of self-driving cars.

The immediate impact of the fatality may be to further delay or change a landmark bill pending in Congress to speed the testing of self-driving cars that was already stalled by objections from a handful of Democrats over safety concerns.

Senator John Thune, a Republican who chairs the Commerce Committee, said the &quot;tragedy underscores the need to adopt laws and policies tailored for self-driving vehicles.&quot;

However, two Democratic US senators on Thune&#39;s committee, Ed Markey of Massachusetts and Richard Blumenthal of Connecticut, said the Uber incident demands a tough response.

&quot;This tragic incident makes clear that autonomous vehicle technology has a long way to go before it is truly safe for the passengers, pedestrians, and drivers who share America&rsquo;s roads,&quot; Blumenthal said in a statement.

The Trump administration has been working to dismantle regulatory roadblocks to self-driving cars, but it has also said it is focused on ensuring safety. &quot;The goal is to develop common sense regulations that do not hamper innovation, while preserving safety,&quot; Transportation Secretary Elaine Chao said on March 1. A spokesman for Chao had no additional comment Monday.

Chao is reviewing a petition that GM filed in January with NHTSA requesting an exemption to have a small number of autonomous vehicles operate in a ride-share program without steering wheels or human drivers.

The International Brotherhood of Teamsters said Monday in a statement the incident demonstrated &quot;there are enormous risks inherent to testing unproven technologies on public roads. It is critical that pedestrians and drivers are safeguarded.&quot;

Former US Transportation Secretary Anthony Foxx said Monday the incident is a &quot;wake up call to the entire AV industry and government to put a high priority on safety.&quot;

In September, the US House of Representatives unanimously passed a measure that would allow automakers to win exemptions from safety rules that require human controls. A Senate version would allow automakers, within three years, to each sell up to 80,000 self-driving vehicles annually if they could demonstrate to regulators they are as safe as current vehicles.

Concerns over the safety of autonomous vehicles flared in July 2016 when a man driving a Tesla Model S in semi-autonomous &quot;Autopilot&quot; mode died when his car struck a tractor-trailer.

In January 2017, federal safety regulators concluded there was no defect in the Tesla Autopilot system, and that the driver should have maintained control.

The death of a woman in Arizona struck by a self-driving car with no human control, the first fatality involving a fully autonomous vehicle is an event the nascent industry has long dreaded and comes at a sensitive time

The death of a woman in Arizona struck by a self-driving car with no human control, the first fatality involving a fully autonomous vehicle is an event the nascent industry has long dreaded and comes at a sensitive time. Also read: Woman dies in Arizona after being hit by Uber self-driving car Monday's accident involving an Uber Technologies Inc car is shaping up as the first significant test of how policy makers and the public will respond to the new technology. The incident occurred as companies have been pushing for regulatory clearance to offer self-driving car ride services as soon as next year. On Friday, Uber and Alphabet Inc's Waymo car unit had written US senators urging them to approve sweeping self-driving car legislation "in the coming weeks." Automakers and technology companies such as Uber, General Motors Co and Toyota Motor Corp have made substantial investments that hinge on significant revisions to existing vehicle safety regulations written under the assumption that a licensed human would always be in control of a vehicle. Auto and technology industry officials have warned that there could be accidents and deaths involving self-driving cars, but they have said countless additional lives would be saved as robotic systems programmed to obey traffic laws took over for distracted, sleepy or impaired human drivers. Mark Rosenker, a former chairman of the National Transportation Safety Board, said on Monday the public should not overreact to the Uber incident. He noted that 6,000 pedestrians and nearly 40,000 people die annually on U.S. roads in more than 6 million crashes annually. “This is going to be a unfortunate obstacle that we are going to have to deal with to regain (the public's) belief that these devices are safe,” Rosenker said. The incident prompted Uber to suspend all testing of self-driving cars. The immediate impact of the fatality may be to further delay or change a landmark bill pending in Congress to speed the testing of self-driving cars that was already stalled by objections from a handful of Democrats over safety concerns. Senator John Thune, a Republican who chairs the Commerce Committee, said the "tragedy underscores the need to adopt laws and policies tailored for self-driving vehicles." However, two Democratic US senators on Thune's committee, Ed Markey of Massachusetts and Richard Blumenthal of Connecticut, said the Uber incident demands a tough response. "This tragic incident makes clear that autonomous vehicle technology has a long way to go before it is truly safe for the passengers, pedestrians, and drivers who share America’s roads," Blumenthal said in a statement. The Trump administration has been working to dismantle regulatory roadblocks to self-driving cars, but it has also said it is focused on ensuring safety. "The goal is to develop common sense regulations that do not hamper innovation, while preserving safety," Transportation Secretary Elaine Chao said on March 1. A spokesman for Chao had no additional comment Monday. Chao is reviewing a petition that GM filed in January with NHTSA requesting an exemption to have a small number of autonomous vehicles operate in a ride-share program without steering wheels or human drivers. The International Brotherhood of Teamsters said Monday in a statement the incident demonstrated "there are enormous risks inherent to testing unproven technologies on public roads. It is critical that pedestrians and drivers are safeguarded." Former US Transportation Secretary Anthony Foxx said Monday the incident is a "wake up call to the entire AV industry and government to put a high priority on safety." In September, the US House of Representatives unanimously passed a measure that would allow automakers to win exemptions from safety rules that require human controls. A Senate version would allow automakers, within three years, to each sell up to 80,000 self-driving vehicles annually if they could demonstrate to regulators they are as safe as current vehicles. Concerns over the safety of autonomous vehicles flared in July 2016 when a man driving a Tesla Model S in semi-autonomous "Autopilot" mode died when his car struck a tractor-trailer. In January 2017, federal safety regulators concluded there was no defect in the Tesla Autopilot system, and that the driver should have maintained control.

After self-driving Uber car kills woman, industry faces critical test

&nbsp;The benchmark BSE Sensex today cracked below the 33,000-mark by falling nearly 253 points, extending its slide for the fifth straight session on unabated foreign fund outflows amid weak global cues.

Overall market sentiment remained weak after the RBI data released after market hours on Friday showed current account deficit (CAD) rose to 2 per cent of the GDP at $13.5 billion in the December quarter, up from 1.4 per cent in the year-ago period, due to a higher trade deficit.

The rupee also depreciated by 19 paise intra-day against the dollar at 65.13, which too had a negative influence.

Global cues too were weak as investors moved cautiously before the US Federal Reserve meeting, that is likely to raise US interest rates.

The BSE 30-share barometer opened higher at 33,268.97 and advanced to 33,275.79 in morning trade on value-buying in recently battered stocks by investors.

However, across-the-board profit booking at every rise, pulled it down to a low of 32,856.54.

The 30-share index finally settled down 252.88 points or 0.76 per cent at 32,923.12. This is the weakest closing since December 6 last when it settled at 32,597.18.

The gauge lost 741.94 points in the previous four sessions.

The wider NSE Nifty too fell by 100.90 points or 0.99 per cent to end at 10,094.25. It shuttled between 10,224.55 and 10,075.30 during the session.

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 150.46 crore on Friday, while domestic institutional investors (DIIs) sold shares worth Rs 770.53 crore, as per the provisional data.&nbsp;

The rupee also depreciated by 19 paise intra-day against the dollar at 65.13, which too had a negative influence.

The benchmark BSE Sensex today cracked below the 33,000-mark by falling nearly 253 points, extending its slide for the fifth straight session on unabated foreign fund outflows amid weak global cues. Overall market sentiment remained weak after the RBI data released after market hours on Friday showed current account deficit (CAD) rose to 2 per cent of the GDP at $13.5 billion in the December quarter, up from 1.4 per cent in the year-ago period, due to a higher trade deficit. The rupee also depreciated by 19 paise intra-day against the dollar at 65.13, which too had a negative influence. Global cues too were weak as investors moved cautiously before the US Federal Reserve meeting, that is likely to raise US interest rates. The BSE 30-share barometer opened higher at 33,268.97 and advanced to 33,275.79 in morning trade on value-buying in recently battered stocks by investors. However, across-the-board profit booking at every rise, pulled it down to a low of 32,856.54. The 30-share index finally settled down 252.88 points or 0.76 per cent at 32,923.12. This is the weakest closing since December 6 last when it settled at 32,597.18. The gauge lost 741.94 points in the previous four sessions. The wider NSE Nifty too fell by 100.90 points or 0.99 per cent to end at 10,094.25. It shuttled between 10,224.55 and 10,075.30 during the session. Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 150.46 crore on Friday, while domestic institutional investors (DIIs) sold shares worth Rs 770.53 crore, as per the provisional data.

Sensex falls below 33,000-mark at close

Indian shares fell 1.5 percent on Friday, the sharpest in more than a month, with financial and energy stocks leading the decline.

The benchmark BSE Sensex declined 1.51 percent to 33,176, ending 0.4 percent lower for the week.

The broader NSE Nifty fell 1.59 percent to 10,195.15, ending down 0.3 percent for the week.

Both indexes posted their third straight weekly drop.

Both indexes posted their third straight weekly drop

Indian shares fell 1.5 percent on Friday, the sharpest in more than a month, with financial and energy stocks leading the decline. The benchmark BSE Sensex declined 1.51 percent to 33,176, ending 0.4 percent lower for the week. The broader NSE Nifty fell 1.59 percent to 10,195.15, ending down 0.3 percent for the week. Both indexes posted their third straight weekly drop.

Sensex, Nifty see sharpest fall in over 1 month

The BSE Sensex dropped over 500 points &mdash; over 1.5% &mdash; in late afternoon trade, with the Nifty dropped below 10,200.&nbsp;

At the closing bell, the Sensex had fallen 509.54 points to 33,176.00 while the Nifty was trading at 10,195.15.&nbsp;

The drop was led by a selloff in energy, metal, oil &amp; gas, utilities and FMCG stocks amid subdued Asian trend.

Weakness in Asian markets on continued worries of trade tensions due to fears over US tariffs weighed on market sentiment.

Back home, Telugu Desam Party&#39;s (TDP) formal exit from the Narendra Modi government also spooked investors.

(With inputs from PTI) 
&nbsp;

Just before closing, the Sensex had fallen 541 points to 33,137.73, while the Nifty was trading at 10,186.90

The BSE Sensex dropped over 500 points — over 1.5% — in late afternoon trade, with the Nifty dropped below 10,200. At the closing bell, the Sensex had fallen 509.54 points to 33,176.00 while the Nifty was trading at 10,195.15. The drop was led by a selloff in energy, metal, oil & gas, utilities and FMCG stocks amid subdued Asian trend. Weakness in Asian markets on continued worries of trade tensions due to fears over US tariffs weighed on market sentiment. Back home, Telugu Desam Party's (TDP) formal exit from the Narendra Modi government also spooked investors. (With inputs from PTI)

Sensex falls over 500 points, Nifty drops below 10,200

The benchmark BSE Sensex fell over 130 points in early trade today amid weak Asian cues and selling on oil &amp; gas, metals, power, PSU and IT counters.

Brokers said persistent selling by investors, capital outflows by foreign funds and a weak trend in Asian bourses due to increased concerns over the prospect of a global trade war dampened market sentiment.

The Sensex was trading 136.94 points, or 0.40 per cent, down at 33,548.60. The gauge lost 232.40 points in the previous three straight sessions.

The 50-share Nifty also fell 50.95 points, or 0.49 per cent, to 10,309.20.

Kotak Bank, ONGC, NTPC, Asian Paint, Reliance Industries, HDFC, TCS, Infosys, ICICI Bank, ITC, SBI, IndusInd Bank and Tata Motors were among major losers, falling up to 1.40 per cent.

Shares of Gitanjali Gems continued to be under selling pressure, falling 4.63 per cent to Rs 12.35.

Hong Kong&#39;s Hang Seng was down 0.24 per cent and Shanghai Composite shed 0.11 per cent in early trade today. Japan&#39;s Nikkei too down 0.24 per cent.

The US Dow Jones Industrial Average, however, ended 0.47 per cent higher yesterday.

Fall in Sensex amid weak Asian cues and selling on oil and gas, metals, power, PSU and IT counters

The benchmark BSE Sensex fell over 130 points in early trade today amid weak Asian cues and selling on oil & gas, metals, power, PSU and IT counters. Brokers said persistent selling by investors, capital outflows by foreign funds and a weak trend in Asian bourses due to increased concerns over the prospect of a global trade war dampened market sentiment. The Sensex was trading 136.94 points, or 0.40 per cent, down at 33,548.60. The gauge lost 232.40 points in the previous three straight sessions. The 50-share Nifty also fell 50.95 points, or 0.49 per cent, to 10,309.20. Kotak Bank, ONGC, NTPC, Asian Paint, Reliance Industries, HDFC, TCS, Infosys, ICICI Bank, ITC, SBI, IndusInd Bank and Tata Motors were among major losers, falling up to 1.40 per cent. Shares of Gitanjali Gems continued to be under selling pressure, falling 4.63 per cent to Rs 12.35. Hong Kong's Hang Seng was down 0.24 per cent and Shanghai Composite shed 0.11 per cent in early trade today. Japan's Nikkei too down 0.24 per cent. The US Dow Jones Industrial Average, however, ended 0.47 per cent higher yesterday.

Sensex slips 130 points on weak global cues, Nifty tests 10,300

The BSE Sensex dropped by 150 points to close at 33,685.54 in a volatile trade, extending losses for the third day as banking, FMCG and IT shares fell amid fresh LoU fraud scare.

Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure after the CBI registered a fresh case relating to &quot;fraudulent&quot; issuance of Rs 9 crore of LoUs to Chandri Papers and Allied Products by PNB&#39;s Brady House branch.

Asian markets ended mixed after the Wall Street declined amid concerns that the US could impose severe tariffs on Chinese imports and that the US Federal Reserve could raise interest rates as early as next week.

Traders are also awaiting trade deficit data for February due later in the day, a broker said.

The World Bank and Fitch projected India&#39;s GDP growth at 7.3 per cent for the next financial year and accelerate further to 7.5 per cent in 2019-20, which helped limit the fall.

After opening in the positive zone at 33,843.47, the Sensex advanced to the day&#39;s high of 33,866.28 at the outset.

It later gave up gains and fell to a low of 33,637.28, dragged down by banking stocks.

However, the index managed to recoup some of the losses after European shares opened better. The 30-share barometer closed down by 150.20 points, or 0.44 per cent at 33,685.54.

The benchmark had lost 82.20 points in the previous two sessions.

The broader NSE Nifty, after cracking below the key 10,400-mark, touched a low of 10,346.20, before finally ending down 50.75 points, or 0.49 per cent, at 10,360.15.&nbsp;

Banking, FMCG and IT shares fell amid a fresh LoU fraud scare

The BSE Sensex dropped by 150 points to close at 33,685.54 in a volatile trade, extending losses for the third day as banking, FMCG and IT shares fell amid fresh LoU fraud scare. Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure after the CBI registered a fresh case relating to "fraudulent" issuance of Rs 9 crore of LoUs to Chandri Papers and Allied Products by PNB's Brady House branch. Asian markets ended mixed after the Wall Street declined amid concerns that the US could impose severe tariffs on Chinese imports and that the US Federal Reserve could raise interest rates as early as next week. Traders are also awaiting trade deficit data for February due later in the day, a broker said. The World Bank and Fitch projected India's GDP growth at 7.3 per cent for the next financial year and accelerate further to 7.5 per cent in 2019-20, which helped limit the fall. After opening in the positive zone at 33,843.47, the Sensex advanced to the day's high of 33,866.28 at the outset. It later gave up gains and fell to a low of 33,637.28, dragged down by banking stocks. However, the index managed to recoup some of the losses after European shares opened better. The 30-share barometer closed down by 150.20 points, or 0.44 per cent at 33,685.54. The benchmark had lost 82.20 points in the previous two sessions. The broader NSE Nifty, after cracking below the key 10,400-mark, touched a low of 10,346.20, before finally ending down 50.75 points, or 0.49 per cent, at 10,360.15.

Stocks fall for third day; Sensex drops 150 points, Nifty below 10,400

Market benchmark BSE Sensex extended losses for the third straight day by shedding over 66 points in early trade today on selling by domestic institutional investors and foreign funds amid mixed Asian cues.

Also, selling pressure in oil &amp; gas, FMCG, metal, PSU, bank and power stocks amid a depreciating rupee to weighed on market sentiment.

The BSE 30-share index slipped 66.48 points, or 0.19 per cent, to 33,769.26. The benchmark had lost 82.20 points in the previous two sessions.

Major laggards were Hindustan Unilever, NTPC, ONGC, ICICI Bank, Reliance Industries and Tata Steel, falling by up to 0.75 per cent.

NSE Nifty was trading down by 21.05 points, or 0.20 per cent, at 10,389.85.

Gitanjali Gems stock continued its downturn, cracking 4.78 per cent to Rs 12.95.

Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 432.03 crore, and foreign portfolio investors (FPIs) also sold shares of Rs 258.98 crore yesterday.

Asian markets were trading lower following a decline on Wall Street overnight. Japan&#39;s Nikkei shed 0.47 per cent, while Hong Kong&#39;s Hang Seng edged up 0.03 per cent. Shanghai Composite Index was down 0.04 per cent in early trade.

The US Dow Jones Industrial Average also ended 1 per cent lower yesterday

Market benchmark BSE Sensex extended losses for the third straight day by shedding over 66 points in early trade today on selling by domestic institutional investors and foreign funds amid mixed Asian cues

Market benchmark BSE Sensex extended losses for the third straight day by shedding over 66 points in early trade today on selling by domestic institutional investors and foreign funds amid mixed Asian cues. Also, selling pressure in oil & gas, FMCG, metal, PSU, bank and power stocks amid a depreciating rupee to weighed on market sentiment. The BSE 30-share index slipped 66.48 points, or 0.19 per cent, to 33,769.26. The benchmark had lost 82.20 points in the previous two sessions. Major laggards were Hindustan Unilever, NTPC, ONGC, ICICI Bank, Reliance Industries and Tata Steel, falling by up to 0.75 per cent. NSE Nifty was trading down by 21.05 points, or 0.20 per cent, at 10,389.85. Gitanjali Gems stock continued its downturn, cracking 4.78 per cent to Rs 12.95. Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 432.03 crore, and foreign portfolio investors (FPIs) also sold shares of Rs 258.98 crore yesterday. Asian markets were trading lower following a decline on Wall Street overnight. Japan's Nikkei shed 0.47 per cent, while Hong Kong's Hang Seng edged up 0.03 per cent. Shanghai Composite Index was down 0.04 per cent in early trade. The US Dow Jones Industrial Average also ended 1 per cent lower yesterday

Sensex extends losses, down 66 pts; Nifty below 10,400

Asian markets tumbled on Wednesday as news that Donald Trump had replaced his moderate secretary of state with a hawk fanned fears of instability in the White House and a more hardline approach to foreign affairs.

News that Rex Tillerson had been sacked rattled US equities, which had been buoyed earlier Tuesday by a soft inflation report that tempered talk of a sharp rise in interest rates.

The former oilman had been seen as taking a more pragmatic line on various issues, particularly on global trade and the Iran nuclear agreement.

He will be replaced by CIA chief Mike Pompeo, who is an advocate of taking a hardline with China on trade and Iran.

Adding to the unease on trading floors were reports Trump is considering hitting China over alleged intellectual property theft, with an announcement on tech sector tariffs said to be lined up for as soon as next week.

&quot;The significance of a shift to a global trade and foreign policy hawk with the US on course for a trade showdown with China and diplomatic negotiations with North Korea, is very significant suggesting the US is readying for hardball negotiations,&quot; said Stephen Innes, head of Asia-Pacific trading at OANDA.

The move, which had been expected in some quarters, comes after Trump&#39;s pro-markets top economics advisor stepped down this month over controversial metals tariffs.

Tillerson marks the latest in a string of senior members of the administration to resign in 14 tumultuous months and reinforces a sense of uncertainty on Pennsylvania Avenue.

&quot;Markets one day may become exhausted if the staff turnover and perceived White House instability continues,&quot; Terry Haines, a senior political strategist at Evercore ISI, wrote in a note. &quot;Trump and the administration will have some work to do to reassure markets.&quot;

All three main US markets ended lower and Asia followed suit.

Tokyo fell 0.9 per cent, while Hong Kong shed 0.5 percent and Shanghai sank 0.6 per cent.

Sydney lost 0.7 per cent, Singapore fell 0.5 percent and Seoul was off 0.4 per cent while Wellington, Manila and Taipei also fell.

The news overshadowed data showing US inflation eased in February from January, which helped to wind back concerns that the improving economy was pushing the Fed to lift borrowing costs four times this year rather than the three earlier thought.

Those figures, combined with the Tillerson sacking, sent the dollar lower against the yen and pound, with sterling also getting support from improving British economic forecasts.

And on Wednesday traders continued to sell the greenback against all its major peers as well as most high-yielding currencies.

&quot;The dollar sell-off can be attributed to the combination of lower (inflation) and the White House revolving door syndrome that exudes little confidence in the administration,&quot; Innes said, adding that &quot;the moves in equities suggest investors are bracing for more worrying protectionist headlines&quot;.

In early European trade London and Paris each dipped 0.1 percent, while Frankfurt was flat.

News that Rex Tillerson had been sacked rattled US equities

Asian markets tumbled on Wednesday as news that Donald Trump had replaced his moderate secretary of state with a hawk fanned fears of instability in the White House and a more hardline approach to foreign affairs. News that Rex Tillerson had been sacked rattled US equities, which had been buoyed earlier Tuesday by a soft inflation report that tempered talk of a sharp rise in interest rates. The former oilman had been seen as taking a more pragmatic line on various issues, particularly on global trade and the Iran nuclear agreement. He will be replaced by CIA chief Mike Pompeo, who is an advocate of taking a hardline with China on trade and Iran. Adding to the unease on trading floors were reports Trump is considering hitting China over alleged intellectual property theft, with an announcement on tech sector tariffs said to be lined up for as soon as next week. "The significance of a shift to a global trade and foreign policy hawk with the US on course for a trade showdown with China and diplomatic negotiations with North Korea, is very significant suggesting the US is readying for hardball negotiations," said Stephen Innes, head of Asia-Pacific trading at OANDA. The move, which had been expected in some quarters, comes after Trump's pro-markets top economics advisor stepped down this month over controversial metals tariffs. Tillerson marks the latest in a string of senior members of the administration to resign in 14 tumultuous months and reinforces a sense of uncertainty on Pennsylvania Avenue. "Markets one day may become exhausted if the staff turnover and perceived White House instability continues," Terry Haines, a senior political strategist at Evercore ISI, wrote in a note. "Trump and the administration will have some work to do to reassure markets." All three main US markets ended lower and Asia followed suit. Tokyo fell 0.9 per cent, while Hong Kong shed 0.5 percent and Shanghai sank 0.6 per cent. Sydney lost 0.7 per cent, Singapore fell 0.5 percent and Seoul was off 0.4 per cent while Wellington, Manila and Taipei also fell. The news overshadowed data showing US inflation eased in February from January, which helped to wind back concerns that the improving economy was pushing the Fed to lift borrowing costs four times this year rather than the three earlier thought. Those figures, combined with the Tillerson sacking, sent the dollar lower against the yen and pound, with sterling also getting support from improving British economic forecasts. And on Wednesday traders continued to sell the greenback against all its major peers as well as most high-yielding currencies. "The dollar sell-off can be attributed to the combination of lower (inflation) and the White House revolving door syndrome that exudes little confidence in the administration," Innes said, adding that "the moves in equities suggest investors are bracing for more worrying protectionist headlines". In early European trade London and Paris each dipped 0.1 percent, while Frankfurt was flat.

Asian markets tumble after Tillerson firing

The Finance Bill was&nbsp;passed in Lok Sabha today after&nbsp;it was&nbsp;tabled amid a major din in the House.

Finance Minister Arun Jaitley moved the Finance Bill, as well as the Appropriation Bill which were passed by a voice vote.

Meanwhile, Rajya Sabha was adjourned for the day as NDA ally&nbsp;TDP continued to protest.&nbsp;

Finance Minister Arun Jaitley moved the Finance Bill

The Finance Bill was passed in Lok Sabha today after it was tabled amid a major din in the House. Finance Minister Arun Jaitley moved the Finance Bill, as well as the Appropriation Bill which were passed by a voice vote. Meanwhile, Rajya Sabha was adjourned for the day as NDA ally TDP continued to protest.

Finance Bill passed in Lok Sabha

China&#39;s industrial output expanded 7.2 per cent in the first two months, official data showed Wednesday, indicating an upward trend of the Chinese economy.

According to the official data, the growth rate of industrial output is 0.9 percentage points higher year on year and 0.1 percentage point higher than that registered in December.

The fixed-asset investment increased 7.9 per cent on a yearly basis. Investment in high-tech and service industries both outpaced other sectors to see rapid growth.

Besides, investment in sectors like ecological protection, environmental governance and public facility management also sped up.

The total retail sales of consumer goods from January to February increased 9.7 percent from one year earlier, compared with 9.4 per cent in December last year. Among it, spending in new types of business and tourism, mobile payment as well as box office earning all went up.

Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least&nbsp;3 million US&nbsp;dollars.

The fixed-asset investment increased 7.9 per cent on a yearly basis.

China's industrial output expanded 7.2 per cent in the first two months, official data showed Wednesday, indicating an upward trend of the Chinese economy. According to the official data, the growth rate of industrial output is 0.9 percentage points higher year on year and 0.1 percentage point higher than that registered in December. The fixed-asset investment increased 7.9 per cent on a yearly basis. Investment in high-tech and service industries both outpaced other sectors to see rapid growth. Besides, investment in sectors like ecological protection, environmental governance and public facility management also sped up. The total retail sales of consumer goods from January to February increased 9.7 percent from one year earlier, compared with 9.4 per cent in December last year. Among it, spending in new types of business and tourism, mobile payment as well as box office earning all went up. Industrial output, officially called industrial value added, is used to measure the activity of designated large enterprises with annual turnover of at least 3 million US dollars.

China's industrial output grows in January-February

Gold prices rose on Wednesday to a one-week high on a weaker dollar following US&nbsp;Secretary of State Rex Tillerson&#39;s sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite.

Spot gold rose 0.12 per cent to $1,327.56 per ounce at 0402 GMT. It touched $1,329.22 an ounce during the session, its highest since March 7.

US&nbsp;gold futures for April delivery rose 0.09 per cent to $1,328.20 per ounce.

On Tuesday, President Donald Trump fired Tillerson after a series of public rifts over policy on North Korea, Russia and Iran, replacing his chief diplomat with loyalist CIA Director Mike Pompeo.

Risk aversion is back on the table following the unexpected news of Tillerson&#39;s dismissal and the appointment of Pompeo, said OCBC analyst Barnabas Gan.

&quot;Pompeo is a supporter of Trump&#39;s trade policy and could help advance his agenda of imposing it on US&nbsp;trading partners ... all this uncertainty and risk aversion leaves gold as a safe haven option,&quot; Gan added.

The US&nbsp;dollar wallowed against the yen and other major currencies after the dismissal of Tillerson. This killed off an earlier bounce in the currency.

A weaker dollar makes bullion, which is used as an alternative investment during times of political and financial uncertainty, cheaper for holders of other currencies.

&quot;With the US.= protectionist rhetoric likely to ring equity market alarm bells, gold should continue to be an ideal hedge in this highly unpredictable environment,&quot; said Stephen Innes, APAC trading head at OANDA.

Asian shares eased on Wednesday amid fears of rising US&nbsp;protectionism.

Meanwhile, data on Tuesday showed US&nbsp;consumer prices cooled in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual.

Inflation is a key economic factor the US&nbsp;central bank considers when deciding monetary policy. A strong US&nbsp;inflation reading could raise expectations for future interest rate increases, which would put pressure on non-yielding bullion.

&quot;The 0.2 per cent increase in consumer price index suggests it won&#39;t be enough to spur more rate hikes by the Fed than already expected,&quot; ANZ analysts said in a note.

Spot gold may rise to $1,334 per ounce, as it has cleared a resistance at $1,327, according to&nbsp;Technical analyst Wang Tao.

In other precious metals, silver rose 0.5 per cent to $16.62 per ounce.

Platinum gained 0.3 per cent to $964.50 per ounce and Palladium edged 0.1 per cent higher to $991.47 per ounce.

Spot gold rose 0.12 percent to $1,327.56 per ounce at 0402 GMT. It touched $1,329.22 an ounce during the session, its highest since March 7

Gold prices rose on Wednesday to a one-week high on a weaker dollar following US Secretary of State Rex Tillerson's sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite. Spot gold rose 0.12 per cent to $1,327.56 per ounce at 0402 GMT. It touched $1,329.22 an ounce during the session, its highest since March 7. US gold futures for April delivery rose 0.09 per cent to $1,328.20 per ounce. On Tuesday, President Donald Trump fired Tillerson after a series of public rifts over policy on North Korea, Russia and Iran, replacing his chief diplomat with loyalist CIA Director Mike Pompeo. Risk aversion is back on the table following the unexpected news of Tillerson's dismissal and the appointment of Pompeo, said OCBC analyst Barnabas Gan. "Pompeo is a supporter of Trump's trade policy and could help advance his agenda of imposing it on US trading partners ... all this uncertainty and risk aversion leaves gold as a safe haven option," Gan added. The US dollar wallowed against the yen and other major currencies after the dismissal of Tillerson. This killed off an earlier bounce in the currency. A weaker dollar makes bullion, which is used as an alternative investment during times of political and financial uncertainty, cheaper for holders of other currencies. "With the US.= protectionist rhetoric likely to ring equity market alarm bells, gold should continue to be an ideal hedge in this highly unpredictable environment," said Stephen Innes, APAC trading head at OANDA. Asian shares eased on Wednesday amid fears of rising US protectionism. Meanwhile, data on Tuesday showed US consumer prices cooled in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual. Inflation is a key economic factor the US central bank considers when deciding monetary policy. A strong US inflation reading could raise expectations for future interest rate increases, which would put pressure on non-yielding bullion. "The 0.2 per cent increase in consumer price index suggests it won't be enough to spur more rate hikes by the Fed than already expected," ANZ analysts said in a note. Spot gold may rise to $1,334 per ounce, as it has cleared a resistance at $1,327, according to Technical analyst Wang Tao. In other precious metals, silver rose 0.5 per cent to $16.62 per ounce. Platinum gained 0.3 per cent to $964.50 per ounce and Palladium edged 0.1 per cent higher to $991.47 per ounce.

Gold rises on increasing US protectionism concerns

The benchmark BSE Sensex drifted <a href="http://www.wionews.com/business-economy/money-market-rupee-opens-higher-against-dollar-35751">150 points lower and the NSE Nifty</a> slipped below the 10,400-mark in early deals today on selling in metal, PSU and realty counters amid weak global cues.

Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade.

The 30-share index dropped 166.17 points or 0.49 per cent to 33,690.61. The gauge had lost 61.16 points in the previous session.

Similarly, the NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95.

Sectoral indices led by metal, PSU, realty, oil &amp; gas, auto, power and bank stocks were trading in the negative zone, falling up to 0.87 per cent.

Banking shares such as SBI, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Andhra Bank and Canara Bank also declined up to 2.30 per cent.

However, TCS, Infosys, Maruti Suzuki, Dr Reddy&#39;s, L&amp;T and Asian Paints trading in the green, gaining up to 0.74 per cent.

PNB stocks fell 4.23 per cent to Rs 93.85 after reports that the bank&#39;s exposure to alleged fraud may be over $2 billion.

Shares of Gitanjali Gems cracked 4.90 per cent to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter-ended 31 December.

Brokers said that the sentiment remained negative on weak trend in other Asian markets following a drop in Wall Street as US President Donald Trump replaced his secretary of state, and plans to impose new tariffs on China.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 1,613.39 crore while foreign portfolio investors (FPIs) also bought shares worth Rs 7,028.42 crore yesterday, provisional data showed.

In the Asian region, Japan&#39;s Nikkei fell 1.03 per cent, Hong Kong&#39;s Hang Seng shed 1.18 per cent in early trade. China&#39;s Shanghai Composite index too down 0.46 per cent.

NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals today on selling in metal, PSU and realty counters amid weak global cues. Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade. The 30-share index dropped 166.17 points or 0.49 per cent to 33,690.61. The gauge had lost 61.16 points in the previous session. Similarly, the NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95. Sectoral indices led by metal, PSU, realty, oil & gas, auto, power and bank stocks were trading in the negative zone, falling up to 0.87 per cent. Banking shares such as SBI, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Andhra Bank and Canara Bank also declined up to 2.30 per cent. However, TCS, Infosys, Maruti Suzuki, Dr Reddy's, L&T and Asian Paints trading in the green, gaining up to 0.74 per cent. PNB stocks fell 4.23 per cent to Rs 93.85 after reports that the bank's exposure to alleged fraud may be over $2 billion. Shares of Gitanjali Gems cracked 4.90 per cent to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter-ended 31 December. Brokers said that the sentiment remained negative on weak trend in other Asian markets following a drop in Wall Street as US President Donald Trump replaced his secretary of state, and plans to impose new tariffs on China. Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 1,613.39 crore while foreign portfolio investors (FPIs) also bought shares worth Rs 7,028.42 crore yesterday, provisional data showed. In the Asian region, Japan's Nikkei fell 1.03 per cent, Hong Kong's Hang Seng shed 1.18 per cent in early trade. China's Shanghai Composite index too down 0.46 per cent.

Sensex, Nifty fall in early trade

Amid mixed global cues, the rupee opened 2 paise higher at 64.87 against the US dollar today at the Interbank Foreign Exchange on selling of the greenback by exporters and banks.

The dollar weakened against some currencies overseas after US President Donald Trump sacked Secretary of State Rex Tillerson.

The release of US consumer price inflation data that was in line with expectations, dampening more aggressive rate-hike forecasts added to the weakness in dollar and lent some support to the domestic unit. However, a lower opening of equity market here capped any gains gain, forex dealers said.

Yesterday, the rupee had gained 15 paise to close at 64.89 against the US currency on heavy foreign fund inflows after strong macro-economic data.

Meanwhile, the benchmark BSE Sensex fell 142.82 points, or 0.42 per cent, to 33,713.96 in morning trade.

The dollar weakened against some currencies overseas after US President Donald Trump sacked Secretary of State Rex Tillerson.

Amid mixed global cues, the rupee opened 2 paise higher at 64.87 against the US dollar today at the Interbank Foreign Exchange on selling of the greenback by exporters and banks. The dollar weakened against some currencies overseas after US President Donald Trump sacked Secretary of State Rex Tillerson. The release of US consumer price inflation data that was in line with expectations, dampening more aggressive rate-hike forecasts added to the weakness in dollar and lent some support to the domestic unit. However, a lower opening of equity market here capped any gains gain, forex dealers said. Yesterday, the rupee had gained 15 paise to close at 64.89 against the US currency on heavy foreign fund inflows after strong macro-economic data. Meanwhile, the benchmark BSE Sensex fell 142.82 points, or 0.42 per cent, to 33,713.96 in morning trade.

Money market: Rupee opens higher against dollar

Oil fell more than 1 per cent on concerns over rising US&nbsp;production and as equities fell, erasing earlier gains driven in part by the firing of US&nbsp;Secretary of State Rex Tillerson.

Brent crude futures dropped 31 cents, or 0.5 per cent, to settle at $64.64 per barrel. US&nbsp;West Texas (WTI) crude futures fell 65 cents, or 1.06 per cent, to $60.71 per barrel.

The market has been buffeted by a number of factors in an active session, including weakness in the equity market, which has trended in tandem with oil of late.

US&nbsp;production has reached an all-time record and weekly data last week showed overall output rising further, to more than 10.3 million barrels per day.

US&nbsp;crude production from major shale formations was expected to rise in April to a record 6.95 million bpd, the US&nbsp;Energy Information Administration (EIA) said on Monday.

&quot;There&rsquo;s no stopping us and OPEC&#39;s frustration levels are going to grow,&quot; said Philip Streible, senior market strategist at RJO Futures in Chicago, referring to efforts by major producers to curb output since last year.

Tillerson&#39;s firing increases risks to the multilateral agreement to limit Iran&#39;s nuclear capabilities, raising questions about potential effects on output by the third largest crude oil producer in the Organization of the Petroleum Exporting Countries.

CIA director Mike Pompeo is the pick to replace Tillerson; he has called for the 2015 Iran nuclear deal to be scrapped.

Trump has threatened to withdraw from the accord between Iran and six world powers unless Congress and European allies &quot;fix&quot; it with a follow-up pact.

&quot;The market is having a wobble on the back of the potential impact on future supply from Iran and also for the ramifications for the Middle East as a whole,&quot; Ole Hansen, senior manager at Saxo Bank, said.

Concerns about supply have had an effect in the forward curve in the futures market, where the May contract has outperformed April, putting May&#39;s price higher than April&#39;s, known as &quot;contango.&quot;&nbsp;

When the front-month contract is trading at a lower level than a later-dated contract, it suggests emerging concerns about growing supply, and reduced need to buy oil now.

&quot;The market switched from backwardation to contango in the crude oil curve today... that&rsquo;s a situation that implies weakness; it&rsquo;s a situation that, if it persists, will lead to an increase in storage,&quot; said Bob Yawger, director of energy futures at Mizuho in New York.

Data from the American Petroleum Institute will be released at 4:30 p.m. on Tuesday, and is expected to show a build US&nbsp;crude inventories for the third straight week.

US crude production from major shale formations was expected to rise in April to a record 6.95 million bpd

Oil fell more than 1 per cent on concerns over rising US production and as equities fell, erasing earlier gains driven in part by the firing of US Secretary of State Rex Tillerson. Brent crude futures dropped 31 cents, or 0.5 per cent, to settle at $64.64 per barrel. US West Texas (WTI) crude futures fell 65 cents, or 1.06 per cent, to $60.71 per barrel. The market has been buffeted by a number of factors in an active session, including weakness in the equity market, which has trended in tandem with oil of late. US production has reached an all-time record and weekly data last week showed overall output rising further, to more than 10.3 million barrels per day. US crude production from major shale formations was expected to rise in April to a record 6.95 million bpd, the US Energy Information Administration (EIA) said on Monday. "There’s no stopping us and OPEC's frustration levels are going to grow," said Philip Streible, senior market strategist at RJO Futures in Chicago, referring to efforts by major producers to curb output since last year. Tillerson's firing increases risks to the multilateral agreement to limit Iran's nuclear capabilities, raising questions about potential effects on output by the third largest crude oil producer in the Organization of the Petroleum Exporting Countries. CIA director Mike Pompeo is the pick to replace Tillerson; he has called for the 2015 Iran nuclear deal to be scrapped. Trump has threatened to withdraw from the accord between Iran and six world powers unless Congress and European allies "fix" it with a follow-up pact. "The market is having a wobble on the back of the potential impact on future supply from Iran and also for the ramifications for the Middle East as a whole," Ole Hansen, senior manager at Saxo Bank, said. Concerns about supply have had an effect in the forward curve in the futures market, where the May contract has outperformed April, putting May's price higher than April's, known as "contango." When the front-month contract is trading at a lower level than a later-dated contract, it suggests emerging concerns about growing supply, and reduced need to buy oil now. "The market switched from backwardation to contango in the crude oil curve today... that’s a situation that implies weakness; it’s a situation that, if it persists, will lead to an increase in storage," said Bob Yawger, director of energy futures at Mizuho in New York. Data from the American Petroleum Institute will be released at 4:30 p.m. on Tuesday, and is expected to show a build US crude inventories for the third straight week.

US crude prices fall over rising production, Tillerson firing

The State Bank of India has reduced charges on non-maintenance of an average monthly balance (AMB) in &#39;savings&#39; account. The charges have been slashed by up to 75 per cent; the move will be effective by April 1.

According to reports, a user living in metro cities and urban centres will now be charged with Rs 15 per month, plus GST, for non-maintenance of average monthly balance. Earlier the charge for the same was Rs 50 per month plus GST.

For semi-urban and rural centres, the charges have been reduced from Rs 40 per month plus GST to Rs 12 and Rs 10 per month plus GST.

The revision is likely to benefit close to 25 crore bank customers, SBI noted in a release.

&quot;We have reduced these charges taking into account the feedback and sentiments of our customers,&quot; PK Gupta, SBI&#39;s managing director for retail and digital banking noted.

&quot;The bank has always focused on keeping the interests of its customers first and this is one of our many efforts towards fulfilling customers&#39; expectations,&quot; he said.

SBI customers can also shift from a regular savings bank account to basic savings bank deposit account (BSBD) with zero charges.

(With inputs from PTI)&nbsp;

According to reports, a user living in metro cities and urban centres will be charged with Rs 15 per month, plus GST for non-maintenance of minimum account balance

The State Bank of India has reduced charges on non-maintenance of an average monthly balance (AMB) in 'savings' account. The charges have been slashed by up to 75 per cent; the move will be effective by April 1. According to reports, a user living in metro cities and urban centres will now be charged with Rs 15 per month, plus GST, for non-maintenance of average monthly balance. Earlier the charge for the same was Rs 50 per month plus GST. For semi-urban and rural centres, the charges have been reduced from Rs 40 per month plus GST to Rs 12 and Rs 10 per month plus GST. The revision is likely to benefit close to 25 crore bank customers, SBI noted in a release. "We have reduced these charges taking into account the feedback and sentiments of our customers," PK Gupta, SBI's managing director for retail and digital banking noted. "The bank has always focused on keeping the interests of its customers first and this is one of our many efforts towards fulfilling customers' expectations," he said. SBI customers can also shift from a regular savings bank account to basic savings bank deposit account (BSBD) with zero charges. (With inputs from PTI)

SBI slashes charges for non-maintenance of minimum balance by up to 75%

With increasing internet penetration around the world, more and more people are using e-payment wallets for transaction, but Bitcoin enthusiast Martin Wis-Meijer believes that Bio-Payments could be the next frontier when it comes to E-Payments. Here'

Are bio-payments the future

Oil markets edged up on Monday on the back of a drop in the number of US rigs drilling for more production and as the US economy continued to create jobs, which industry hopes will drive higher fuel demand.

US West Texas Intermediate (WTI) crude futures were at $62.10 a barrel at 0407 GMT, up 6 cents, or 0.1 per cent.

Brent crude futures were at $65.58 per barrel, up 9 cents, or 0.1 per cent, from their previous close.

&quot;A falling rig count and the strong employment data may have helped support prices,&quot; said William O&#39;Loughlin, investment analyst at Rivkin Securities.

The US economy added the biggest number of jobs in more than 1-1/2 years in February, with non-farm payrolls jumping by 313,000 jobs last month, the Labor Department said on Friday.

In oil markets, US energy companies last week cut oil rigs for the first time in almost two months, with drillers cutting back four rigs, to 796, Baker Hughes energy services firm said on Friday.

Despite the lower rig count, which is an early indicator of future output, activity remains much higher than a year ago when, when just 617 rigs were active, and most analysts expect US crude oil production, which has already risen by over a fifth since mid-2016, to 10.37 million barrels per day (bpd), to rise further.

That&#39;s more than top exporter Saudi Arabia producers and almost as much as Russia pumps out, at nearly 11 million bpd.

Singapore-based brokerage Phillip Futures said that the oil market &quot;will focus on OPEC and IEA (monthly) reports this week for a sensing on global demand/supply levels for crude oil&quot; and that &quot;items in focus will include OECD commercial stock levels, revision in global demand and supply for crude oil and OPEC&#39;s compliance on production levels&quot;.

The Organization of the Petroleum Exporting Countries (OPEC), together with a group of other producers led by Russia, has been withholding production since the start of 2017 to prop up prices.

The US economy continued to create jobs, which industry hopes will drive higher fuel demand

Oil markets edged up on Monday on the back of a drop in the number of US rigs drilling for more production and as the US economy continued to create jobs, which industry hopes will drive higher fuel demand. US West Texas Intermediate (WTI) crude futures were at $62.10 a barrel at 0407 GMT, up 6 cents, or 0.1 per cent. Brent crude futures were at $65.58 per barrel, up 9 cents, or 0.1 per cent, from their previous close. "A falling rig count and the strong employment data may have helped support prices," said William O'Loughlin, investment analyst at Rivkin Securities. The US economy added the biggest number of jobs in more than 1-1/2 years in February, with non-farm payrolls jumping by 313,000 jobs last month, the Labor Department said on Friday. In oil markets, US energy companies last week cut oil rigs for the first time in almost two months, with drillers cutting back four rigs, to 796, Baker Hughes energy services firm said on Friday. Despite the lower rig count, which is an early indicator of future output, activity remains much higher than a year ago when, when just 617 rigs were active, and most analysts expect US crude oil production, which has already risen by over a fifth since mid-2016, to 10.37 million barrels per day (bpd), to rise further. That's more than top exporter Saudi Arabia producers and almost as much as Russia pumps out, at nearly 11 million bpd. Singapore-based brokerage Phillip Futures said that the oil market "will focus on OPEC and IEA (monthly) reports this week for a sensing on global demand/supply levels for crude oil" and that "items in focus will include OECD commercial stock levels, revision in global demand and supply for crude oil and OPEC's compliance on production levels". The Organization of the Petroleum Exporting Countries (OPEC), together with a group of other producers led by Russia, has been withholding production since the start of 2017 to prop up prices.

Oil prices rise up on reduced US drilling, job market

The BSE Sensex surged over 300 points in early trade and the Nifty reclaimed the 10,300-level on fresh capital inflows by foreign funds ahead of key IIP and inflation data to be released after market hours today.

Asian markets too were trading in the green on strong cues from Wall Street after a better-than-expected US jobs report on Friday.

The 30-share Sensex rallied 301.55 points, or 0.90 per cent, to 33,608.69 in opening trade. The index had lost 44.43 points in the previous session on Friday.

All the sectoral indices, led by IT, Teck, oil &amp; gas, FMCG and realty sectors, were trading in the green with gains up to 1.24 per cent.

The broader NSE Nifty rose 96.10 points, or 0.93 per cent, to 10,322.95.

Major gainers were ITC, Tata Steel, Sun Pharma, Infosys, Wipro, Adani Ports, Bharti Airtel, HDFC, RIL, IndusInd Bank, M&amp;M and L&amp;T, rising up to 2.74.

Meanwhile, SBI dropped nearly 1 per cent to Rs 250.80.

Brokers said fresh buying by investors and foreign funds amid a firm trend in other Asian bourses improved market sentiment.

The rupee too appreciated against the US dollar in opening trade.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 550.36 crore while domestic institutional investors (DIIs) sold shares worth Rs 65.00 crore on Friday, provisional data showed.

In the Asian region, Hong Kong&#39;s Hang Seng was up 1.68 per cent and Shanghai Composite Index rose 0.75 per cent, while Japan Nikkei edged higher by 1.72 per cent in early trade.

Meanwhile, the US Dow Jones Industrial Average ended 1.77 per cent higher on Friday.&nbsp;

Brokers said fresh buying by investors and foreign funds amid a firm trend in other Asian bourses improved market sentiment

The BSE Sensex surged over 300 points in early trade and the Nifty reclaimed the 10,300-level on fresh capital inflows by foreign funds ahead of key IIP and inflation data to be released after market hours today. Asian markets too were trading in the green on strong cues from Wall Street after a better-than-expected US jobs report on Friday. The 30-share Sensex rallied 301.55 points, or 0.90 per cent, to 33,608.69 in opening trade. The index had lost 44.43 points in the previous session on Friday. All the sectoral indices, led by IT, Teck, oil & gas, FMCG and realty sectors, were trading in the green with gains up to 1.24 per cent. The broader NSE Nifty rose 96.10 points, or 0.93 per cent, to 10,322.95. Major gainers were ITC, Tata Steel, Sun Pharma, Infosys, Wipro, Adani Ports, Bharti Airtel, HDFC, RIL, IndusInd Bank, M&M and L&T, rising up to 2.74. Meanwhile, SBI dropped nearly 1 per cent to Rs 250.80. Brokers said fresh buying by investors and foreign funds amid a firm trend in other Asian bourses improved market sentiment. The rupee too appreciated against the US dollar in opening trade. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 550.36 crore while domestic institutional investors (DIIs) sold shares worth Rs 65.00 crore on Friday, provisional data showed. In the Asian region, Hong Kong's Hang Seng was up 1.68 per cent and Shanghai Composite Index rose 0.75 per cent, while Japan Nikkei edged higher by 1.72 per cent in early trade. Meanwhile, the US Dow Jones Industrial Average ended 1.77 per cent higher on Friday.

Sensex zooms 300 points in early trade

Volkswagen India, the Indian subsidiary of the popular German car manufacturer, has launched limited editions of the Vento and the Polo. Dubbed as the Volkswagen Vento Sport and the Polo Pace, the latest special variants come equipped with visual updates that inject some freshness into the design.

The two new models are all about aesthetic changes and remain untouched mechanically.&nbsp;

The new Volkswagen Polo Pace and Vento Sport are now available for sale at the company&#39;s dealerships across India without any change in pricing.&nbsp;

While the new Volkswagen Polo Pace limited edition comes in 1.0L MPI CL variant, the Vento Sport is being offered with five trims that go by the names 1.2 L TSI HL, 1.2 L TSI HL +, 1.5 L TDI HL MT, 1.5 L TDI HL DSG and 1.5 TDL HL + DSG.&nbsp;

Starting with the new Volkswagen Polo Pace limited edition, the car comes with new 15-inch Razor Diamond cut alloy wheels. On the other hand, the new Volkswagen Vento Sport limited edition now gets glossy black spoilers along with gloss roof foil.&nbsp;

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Volkswagen Polo Pace. (Others)
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Besides, the new Vento Sport now runs on 16-inch Portago alloy wheels. The car now receives side foils and in order to distinguish itself from the regular model, it gets a &#39;Sport&#39; chrome badging on the rear fender. Besides this, the new Volkswagen Vento Sports Limited Edition now gets a new Flash Red colour.

The new Polo Pace and Vento Sport will be equipped with the following features:&nbsp;

Vento Sport 
Glossy black spoilers 
Glossy roof foil 
Black carbon finish ORVM 
16&rdquo; Portago Alloy wheels 
Stylish side foils 
Chrome Badge &ldquo;Sport&rdquo; on Fender

Polo Pace 
15&rdquo; Diamond Cut Alloy wheels &ndash; &ldquo;RAZO

The two new models are all about aesthetic changes and remain untouched mechanically

Volkswagen India, the Indian subsidiary of the popular German car manufacturer, has launched limited editions of the Vento and the Polo. Dubbed as the Volkswagen Vento Sport and the Polo Pace, the latest special variants come equipped with visual updates that inject some freshness into the design. The two new models are all about aesthetic changes and remain untouched mechanically. The new Volkswagen Polo Pace and Vento Sport are now available for sale at the company's dealerships across India without any change in pricing. While the new Volkswagen Polo Pace limited edition comes in 1.0L MPI CL variant, the Vento Sport is being offered with five trims that go by the names 1.2 L TSI HL, 1.2 L TSI HL +, 1.5 L TDI HL MT, 1.5 L TDI HL DSG and 1.5 TDL HL + DSG. Starting with the new Volkswagen Polo Pace limited edition, the car comes with new 15-inch Razor Diamond cut alloy wheels. On the other hand, the new Volkswagen Vento Sport limited edition now gets glossy black spoilers along with gloss roof foil. Volkswagen Polo Pace. (Others) × Besides, the new Vento Sport now runs on 16-inch Portago alloy wheels. The car now receives side foils and in order to distinguish itself from the regular model, it gets a 'Sport' chrome badging on the rear fender. Besides this, the new Volkswagen Vento Sports Limited Edition now gets a new Flash Red colour. The new Polo Pace and Vento Sport will be equipped with the following features: Vento Sport Glossy black spoilers Glossy roof foil Black carbon finish ORVM 16” Portago Alloy wheels Stylish side foils Chrome Badge “Sport” on Fender Polo Pace 15” Diamond Cut Alloy wheels – “RAZO

Volkswagen Polo Pace and Vento Sport limited edition launched in India

China Resources Beer (Holdings) Co Ltd is in talks to acquire Heineken NV&rsquo;s China business in a deal that could be worth more than $1 billion, as the country`s largest brewer seeks new growth from premium brands, five people close to the discussions said.&nbsp;

The negotiations come as global beer giants such as Heineken, AB InBev and Carlsberg are facing fierce competition from local rivals and each other in emerging markets, which have been touted as the growth engine for the world`s biggest brewers.&nbsp;

China is the world`s largest beer market by volume. CR Beer`s biggest brand, Snow, is the world`s top-selling beer but is almost exclusively sold in China. 
&nbsp; 
One of the sources said the deal between CR Beer and Heineken would most likely include three breweries - in Guangdong, Hainan and Zhejiang provinces - Heineken`s distribution operation and its brands in China.

The two brewers have discussed a share-swap as part of the transaction, the source said.

Details have not been finalised and talks could yet fall apart, the sources said. They declined to be identified as the information is not public. 
&nbsp; 
CR Beer did not respond to requests for comment. Heineken declined to comment.

Shares of CR Beer jumped as much as 14.4 per cent on Friday in Hong Kong to an all-time high of HK$35.30, following the report published after Thursday`s market close.

&quot;The (CR Beer) stock move is driven by the news about the company`s interest in Heineken`s China business. China Resources already owns the top beer brand in China, but it`s a very local brand,&quot; said Steven Leung, a Hong Kong-based director at brokerage UOB Kay Hian.

&quot;With the acquisition of the Heineken business, the image of the company as a whole will improve, as China is upgrading its consumption quality,&quot; he said. &quot;The sustainability of the rally in the stock will depend on what price they pay for the Heineken business.&quot;

Shares in Amsterdam-listed Heineken rose 3 per cent on Thursday.

Heineken, which entered China in 1983, has struggled to set up a strong distribution network and to make a mark with its flagship Heineken lager, which lags far behind AB InBev`s Budweiser in the premium market, industry analysts say.&nbsp;

The Dutch brewer had a 0.5 per cent share of the China market by volume in 2016, according to research firm Euromonitor International, while CR Beer accounted for more than a quarter.

Heineken sells its premium lagers Heineken, Tiger and Sol in China, along with cheaper local brands Anchor and Hainan Beer.

The company has invested millions of dollars in promoting Heineken as the global lager of choice, predominantly through sports, including soccer and Formula One. Next month will mark its second time as prime sponsor of the Chinese Grand Prix.

Beer sales volume in China has been declining since 2013 and is forecast to continue to fall, according to Euromonitor. Sales of higher-margin premium beers, however, have been growing at a double-digit rate each year during the same period.&nbsp;

&quot;CR Beer doesn&rsquo;t have super-premium lagers, while Heineken has high-end brands but lacks scale in China,&quot; said one source. &quot;Heineken is a natural target for CR Beer.&quot; 
Heineken`s eponymous brand sells for three times the price of Snow in China. Chinese beer drinkers are overwhelmingly consumers of low-margin inexpensive beer, which makes up 80 per cent of the market by volume, compared with an average of 18 per cent in big developed markets, according to Nomura analysts.&nbsp;

Last year Japan`s Asahi Group Holdings sold its 19.9 per cent stake in Tsingtao Brewery Co - CR Beer`s biggest domestic rival - for $937 million as it decided to focus on Europe and elsewhere in Asia.

CR Beer`s interest in Heineken`s China unit follows its takeover in 2016 of SABMiller`s 49 per cent stake in its CR Snow venture for $1.6 billion.

That acquisition helped the Chinese brewer turn around its business. In 2016 it reported its first annual profit in three years after a renewed focus on the Snow brand and expanded sales in key Chinese cities.&nbsp;

Heineken trades on an enterprise value - market capitalisation plus debt - of 12 times its earnings before interest, tax, depreciation and amortisation in the last year.

That is above Carlsberg`s multiple of 10 but far short of CR Beer`s 23.

($1 = 7.8336 Hong Kong dollars)

($1 = 0.8065 euros)

The two brewers have discussed a share-swap as part of the transaction, the source said

China Resources Beer (Holdings) Co Ltd is in talks to acquire Heineken NV’s China business in a deal that could be worth more than $1 billion, as the country`s largest brewer seeks new growth from premium brands, five people close to the discussions said. The negotiations come as global beer giants such as Heineken, AB InBev and Carlsberg are facing fierce competition from local rivals and each other in emerging markets, which have been touted as the growth engine for the world`s biggest brewers. China is the world`s largest beer market by volume. CR Beer`s biggest brand, Snow, is the world`s top-selling beer but is almost exclusively sold in China. One of the sources said the deal between CR Beer and Heineken would most likely include three breweries - in Guangdong, Hainan and Zhejiang provinces - Heineken`s distribution operation and its brands in China. The two brewers have discussed a share-swap as part of the transaction, the source said. Details have not been finalised and talks could yet fall apart, the sources said. They declined to be identified as the information is not public. CR Beer did not respond to requests for comment. Heineken declined to comment. Shares of CR Beer jumped as much as 14.4 per cent on Friday in Hong Kong to an all-time high of HK$35.30, following the report published after Thursday`s market close. "The (CR Beer) stock move is driven by the news about the company`s interest in Heineken`s China business. China Resources already owns the top beer brand in China, but it`s a very local brand," said Steven Leung, a Hong Kong-based director at brokerage UOB Kay Hian. "With the acquisition of the Heineken business, the image of the company as a whole will improve, as China is upgrading its consumption quality," he said. "The sustainability of the rally in the stock will depend on what price they pay for the Heineken business." Shares in Amsterdam-listed Heineken rose 3 per cent on Thursday. Heineken, which entered China in 1983, has struggled to set up a strong distribution network and to make a mark with its flagship Heineken lager, which lags far behind AB InBev`s Budweiser in the premium market, industry analysts say. The Dutch brewer had a 0.5 per cent share of the China market by volume in 2016, according to research firm Euromonitor International, while CR Beer accounted for more than a quarter. Heineken sells its premium lagers Heineken, Tiger and Sol in China, along with cheaper local brands Anchor and Hainan Beer. The company has invested millions of dollars in promoting Heineken as the global lager of choice, predominantly through sports, including soccer and Formula One. Next month will mark its second time as prime sponsor of the Chinese Grand Prix. Beer sales volume in China has been declining since 2013 and is forecast to continue to fall, according to Euromonitor. Sales of higher-margin premium beers, however, have been growing at a double-digit rate each year during the same period. "CR Beer doesn’t have super-premium lagers, while Heineken has high-end brands but lacks scale in China," said one source. "Heineken is a natural target for CR Beer." Heineken`s eponymous brand sells for three times the price of Snow in China. Chinese beer drinkers are overwhelmingly consumers of low-margin inexpensive beer, which makes up 80 per cent of the market by volume, compared with an average of 18 per cent in big developed markets, according to Nomura analysts. Last year Japan`s Asahi Group Holdings sold its 19.9 per cent stake in Tsingtao Brewery Co - CR Beer`s biggest domestic rival - for $937 million as it decided to focus on Europe and elsewhere in Asia. CR Beer`s interest in Heineken`s China unit follows its takeover in 2016 of SABMiller`s 49 per cent stake in its CR Snow venture for $1.6 billion. That acquisition helped the Chinese brewer turn around its business. In 2016 it reported its first annual profit in three years after a renewed focus on the Snow brand and expanded sales in key Chinese cities. Heineken trades on an enterprise value - market capitalisation plus debt - of 12 times its earnings before interest, tax, depreciation and amortisation in the last year. That is above Carlsberg`s multiple of 10 but far short of CR Beer`s 23. ($1 = 7.8336 Hong Kong dollars) ($1 = 0.8065 euros)

China Resources Beer in talks to acquire Heineken's China business: Reports

The BSE Sensex extended gains for the second straight day by rising about 139 points in opening trade on sustained buying by domestic institutional investors amid a firm trend at other Asian bourses.

The 30-share barometer, which had gained 318.48 points in the previous session, was trading higher by 138.52 points, or 0.41 per cent, at 33,490.09. Sectoral indices led by Metal, IT, Teck, Consumer Durables and FMCG led the gains, rising by up to 0.64 per cent.

On similar lines, the NSE Nifty was up by 35.35 points, or 0.34 per cent, at 10,278 points.

Traders said sentiment remained upbeat on increased buying by domestic institutional investors and a firm trend at other Asian markets, extending gains on Wall Street following signs from the White House that US President Donald Trump&#39;s tariffs may be softer than initially feared.

Major gainers that supported the upmove were Bajaj Auto, Bharti Airtel, Asian Paints, Tata Steel, Adani Ports, Hero MotoCorp, HDFC, ITC and Dr Reddy&#39;s, rising by up to 1.03 per cent.

However, Gitanjali Gems remained under selling pressure and traded 4.82 per cent lower at Rs 15.80.

Domestic institutional investors bought shares worth a net Rs 675.26 crore, while foreign portfolio investors sold shares worth a net Rs 364.80 crore yesterday, provisional data showed.

Globally, Hong Kong&#39;s Hang Seng was up 0.85 per cent, Shanghai&#39;s Composite rose 0.11 per cent and Japan&#39;s Nikkei went up by 0.87 per cent in early deals.

The US Dow Jones Industrial Average ended 0.38 per cent higher in yesterday&#39;s trade.&nbsp;

The BSE Sensex extended gains for the second straight day by rising about 139 points in opening trade on sustained buying by domestic institutional investors amid a firm trend at other Asian bourses

The BSE Sensex extended gains for the second straight day by rising about 139 points in opening trade on sustained buying by domestic institutional investors amid a firm trend at other Asian bourses. The 30-share barometer, which had gained 318.48 points in the previous session, was trading higher by 138.52 points, or 0.41 per cent, at 33,490.09. Sectoral indices led by Metal, IT, Teck, Consumer Durables and FMCG led the gains, rising by up to 0.64 per cent. On similar lines, the NSE Nifty was up by 35.35 points, or 0.34 per cent, at 10,278 points. Traders said sentiment remained upbeat on increased buying by domestic institutional investors and a firm trend at other Asian markets, extending gains on Wall Street following signs from the White House that US President Donald Trump's tariffs may be softer than initially feared. Major gainers that supported the upmove were Bajaj Auto, Bharti Airtel, Asian Paints, Tata Steel, Adani Ports, Hero MotoCorp, HDFC, ITC and Dr Reddy's, rising by up to 1.03 per cent. However, Gitanjali Gems remained under selling pressure and traded 4.82 per cent lower at Rs 15.80. Domestic institutional investors bought shares worth a net Rs 675.26 crore, while foreign portfolio investors sold shares worth a net Rs 364.80 crore yesterday, provisional data showed. Globally, Hong Kong's Hang Seng was up 0.85 per cent, Shanghai's Composite rose 0.11 per cent and Japan's Nikkei went up by 0.87 per cent in early deals. The US Dow Jones Industrial Average ended 0.38 per cent higher in yesterday's trade.

Sensex extends gains, up 139 points in early trade on global cues

Snapping their six-day losing streak, stocks staged a strong comeback in early trade today, with the BSE Sensex rebounding by 274 points and the Nifty recapturing the 10,200-mark on fresh buying by domestic institutional investors.

Asian markets were also trading in the green, boosted by easing fears of a global trade war as the White House signalled it would water down plans for contentious metal tariffs.

The 30-share Sensex rose by 273.75 points, or 0.82 per cent, to 33,306.84 in early trade. The gauge had lost 1,412.66 points in the previous six sessions.

All the sectoral indices, led by realty, teck, IT, consumer durables and metal, were trading in the green with gains of up to 1.32 per cent.

The broad-based NSE Nifty went up by 80.65 points or 0.79 per cent to 10.234.85.

Major gainers that supported the recovery were ICICI Bank, HDFC Ltd, Bharti Airtel, Infosys, Tata Steel, RIL, Dr Reddy&#39;s, Axis Bank, ITC, Sun Pharma, Adani Ports, HUL, SBI, L&amp;T and Maruti Suzuki, rising up to 2.11 per cent.

Brokers said buying by domestic institutional investors amid a firm trend at other Asian bourses led the markets higher.

Domestic institutional investors bought shares worth a net Rs 409.34 crore, while foreign portfolio investors sold shares worth a net Rs 719.78 crore yesterday, provisional data showed.

In the Asian region, Hong Kong&#39;s Hang Seng was up 1.41 per cent, Japan&#39;s Nikkei rose 0.75 per cent and Shanghai Composite Index was up by 0.29 per cent in early trade. The US Dow Jones Industrial Average, however, ended 0.33 per cent lower in yesterday&#39;s trade.&nbsp;

Brokers said buying by domestic institutional investors amid a firm trend at other Asian bourses led the markets higher

Snapping their six-day losing streak, stocks staged a strong comeback in early trade today, with the BSE Sensex rebounding by 274 points and the Nifty recapturing the 10,200-mark on fresh buying by domestic institutional investors. Asian markets were also trading in the green, boosted by easing fears of a global trade war as the White House signalled it would water down plans for contentious metal tariffs. The 30-share Sensex rose by 273.75 points, or 0.82 per cent, to 33,306.84 in early trade. The gauge had lost 1,412.66 points in the previous six sessions. All the sectoral indices, led by realty, teck, IT, consumer durables and metal, were trading in the green with gains of up to 1.32 per cent. The broad-based NSE Nifty went up by 80.65 points or 0.79 per cent to 10.234.85. Major gainers that supported the recovery were ICICI Bank, HDFC Ltd, Bharti Airtel, Infosys, Tata Steel, RIL, Dr Reddy's, Axis Bank, ITC, Sun Pharma, Adani Ports, HUL, SBI, L&T and Maruti Suzuki, rising up to 2.11 per cent. Brokers said buying by domestic institutional investors amid a firm trend at other Asian bourses led the markets higher. Domestic institutional investors bought shares worth a net Rs 409.34 crore, while foreign portfolio investors sold shares worth a net Rs 719.78 crore yesterday, provisional data showed. In the Asian region, Hong Kong's Hang Seng was up 1.41 per cent, Japan's Nikkei rose 0.75 per cent and Shanghai Composite Index was up by 0.29 per cent in early trade. The US Dow Jones Industrial Average, however, ended 0.33 per cent lower in yesterday's trade.

Sensex rebounds 274 points, Nifty above 10,200 mark

The BSE Sensex plunged over 284 points today to close at a three-month low of 33,033 on heavy selling in banking stocks amid negative global cues.

Overseas markets were shaky as global trade war concerns intensified after the resignation of White House economic adviser Gary Cohn, brokers said.

The 30-share Sensex tumbled by 284.11 points or 0.85 per cent to end at 33,033.09, its lowest closing since December 7, after shuttling between 32,991.14 and 33,331.21 as infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived.

The index had lost 1,128.55 points in the previous five sessions.

The broader NSE Nifty dipped below the 10,200-mark to finish at 10,154.20, down by 95.05 points, or 0.93 per cent.

Meanwhile, domestic institutional investors (DIIs) net sold shares worth Rs 734.33 crore, while foreign portfolio investors (FPIs) bought shares to the tune of Rs 620.08 crore yesterday.&nbsp;

Overseas markets were shaky as global trade war concerns intensified after the resignation of White House economic adviser Gary Cohn, brokers said.

The BSE Sensex plunged over 284 points today to close at a three-month low of 33,033 on heavy selling in banking stocks amid negative global cues. Overseas markets were shaky as global trade war concerns intensified after the resignation of White House economic adviser Gary Cohn, brokers said. The 30-share Sensex tumbled by 284.11 points or 0.85 per cent to end at 33,033.09, its lowest closing since December 7, after shuttling between 32,991.14 and 33,331.21 as infrastructure, power, capital goods, PSU, healthcare, banking, oil and gas and metal stocks nosedived. The index had lost 1,128.55 points in the previous five sessions. The broader NSE Nifty dipped below the 10,200-mark to finish at 10,154.20, down by 95.05 points, or 0.93 per cent. Meanwhile, domestic institutional investors (DIIs) net sold shares worth Rs 734.33 crore, while foreign portfolio investors (FPIs) bought shares to the tune of Rs 620.08 crore yesterday.

Sensex drops 284 points, ends in red for sixth day

Shares of Gitanjali Gems plunged by another 5 per cent in morning trade as CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies.

The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a &quot;mastermind&quot; who reported directly to diamond trader Mehul Choksi.

Reacting to the development, Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE.

This is the 15th straight session of fall for the stock. It has lost as as much as 80 per cent since February 14, the day PNB fraud came to light.

On NSE, the stock fell to a 52-week low of Rs 17.40.

CBI says Chitalia had left the country in the last week of January, as did the prime accused Nirav Modi and Choksi.

The fraud was allegedly perpetrated by Modi and his uncle Choksi, the promoter of Gitanjali Gems.

It is alleged that they got LoUs and FLCs of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.

Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE.

Shares of Gitanjali Gems plunged by another 5 per cent in morning trade as CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies. The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a "mastermind" who reported directly to diamond trader Mehul Choksi. Reacting to the development, Gitanjali Gems stock slumped 5 per cent to hit its fresh 52-week low of Rs 17.45 on BSE. This is the 15th straight session of fall for the stock. It has lost as as much as 80 per cent since February 14, the day PNB fraud came to light. On NSE, the stock fell to a 52-week low of Rs 17.40. CBI says Chitalia had left the country in the last week of January, as did the prime accused Nirav Modi and Choksi. The fraud was allegedly perpetrated by Modi and his uncle Choksi, the promoter of Gitanjali Gems. It is alleged that they got LoUs and FLCs of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.

Scam-hit Gitanjali Gems hits new low in stock market

Stock markets rallied in Asia on Tuesday as shock over Donald Trump`s controversial trade tariffs move gave way to hope that any measures will not be as bad as initially thought.

The tycoon sparked fears of a global trade war last week when he unveiled plans to slap levies on imports of steel and aluminum.

The news sent markets into a tailspin from Sydney to New York, with investors already on edge at the prospect of rising interest rates and the end of crisis-era central bank stimulus measures.

However, after another down day in Asia Monday, investors in New York rushed back as they bet that Trump would not push through with extreme protectionist policies.

&quot;Given the overwhelmingly negative response from industry leaders, international financial markets and even the furious backlash from loyal members of Trump`s administration, there is growing optimism that perhaps significant exemptions will be forthcoming,&quot; said Stephen Innes, head of Asia-Pacific trade at OANDA.

&quot;Investors remain guardedly optimistic.&quot;

However, he warned that &quot;expecting for cooler heads to prevail might be far too optimistic given that President Trump promoted reforms of US trade policies as a cornerstone of his election campaign, and it`s challenging to envision him backing down.&quot;

Trump campaigned on a protectionist &quot;America First&quot; platform, promising to pull out of global trade deals which he said were hurting US workers. All three main indexes on Wall Street rose between one and 1.4 per cent Monday and those gains filtered through to Asia on Tuesday.

Tokyo ended 1.8 per cent higher, with Kobe Steel up slightly ahead of a news conference in which its CEO Hiroya Kawasaki resigned following publication of a report by the firm that found staff, including executives, changed or falsified inspection data before shipping products.

Hong Kong jumped 1.9 per cent in the afternoon, while Sydney, Seoul, Singapore, and Taipei were all more than one per cent higher. Shanghai reversed early losses to close one per cent higher.

Attention will now turn to the release Friday of US jobs and wage growth data, which will give a fresh idea of the state of the world`s top economy.

Worries about rising wages fuelling inflation and pushing up interest rates sharply have spooked investors since the start of February.

Tuesday`s more upbeat tone helped the dollar against the yen, which had rallied on its safe-haven status. But the US unit slipped against the pound and euro.

The greenback also declined against high-yielding currencies, with the Australian dollar, Korean won and South African rand among the main winners.

Crude prices extended Monday`s gains on reports of easing US stockpiles and news of a halt at an oilfield in Libya.&nbsp;

Prices were also boosted by bullish comments from top energy producers meeting this week at an annual energy gathering in Houston, analysts said.

&quot;Oil prices were `talked up` from the sidelines of the CERAWeek Energy conference by OPEC,&quot; said Sukrit Vijayakar of Trifecta Consultants.

Officials at the conference are widely expected to address a global supply glut, with surging US shale production threatening to derail efforts by OPEC and Russia to stabilize prices by capping output.

 
Tokyo - Nikkei 225: UP 1.8 per cent at 21,417.76 (close)

 
Hong Kong - Hang Seng: UP 1.9 per cent at 30,451.71

 
Shanghai - Composite: UP 1.0 per cent at 3,289.64 (close)

 
Euro/dollar: UP at $1.2352 from $1.2335 at 2200 GMT

 
Pound/dollar: UP at $1.3850 from $1.3844

 
Dollar/yen: UP at 106.23 yen from 106.18 yen

 
Oil - West Texas Intermediate: UP 15 cents at $62.72 per barrel

 
Oil - Brent North Sea: UP 12 cents at $65.66

 
New York - Dow: UP 1.4 per cent at 24,874.76 (close)

 
London - FTSE 100: UP 0.7 per cent at 7,115.98 (close)

Stock markets rallied in Asia on Tuesday as shock over Donald Trump`s controversial trade tariffs move gave way to hope that any measures will not be as bad as initially thought

Stock markets rallied in Asia on Tuesday as shock over Donald Trump`s controversial trade tariffs move gave way to hope that any measures will not be as bad as initially thought. The tycoon sparked fears of a global trade war last week when he unveiled plans to slap levies on imports of steel and aluminum. The news sent markets into a tailspin from Sydney to New York, with investors already on edge at the prospect of rising interest rates and the end of crisis-era central bank stimulus measures. However, after another down day in Asia Monday, investors in New York rushed back as they bet that Trump would not push through with extreme protectionist policies. "Given the overwhelmingly negative response from industry leaders, international financial markets and even the furious backlash from loyal members of Trump`s administration, there is growing optimism that perhaps significant exemptions will be forthcoming," said Stephen Innes, head of Asia-Pacific trade at OANDA. "Investors remain guardedly optimistic." However, he warned that "expecting for cooler heads to prevail might be far too optimistic given that President Trump promoted reforms of US trade policies as a cornerstone of his election campaign, and it`s challenging to envision him backing down." Trump campaigned on a protectionist "America First" platform, promising to pull out of global trade deals which he said were hurting US workers. All three main indexes on Wall Street rose between one and 1.4 per cent Monday and those gains filtered through to Asia on Tuesday. Tokyo ended 1.8 per cent higher, with Kobe Steel up slightly ahead of a news conference in which its CEO Hiroya Kawasaki resigned following publication of a report by the firm that found staff, including executives, changed or falsified inspection data before shipping products. Hong Kong jumped 1.9 per cent in the afternoon, while Sydney, Seoul, Singapore, and Taipei were all more than one per cent higher. Shanghai reversed early losses to close one per cent higher. Attention will now turn to the release Friday of US jobs and wage growth data, which will give a fresh idea of the state of the world`s top economy. Worries about rising wages fuelling inflation and pushing up interest rates sharply have spooked investors since the start of February. Tuesday`s more upbeat tone helped the dollar against the yen, which had rallied on its safe-haven status. But the US unit slipped against the pound and euro. The greenback also declined against high-yielding currencies, with the Australian dollar, Korean won and South African rand among the main winners. Crude prices extended Monday`s gains on reports of easing US stockpiles and news of a halt at an oilfield in Libya. Prices were also boosted by bullish comments from top energy producers meeting this week at an annual energy gathering in Houston, analysts said. "Oil prices were `talked up` from the sidelines of the CERAWeek Energy conference by OPEC," said Sukrit Vijayakar of Trifecta Consultants. Officials at the conference are widely expected to address a global supply glut, with surging US shale production threatening to derail efforts by OPEC and Russia to stabilize prices by capping output. Tokyo - Nikkei 225: UP 1.8 per cent at 21,417.76 (close) Hong Kong - Hang Seng: UP 1.9 per cent at 30,451.71 Shanghai - Composite: UP 1.0 per cent at 3,289.64 (close) Euro/dollar: UP at $1.2352 from $1.2335 at 2200 GMT Pound/dollar: UP at $1.3850 from $1.3844 Dollar/yen: UP at 106.23 yen from 106.18 yen Oil - West Texas Intermediate: UP 15 cents at $62.72 per barrel Oil - Brent North Sea: UP 12 cents at $65.66 New York - Dow: UP 1.4 per cent at 24,874.76 (close) London - FTSE 100: UP 0.7 per cent at 7,115.98 (close)

Asian markets rally on hopes Trump will temper tariffs threat