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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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<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/image%20-%20polo%20pace-20180312025116.jpg" />
<div class="media-description">
Volkswagen Polo Pace. (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

&nbsp;

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

Twitter on Thursday sought help to improve the quality of conversations on its micro-blogging site in a bid to address rising criticism against social media companies for failing to protect users from online abuse and political manipulation.&nbsp;

Twitter`s new approach, it said in a blog, would be based on identifying metrics to gauge the &quot;health of public conversations&quot; and ways to measure it. The social network has created a webpage where anyone can submit their proposals.In a series of tweets on Thursday, Chief Executive Officer Jack Dorsey acknowledged that Twitter `didn`t fully predict or understand the real-world negative consequences` of instant public messaging.&nbsp;

He said negative consequences that Twitter has witnessed include abuse, harassment, troll armies, manipulation through bots and human-coordination, misinformation campaigns and increasingly divisive echo chambers. Dorsey said Twitter has been focusing on removing content that were against its terms but now needed a change in approach.&nbsp;

In August 2016, Twitter said it had deleted 235,000 accounts in six months for promoting extremism. Accusations of Russian meddling in US presidential elections via social networks had turned the heat on social networks over their ability to control content.

Twitter on Thursday sought help to improve the quality of conversations on its micro-blogging site in a bid to address rising criticism against social media companies for failing to protect users from online abuse and political manipulation

Twitter on Thursday sought help to improve the quality of conversations on its micro-blogging site in a bid to address rising criticism against social media companies for failing to protect users from online abuse and political manipulation. Twitter`s new approach, it said in a blog, would be based on identifying metrics to gauge the "health of public conversations" and ways to measure it. The social network has created a webpage where anyone can submit their proposals.In a series of tweets on Thursday, Chief Executive Officer Jack Dorsey acknowledged that Twitter `didn`t fully predict or understand the real-world negative consequences` of instant public messaging. He said negative consequences that Twitter has witnessed include abuse, harassment, troll armies, manipulation through bots and human-coordination, misinformation campaigns and increasingly divisive echo chambers. Dorsey said Twitter has been focusing on removing content that were against its terms but now needed a change in approach. In August 2016, Twitter said it had deleted 235,000 accounts in six months for promoting extremism. Accusations of Russian meddling in US presidential elections via social networks had turned the heat on social networks over their ability to control content.

Twitter seeks proposals to improve content quality on its platform

WhatsApp has now begun testing a new feature that will let a user know if the message sent has been a forwarded one. The move comes in a bid to stop mass-level spam circulation on the platform.&nbsp;

WhatsApp update tracker, WABetaInfo, was the first to sport the feature-in-progress. There is also a possibility that the company will roll-out a feature where users will be able to forward stickers to other chats. The features are currently under-development and disabled.&nbsp;

Meanwhile, WhatsApp has also rolled out a range of new features for iPhone users. WhatsApp&#39;s iPhone version 2.18.30 lets Instagram-like location and time stickers to be added to photos or videos.&nbsp;

WhatsApp update tracker, WABetaInfo, was the first to sport the feature-in-progress

WhatsApp has now begun testing a new feature that will let a user know if the message sent has been a forwarded one. The move comes in a bid to stop mass-level spam circulation on the platform. WhatsApp update tracker, WABetaInfo, was the first to sport the feature-in-progress. There is also a possibility that the company will roll-out a feature where users will be able to forward stickers to other chats. The features are currently under-development and disabled. Meanwhile, WhatsApp has also rolled out a range of new features for iPhone users. WhatsApp's iPhone version 2.18.30 lets Instagram-like location and time stickers to be added to photos or videos.

WhatsApp 'forwarded message' feature in the offing?

Facebook remains the most popular social network among Americans but faces a growing challenge from Snapchat for young audiences, a survey showed Thursday.

The Pew Research Center survey showed Facebook holding the dominant platform with 68 per cent of Americans using the world&#39;s biggest social network.

While Facebook leads the other social networks in all age groups, the gap has narrowed in the key 18-24 segment, where 78 per cent use Snapchat compared with 80 per cent for Facebook, Pew researchers found.

Facebook-owned Instagram, which emphasises pictures and video, is also popular with some 71 per cent of that age segment, Pew found.

The study is the latest highlighting Facebook&#39;s challenge of keeping its core youth audience, while adding older users, amid growth in newer social networks like Snapchat, known for its disappearing messages and media snippets.

&quot;As was true in previous years, Facebook remains the entry point to the world of social media for a majority of Americans,&quot; said Pew research associate director Aaron Smith.

&quot;At the same time, Americans today utilize a diverse range of online social platforms in addition to Facebook. And this is especially true of the youngest adults, many of whom have fully incorporated platforms such as Snapchat and Instagram into their social media diets.&quot;

Pew found the median American uses three social platforms with considerable overlap among Facebook, Instagram and Snapchat.

Twitter, meanwhile, continues to lag other platforms with 24 per cent of Americans using the short messaging service.

Twitter recently reported its first-ever quarterly profit even though its global user base remained unchanged at 330 million compared with more than two billion for Facebook.

Pew said YouTube, which it does not consider a social network even though it has &quot;social elements,&quot; is used by 73 per cent of US adults.

The report is based on a survey via mobile or landline telephone of 2,002 US adults from January 3-10 with a margin of error estimated a 2.4 percentage points for the full sample.

Two weeks ago, a report by eMarketer said Facebook is losing youths at a faster-than-expected pace and that many are turning to Snapchat.

Facebook has launched a Messenger Kids application for users under 12, with parental controls, saying many children already use messaging applications on their own.

Snapchat has faced problems of its own recently amid complaints about an application redesign which separates friends and media content, with a tweet from reality star Kylie Jenner causing a stock plunge.

While Facebook leads the other social networks in all age groups, the gap has narrowed in the key 18-24 segment, where 78 per cent use Snapchat compared with 80 per cent for Facebook, Pew researchers found

Facebook remains the most popular social network among Americans but faces a growing challenge from Snapchat for young audiences, a survey showed Thursday. The Pew Research Center survey showed Facebook holding the dominant platform with 68 per cent of Americans using the world's biggest social network. While Facebook leads the other social networks in all age groups, the gap has narrowed in the key 18-24 segment, where 78 per cent use Snapchat compared with 80 per cent for Facebook, Pew researchers found. Facebook-owned Instagram, which emphasises pictures and video, is also popular with some 71 per cent of that age segment, Pew found. The study is the latest highlighting Facebook's challenge of keeping its core youth audience, while adding older users, amid growth in newer social networks like Snapchat, known for its disappearing messages and media snippets. "As was true in previous years, Facebook remains the entry point to the world of social media for a majority of Americans," said Pew research associate director Aaron Smith. "At the same time, Americans today utilize a diverse range of online social platforms in addition to Facebook. And this is especially true of the youngest adults, many of whom have fully incorporated platforms such as Snapchat and Instagram into their social media diets." Pew found the median American uses three social platforms with considerable overlap among Facebook, Instagram and Snapchat. Twitter, meanwhile, continues to lag other platforms with 24 per cent of Americans using the short messaging service. Twitter recently reported its first-ever quarterly profit even though its global user base remained unchanged at 330 million compared with more than two billion for Facebook. Pew said YouTube, which it does not consider a social network even though it has "social elements," is used by 73 per cent of US adults. The report is based on a survey via mobile or landline telephone of 2,002 US adults from January 3-10 with a margin of error estimated a 2.4 percentage points for the full sample. Two weeks ago, a report by eMarketer said Facebook is losing youths at a faster-than-expected pace and that many are turning to Snapchat. Facebook has launched a Messenger Kids application for users under 12, with parental controls, saying many children already use messaging applications on their own. Snapchat has faced problems of its own recently amid complaints about an application redesign which separates friends and media content, with a tweet from reality star Kylie Jenner causing a stock plunge.

Snapchat challenging Facebook among US youth: Survey

The BSE Sensex dropped by over 137 points or 0.40 per cent to close at 34,046.94 today to extend losses for the third day in a row as fiscal deficit worries and global sell-off triggered by US Fed rate hike fears continued to unsettle investors despite positive macro data.

Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases.

Select auto stocks, however, were in some demand on the back of encouraging February sales numbers.

The 30-share benchmark opened higher and scaled a high of 34,278.63 in early deals after positive GDP data for the third quarter. According to the official data released after market hours yesterday, the GDP growth rate rose to a five-quarter high growth of 7.2 per cent in the October-December quarter on good showing by key sectors like manufacturing.

The core sector growth rate also picked up momentum to touch 6.2 per cent in January.

Stocks however slipped into the negative zone with the BSE Sensex touching a low of 34,015.79 due to continued selling in global markets.

The 30-share barometer settled at 34,046.94, down 137.10 points, or 0.40 per cent as its 20 constituents led by ICICI Bank and SBI ended in the red.

The 50-issue NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.

For the week, the flagship Sensex recorded a fall of 95.21 points, or 0.27 per cent, while the NSE Nifty lost 32.70 points, or 0.31 per cent.

&quot;Markets traded dull and ended lower amid mixed local cues. Initially, participants took note of encouraging GDP figure and uptick in core sector data, which helped index to open higher despite weak global markets. However, further widening of fiscal deficit also dampened the sentiment to some extent and capped upside,&quot; said Jayant Manglik, President, Religare Broking Ltd.

Official data showed that fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure.

Analyst said the market was in &quot;sell on rise&quot; phase as investors preferred to book profits amid global uncertainty.

Asian markets broadly closed with losses, extending a global sell-off on US interest rate hike fears. US Fed chief Jerome Powell who painted a rosy picture about the US economy and hinted at future rate hikes before the Congress was set to speak on Capitol Hill again today.

In the sectoral terms, the BSE metal index fell by 0.95 per cent, bankex (0.85 per cent), realty (0.77 per cent), consumer durables (0.71 per cent), teck (0.65 per cent), healthcare (0.58 per cent), IT (0.53 per cent), power (0.48 per cent) and PSU (0.43 per cent).

In the Sensex pack, ICICI Bank suffered the most by 2.63 per cent, followed by country&#39;s largest state-run SBI 2.31 per cent.

Other laggards include Infosys, Power Grid, HDFC Bank, ITC Ltd, Axis Bank, RIL, Hero MotoCorp, Yes Bank, L&amp;T, Dr Reddy&#39;s, Adani Ports, Sun Pharma, NTPC, TCS an HDFC Ltd, falling up to 1.19 per cent.

In contrast, Coal India, IndusInd Bank, Hindustan Unilever, M&amp;M, Kotak Bank, ONGC, Tata Steel, Tata Motors and Maruti Suzui managed to end in the positive terrain and cushioned the fall.

The broader markets too were under selling pressure from investors with the BSE mid-cap index falling by 0.61 per cent, while small-cap index lost 0.24 per cent.

Globally, Japan&#39;s Nikkei fell 1.56 per cent, while Singapore shed 0.24 per cent. Shanghai Composite Index, however, was up 0.44 per cent and Hong Kong&#39;s Hang Seng rose 0.65 per cent.

In Europe, Frankfurt&#39;s DAX 30 fell 0.50 per cent, while Paris CAC 40 down 0.25 per cent in their early deals. London&#39;s FTSE too fell 0.18 per cent.&nbsp;

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The benchmark Sensex closed down 0.40 per cent at 34,046.94

The BSE Sensex dropped by over 137 points or 0.40 per cent to close at 34,046.94 today to extend losses for the third day in a row as fiscal deficit worries and global sell-off triggered by US Fed rate hike fears continued to unsettle investors despite positive macro data. Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases. Select auto stocks, however, were in some demand on the back of encouraging February sales numbers. The 30-share benchmark opened higher and scaled a high of 34,278.63 in early deals after positive GDP data for the third quarter. According to the official data released after market hours yesterday, the GDP growth rate rose to a five-quarter high growth of 7.2 per cent in the October-December quarter on good showing by key sectors like manufacturing. The core sector growth rate also picked up momentum to touch 6.2 per cent in January. Stocks however slipped into the negative zone with the BSE Sensex touching a low of 34,015.79 due to continued selling in global markets. The 30-share barometer settled at 34,046.94, down 137.10 points, or 0.40 per cent as its 20 constituents led by ICICI Bank and SBI ended in the red. The 50-issue NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15. For the week, the flagship Sensex recorded a fall of 95.21 points, or 0.27 per cent, while the NSE Nifty lost 32.70 points, or 0.31 per cent. "Markets traded dull and ended lower amid mixed local cues. Initially, participants took note of encouraging GDP figure and uptick in core sector data, which helped index to open higher despite weak global markets. However, further widening of fiscal deficit also dampened the sentiment to some extent and capped upside," said Jayant Manglik, President, Religare Broking Ltd. Official data showed that fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure. Analyst said the market was in "sell on rise" phase as investors preferred to book profits amid global uncertainty. Asian markets broadly closed with losses, extending a global sell-off on US interest rate hike fears. US Fed chief Jerome Powell who painted a rosy picture about the US economy and hinted at future rate hikes before the Congress was set to speak on Capitol Hill again today. In the sectoral terms, the BSE metal index fell by 0.95 per cent, bankex (0.85 per cent), realty (0.77 per cent), consumer durables (0.71 per cent), teck (0.65 per cent), healthcare (0.58 per cent), IT (0.53 per cent), power (0.48 per cent) and PSU (0.43 per cent). In the Sensex pack, ICICI Bank suffered the most by 2.63 per cent, followed by country's largest state-run SBI 2.31 per cent. Other laggards include Infosys, Power Grid, HDFC Bank, ITC Ltd, Axis Bank, RIL, Hero MotoCorp, Yes Bank, L&T, Dr Reddy's, Adani Ports, Sun Pharma, NTPC, TCS an HDFC Ltd, falling up to 1.19 per cent. In contrast, Coal India, IndusInd Bank, Hindustan Unilever, M&M, Kotak Bank, ONGC, Tata Steel, Tata Motors and Maruti Suzui managed to end in the positive terrain and cushioned the fall. The broader markets too were under selling pressure from investors with the BSE mid-cap index falling by 0.61 per cent, while small-cap index lost 0.24 per cent. Globally, Japan's Nikkei fell 1.56 per cent, while Singapore shed 0.24 per cent. Shanghai Composite Index, however, was up 0.44 per cent and Hong Kong's Hang Seng rose 0.65 per cent. In Europe, Frankfurt's DAX 30 fell 0.50 per cent, while Paris CAC 40 down 0.25 per cent in their early deals. London's FTSE too fell 0.18 per cent.

Sensex, Nifty fall despite GDP upswing

Telecom operator Aircel on Wednesday said it has filed for bankruptcy as the company has been facing &quot;troubled times&quot; in &quot;highly financially stressed&quot; industry.

In a statement, Aircel said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant &quot;negative business and reputational impact&quot; on the company.

&quot;The Board of Directors of the Corporate Debtor today announced that they have filed an application under Section 10 of the Insolvency and Bankruptcy Code 2016 for undertaking Corporate Insolvency Resolution Process for the respective companies: Aircel Cellular, Dishnet Wireless, Aircel Ltd,&quot; the the statement said.

Sources said that the filing was made in National Company Law Tribunal (NCLT) Mumbai.

The company statement also noted that efforts to merge wireless business with another operator did not yield any results and had ultimately lapsed in September 2017.

&quot;Post detailed discussions with the financial lenders and shareholders, the company could not reach consensus with respect to restructuring of its debt and funding. Despite these discussions and the invoking of a Strategic Debt Restructuring scheme in January 2018...No agreement could be reached,&quot; Aircel said.

The company also said it believes that in the current circumstances, resolution process under the Insolvency and Bankruptcy Code is an &quot;appropriate recourse&quot;.

&quot;The Company would like to emphasise that CIRP is not a proceeding for liquidation, rather is a process to find best possible resolution for the current situation and that would be in the best interest of everyone (vendors, distributors, employees, etc) to protect and preserve the value of the company and manage the operations,&quot; it added.

Aircel said it will strive to provide uninterrupted service connectivity to its customers and sought their support in the &quot;current difficult period&quot;.

Sources said that the filing was made in National Company Law Tribunal (NCLT) Mumbai.

Telecom operator Aircel on Wednesday said it has filed for bankruptcy as the company has been facing "troubled times" in "highly financially stressed" industry. In a statement, Aircel said that intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses had together caused significant "negative business and reputational impact" on the company. "The Board of Directors of the Corporate Debtor today announced that they have filed an application under Section 10 of the Insolvency and Bankruptcy Code 2016 for undertaking Corporate Insolvency Resolution Process for the respective companies: Aircel Cellular, Dishnet Wireless, Aircel Ltd," the the statement said. Sources said that the filing was made in National Company Law Tribunal (NCLT) Mumbai. The company statement also noted that efforts to merge wireless business with another operator did not yield any results and had ultimately lapsed in September 2017. "Post detailed discussions with the financial lenders and shareholders, the company could not reach consensus with respect to restructuring of its debt and funding. Despite these discussions and the invoking of a Strategic Debt Restructuring scheme in January 2018...No agreement could be reached," Aircel said. The company also said it believes that in the current circumstances, resolution process under the Insolvency and Bankruptcy Code is an "appropriate recourse". "The Company would like to emphasise that CIRP is not a proceeding for liquidation, rather is a process to find best possible resolution for the current situation and that would be in the best interest of everyone (vendors, distributors, employees, etc) to protect and preserve the value of the company and manage the operations," it added. Aircel said it will strive to provide uninterrupted service connectivity to its customers and sought their support in the "current difficult period".

Aircel files for bankruptcy; cites intense competition, unsustainable debt

The Sensex and Nifty fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite.

The Nifty closed below 10,500 for the seventh time in nine sessions, ending 0.58 per cent lower at 10,492.85.

The Sensex closed down 0.47 per cent at 34,184.04.

Investors now await October-December gross domestic product data due later in the day for clues about the domestic economy.

The Sensex closed down 0.47 per cent at 34,184.04.

The Sensex and Nifty fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite. The Nifty closed below 10,500 for the seventh time in nine sessions, ending 0.58 per cent lower at 10,492.85. The Sensex closed down 0.47 per cent at 34,184.04. Investors now await October-December gross domestic product data due later in the day for clues about the domestic economy.

Sensex, Nifty down over global cues

The Indian rupee on Wednesday slipped to a three month low in the early trade at the forex market. It opened lower by 25 paise at Rs. 65.12 per dollar versus Rs. 64.87 on Tuesday.

Forex dealers said sustained month-end demand for the American currency from importers, foreign fund outflows and the dollar&#39;s gains against other global currencies weighed on the rupee, according to moneycontrol.

Market indices recovered in afternoon trade, after a morning slump.

In the afternoon trade, the Sensex was down 151 points, trading at 34,194. Nifty, on the other hand, was trading at 10,503, down by 50 points.

Infosys, UPL, GAIL, Cipla were up about one percent.

HPCL, ICICI Bank, Yes Bank, Adani Ports, and Vedanta were down about two to three percent.

The market extended losses in opening trade, tracking weakness in global peers, and due to selling pressure in banking and financials.

Sensex was down 265 points at 34,080 and Nifty slipped 86 points to 10,467.

Moreover, shares of Punjab National Bank (PNB) slumped over six percent intraday and fell to a 20-month low on the bourses after Nirav Modi&#39;s Firestar Diamond filed a bankruptcy plea in the United States, and a local court in Mumbai issued summons to the accused diamantaire. (ANI)

 
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Forex dealers said sustained month-end demand for American dollars from importers, foreign fund outflows, and the dollar's gains against other global currencies weighed on the rupee

The Indian rupee on Wednesday slipped to a three month low in the early trade at the forex market. It opened lower by 25 paise at Rs. 65.12 per dollar versus Rs. 64.87 on Tuesday. Forex dealers said sustained month-end demand for the American currency from importers, foreign fund outflows and the dollar's gains against other global currencies weighed on the rupee, according to moneycontrol. Market indices recovered in afternoon trade, after a morning slump. In the afternoon trade, the Sensex was down 151 points, trading at 34,194. Nifty, on the other hand, was trading at 10,503, down by 50 points. Infosys, UPL, GAIL, Cipla were up about one percent. HPCL, ICICI Bank, Yes Bank, Adani Ports, and Vedanta were down about two to three percent. The market extended losses in opening trade, tracking weakness in global peers, and due to selling pressure in banking and financials. Sensex was down 265 points at 34,080 and Nifty slipped 86 points to 10,467. Moreover, shares of Punjab National Bank (PNB) slumped over six percent intraday and fell to a 20-month low on the bourses after Nirav Modi's Firestar Diamond filed a bankruptcy plea in the United States, and a local court in Mumbai issued summons to the accused diamantaire. (ANI)

Rupee hits three-month low

India might have regained the status of the world&#39;s fastest-growing major economy in the October-December quarter, driven by higher government spending and a pick-up in manufacturing and services.

The median in a Reuters poll on annual growth in the December quarter was 6.9 percent, the best pace in 2017. Forecasts ranged from 6.4 percent to 7.3 percent.

The government will release GDP data on Wednesday around 1200 GMT.

If there was 6.9 percent growth, that would top China&#39;s 6.8 percent annual pace for October-December. The last time India had a faster growth rate was in the final three months of 2016.

India&#39;s expected improvement on its 6.3 percent growth in July-September comes as its manufacturing and services sector have been overcoming teething troubles rooted in the bumpy launch of a national sales tax in July.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/india-to-grow-at-76-in-2018-moodys-34306" target="_blank">India to grow at 7.6% in 2018, says Moody&#39;s</a>

&quot;After muted activity until September, signs of a pick-up in economic growth are starting to appear,&quot; said Aditi Nayar, principal economist at ICRA, the India arm of rating agency Moody&#39;s.

A strong gross domestic product reading could lift domestic shares, and boost the rupee, which has been Asia&#39;s second weakest currency this year, losing about 1.6 percent against the dollar.

The GDP data could help Prime Minister Narendra Modi, who faces criticism over mounting bad loans of state banks and a $1.77 billion fraud at state lender Punjab National Bank &lt;PNB.NS&gt;, the biggest in the country&#39;s banking history.

Last week, Modi told industrialists that his government, which got a &quot;twin balance sheet&quot; problem resulting from bad debt in banks and many businesses, was determined to put the economy back on a higher growth trajectory.

Modi is trying to accelerate growth through higher state spending including 2.1 trillion rupees ($32.36 billion) for recapitalisation of state banks, beset with mounting bad loans of nearly $148 billion.

He has stepped up spending on infrastructure and welfare projects to boost growth ahead of national elections in 2019. This has widened the fiscal deficit for the current fiscal year, ending in March, to 3.5 percent of GDP, instead of the earlier projected 3.2 percent.

In November, Moody&#39;s raised India&#39;s investment grade rating one notch, the rating agency&#39;s first upgrade in nearly 14 years.

NASCENT RECOVERY

India jumped 30 places to break into the top 100 for the first time in World Bank&#39;s Doing Business report 2018.

The International Monetary Fund forecasts India&#39;s economic growth could reach 7.4 percent in 2018 and 7.8 percent in 2019, overtaking rates projected for China of 6.5 percent and 6.4 percent, respectively.

The world&#39;s seventh largest economy, which grew at more than 9 percent a year from 2005 through 2008, is still far from firing on all cylinders. Domestic demand and private investment remain weak.

Urjit Patel, governor of the Reserve Bank of India (RBI), earlier this month said the economic recovery was at a nascent stage and called for a cautious approach. The central bank has kept its key rate unchanged since a 25 basis points cut in August.

India&#39;s investment rate fell close to 30 percent of GDP in 2017 from a peak of 40 percent in 2011.

New Delhi is worried that higher global crude oil prices pose a major risk to its efforts to regain growth momentum as this could hit domestic investment and push up consumer price inflation.

A Reuters poll said India would grow at 6.9 percent, which would top China's 6.8 percent annual pace for October-December

India might have regained the status of the world's fastest-growing major economy in the October-December quarter, driven by higher government spending and a pick-up in manufacturing and services. The median in a Reuters poll on annual growth in the December quarter was 6.9 percent, the best pace in 2017. Forecasts ranged from 6.4 percent to 7.3 percent. The government will release GDP data on Wednesday around 1200 GMT. If there was 6.9 percent growth, that would top China's 6.8 percent annual pace for October-December. The last time India had a faster growth rate was in the final three months of 2016. India's expected improvement on its 6.3 percent growth in July-September comes as its manufacturing and services sector have been overcoming teething troubles rooted in the bumpy launch of a national sales tax in July. Also read: India to grow at 7.6% in 2018, says Moody's "After muted activity until September, signs of a pick-up in economic growth are starting to appear," said Aditi Nayar, principal economist at ICRA, the India arm of rating agency Moody's. A strong gross domestic product reading could lift domestic shares, and boost the rupee, which has been Asia's second weakest currency this year, losing about 1.6 percent against the dollar. The GDP data could help Prime Minister Narendra Modi, who faces criticism over mounting bad loans of state banks and a $1.77 billion fraud at state lender Punjab National Bank <PNB.NS>, the biggest in the country's banking history. Last week, Modi told industrialists that his government, which got a "twin balance sheet" problem resulting from bad debt in banks and many businesses, was determined to put the economy back on a higher growth trajectory. Modi is trying to accelerate growth through higher state spending including 2.1 trillion rupees ($32.36 billion) for recapitalisation of state banks, beset with mounting bad loans of nearly $148 billion. He has stepped up spending on infrastructure and welfare projects to boost growth ahead of national elections in 2019. This has widened the fiscal deficit for the current fiscal year, ending in March, to 3.5 percent of GDP, instead of the earlier projected 3.2 percent. In November, Moody's raised India's investment grade rating one notch, the rating agency's first upgrade in nearly 14 years. NASCENT RECOVERY India jumped 30 places to break into the top 100 for the first time in World Bank's Doing Business report 2018. The International Monetary Fund forecasts India's economic growth could reach 7.4 percent in 2018 and 7.8 percent in 2019, overtaking rates projected for China of 6.5 percent and 6.4 percent, respectively. The world's seventh largest economy, which grew at more than 9 percent a year from 2005 through 2008, is still far from firing on all cylinders. Domestic demand and private investment remain weak. Urjit Patel, governor of the Reserve Bank of India (RBI), earlier this month said the economic recovery was at a nascent stage and called for a cautious approach. The central bank has kept its key rate unchanged since a 25 basis points cut in August. India's investment rate fell close to 30 percent of GDP in 2017 from a peak of 40 percent in 2011. New Delhi is worried that higher global crude oil prices pose a major risk to its efforts to regain growth momentum as this could hit domestic investment and push up consumer price inflation.

India may have grown faster than China in October-December quarter

Moody&#39;s Investors Service today estimated that India will grow 7.6 per cent in calendar year 2018 and 7.5 per cent in 2019, amid signs of economic recovery from impact of demonetisation and GST.

&quot;There are some signs that the Indian economy is starting to recover from the soft growth patch attributed to the negative impact of the demonetisation undertaken in 2016 and disruption related to last year?s rollout of the Goods and Service Tax,&quot; it said.

The Budget for 2018-19 includes some measures that could stabilise the rural economy that was disproportionately hit by the demonetization policy and is yet to recover, it said.

&quot;As we have said before, the bank recapitalisation plan should also help credit growth over time, thereby supporting growth,&quot; Moody&#39;s said.&nbsp;

'There are some signs that the Indian economy is starting to recover from the soft growth patch attributed to the negative impact of the demonetisation undertaken in 2016 and disruption related to last year?s rollout of the Goods and Service Tax,' said Moody's

Moody's Investors Service today estimated that India will grow 7.6 per cent in calendar year 2018 and 7.5 per cent in 2019, amid signs of economic recovery from impact of demonetisation and GST. "There are some signs that the Indian economy is starting to recover from the soft growth patch attributed to the negative impact of the demonetisation undertaken in 2016 and disruption related to last year?s rollout of the Goods and Service Tax," it said. The Budget for 2018-19 includes some measures that could stabilise the rural economy that was disproportionately hit by the demonetization policy and is yet to recover, it said. "As we have said before, the bank recapitalisation plan should also help credit growth over time, thereby supporting growth," Moody's said.

India to grow at 7.6% in 2018: Moody's

Falling for the third straight session, the rupee weakened by 23 paise to 65.10 against the US dollar to hit its three-month low in opening trade at the forex market today.

The dollar firmed up against select global currencies as US Federal Reserve Chairman Jerome Powell&#39;s upbeat views on the economy bolstered bets on further Fed interest rate hikes this year.

Forex dealers said sustained month-end demand for the American currency from importers, foreign fund outflows and the dollar&#39;s gains against other global currencies weighed on the rupee.

Investors were also cautious ahead of GDP and IIP numbers to be released later in the day.

Yesterday, the local currency had lost by 8 paise to end at 64.87 against the American unit on sustained dollar demand from importers and banks amid heavy capital outflows.

Meanwhile, the benchmark BSE Sensex fell 99.36 points to 34,346.3 in early trade.&nbsp;

Falling for the third straight session, the rupee weakened by 23 paise to 65.10 against the US dollar to hit its three-month low in opening trade at the forex market today. The dollar firmed up against select global currencies as US Federal Reserve Chairman Jerome Powell's upbeat views on the economy bolstered bets on further Fed interest rate hikes this year. Forex dealers said sustained month-end demand for the American currency from importers, foreign fund outflows and the dollar's gains against other global currencies weighed on the rupee. Investors were also cautious ahead of GDP and IIP numbers to be released later in the day. Yesterday, the local currency had lost by 8 paise to end at 64.87 against the American unit on sustained dollar demand from importers and banks amid heavy capital outflows. Meanwhile, the benchmark BSE Sensex fell 99.36 points to 34,346.3 in early trade.

Sensex opens in red, falls 99 points in early trade

The benchmark BSE Sensex gained over 132 points to 34,578.39 in early trade today, rising for the third straight session today on buying by domestic institutional investors (DIIs) amid strong global cues. 
 
Investors are also eyeing Q3 GDP data, to be released tomorrow. Market sentiment was bolstered after a Morgan Stanley report said India&#39;s economic recovery is expected to have gathered momentum and GDP growth for the December quarter is likely to have accelerated to 7 per cent, broker said.

Benchmark BSE Sensex advanced by 132.64 points, or 0.38 per cent, to 34,578.39 in early session today.

The gauge has gained 626.25 points in the previous two sessions.

All sectoral indices were trading in the green, led by gains in oil and gas, consumer durables, auto, banking, power, PSU, metals, FMCG and healthcare counters.

The NSE Nifty50 reclaimed the 10,600-mark, by rising 32.65, or 0.30 per cent, to 10,615.25.

On a net basis, DIIs bought shares worth Rs 1,409.45 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,119.51 crore yesterday, provisional data released by stock exchanges showed.

Top gainers included Yes Bank, RIL, ONGC, TCS, Dr Reddy&#39;s, Asian Paints, M&amp;M, Wipro, HDFC Bank and Coal India, rising up to 1.75 per cent.

Meanwhile, shares of Punjab National Bank today slumped as much as 9 per cent to touch its 52 week low level in morning trade after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore.

Gitanjali gems, too, cracked nearly 5 per cent.

Overseas, Asian shares were trading higher following gains on Wall Street overnight ahead of Fed chair Jerome Powell&#39;s first congressional testimony later in the day.

Japan&#39;s Nikkei gained 1.39 per cent, Hong Kong&#39;s Hang Seng was up 0.06 per cent, while Shanghai Composite was down 0.97 per cent in early trading today.

The US Dow Jones Industrial Average ended 1.58 per cent higher yesterday on fall in US bond yields.&nbsp;

The Sensex rose 132 points in early trade today

The benchmark BSE Sensex gained over 132 points to 34,578.39 in early trade today, rising for the third straight session today on buying by domestic institutional investors (DIIs) amid strong global cues. Investors are also eyeing Q3 GDP data, to be released tomorrow. Market sentiment was bolstered after a Morgan Stanley report said India's economic recovery is expected to have gathered momentum and GDP growth for the December quarter is likely to have accelerated to 7 per cent, broker said. Benchmark BSE Sensex advanced by 132.64 points, or 0.38 per cent, to 34,578.39 in early session today. The gauge has gained 626.25 points in the previous two sessions. All sectoral indices were trading in the green, led by gains in oil and gas, consumer durables, auto, banking, power, PSU, metals, FMCG and healthcare counters. The NSE Nifty50 reclaimed the 10,600-mark, by rising 32.65, or 0.30 per cent, to 10,615.25. On a net basis, DIIs bought shares worth Rs 1,409.45 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,119.51 crore yesterday, provisional data released by stock exchanges showed. Top gainers included Yes Bank, RIL, ONGC, TCS, Dr Reddy's, Asian Paints, M&M, Wipro, HDFC Bank and Coal India, rising up to 1.75 per cent. Meanwhile, shares of Punjab National Bank today slumped as much as 9 per cent to touch its 52 week low level in morning trade after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore. Gitanjali gems, too, cracked nearly 5 per cent. Overseas, Asian shares were trading higher following gains on Wall Street overnight ahead of Fed chair Jerome Powell's first congressional testimony later in the day. Japan's Nikkei gained 1.39 per cent, Hong Kong's Hang Seng was up 0.06 per cent, while Shanghai Composite was down 0.97 per cent in early trading today. The US Dow Jones Industrial Average ended 1.58 per cent higher yesterday on fall in US bond yields.

Sensex extends rally, Nifty climbs over 10,600

Shares of Punjab National Bank today slumped as much as 9 per cent to hit their 52-week low level in morning trade on bourses after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore.

The&nbsp;company&#39;s shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE.

Similar movement was seen on the NSE too, where the stock opened at Rs 106.80, then fell to its 52-week low of Rs 102, down 8.92 per cent over its previous close.

Amid the multi-agency probe into the PNB scam, the state-run bank yesterday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore.

On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders.

&quot;We have to inform that quantum of reported unauthorised transactions can increase by&nbsp;$204.25 million (approximately),&quot; the filing said.

At the current exchange rate, the amount comes to around Rs 1,323 crore.&nbsp;

The company's shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE

Shares of Punjab National Bank today slumped as much as 9 per cent to hit their 52-week low level in morning trade on bourses after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore. The company's shares opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE. Similar movement was seen on the NSE too, where the stock opened at Rs 106.80, then fell to its 52-week low of Rs 102, down 8.92 per cent over its previous close. Amid the multi-agency probe into the PNB scam, the state-run bank yesterday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore. On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders. "We have to inform that quantum of reported unauthorised transactions can increase by $204.25 million (approximately)," the filing said. At the current exchange rate, the amount comes to around Rs 1,323 crore.

PNB scam: Punjab National Bank stock slumps 9% to hit 52-week low

India&#39;s economy grew at its fastest pace in a year in the October-December quarter as consumers, businesses and the government stepped up spending, a Reuters poll predicted.

This suggests that disruptions from a shock ban on high-value currency notes in November 2016 and the chaotic launch of a goods and services tax (GST) in July are fading.

Gross domestic product grew 6.9 percent in the October-December quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week.

If the data, due at 1200 GMT on Feb. 28, matches the consensus, the quarter will have the best growth rate in 2017.

In July-September, the economy grew 6.3 percent annually, a return to a faster growth trajectory after five consecutive quarters of slowdown.

In the latest quarter, &quot;government spending was stronger and private consumption demand was robust as well, as seen in strong growth in auto sales,&quot; said Abhishek Upadhyay, economist at ICICI Securities PD.

&quot;Recent buoyancy in indicators such as cement output also points to recovery in segments such as construction, and real estate that were hit most from demonetization.&quot;

Still, growth in the world&#39;s seventh largest economy is far from the near-double digits pace recorded during the years before the financial crisis.

What has also weighed on the economy is exports, which took a hit last year from an appreciating rupee, which strengthened 6.5 percent against the dollar in 2017.

While down around 1 percent this year, the rupee is not expected to weaken significantly, according to a separate Reuters poll of foreign exchange strategists.

CONCERN ON BANKING

Economists in the latest poll were also concerned about the increase in non-performing assets of state-run banks, and said if they are not handled effectively it would hurt economic activity.

Adding to those worries, the second biggest state lender, Punjab National Bank this month revealed a loan fraud that&#39;s the biggest in India&#39;s banking history.

The fraud has cast a shadow over the workings of state-run lenders, already reeling from accumulated bad loans accumulated that are higher than those of banks in most major economies.

While stress on bank balance sheets is a drag and the clean-up exercise &quot;may still take time&quot;, it&#39;s likely that economic growth should get better, Upadhyay said.

The poll also predicted India&#39;s gross value-added (GVA) - the growth measure that the government prefers - increased 6.6 percent from a year earlier in October-December from a year earlier, compared to 6.1 percent in the prior three months.

That should provide some relief to the Reserve Bank of India which is performing a delicate balancing act of monitoring inflation and nurturing growth.

Retail inflation eased in January after a 17-month spike in December, but was still above the 4 percent medium-term target of the central bank.

While the RBI kept rates on hold at its Feb. 7 meeting, the minutes showed monetary committee members concerned about the rising inflation rate.

The Reuters poll suggests disruptions from demonetisation and GST are are fading

India's economy grew at its fastest pace in a year in the October-December quarter as consumers, businesses and the government stepped up spending, a Reuters poll predicted. This suggests that disruptions from a shock ban on high-value currency notes in November 2016 and the chaotic launch of a goods and services tax (GST) in July are fading. Gross domestic product grew 6.9 percent in the October-December quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week. If the data, due at 1200 GMT on Feb. 28, matches the consensus, the quarter will have the best growth rate in 2017. In July-September, the economy grew 6.3 percent annually, a return to a faster growth trajectory after five consecutive quarters of slowdown. In the latest quarter, "government spending was stronger and private consumption demand was robust as well, as seen in strong growth in auto sales," said Abhishek Upadhyay, economist at ICICI Securities PD. "Recent buoyancy in indicators such as cement output also points to recovery in segments such as construction, and real estate that were hit most from demonetization." Still, growth in the world's seventh largest economy is far from the near-double digits pace recorded during the years before the financial crisis. What has also weighed on the economy is exports, which took a hit last year from an appreciating rupee, which strengthened 6.5 percent against the dollar in 2017. While down around 1 percent this year, the rupee is not expected to weaken significantly, according to a separate Reuters poll of foreign exchange strategists. CONCERN ON BANKING Economists in the latest poll were also concerned about the increase in non-performing assets of state-run banks, and said if they are not handled effectively it would hurt economic activity. Adding to those worries, the second biggest state lender, Punjab National Bank this month revealed a loan fraud that's the biggest in India's banking history. The fraud has cast a shadow over the workings of state-run lenders, already reeling from accumulated bad loans accumulated that are higher than those of banks in most major economies. While stress on bank balance sheets is a drag and the clean-up exercise "may still take time", it's likely that economic growth should get better, Upadhyay said. The poll also predicted India's gross value-added (GVA) - the growth measure that the government prefers - increased 6.6 percent from a year earlier in October-December from a year earlier, compared to 6.1 percent in the prior three months. That should provide some relief to the Reserve Bank of India which is performing a delicate balancing act of monitoring inflation and nurturing growth. Retail inflation eased in January after a 17-month spike in December, but was still above the 4 percent medium-term target of the central bank. While the RBI kept rates on hold at its Feb. 7 meeting, the minutes showed monetary committee members concerned about the rising inflation rate.

GDP growth in October-December likely to be 6.9%, best in 2017: Poll

The benchmark BSE Sensex rose over 134 points on Monday on sustained buying in key frontline counters led by metal, auto, capital goods and banking stocks.

Sentiments bolstered in all Asian markets following positive cues from Wall Street.

Also, continued buying by domestic institutional investors (DIIs) and strengthening rupee boosted market mood, brokers said.

The BSE Sensex rose 133.78 points, or 0.39 per cent, to 34,275.93. All sectoral indices were trading higher, led by metals, auto, capital goods and banking stocks that gained up to 1.34 per cent.

The gauge had gained 322.65 points in the previous session on Friday.

The broader Nifty 50 index was also trading above the key 10,500-level at 10,529.10, a gain of 38.05 points, or 0.36 per cent.

Major gainers were Tata Motors, Adani Ports, Bajaj Auto and Maruti, rising up to 2.26 per cent.

On a net basis, DIIs bought equities to the tune of Rs 1,514.03 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 486.32 crore on Friday, provisional data showed.

Among Asian markets, Japan&#39;s Nikkei was trading higher by 0.82 per cent. Hong Kong&#39;s Hang Seng up 0.54 per cent and Shanghai Composite 0.31 per cent higher.

The US Dow Jones Industrial Average ended 1.39 per cent higher on Friday&#39;s trade.&nbsp;

Major gainers were Tata Motors, Adani Ports, Bajaj Auto and Maruti, rising up to 2.26

The benchmark BSE Sensex rose over 134 points on Monday on sustained buying in key frontline counters led by metal, auto, capital goods and banking stocks. Sentiments bolstered in all Asian markets following positive cues from Wall Street. Also, continued buying by domestic institutional investors (DIIs) and strengthening rupee boosted market mood, brokers said. The BSE Sensex rose 133.78 points, or 0.39 per cent, to 34,275.93. All sectoral indices were trading higher, led by metals, auto, capital goods and banking stocks that gained up to 1.34 per cent. The gauge had gained 322.65 points in the previous session on Friday. The broader Nifty 50 index was also trading above the key 10,500-level at 10,529.10, a gain of 38.05 points, or 0.36 per cent. Major gainers were Tata Motors, Adani Ports, Bajaj Auto and Maruti, rising up to 2.26 per cent. On a net basis, DIIs bought equities to the tune of Rs 1,514.03 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 486.32 crore on Friday, provisional data showed. Among Asian markets, Japan's Nikkei was trading higher by 0.82 per cent. Hong Kong's Hang Seng up 0.54 per cent and Shanghai Composite 0.31 per cent higher. The US Dow Jones Industrial Average ended 1.39 per cent higher on Friday's trade.

Sensex rises 134 points, Nifty tops 10,500 on global cues

Sensex and Nifty closed on a high due to gains in global equities, as investors bought shares of recent underperformers such as pharma and financials.

The BSE&nbsp;Sensex jumped 322.65 points to close at 34,142.15 ending 0.39 per cent higher for the week.&nbsp;

Nifty rose 108.35 pts to 10,491.05 gaining 0.37 per cent.

In addition, the rupee rising to to 64.76 against the US dollar (intra-day) and sustained pumping of funds by DIIs also supported the recovery.

The Sensex hit the session&#39;s high of 34,167.60, but finally, the gauge settled higher by 322.65 points, or 0.95 per cent, at 34,142.15, a level last seen on February 15.

The index had shed 25.36 points in the previous session.

The broader NSE Nifty also stayed in the positive zone and touched a high of 10,499.10 before closing 108.35 points, or 1.04 per cent, higher at 10,491.05.

For the week, the Sensex recorded 131.39 points, or 0.38 per cent; while Nifty gained 38.75 points, or 0.37 per cent.

Sensex jumped 322.65 points to close at 34,142.15

Sensex and Nifty closed on a high due to gains in global equities, as investors bought shares of recent underperformers such as pharma and financials. The BSE Sensex jumped 322.65 points to close at 34,142.15 ending 0.39 per cent higher for the week. Nifty rose 108.35 pts to 10,491.05 gaining 0.37 per cent. In addition, the rupee rising to to 64.76 against the US dollar (intra-day) and sustained pumping of funds by DIIs also supported the recovery. The Sensex hit the session's high of 34,167.60, but finally, the gauge settled higher by 322.65 points, or 0.95 per cent, at 34,142.15, a level last seen on February 15. The index had shed 25.36 points in the previous session. The broader NSE Nifty also stayed in the positive zone and touched a high of 10,499.10 before closing 108.35 points, or 1.04 per cent, higher at 10,491.05. For the week, the Sensex recorded 131.39 points, or 0.38 per cent; while Nifty gained 38.75 points, or 0.37 per cent.

Sensex, Nifty close on a high

China&#39;s Huawei is forging closer commercial ties with big telecom operators across Europe and Asia, putting the company in prime position to lead the global race for next-generation 5G networks despite US&nbsp;allegations it poses a security threat.

Huawei&#39;s dominant position in China - set to become the world&#39;s biggest 5G market by far - is well-documented. However, it has also been making in-roads in the rest of world to compete with rivals Ericsson and Nokia in several lucrative markets, including countries that are longstanding US&nbsp;allies.

5G networks, now in the testing stage, will rely on denser arrays of small antennas and the cloud to offer data speeds up to 50 or 100 times faster than current 4G networks and serve as critical infrastructure for a range of industries.

Deals to start building 5G networks are still largely a year away, but Huawei has signed 25 Memorandums of Understanding (MoUs) with telecom operators to trial 5G equipment, a Reuters review of company reports and announcements found.

These MoUs - pre-cursors to potential commercial contracts - include agreements with Britain&#39;s BT, Bell Canada (BCE), France&#39;s Orange Germany&#39;s Deutsche Telekom and global player Vodafone.&nbsp;

Huawei lags behind Sweden&#39;s Ericsson, with 38 MoUs, and Finland&#39;s Nokia, with 31, according to the data, which does not include deals that have not been made public.

However, the Chinese company&#39;s existing partnerships with operators could give it an extra edge; as of 2016, Huawei said it had supplied more than half of the 537 4G networks globally and 59 of the 90 4.5G networks - an intermediate step before 5G.

&quot;Existing network footprint is important because operators still need to maintain their legacy ... networks and could save money by using the same vendors,&quot; said Stefan Pongratz, a top industry analyst with research firm Dell&#39;Oro.

Huawei also has the home advantage: the firm and smaller, domestic-focused peer ZTE are each guaranteed about a third of China&#39;s 5G network contracts, under Beijing&#39;s policy, while foreign players have to compete for slivers of the market.

By 2025, 1.2 billion people worldwide are set to have access to 5G networks - a third of them in China, according to the GSMA, a global trade group of nearly 800 mobile operators.&nbsp;

There are however potential risks ahead; Huawei, like its rivals, has spent billions of dollars developing 5G network technology, there are no guarantees about when operators around the world will adopt the new technology.&nbsp;

Many cash-strapped operators want to see significant consumer and business demand before allocating capital, something out of Huawei&#39;s control. Some emerging markets have yet to adopt 4G, putting major 5G moves at least a decade off.&nbsp;

Triple the size

Unlisted Huawei is triple the size of either Nokia and Ericsson in terms of its annual revenue, which totalled about $92 billion last year, half of it from China. It sold 32 percent of global mobile radio access gear - antennas and base stations - in the last quarter, against Ericsson&#39;s 30 percent and Nokia&#39;s 25 percent, according to market research firm Dell&#39;Oro.&nbsp;

Ericsson has been under heavy pressure to cut costs in recent years at a time of dwindling profits, while Nokia has had to integrate multiple acquisitions in its networks business.&nbsp;

Nokia said it was confident its broad 5G portfolio, which also includes software and services to manage networks, would allow it to win a bigger slice of the telecoms market.&nbsp;

Ericsson said its longstanding ties with customers and advanced 5G patent portfolio would keep it competitive. &quot;All our customers are looking at 5G,&quot; a spokesman said.

Huawei&#39;s 5G MoUs include non-binding agreements with big telecom operators in South Korea, Japan and Australia, Italy, Turkey and Saudi Arabia, on top of Britain, Germany, France and Canada.&nbsp;

Potential commercial benefits aside, these agreements indicate that many countries allied to the United States do not share Washington&#39;s security concerns.

A bill introduced in the US&nbsp;Senate earlier this month would bar equipment from Huawei from any US&nbsp;government networks to prevent Chinese spying. A leaked presentation from a US&nbsp;National Security Council staffer earlier this year suggested the US&nbsp;government build its own 5G network - a proposal that was widely ridiculed by industry experts.

Huawei categorically rejects US&nbsp;spying concerns.&nbsp;

&quot;Huawei is trusted by governments and customers in 170 countries worldwide and poses no greater cyber-security risk than any (communications) vendor, sharing as we do common global supply chains and production capabilities,&quot; a spokesman said.&nbsp;

Operations reject spying fears&nbsp;

Bruce Rodin, vice president of wireless networks for Bell Canada, said his company used an external cyber-security firm to conduct extensive testing of Huawei products.

&quot;We&#39;ve been doing it for about 10 years and never seen malicious code or backdoors,&quot; Rodin told Reuters, characterising the US&nbsp;moves as an effort to protect American companies. &quot;It&#39;s a commercial thing. They are protecting their industry,&quot; he said.&nbsp;

Deutsche Telekom said it cooperates with Huawei on many levels and found no evidence of security risks. &quot;The hardware is built to Deutsche Telekom&#39;s specifications and is examined by our own security department,&quot; a spokesman said. Orange told Reuters it is cautious with Huawei &quot;as with any supplier.&quot;&nbsp;

Thomas Jarzombek, a member of the German parliament and digital spokesman for Angela Merkel&#39;s Christian Democrats, said that in the wake of revelations about US&nbsp;spying by former NSA contractor Edward Snowden, American tech companies were not necessarily to be trusted either.&nbsp;

This month, a trade mission by British Prime Minister Theresa May to China included a glowing endorsement of Huawei for its commitment to Britain.

Debates over the timing of 5G deployment will top the agenda at Mobile World Congress, Europe&#39;s biggest annual technology conference taking place next week in Barcelona. The industry is counting on the new technology to trigger a wave of growth in equipment sales and mobile services starting in 2020. 
&nbsp;

Huawei's dominant position in China - set to become the world's biggest 5G market by far - is well-documented

China's Huawei is forging closer commercial ties with big telecom operators across Europe and Asia, putting the company in prime position to lead the global race for next-generation 5G networks despite US allegations it poses a security threat. Huawei's dominant position in China - set to become the world's biggest 5G market by far - is well-documented. However, it has also been making in-roads in the rest of world to compete with rivals Ericsson and Nokia in several lucrative markets, including countries that are longstanding US allies. 5G networks, now in the testing stage, will rely on denser arrays of small antennas and the cloud to offer data speeds up to 50 or 100 times faster than current 4G networks and serve as critical infrastructure for a range of industries. Deals to start building 5G networks are still largely a year away, but Huawei has signed 25 Memorandums of Understanding (MoUs) with telecom operators to trial 5G equipment, a Reuters review of company reports and announcements found. These MoUs - pre-cursors to potential commercial contracts - include agreements with Britain's BT, Bell Canada (BCE), France's Orange Germany's Deutsche Telekom and global player Vodafone. Huawei lags behind Sweden's Ericsson, with 38 MoUs, and Finland's Nokia, with 31, according to the data, which does not include deals that have not been made public. However, the Chinese company's existing partnerships with operators could give it an extra edge; as of 2016, Huawei said it had supplied more than half of the 537 4G networks globally and 59 of the 90 4.5G networks - an intermediate step before 5G. "Existing network footprint is important because operators still need to maintain their legacy ... networks and could save money by using the same vendors," said Stefan Pongratz, a top industry analyst with research firm Dell'Oro. Huawei also has the home advantage: the firm and smaller, domestic-focused peer ZTE are each guaranteed about a third of China's 5G network contracts, under Beijing's policy, while foreign players have to compete for slivers of the market. By 2025, 1.2 billion people worldwide are set to have access to 5G networks - a third of them in China, according to the GSMA, a global trade group of nearly 800 mobile operators. There are however potential risks ahead; Huawei, like its rivals, has spent billions of dollars developing 5G network technology, there are no guarantees about when operators around the world will adopt the new technology. Many cash-strapped operators want to see significant consumer and business demand before allocating capital, something out of Huawei's control. Some emerging markets have yet to adopt 4G, putting major 5G moves at least a decade off. Triple the size Unlisted Huawei is triple the size of either Nokia and Ericsson in terms of its annual revenue, which totalled about $92 billion last year, half of it from China. It sold 32 percent of global mobile radio access gear - antennas and base stations - in the last quarter, against Ericsson's 30 percent and Nokia's 25 percent, according to market research firm Dell'Oro. Ericsson has been under heavy pressure to cut costs in recent years at a time of dwindling profits, while Nokia has had to integrate multiple acquisitions in its networks business. Nokia said it was confident its broad 5G portfolio, which also includes software and services to manage networks, would allow it to win a bigger slice of the telecoms market. Ericsson said its longstanding ties with customers and advanced 5G patent portfolio would keep it competitive. "All our customers are looking at 5G," a spokesman said. Huawei's 5G MoUs include non-binding agreements with big telecom operators in South Korea, Japan and Australia, Italy, Turkey and Saudi Arabia, on top of Britain, Germany, France and Canada. Potential commercial benefits aside, these agreements indicate that many countries allied to the United States do not share Washington's security concerns. A bill introduced in the US Senate earlier this month would bar equipment from Huawei from any US government networks to prevent Chinese spying. A leaked presentation from a US National Security Council staffer earlier this year suggested the US government build its own 5G network - a proposal that was widely ridiculed by industry experts. Huawei categorically rejects US spying concerns. "Huawei is trusted by governments and customers in 170 countries worldwide and poses no greater cyber-security risk than any (communications) vendor, sharing as we do common global supply chains and production capabilities," a spokesman said. Operations reject spying fears Bruce Rodin, vice president of wireless networks for Bell Canada, said his company used an external cyber-security firm to conduct extensive testing of Huawei products. "We've been doing it for about 10 years and never seen malicious code or backdoors," Rodin told Reuters, characterising the US moves as an effort to protect American companies. "It's a commercial thing. They are protecting their industry," he said. Deutsche Telekom said it cooperates with Huawei on many levels and found no evidence of security risks. "The hardware is built to Deutsche Telekom's specifications and is examined by our own security department," a spokesman said. Orange told Reuters it is cautious with Huawei "as with any supplier." Thomas Jarzombek, a member of the German parliament and digital spokesman for Angela Merkel's Christian Democrats, said that in the wake of revelations about US spying by former NSA contractor Edward Snowden, American tech companies were not necessarily to be trusted either. This month, a trade mission by British Prime Minister Theresa May to China included a glowing endorsement of Huawei for its commitment to Britain. Debates over the timing of 5G deployment will top the agenda at Mobile World Congress, Europe's biggest annual technology conference taking place next week in Barcelona. The industry is counting on the new technology to trigger a wave of growth in equipment sales and mobile services starting in 2020.

China's Huawei set to lead global charge to 5G networks

SEBI on Friday asked HDFC Bank to identify individuals, including bank officials responsible for the leakage of its financial results, as the markets regulator has found inadequate controls at the lender as &#39;prima facie&#39; reason for the leak.

In the high-profile leakage case where sensitive financial details of various companies, including HDFC Bank, got leaked on WhatsApp before their formal announcement, SEBI virtually censured the top private sector lender and asked it to strengthen the systems and controls to check any such leak in future.

&quot;HDFC Bank shall strengthen its processes/ systems/ controls forthwith to ensure that such instances of leakage of unpublished price sensitive information do not recur in future,&quot; the Securities and Exchange Board of India (SEBI) said in an order.

SEBI has also directed the bank to submit a report on the present systems and controls and how they have been strengthened, who are the persons responsible for monitoring such systems and the periodicity of monitoring.

&quot;HDFC Bank shall conduct an internal inquiry into the leakage of unpublished price sensitive information relating to its financial figures including NPA (non-performing asset) results and take appropriate action against those responsible for the same, in accordance with law,&quot; SEBI said.

HDFC Bank has to complete the inquiry within three months and file a report to SEBI within seven days thereafter, the regulator said.&nbsp;

In the high-profile leakage case where sensitive financial details of various companies, including HDFC Bank, got leaked on WhatsApp before their formal announcement, SEBI virtually censured the top private sector lender and asked it to strengthen the systems and controls to check any such leak

SEBI on Friday asked HDFC Bank to identify individuals, including bank officials responsible for the leakage of its financial results, as the markets regulator has found inadequate controls at the lender as 'prima facie' reason for the leak. In the high-profile leakage case where sensitive financial details of various companies, including HDFC Bank, got leaked on WhatsApp before their formal announcement, SEBI virtually censured the top private sector lender and asked it to strengthen the systems and controls to check any such leak in future. "HDFC Bank shall strengthen its processes/ systems/ controls forthwith to ensure that such instances of leakage of unpublished price sensitive information do not recur in future," the Securities and Exchange Board of India (SEBI) said in an order. SEBI has also directed the bank to submit a report on the present systems and controls and how they have been strengthened, who are the persons responsible for monitoring such systems and the periodicity of monitoring. "HDFC Bank shall conduct an internal inquiry into the leakage of unpublished price sensitive information relating to its financial figures including NPA (non-performing asset) results and take appropriate action against those responsible for the same, in accordance with law," SEBI said. HDFC Bank has to complete the inquiry within three months and file a report to SEBI within seven days thereafter, the regulator said.

Whatsapp leak: SEBI asks HDFC Bank to probe matter

Many companies have now come up with chips that can be stuck to the body of your cell phone and help in reducing the radiation emitted by the device.

Protect yourself from cellphone radiation, here's how

India&#39;s first 5G network trial was successfully conducted today by Indian telecom giant Bharti Airtel and Chinese equipment maker Huawei. In the first-ever trial, over 3 gigabit per second data speed was achieved. The trial was conducted at Airtel&#39;s network experience centre in Manesar, Gurgaon.

&quot;This is small but a very significant step in our journey towards 5G. The promise of 5G is endless, it will be a game changer and, it will change the way we live, work and engage. We look forward to working closely with our partners for developing a robust 5G ecosystem in India,&quot; Abhay Savargaonkar, Director Networks, Bharti Airtel said.

&quot;This is the highest measured throughput for a mobile network in 3.5 GHz band with 100 MHz bandwidth and end-to-end network latency of approximately 1 milliseconds,&quot; the statement said.

The 5G technology will facilitate faster and smoother access of services like augmented reality, virtual reality, among others.

&quot;We have been focusing on developing 5G ecosystem and use cases, and the show with Bharti Airtel impressively demonstrates the performance capability of 5G in 3.5 GHz band. We shall also continue to work with vertical industry players to develop wider ecosystem use cases beyond enhanced mobile broadband.&quot; Emmanuel Coelho Alves, Director, Wireless Marketing, Huawei HQ noted.&nbsp;

The 5G technology will facilitate faster and smoother access to services like augmented reality, virtual reality, among others

India's first 5G network trial was successfully conducted today by Indian telecom giant Bharti Airtel and Chinese equipment maker Huawei. In the first-ever trial, over 3 gigabit per second data speed was achieved. The trial was conducted at Airtel's network experience centre in Manesar, Gurgaon. "This is small but a very significant step in our journey towards 5G. The promise of 5G is endless, it will be a game changer and, it will change the way we live, work and engage. We look forward to working closely with our partners for developing a robust 5G ecosystem in India," Abhay Savargaonkar, Director Networks, Bharti Airtel said. "This is the highest measured throughput for a mobile network in 3.5 GHz band with 100 MHz bandwidth and end-to-end network latency of approximately 1 milliseconds," the statement said. The 5G technology will facilitate faster and smoother access of services like augmented reality, virtual reality, among others. "We have been focusing on developing 5G ecosystem and use cases, and the show with Bharti Airtel impressively demonstrates the performance capability of 5G in 3.5 GHz band. We shall also continue to work with vertical industry players to develop wider ecosystem use cases beyond enhanced mobile broadband." Emmanuel Coelho Alves, Director, Wireless Marketing, Huawei HQ noted.

Airtel, Huawei conduct India's first 5G trial