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The slip today showed up for the market after a four-day winning spell when the Sensex ended with losses and the Nifty settled below the crucial 9,900 as investors jostled to take money off the table.

Concerns about foreign capital flying out remained.

On the macro front, services sector activity expanded for the first time in three months in September, but only slightly. The Nikkei India Services PMI stood at 50.7 in September, from 47.5 in August.

The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.

The index, which rose 174 points yesterday after the Reserve Bank decided to hold rates in line with expectations, had gained 512 points in the previous four sessions.

Reflecting the volatile trend, the NSE Nifty after shuttling between 9,945.95 and 9,881.855, closed down 26.20 points, or 0.26 per cent, at 9,888.70.

&quot;Market traded range bound with a negative bias due to lack of optimism to the upcoming earnings season. However, some positive development in auto sales numbers, core sector growth, and festival demand will add some light over the consolidation phase,&quot; said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

The outcome of tomorrow&#39;s GST Council meeting is also seen to decide the direction of the market in the short run.

Domestic institutional investors (DIIs) purchased shares net Rs 584.88 crore while foreign portfolio investors (FPIs) dumped equities worth of Rs 632.14 crore yesterday, showed provisional data.

In stock-specific movement, PowerGrid took the biggest knock plunging 1.99 per cent to Rs 204.85 while ICICI Bank lost 1.54 per cent to Rs 271.75. Bajaj Auto, Hero MotoCorp, HDFC Ltd and Sun Pharma also bogged down the key BSE index.

NTPC, Coal India, M&amp;M and RIL made headway, limiting the damage.

The BSE telecom index fell the most by 0.71 per cent. Others such as oil and gas, consumer durables and FMCG too suffered losses.

The broader markets gave a better account of themselves, the small-cap index was up 0.79 per cent and mid-cap 0.49 per cent.

Financial markets in China, Hong Kong and South Korea were shut today for public holidays. Japan&#39;s Nikkei ended flat.

European shares took a mixed line in the early session.

The Sensex ended with losses and the Nifty settled below the crucial 9,900-mark as investors jostled to take money off the table

The slip today showed up for the market after a four-day winning spell when the Sensex ended with losses and the Nifty settled below the crucial 9,900 as investors jostled to take money off the table. Concerns about foreign capital flying out remained. On the macro front, services sector activity expanded for the first time in three months in September, but only slightly. The Nikkei India Services PMI stood at 50.7 in September, from 47.5 in August. The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03. The index, which rose 174 points yesterday after the Reserve Bank decided to hold rates in line with expectations, had gained 512 points in the previous four sessions. Reflecting the volatile trend, the NSE Nifty after shuttling between 9,945.95 and 9,881.855, closed down 26.20 points, or 0.26 per cent, at 9,888.70. "Market traded range bound with a negative bias due to lack of optimism to the upcoming earnings season. However, some positive development in auto sales numbers, core sector growth, and festival demand will add some light over the consolidation phase," said Vinod Nair, Head of Research, Geojit Financial Services Ltd. The outcome of tomorrow's GST Council meeting is also seen to decide the direction of the market in the short run. Domestic institutional investors (DIIs) purchased shares net Rs 584.88 crore while foreign portfolio investors (FPIs) dumped equities worth of Rs 632.14 crore yesterday, showed provisional data. In stock-specific movement, PowerGrid took the biggest knock plunging 1.99 per cent to Rs 204.85 while ICICI Bank lost 1.54 per cent to Rs 271.75. Bajaj Auto, Hero MotoCorp, HDFC Ltd and Sun Pharma also bogged down the key BSE index. NTPC, Coal India, M&M and RIL made headway, limiting the damage. The BSE telecom index fell the most by 0.71 per cent. Others such as oil and gas, consumer durables and FMCG too suffered losses. The broader markets gave a better account of themselves, the small-cap index was up 0.79 per cent and mid-cap 0.49 per cent. Financial markets in China, Hong Kong and South Korea were shut today for public holidays. Japan's Nikkei ended flat. European shares took a mixed line in the early session.

Sensex takes first hit after 4-day winning spell

Asian shares were a tad firmer on Thursday, <a href="http://www.wionews.com/business-economy/tokyo-stocks-open-higher-as-worries-about-us-north-korea-tensions-ease-18797" target="_blank">taking their cues from strong US data although holiday-thinned trade</a> and uncertainty about the impact of recent hurricanes on the US economy are likely to keep investors cautious.

Japan&#39;s Nikkei was almost flat while Australian shares ticked up 0.2 per cent.

MSCI&#39;s broadest index of Asia-Pacific shares outside <a href="http://www.wionews.com/world/tokyo-stocks-open-higher-snap-vote-eyed-20592" target="_blank">Japan was almost flat with Hong Kong and South Korea</a>, as well as mainland China, closed for public holidays.

Wall Street&#39;s three major stock indexes hit fresh highs on Wednesday as did MSCI&#39;s all-country world stock index.

The Institute for Supply Management&#39;s index of non-manufacturing activity rose to 59.8 in September, it&#39;s the highest reading since August 2005, pointing to the resilience of the vast US services sector despite disruption from two powerful hurricanes.

The data came after a surge to a 13-year high in the survey of manufacturers as well as car sales at 12-year high, both released earlier this week.

&quot;Shares markets were supported as economic data was generally strong,&quot; said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.

But analysts also cautioned that the data reflected temporary demand stemming from repair and replacement spending in the aftermath of the hurricanes.

Data from private payrolls processor ADP showed monthly hiring slowed to an 11-month low of 135,000 [USADP=ECI], again due partly to disruptions from hurricanes, although this was better than economists&#39; median forecast.

Economists expect Friday&#39;s nonfarm payrolls report, one of the most closely watched pieces of economic data in financial markets, to show a similar slowdown.

They estimate a payroll increase in September of 90,000, substantially lower than the average over the past year of around 175,000, though some say investors may need to pay attention to state data due on October 20 to exclude the impact from hurricanes.

US bond yields were off their lows as bond prices fell, but yields were held below multi-month peaks hit earlier in the year. The 10-year US bond yield stood at 2.328 per cent, below Monday&#39;s 12-week high of 2.371 per cent.

&quot;Because US economic data for August to October is likely to be disrupted by hurricanes, markets may show a much smaller response to them,&quot; said Tomoaki Shishido, fixed income analyst at Nomura Securities.

&quot;In that regard, the market will be focusing more on policy issues, such as tax cuts and the choice of the next Fed chair,&quot; he added.

US President Donald Trump proposed a tax overhaul late last month though it remains to be seen whether the plan can get through Congress given the divisions among Republicans.

Trump has promised to decide this month on a new chief for the Federal Reserve to replace Janet Yellen, whose term expires in February.

High-rated bonds were affected by worries about Catalonia&#39;s independence vote from Spain.

The yield on Spanish bonds shot up to the highest level since March as prices fell, stretching the gap over German benchmarks to the widest in more than five months after Catalonia&#39;s secessionist leader said the region will declare independence in &quot;days.&quot;

Spain&#39;s IBEX stock index posted its worst single-day loss in 15 months with a 2.85 per cent decline on Wednesday.

Catalonia will move to declare independence from Spain on Monday while Spanish Prime Minister Mariano Rajoy&#39;s government said Catalonia must to &quot;return to the path of law&quot; before any negotiations could take place.

In currency markets, the euro steadied after weakness since late last month and last traded at $1.1761, off Tuesday&#39;s 1-1/2-month low of $1.16955.

The dollar stood at 112.77 yen, below last week&#39;s high of 113.26, on uncertainties over Japan&#39;s election on October 22.

Although Prime Minister Shinzo Abe&#39;s ruling coalition is likely to retain a majority, it could lose some seats, possibly weakening Abe&#39;s grip on power.

The Australian dollar dropped 0.4 per cent to 78.30 cents after unexpectedly weak local retail sales data.

Oil slipped after a surprising jump in US crude exports to a record 2 million barrels per day fanned worries about global oversupply.

Brent crude futures hit a two-week low of $55.38 per barrel on Wednesday and last stood at $55.92. US crude WTI futures also hit a two-week low of $49.76 per barrel and last traded at $49.98.

Elsewhere, Qatar&#39;s stock index sank to a five-year low on Wednesday, hurt by the effects of sanctions imposed by neighbouring states.

Asian shares were a tad firmer on Thursday, taking their cues from strong US data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the US economy are likely to keep investors cautious

Asian shares were a tad firmer on Thursday, taking their cues from strong US data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the US economy are likely to keep investors cautious. Japan's Nikkei was almost flat while Australian shares ticked up 0.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat with Hong Kong and South Korea, as well as mainland China, closed for public holidays. Wall Street's three major stock indexes hit fresh highs on Wednesday as did MSCI's all-country world stock index. The Institute for Supply Management's index of non-manufacturing activity rose to 59.8 in September, it's the highest reading since August 2005, pointing to the resilience of the vast US services sector despite disruption from two powerful hurricanes. The data came after a surge to a 13-year high in the survey of manufacturers as well as car sales at 12-year high, both released earlier this week. "Shares markets were supported as economic data was generally strong," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management. But analysts also cautioned that the data reflected temporary demand stemming from repair and replacement spending in the aftermath of the hurricanes. Data from private payrolls processor ADP showed monthly hiring slowed to an 11-month low of 135,000 [USADP=ECI], again due partly to disruptions from hurricanes, although this was better than economists' median forecast. Economists expect Friday's nonfarm payrolls report, one of the most closely watched pieces of economic data in financial markets, to show a similar slowdown. They estimate a payroll increase in September of 90,000, substantially lower than the average over the past year of around 175,000, though some say investors may need to pay attention to state data due on October 20 to exclude the impact from hurricanes. US bond yields were off their lows as bond prices fell, but yields were held below multi-month peaks hit earlier in the year. The 10-year US bond yield stood at 2.328 per cent, below Monday's 12-week high of 2.371 per cent. "Because US economic data for August to October is likely to be disrupted by hurricanes, markets may show a much smaller response to them," said Tomoaki Shishido, fixed income analyst at Nomura Securities. "In that regard, the market will be focusing more on policy issues, such as tax cuts and the choice of the next Fed chair," he added. US President Donald Trump proposed a tax overhaul late last month though it remains to be seen whether the plan can get through Congress given the divisions among Republicans. Trump has promised to decide this month on a new chief for the Federal Reserve to replace Janet Yellen, whose term expires in February. High-rated bonds were affected by worries about Catalonia's independence vote from Spain. The yield on Spanish bonds shot up to the highest level since March as prices fell, stretching the gap over German benchmarks to the widest in more than five months after Catalonia's secessionist leader said the region will declare independence in "days." Spain's IBEX stock index posted its worst single-day loss in 15 months with a 2.85 per cent decline on Wednesday. Catalonia will move to declare independence from Spain on Monday while Spanish Prime Minister Mariano Rajoy's government said Catalonia must to "return to the path of law" before any negotiations could take place. In currency markets, the euro steadied after weakness since late last month and last traded at $1.1761, off Tuesday's 1-1/2-month low of $1.16955. The dollar stood at 112.77 yen, below last week's high of 113.26, on uncertainties over Japan's election on October 22. Although Prime Minister Shinzo Abe's ruling coalition is likely to retain a majority, it could lose some seats, possibly weakening Abe's grip on power. The Australian dollar dropped 0.4 per cent to 78.30 cents after unexpectedly weak local retail sales data. Oil slipped after a surprising jump in US crude exports to a record 2 million barrels per day fanned worries about global oversupply. Brent crude futures hit a two-week low of $55.38 per barrel on Wednesday and last stood at $55.92. US crude WTI futures also hit a two-week low of $49.76 per barrel and last traded at $49.98. Elsewhere, Qatar's stock index sank to a five-year low on Wednesday, hurt by the effects of sanctions imposed by neighbouring states.

Asian shares edge up slightly after strong US data

Banga told WION that one or two quarters of slow economic growth should not impact the pace of reforms.?

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Bowing to public pressure, <a href="http://www.wionews.com/business-economy/government-cuts-excise-duty-on-petrol-and-diesel-by-two-rupees-20969">the government today cut excise duty on petrol and diesel </a>by Rs 2 per litre each to moderate the relentless rise in fuel prices witnessed for the last three months.

Facts on excise duty&nbsp;in the last 3 years:

<ul>
	<li>The government has raised <a href="http://www.wionews.com/india-news/venkaiah-naidu-wades-into-debate-on-economy-says-no-gain-without-pain-20841">excise duty on petrol and diesel on nine occasions&nbsp;between</a> November 2014 and January 2016 to take away gains arising from plummeting global oil prices, has been criticised for not cutting excise duty despite a sustained rise in fuel prices since early July.</li>
</ul>

&nbsp;

<ul>
	<li>In all, duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government&#39;s excise mop-up more than double to Rs 242,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.</li>
</ul>

&nbsp;

<ul>
	<li>Retail fuel prices have been on the upswing since July 4. Oil Minister Dharmendra Pradhan&#39;s predictions of a drop were short-lived as rates fell for just three days and reverted to their upward trajectory.</li>
</ul>

&nbsp;

<ul>
	<li>While petrol prices have increased by Rs 7.8 to reach Rs 70.88 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 5.7 to touch an all-time high of Rs 59.14.</li>
</ul>

&nbsp;

<ul>
	<li>While the costliest petrol was sold in September 2013 when it was priced at Rs 76.06 a litre in Delhi, the previous highest rate for diesel was also during the BJP rule in September 2014 when it was priced at Rs 58.97 per litre.</li>
</ul>

&nbsp;

<ul>
	<li>Previously, the rates were changed every fortnight but since June 16 they are revised daily to immediately pass on any movement in international oil prices to consumers and avoid sharp spikes by spreading them in small doses.&nbsp;The windfall from the excise duty hikes helped the government bridge its budgetary deficit.</li>
</ul>

&nbsp;

<ul>
	<li>Normal or unbranded petrol currently commands a basic excise duty of Rs 8.48 per litre, special additional excise duty of Rs 7 a litre and additional excise duty of Rs 6. The total excise incidence on branded petrol is Rs 22.66 per litre with basic excise duty is charged at higher rate of Rs 9.66.</li>
</ul>

&nbsp;

<ul>
	<li>Unbranded diesel attracts basic excise duty of Rs 10.33 per litre, special additional excise duty of Re 1 and additional excise duty of Rs 6 per litre. Branded diesel attracts Rs 12.69 per litre basic excise duty, Re 1 a lire additional excise duty and Rs 6 special additional excise duty.</li>
</ul>

&nbsp;

<ul>
	<li>State-owned oil companies in June dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. Rates during the first fortnight starting June 16 dropped but have been on the rise since July 4. 
	&nbsp;</li>
</ul>

In all, duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months

Bowing to public pressure, the government today cut excise duty on petrol and diesel by Rs 2 per litre each to moderate the relentless rise in fuel prices witnessed for the last three months. Facts on excise duty in the last 3 years: The government has raised excise duty on petrol and diesel on nine occasions between November 2014 and January 2016 to take away gains arising from plummeting global oil prices, has been criticised for not cutting excise duty despite a sustained rise in fuel prices since early July. In all, duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop-up more than double to Rs 242,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. Retail fuel prices have been on the upswing since July 4. Oil Minister Dharmendra Pradhan's predictions of a drop were short-lived as rates fell for just three days and reverted to their upward trajectory. While petrol prices have increased by Rs 7.8 to reach Rs 70.88 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 5.7 to touch an all-time high of Rs 59.14. While the costliest petrol was sold in September 2013 when it was priced at Rs 76.06 a litre in Delhi, the previous highest rate for diesel was also during the BJP rule in September 2014 when it was priced at Rs 58.97 per litre. Previously, the rates were changed every fortnight but since June 16 they are revised daily to immediately pass on any movement in international oil prices to consumers and avoid sharp spikes by spreading them in small doses. The windfall from the excise duty hikes helped the government bridge its budgetary deficit. Normal or unbranded petrol currently commands a basic excise duty of Rs 8.48 per litre, special additional excise duty of Rs 7 a litre and additional excise duty of Rs 6. The total excise incidence on branded petrol is Rs 22.66 per litre with basic excise duty is charged at higher rate of Rs 9.66. Unbranded diesel attracts basic excise duty of Rs 10.33 per litre, special additional excise duty of Re 1 and additional excise duty of Rs 6 per litre. Branded diesel attracts Rs 12.69 per litre basic excise duty, Re 1 a lire additional excise duty and Rs 6 special additional excise duty. State-owned oil companies in June dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. Rates during the first fortnight starting June 16 dropped but have been on the rise since July 4.

Modi government's excise duty formula on petrol, diesel

The RBI announced Wednesday that it was keeping the repo rate unchanged at 5.75%.&nbsp;

It said that it was also keeping the reverse repo rate unchanged at 6.25%.&nbsp;

And it added that India would grow at 6.7% in 2017-18.

There would it said be an acceleration in growth in the second half, to 7.1% in the third quarter and to 7.7% in the fourth quarter.&nbsp;

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Projection of growth of 6.7 % for 2017-18 as a whole is consistent with an acceleration in second half to 7.1% in Q3 &amp; 7.7% in Q4: RBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915588740050952192?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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&nbsp;

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RBI decides to keep repo rate unchanged,reverse repo rate remains at 5.75% and bank rate at 6.25%
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915502077178109952?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> Reserve Bank of India Governor Urjit Patel briefs the media on monetary policy <a href="https://t.co/xNflo6LD3d">https://t.co/xNflo6LD3d</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915505843503734784?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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The central bank added that inflation is expected to rise from its current levels to between 4.2 to 4.6% in the second half of 2017.&nbsp;

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<blockquote class="twitter-tweet" data-lang="en">
Inflation is expected to rise from its current level&amp; range b/w 4.2-4.6 % in 2nd half of 2017, including house rent allowance by Centre: RBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915504055736082433?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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The bank added that it had revised the country&#39;s real Gross Value Added growth projection downwards to 6.7% from 7.3%.&nbsp;

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The projection of real Gross Value Added (GVA) growth for 2017-18 has been revised down to 6.7 % from August 2017 projection of 7.3 %: RBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915505640612622336?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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RBI governor Urjit Patel said the RBI expressed concern about the &quot;weakening of the manufacturing sector in the first half of the year.&quot;

He added that measures need to be undertaken to encourage growth.&nbsp;&nbsp;

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Measures need to be undertaken to support growth&amp;achieve faster closure of output gap incl. restarting stalled investment projects: RBI(1/2) <a href="https://t.co/xxAUcHib53">pic.twitter.com/xxAUcHib53</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915510137107836928?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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Enhancing ease of doing business,including by further simplification of GST; &amp;ensuring faster rollout of affordable housing program-RBI(2/2)
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/915510941734674432?ref_src=twsrc%5Etfw">October 4, 2017</a></blockquote>
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And that &quot;factors that have affected growth in the second quarter, some of them will dissipate.&quot;&nbsp;

Leaving the repo rate and the reverse repo rate unchanged means there will be no change in people&#39;s EMIs.&nbsp;

Commentators said the Reserve Bank of India is at the moment in wait-and-watch mode.&nbsp;

We have just entered the festive season, which is also peak demand season.&nbsp;

This is when people plan large new buys, and also when sellers offer their largest discounts.&nbsp;

The commentators said the RBI would decide in December -- depending on what the figures then say about demand now -- on a change in rates.&nbsp;

Should demand stay low, there might be a downward revision in rates and vice versa.&nbsp;

The central bank said there would be an acceleration in growth in the second half to 7.1% in the third quarter and to 7.7% in the fourth quarter

The RBI announced Wednesday that it was keeping the repo rate unchanged at 5.75%. It said that it was also keeping the reverse repo rate unchanged at 6.25%. And it added that India would grow at 6.7% in 2017-18. There would it said be an acceleration in growth in the second half, to 7.1% in the third quarter and to 7.7% in the fourth quarter. Projection of growth of 6.7 % for 2017-18 as a whole is consistent with an acceleration in second half to 7.1% in Q3 & 7.7% in Q4: RBI — ANI (@ANI) October 4, 2017 × RBI decides to keep repo rate unchanged,reverse repo rate remains at 5.75% and bank rate at 6.25% — ANI (@ANI) October 4, 2017 × #WATCH Reserve Bank of India Governor Urjit Patel briefs the media on monetary policy https://t.co/xNflo6LD3d — ANI (@ANI) October 4, 2017 × The central bank added that inflation is expected to rise from its current levels to between 4.2 to 4.6% in the second half of 2017. Inflation is expected to rise from its current level& range b/w 4.2-4.6 % in 2nd half of 2017, including house rent allowance by Centre: RBI — ANI (@ANI) October 4, 2017 × The bank added that it had revised the country's real Gross Value Added growth projection downwards to 6.7% from 7.3%. The projection of real Gross Value Added (GVA) growth for 2017-18 has been revised down to 6.7 % from August 2017 projection of 7.3 %: RBI — ANI (@ANI) October 4, 2017 × RBI governor Urjit Patel said the RBI expressed concern about the "weakening of the manufacturing sector in the first half of the year." He added that measures need to be undertaken to encourage growth. Measures need to be undertaken to support growth&achieve faster closure of output gap incl. restarting stalled investment projects: RBI(1/2) pic.twitter.com/xxAUcHib53 — ANI (@ANI) October 4, 2017 × Enhancing ease of doing business,including by further simplification of GST; &ensuring faster rollout of affordable housing program-RBI(2/2) — ANI (@ANI) October 4, 2017 × And that "factors that have affected growth in the second quarter, some of them will dissipate." Leaving the repo rate and the reverse repo rate unchanged means there will be no change in people's EMIs. Commentators said the Reserve Bank of India is at the moment in wait-and-watch mode. We have just entered the festive season, which is also peak demand season. This is when people plan large new buys, and also when sellers offer their largest discounts. The commentators said the RBI would decide in December -- depending on what the figures then say about demand now -- on a change in rates. Should demand stay low, there might be a downward revision in rates and vice versa.

RBI says India will grow at 6.7% in 2017-18

The Czech car maker&nbsp;Skoda has launched its Kodiaq SUV in India.

Because the Kodiaq is the company&#39;s first seven-seater in India, Skoda is offering only one fully-loaded variant in India.&nbsp;

Bookings are now open, and the first deliveries are expected in the first week of November.&nbsp;

Skoda says the&nbsp;Kodiaq comes with a number of &quot;simply clever&quot; features, which&nbsp;include:&nbsp;

Umbrella pockets in the front doors.

A removable LED lamp in the luggage compartment. The lamp is fitted with a magnet, so it can be used for illumination as well as to replace a tyre.

Touch-free tailgate opening -- the rear door opens with a &quot;virtual pedal&quot;.

The Kodiaq also comes with a &quot;sleep package&quot; -- which means a set of blankets, and what the company says are &quot;special headrests&quot;&nbsp;to provide maximum comfort.

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Skoda is offering only one fully-loaded variant of the Kodiaq. (Image source: Skoda.com) (Others)
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The Kodiaq is Skoda&#39;s first seven-seater in India. (Image source: Skoda.com) (Others)
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The Kodiaq comes with a sunroof and what the company calls a host of &#39;simply clever&#39; features. (Image source: Skoda.com) (Others)
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The SUV will come in four colours -- Lava Blue, Quartz Grey, Magic Black,&nbsp;and Moon White.&nbsp;

The Kodiaq, which is priced at Rs 34.50 lakh, will compete with the Toyota Fortuner, the Ford Endeavour, the&nbsp;Mitsubishi Pajero Sport, and the Volkswagen Tiguan.

And it will cost Rs 34.50 lakh (ex-showroom).

Bookings are open, the first deliveries are expected in the first week of November

The Czech car maker Skoda has launched its Kodiaq SUV in India. Because the Kodiaq is the company's first seven-seater in India, Skoda is offering only one fully-loaded variant in India. Bookings are now open, and the first deliveries are expected in the first week of November. Skoda says the Kodiaq comes with a number of "simply clever" features, which include: Umbrella pockets in the front doors. A removable LED lamp in the luggage compartment. The lamp is fitted with a magnet, so it can be used for illumination as well as to replace a tyre. Touch-free tailgate opening -- the rear door opens with a "virtual pedal". The Kodiaq also comes with a "sleep package" -- which means a set of blankets, and what the company says are "special headrests" to provide maximum comfort. Skoda is offering only one fully-loaded variant of the Kodiaq. (Image source: Skoda.com) (Others) × The Kodiaq is Skoda's first seven-seater in India. (Image source: Skoda.com) (Others) × The Kodiaq comes with a sunroof and what the company calls a host of 'simply clever' features. (Image source: Skoda.com) (Others) × The SUV will come in four colours -- Lava Blue, Quartz Grey, Magic Black, and Moon White. The Kodiaq, which is priced at Rs 34.50 lakh, will compete with the Toyota Fortuner, the Ford Endeavour, the Mitsubishi Pajero Sport, and the Volkswagen Tiguan. And it will cost Rs 34.50 lakh (ex-showroom).

Skoda launches Kodiaq SUV at Rs 34.50 lakh

The government on Tuesday cut excise duty on&nbsp;petrol&nbsp;and&nbsp;diesel&nbsp;by two rupees a litre to protect retail consumers from higher global crude oil prices.

The cut in the&nbsp;petrol&nbsp;and&nbsp;diesel&nbsp;duties will cost $1.99 billion&nbsp;over the next six months, the finance ministry said in a message on Twitter.

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Govt of India has reduced Basic Excise Duty rate on Petrol &amp; Diesel [both branded and unbranded] by Rs. 2 per litre w.e.f. 4th October,2017
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915210543073337344?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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This has been done to cushion the impact of rising international prices of crude petroleum oil &amp; petrol &amp; diesel on their Retail Sale Prices
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915211567708307461?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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Revenue loss on a/c of these reductions in excise duty is about Rs.26,000 crore in full year&amp; Rs13,000 crore in remaining part of Current FY
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915212894001807360?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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This decision has also been taken by the Government of India in order to protect the interest of common man.
&mdash; Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/915213013090578432?ref_src=twsrc%5Etfw">October 3, 2017</a></blockquote>
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Since August 1, retail prices for&nbsp;petrol&nbsp;have gone up 8.4 per cent and&nbsp;diesel&nbsp;by 6.4 per cent in New Delhi.

&quot;The cut in excise duty has modestly increased the likelihood of fiscal slippage this year,&quot; Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody&#39;s told Reuters.

Petrol Price

&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Earlier | Now

Delhi -&nbsp; &nbsp;70.81&nbsp; |&nbsp; 68.81

Mumbai - 79.92 |&nbsp; 77.92

Kolkata - 73.55&nbsp; | 71.55

Chennai - 73.41 | 71.41

Bengaluru - 71.95 | 69.95

*All price in Rs/Ltr

Diesel &nbsp;Price

&nbsp; &nbsp; &nbsp;&nbsp;Earlier | Now

Delhi - 59.08 | 57.08

Mumbai - 62.76 | 60.76

Kolkata - 61.74 | 59.74

Chennai - 62.23 | 60.23

Bengaluru - 59.22 | 57.22

The government on Tuesday cut excise duty on?petrol?and?diesel?by two rupees a litre to protect retail consumers from higher global crude oil prices

The government on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices. The cut in the petrol and diesel duties will cost $1.99 billion over the next six months, the finance ministry said in a message on Twitter. Govt of India has reduced Basic Excise Duty rate on Petrol & Diesel [both branded and unbranded] by Rs. 2 per litre w.e.f. 4th October,2017 — Ministry of Finance (@FinMinIndia) October 3, 2017 × This has been done to cushion the impact of rising international prices of crude petroleum oil & petrol & diesel on their Retail Sale Prices — Ministry of Finance (@FinMinIndia) October 3, 2017 × Revenue loss on a/c of these reductions in excise duty is about Rs.26,000 crore in full year& Rs13,000 crore in remaining part of Current FY — Ministry of Finance (@FinMinIndia) October 3, 2017 × This decision has also been taken by the Government of India in order to protect the interest of common man. — Ministry of Finance (@FinMinIndia) October 3, 2017 × Since August 1, retail prices for petrol have gone up 8.4 per cent and diesel by 6.4 per cent in New Delhi. "The cut in excise duty has modestly increased the likelihood of fiscal slippage this year," Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody's told Reuters. Petrol Price Earlier | Now Delhi - 70.81 | 68.81 Mumbai - 79.92 | 77.92 Kolkata - 73.55 | 71.55 Chennai - 73.41 | 71.41 Bengaluru - 71.95 | 69.95 *All price in Rs/Ltr Diesel Price Earlier | Now Delhi - 59.08 | 57.08 Mumbai - 62.76 | 60.76 Kolkata - 61.74 | 59.74 Chennai - 62.23 | 60.23 Bengaluru - 59.22 | 57.22

Government cuts excise duty on petrol, diesel by Rs 2

German luxury carmaker Mercedes-Benz has launched Edition C sedan, expanding its C-Class portfolio with the launch.&nbsp;

The price of the new launch starts at Rs 42.54 lakh (ex-showroom).

The C 200 Avantgarde Edition C will be available at Rs 42.54 lakh, C 220 d Avantgarde at Rs 43.54 lakh and C 250 d Avantgarde Edition C at Rs 46.87 lakh.&nbsp;

The new model provides an enhanced version of the existing C-Class.

It comes with an upgraded version of interior and exterior.

C-Sedan provides a new paint option, the design Hyacinth red, to the C-Class in India.&nbsp;

The Director and CEO of Mercedes-Benz India, Roland Folger has said that the C-Class had a spectacular market in India and the company sold over 27,500 units of the car since its launch, The Economic Times reported.

The car will be available across all Mercedes-Benz dealerships in the country.&nbsp;

Also read: <a href="http://www.wionews.com/business-economy/hike-in-cess-will-hurt-growth-of-luxury-car-segment-mercedes-benz-ceo-18672" target="_blank">Hike in cess will hurt growth of luxury car segment: Mercedes-Benz CEO</a>

Also read: <a href="http://www.wionews.com/photos/top-cars-toyota-skoda-ford-race-to-capture-india-422" target="_blank">Top cars: Toyota, Skoda, Ford race to capture India</a>

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C-Sedan provides a new paint option, the design Hyacinth red, to the C-Class in India

German luxury carmaker Mercedes-Benz has launched Edition C sedan, expanding its C-Class portfolio with the launch. The price of the new launch starts at Rs 42.54 lakh (ex-showroom). The C 200 Avantgarde Edition C will be available at Rs 42.54 lakh, C 220 d Avantgarde at Rs 43.54 lakh and C 250 d Avantgarde Edition C at Rs 46.87 lakh. The new model provides an enhanced version of the existing C-Class. It comes with an upgraded version of interior and exterior. C-Sedan provides a new paint option, the design Hyacinth red, to the C-Class in India. The Director and CEO of Mercedes-Benz India, Roland Folger has said that the C-Class had a spectacular market in India and the company sold over 27,500 units of the car since its launch, The Economic Times reported. The car will be available across all Mercedes-Benz dealerships in the country. Also read: Hike in cess will hurt growth of luxury car segment: Mercedes-Benz CEO Also read: Top cars: Toyota, Skoda, Ford race to capture India

Mercedes-Benz launches Edition C sedan in India at Rs 42.54 lakh

Flipkart will repurchase employee stock&nbsp;options (ESOP) worth US$ 100 million.&nbsp;&nbsp;

Flipkart employees will be allowed to sell a certain percentage of their shares.&nbsp;

The Economic Times reported that the buy-back is one of the largest-such programmes to date in the Indian startup scene.&nbsp;

The Economic Times reported sources familiar with the matter as saying the move would benefit close to 6,000 current and former Flipkart employees, and that some people would walk away with &quot;tens of crores&quot;.&nbsp;&nbsp;

The repurchase programme is expected to close by December 2017.&nbsp;

Giving out employee stock options is a way of retaining high-level employees.

Also read: <a href="http://www.wionews.com/science-tech/flipkart-finalised-a-new-offer-for-snapdeal-18044" target="_blank">Flipkart offers between $900-950 million to buy Snapdeal</a>

Also read:<a href="http://www.wionews.com/science-tech/flipkart-raises-14-billion-from-ebay-microsoft-tencent-acquires-ebay-india-14385" target="_blank"> Flipkart raises $1.4 billion from eBay, Microsoft, Tencent; acquires eBay India</a>

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Employees will be allowed to sell a certain percentage of their shares

Flipkart will repurchase employee stock options (ESOP) worth US$ 100 million. Flipkart employees will be allowed to sell a certain percentage of their shares. The Economic Times reported that the buy-back is one of the largest-such programmes to date in the Indian startup scene. The Economic Times reported sources familiar with the matter as saying the move would benefit close to 6,000 current and former Flipkart employees, and that some people would walk away with "tens of crores". The repurchase programme is expected to close by December 2017. Giving out employee stock options is a way of retaining high-level employees. Also read: Flipkart offers between $900-950 million to buy Snapdeal Also read: Flipkart raises $1.4 billion from eBay, Microsoft, Tencent; acquires eBay India

Flipkart to buy back ESOPs worth $100 million

<a href="http://www.wionews.com/science-tech/google-to-stop-scanning-gmail-for-creating-targeted-ads-17270" target="_blank">Google</a> announced on Sunday that subscription news websites would no longer have to provide users three free articles per day or faceless prominence in search results, relaxing its rules following complaints from media giants like News Corp that their sales were suffering.

For the last decade, Google&#39;s &quot;first click free&quot; policy helped ensure that non-subscribers wouldn&#39;t be stifled by paywalls when they clicked on news articles from searches.

<a href="http://www.wionews.com/science-tech/google-opens-up-digital-assistant-to-iphone-15700" target="_blank">Google, the largest component of Alphabet Inc</a>, had contended that free samples would lead to increased subscriptions.

But apart from a few publications, online subscriptions haven&#39;t taken off as intended, and media companies such as Wall Street Journal parent News Corp. increasingly complained that freeloading users were cutting into sales.

This year, the Wall Street Journal stopped abiding by Google&#39;s policy, corresponding to a drop in search rankings but an increase in subscriptions.

&quot;Over the last year, we got clear indications that, yes, it was going to be important for publishers to grow subscription revenues,&quot; said Richard Gingras, Google&#39;s vice president for news.

He said the number of news outlets with paywalls had reached a critical mass in the last year, to the point that it made sense for Google to start developing tools for them.

Google is now counting on the relaxed rules and subscription software that is under development to stop the Wall Street Journal and other publishers from holding back valuable content.

From here on, publishers will be able to choose how many, if any, free articles they want to offer to Google searchers.

Google also plans to launch free software in the coming months for publishers that enable users to pay for content with credit card information that they&#39;ve previously supplied to the search giant.

The goal is to facilitate fast purchases that could take as little as a single click, Gingras said. Customers&#39; names and emails would be shared with the publishers.

A separate tool would give publishers data on how to maximize signups with personalized offers. Gingras said Google hasn&#39;t determined whether it may charge a fee to recoup costs of that program.

&quot;Google search is valuable because there&#39;s a rich ecosystem out there,&quot; Gingras said. &quot;To the extent the web is healthy, that&#39;s very good for our core business. Our objective is not for this to be a new line of business.&quot;

Facebook, Alphabet&#39;s top rival in online advertising, is working on similar subscriber registration tools. Apple released support for subscriptions within its News app last year.

For the last decade, Google's 'first click free' policy helped ensure that non-subscribers wouldn't be stifled by paywalls when they clicked on news articles from searches

Google announced on Sunday that subscription news websites would no longer have to provide users three free articles per day or faceless prominence in search results, relaxing its rules following complaints from media giants like News Corp that their sales were suffering. For the last decade, Google's "first click free" policy helped ensure that non-subscribers wouldn't be stifled by paywalls when they clicked on news articles from searches. Google, the largest component of Alphabet Inc, had contended that free samples would lead to increased subscriptions. But apart from a few publications, online subscriptions haven't taken off as intended, and media companies such as Wall Street Journal parent News Corp. increasingly complained that freeloading users were cutting into sales. This year, the Wall Street Journal stopped abiding by Google's policy, corresponding to a drop in search rankings but an increase in subscriptions. "Over the last year, we got clear indications that, yes, it was going to be important for publishers to grow subscription revenues," said Richard Gingras, Google's vice president for news. He said the number of news outlets with paywalls had reached a critical mass in the last year, to the point that it made sense for Google to start developing tools for them. Google is now counting on the relaxed rules and subscription software that is under development to stop the Wall Street Journal and other publishers from holding back valuable content. From here on, publishers will be able to choose how many, if any, free articles they want to offer to Google searchers. Google also plans to launch free software in the coming months for publishers that enable users to pay for content with credit card information that they've previously supplied to the search giant. The goal is to facilitate fast purchases that could take as little as a single click, Gingras said. Customers' names and emails would be shared with the publishers. A separate tool would give publishers data on how to maximize signups with personalized offers. Gingras said Google hasn't determined whether it may charge a fee to recoup costs of that program. "Google search is valuable because there's a rich ecosystem out there," Gingras said. "To the extent the web is healthy, that's very good for our core business. Our objective is not for this to be a new line of business." Facebook, Alphabet's top rival in online advertising, is working on similar subscriber registration tools. Apple released support for subscriptions within its News app last year.

Google relaxes rules on free news stories, plans subscription tools

Reliance Communications, which is reeling under a debt of about Rs 46,000 crore, Sunday called off merger talks with Aircel, citing &quot;legal and regulatory&quot; delays and outlined an alternative plan for debt reduction by selling real estate as well as tower and fibre business. 
 
&quot;Merger of mobile business of RCom and Aircel lapses with mutual consent,&quot; the Anil Ambani-led firm said in a statement. 
 
RCom and Aircel had signed binding agreements in September 2016 for the merger of mobile business. 
 
&quot;Legal and regulatory uncertainties, and various interventions by vested interests, have caused inordinate delays in receipt of relevant approvals for the proposed transaction,&quot; it said. 
 
RCom also blamed high level of competition as one of the reasons for termination of the merger talks. 
 
&quot;Unprecedented competitive intensity in the Indian telecom sector together with fresh policy directives, adversely impacting bank financing for this sector, have also seriously affected industry dynamics. 
&nbsp; 
As a result of the various factors aforesaid, the merger agreement has lapsed,&quot; RCom said. 
 
The company said that unlimited free voice offers and &quot;irrational pricing&quot; by all industry participants have destroyed profitability of traditional 2G and 3G mobile business. 
 
It was claimed that with the deal the debt of RCom will come down to around Rs 20,000 crore, while that of Aircel to around Rs 4,000 crore. 
 
RCom now plans to monetise prime real estate in Mumbai and Delhi as well as telecom tower and optic fibre assets by December to avoid lenders converting a part of their debt into equity. 
 
The company, however, also said that the combination of the mobile business of Sistema Shyam Teleservices Ltd (SSTL) into RCom will be completed this month. 
 
This merger would bring to the company SSTL&#39;s valuable spectrum holdings in the 800-850 MHz band, strengthening RCom&#39;s spectrum portfolio by 30 Mhz as well as extend its spectrum validity period in 8 important circles by another 16 years to 2033. 
 
RCom said that its Board of Directors at a meeting held today in Mumbai reviewed the ongoing strategic transformation programme and considered alternative plans for debt reduction. 
 
The board decided that RCom will evaluate an alternative plan for its mobile business, through optimisation of its spectrum portfolio and adoption of a 4G focused mobile strategy. 
 
&quot;RCom already has the unique advantage of capital light access to India&#39;s most extensive world-class nationwide 4G mobile network through spectrum sharing and ICR (intra-circle roaming) Agreements with Reliance Jio,&quot; it said. 
 
It has spectrum across 800, 900,1800 and 2100 Mhz spectrum bands aggregating 200 Mhz, valued at over Rs 19,000 crore for the balance of validity period, based on last auction pricing. 
 
&quot;The company will evaluate opportunities for monetisation of the same through trading and sharing arrangements,&quot; the statement said. 
 
RCom had defaulted on some of its debt obligation and has been given additional time to service its debt by lenders. 
 
&quot;The company continues to be under a standstill period till December 2018 and expects to complete the SDR process as per applicable guidelines,&quot; it said. 
 
Shareholders of the company at the annual general meeting held on September 26, 2017 have already approved issuance of equity shares to lenders by conversion of loans. 
 
RCom said that it will focus on domestic and overseas B2B business. 
 
&quot;These B2B businesses generate equal revenues from domestic and overseas operations. As part of the ongoing transformation and in order to enhance value for all stakeholders, the RCom board reaffirmed the focus on these stable, capital light B2B businesses which have sustained and predictable revenues and profits, with immense growth potential,&quot; the company said. 
 
It also claimed that the firm has made progress on steps to monetise real estate which includes nearly 125 acres of land at Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai with development rights of potentially over 17 million square feet and another around central Delhi measuring nearly 4 acres. 
 
&quot;Indications of interest from leading developers, and independent third party valuations, have established significantly higher present value monetisation potential of Rs 10,000 crore for the DAKC Complex alone,&quot; RCom said. 
 
The company also expects to realise Rs 11,000 crore from sale of its tower business. 
&nbsp;

RCom and Aircel had signed binding agreements in September 2016 for the merger of mobile business

Reliance Communications, which is reeling under a debt of about Rs 46,000 crore, Sunday called off merger talks with Aircel, citing "legal and regulatory" delays and outlined an alternative plan for debt reduction by selling real estate as well as tower and fibre business. "Merger of mobile business of RCom and Aircel lapses with mutual consent," the Anil Ambani-led firm said in a statement. RCom and Aircel had signed binding agreements in September 2016 for the merger of mobile business. "Legal and regulatory uncertainties, and various interventions by vested interests, have caused inordinate delays in receipt of relevant approvals for the proposed transaction," it said. RCom also blamed high level of competition as one of the reasons for termination of the merger talks. "Unprecedented competitive intensity in the Indian telecom sector together with fresh policy directives, adversely impacting bank financing for this sector, have also seriously affected industry dynamics. As a result of the various factors aforesaid, the merger agreement has lapsed," RCom said. The company said that unlimited free voice offers and "irrational pricing" by all industry participants have destroyed profitability of traditional 2G and 3G mobile business. It was claimed that with the deal the debt of RCom will come down to around Rs 20,000 crore, while that of Aircel to around Rs 4,000 crore. RCom now plans to monetise prime real estate in Mumbai and Delhi as well as telecom tower and optic fibre assets by December to avoid lenders converting a part of their debt into equity. The company, however, also said that the combination of the mobile business of Sistema Shyam Teleservices Ltd (SSTL) into RCom will be completed this month. This merger would bring to the company SSTL's valuable spectrum holdings in the 800-850 MHz band, strengthening RCom's spectrum portfolio by 30 Mhz as well as extend its spectrum validity period in 8 important circles by another 16 years to 2033. RCom said that its Board of Directors at a meeting held today in Mumbai reviewed the ongoing strategic transformation programme and considered alternative plans for debt reduction. The board decided that RCom will evaluate an alternative plan for its mobile business, through optimisation of its spectrum portfolio and adoption of a 4G focused mobile strategy. "RCom already has the unique advantage of capital light access to India's most extensive world-class nationwide 4G mobile network through spectrum sharing and ICR (intra-circle roaming) Agreements with Reliance Jio," it said. It has spectrum across 800, 900,1800 and 2100 Mhz spectrum bands aggregating 200 Mhz, valued at over Rs 19,000 crore for the balance of validity period, based on last auction pricing. "The company will evaluate opportunities for monetisation of the same through trading and sharing arrangements," the statement said. RCom had defaulted on some of its debt obligation and has been given additional time to service its debt by lenders. "The company continues to be under a standstill period till December 2018 and expects to complete the SDR process as per applicable guidelines," it said. Shareholders of the company at the annual general meeting held on September 26, 2017 have already approved issuance of equity shares to lenders by conversion of loans. RCom said that it will focus on domestic and overseas B2B business. "These B2B businesses generate equal revenues from domestic and overseas operations. As part of the ongoing transformation and in order to enhance value for all stakeholders, the RCom board reaffirmed the focus on these stable, capital light B2B businesses which have sustained and predictable revenues and profits, with immense growth potential," the company said. It also claimed that the firm has made progress on steps to monetise real estate which includes nearly 125 acres of land at Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai with development rights of potentially over 17 million square feet and another around central Delhi measuring nearly 4 acres. "Indications of interest from leading developers, and independent third party valuations, have established significantly higher present value monetisation potential of Rs 10,000 crore for the DAKC Complex alone," RCom said. The company also expects to realise Rs 11,000 crore from sale of its tower business.

RCom calls off merger with Aircel due to 'regulatory' hurdles

The protests have intensified a day ahead of planned independence referendum in Catalonia. But, what happened which revived this question of independence which has been burning for 1000 years. Watch to know more.

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China has been transforming investment-driven economy to consumption-driven one with considerable increase in domestic trade. Watch to know more.

China transforming from investment-driven to consumption-driven nation

Toyota Motors will be taking 5% stake in smaller rival Mazda to develop electric vehicle technology. The shares of Mazda went up by 3% after announcement. Watch to know more.

Toyota Motors to venture into developing electric vehicle technology

The BSE Sensex tanked 440 points to end at an over three-month low of 31,159.81 due to across the board selling by investors ahead of the expiry of September derivatives and weakness in the Rupee amid mixed global cues.

Extending its falling streak for the seventh straight session,&nbsp;the longest losing streak since&nbsp;December 22, the 30-share index fell by 439.95 points, or 1.39 per cent, to settle at 31,159.81 as RIL, HDFC, HDFC Bank, ITC, SBI and L&amp;T dropped.

This is the weakest closing since&nbsp;June 30&nbsp;when it had settled at 30,921.61.

The broader NSE Nifty cracked below the key 9,800-mark. It had regained the key 9,900-mark at the outset, but failed to hold on to the crucial level and dipped below the 9800-mark to hit a low of 9,714.40.

It finally settled down 135.75 points, or 1.38 per cent, at 9,735.75, it lowest closing since&nbsp;August 11&nbsp;when it closed at 9,710.80.

The September futures and options contracts are set to expire&nbsp;tomorrow, which made participants wait and watch.

Sentiments suffered another setback amid expectations of a rate hike by the US Federal Reserve later this year, accelerating the pace of outflows by foreign investors, offsetting unabated buying by DIIs, brokers said.

Escalating North Korean worries too continued to dampen trading sentiments.

In addition, the rupee quoting at over six-month low of 65.75 against the dollar in day trade too dented the sentiment further.

Sensex tumbles 440 pts ahead of F&O expiry, falls for 7th day, longest losing streak

The BSE Sensex tanked 440 points to end at an over three-month low of 31,159.81 due to across the board selling by investors ahead of the expiry of September derivatives and weakness in the Rupee amid mixed global cues. Extending its falling streak for the seventh straight session, the longest losing streak since December 22, the 30-share index fell by 439.95 points, or 1.39 per cent, to settle at 31,159.81 as RIL, HDFC, HDFC Bank, ITC, SBI and L&T dropped. This is the weakest closing since June 30 when it had settled at 30,921.61. The broader NSE Nifty cracked below the key 9,800-mark. It had regained the key 9,900-mark at the outset, but failed to hold on to the crucial level and dipped below the 9800-mark to hit a low of 9,714.40. It finally settled down 135.75 points, or 1.38 per cent, at 9,735.75, it lowest closing since August 11 when it closed at 9,710.80. The September futures and options contracts are set to expire tomorrow, which made participants wait and watch. Sentiments suffered another setback amid expectations of a rate hike by the US Federal Reserve later this year, accelerating the pace of outflows by foreign investors, offsetting unabated buying by DIIs, brokers said. Escalating North Korean worries too continued to dampen trading sentiments. In addition, the rupee quoting at over six-month low of 65.75 against the dollar in day trade too dented the sentiment further.

BSE Sensex tanked 440 points to end at over three-month low

Twitter has announced a test project allowing tweets to be expanded to 280 characters, double the existing limit, in the latest effort to boost flagging growth at the social network.

San Francisco-based Twitter said the new limit, a major shift for the messaging platform known for its 140-character tweets, aims to address &quot;a major cause of frustration&quot; for many users.

Twitter chief executive Jack Dorsey fired off what may be one of the first expanded tweets.

&quot;This is a small change, but a big move for us,&quot; he wrote. &quot;140 was an arbitrary choice... Proud of how thoughtful the team has been in solving a real problem people have when trying to tweet.&quot;

A &quot;small group&quot; of users will see the new limits before Twitter decides on rolling out the changes more broadly, the company said.

&quot;Trying to cram your thoughts into a tweet, we&#39;ve all been there, and it&#39;s a pain,&quot; product manager Aliza Rosen and software engineer Ikuhiro Ihara said in a blog post.

&quot;We&#39;re doing something new: we&#39;re going to try out a longer limit, 280 characters, in languages impacted by cramming.&quot;

Twitter planned to leave the old limit in place for tweets in Japanese, Chinese, and Korean because internal data showed written characters in those languages packed plenty into the allotted space.

&quot;Our research shows us that the character limit is a major cause of frustration for people tweeting in English, but it is not for those tweeting in Japanese,&quot; Rosen and Ihara said.

&quot;Also, in all markets, when people don&#39;t have to cram their thoughts into 140 characters and actually have some to spare, we see more people tweeting.&quot;

Twitter, which became a public company in 2013, has never reported a profit even though it has built a loyal base of celebrities, journalists, and political figures.

In its most recent quarter, Twitter reported its base of monthly active users was unchanged at 328 million compared to the first three months of the year and up just five per cent from a year earlier.

Its growth has failed to keep pace with the social network leader Facebook, which has some two billion users, and Facebook-owned Instagram, with 800 million.&nbsp;

&quot;We&#39;re hoping fewer tweets run into the character limit, which should make it easier for everyone to tweet,&quot; Rosen and Ihara said in the blog post.

&quot;We understand since many of you have been Tweeting for years, there may be an emotional attachment to 140 characters... But we tried this, saw the power of what it will do, and fell in love with this new, still brief, constraint.&quot;

Twitter has been seeking to draw in users by offering more video including live streaming of sporting events, aiming to broaden its appeal.

The messaging platform reported a net loss of $116 million in the second quarter, slightly wider than its $107 million loss a year ago.

It remained an open question whether the new tweet limit would ignite the growth an engagement Twitter needs to compete in the fast-moving social media segment.

&quot;The more they expand, the more they start looking like Facebook,&quot; Enderle Group analyst Rob Enderle said of Twitter.

&quot;And if they start looking like Facebook, then Facebook will take them out and has the warchest for it.&quot;

The move by Twitter could also be rendered moot by lifestyle changes brought about by trends in voice-commanded digital assistants and looking at the world through mixed- reality glasses, said Gartner analyst Brian Blau.

&quot;What are tweets in those worlds?&quot; Blau said. &quot;We see Twitter sort of struggling to get this business right while everyone else is moving in an another direction.&quot;

Twitter has announced a test project allowing tweets to be expanded to 280 characters, double the existing limit

Twitter has announced a test project allowing tweets to be expanded to 280 characters, double the existing limit, in the latest effort to boost flagging growth at the social network. San Francisco-based Twitter said the new limit, a major shift for the messaging platform known for its 140-character tweets, aims to address "a major cause of frustration" for many users. Twitter chief executive Jack Dorsey fired off what may be one of the first expanded tweets. "This is a small change, but a big move for us," he wrote. "140 was an arbitrary choice... Proud of how thoughtful the team has been in solving a real problem people have when trying to tweet." A "small group" of users will see the new limits before Twitter decides on rolling out the changes more broadly, the company said. "Trying to cram your thoughts into a tweet, we've all been there, and it's a pain," product manager Aliza Rosen and software engineer Ikuhiro Ihara said in a blog post. "We're doing something new: we're going to try out a longer limit, 280 characters, in languages impacted by cramming." Twitter planned to leave the old limit in place for tweets in Japanese, Chinese, and Korean because internal data showed written characters in those languages packed plenty into the allotted space. "Our research shows us that the character limit is a major cause of frustration for people tweeting in English, but it is not for those tweeting in Japanese," Rosen and Ihara said. "Also, in all markets, when people don't have to cram their thoughts into 140 characters and actually have some to spare, we see more people tweeting." Twitter, which became a public company in 2013, has never reported a profit even though it has built a loyal base of celebrities, journalists, and political figures. In its most recent quarter, Twitter reported its base of monthly active users was unchanged at 328 million compared to the first three months of the year and up just five per cent from a year earlier. Its growth has failed to keep pace with the social network leader Facebook, which has some two billion users, and Facebook-owned Instagram, with 800 million. "We're hoping fewer tweets run into the character limit, which should make it easier for everyone to tweet," Rosen and Ihara said in the blog post. "We understand since many of you have been Tweeting for years, there may be an emotional attachment to 140 characters... But we tried this, saw the power of what it will do, and fell in love with this new, still brief, constraint." Twitter has been seeking to draw in users by offering more video including live streaming of sporting events, aiming to broaden its appeal. The messaging platform reported a net loss of $116 million in the second quarter, slightly wider than its $107 million loss a year ago. It remained an open question whether the new tweet limit would ignite the growth an engagement Twitter needs to compete in the fast-moving social media segment. "The more they expand, the more they start looking like Facebook," Enderle Group analyst Rob Enderle said of Twitter. "And if they start looking like Facebook, then Facebook will take them out and has the warchest for it." The move by Twitter could also be rendered moot by lifestyle changes brought about by trends in voice-commanded digital assistants and looking at the world through mixed- reality glasses, said Gartner analyst Brian Blau. "What are tweets in those worlds?" Blau said. "We see Twitter sort of struggling to get this business right while everyone else is moving in an another direction."

Twitter aims to boost appeal with new 280-character tweet limit

Fortnite, a video game developed by People Can Fly and Epic Games made an addition with the Update 1.6.3 on Tuesday.&nbsp;

The new update will introduce new weapons, squads and more to the multiplayer survival game.&nbsp;

The game was released as a paid early access title on July 25, 2017, for Microsoft Windows, macOS, PlayStation 4 and Xbox One.

The new release has come as a standalone mode and will be free to play on PlayStation 4, Xbox One and PC.&nbsp;

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<blockquote class="twitter-video" data-lang="en">
Fortnite Battle Royale goes FREE for everyone starting September 26! <a href="https://t.co/wVi4wg3xOm">https://t.co/wVi4wg3xOm</a> <a href="https://t.co/OfDbJdV6sA">pic.twitter.com/OfDbJdV6sA</a>
&mdash; Fortnite (@FortniteGame) <a href="https://twitter.com/FortniteGame/status/910503987106869248">September 20, 2017</a></blockquote>
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The update 1.6.3 is introduced alongside Fortnite&#39;s Battle Royale. It will have Duos and Squad matches for Battle Royale.&nbsp;

It will let groups of two or four players against another team.

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The new update will introduce new weapons, squads and more to the multiplayer survival game

Fortnite, a video game developed by People Can Fly and Epic Games made an addition with the Update 1.6.3 on Tuesday. The new update will introduce new weapons, squads and more to the multiplayer survival game. The game was released as a paid early access title on July 25, 2017, for Microsoft Windows, macOS, PlayStation 4 and Xbox One. The new release has come as a standalone mode and will be free to play on PlayStation 4, Xbox One and PC. Fortnite Battle Royale goes FREE for everyone starting September 26! https://t.co/wVi4wg3xOm pic.twitter.com/OfDbJdV6sA — Fortnite (@FortniteGame) September 20, 2017 × The update 1.6.3 is introduced alongside Fortnite's Battle Royale. It will have Duos and Squad matches for Battle Royale. It will let groups of two or four players against another team.

Video game battle: Fortnite Battle Royale goes free

Lloyds Banking Group on Tuesday told about 1,000 staff in its insurance division that they will be moving to Diligenta, a subsidiary of India&#39;s Tata Consultancy Services, in a move criticised by trade union Unite.

Unite said that the staff at Scottish Widows and Clerical Medical in Edinburgh and Bristol will be transferred to the new company. No time frame for the move was given.

&quot;The bank&#39;s &#39;sale&#39; of its committed Scottish Widows and Clerical Medical staff represents contempt for long-serving and skilled employees,&quot; Rob MacGregor, a Unite national officer, said in a statement.

&quot;The message from Lloyds Banking Group is loud and clear and appears to be &#39;so long, thanks for your efforts, you work for them now&#39;.&quot;

Lloyds in a statement confirmed the transfer of jobs and said the new arrangements &quot;will make managing heritage products simpler and more efficient for the bank&#39;s customers.&quot;

Tata Consultancy Services, India&rsquo;s biggest software services exporter, is the most profitable company in the nation&#39;s largest conglomerate.

Unite said that the staff at Scottish Widows and Clerical Medical in Edinburgh and Bristol will be transferred to the new company.

Lloyds Banking Group on Tuesday told about 1,000 staff in its insurance division that they will be moving to Diligenta, a subsidiary of India's Tata Consultancy Services, in a move criticised by trade union Unite. Unite said that the staff at Scottish Widows and Clerical Medical in Edinburgh and Bristol will be transferred to the new company. No time frame for the move was given. "The bank's 'sale' of its committed Scottish Widows and Clerical Medical staff represents contempt for long-serving and skilled employees," Rob MacGregor, a Unite national officer, said in a statement. "The message from Lloyds Banking Group is loud and clear and appears to be 'so long, thanks for your efforts, you work for them now'." Lloyds in a statement confirmed the transfer of jobs and said the new arrangements "will make managing heritage products simpler and more efficient for the bank's customers." Tata Consultancy Services, India’s biggest software services exporter, is the most profitable company in the nation's largest conglomerate.

Lloyds bank to transfer 1,000 staff to India's Tata Consultancy Services

The rupee weakened to its lowest in six months as concerns over weak economic growth and uncertainty over the government&#39;s implementation of reform measures hit foreign investor sentiment.

The rupee was at 65.3275 to the dollar after falling to 65.3550, its lowest since March 24, on corporate dollar purchases and dollar outflows from equity markets said dealers. The Indian currency had ended at 65.12 on Monday.

The benchmark BSE index fell 0.5 per cent, while the broader NSE index was 0.4 per cent lower.

&quot;There is panic among foreign investors on fiscal stimulus and growth,&quot; said one dealer at a foreign bank.

India&#39;s economic growth slowed to a three-year low of 5.7 per cent in the June quarter, prompting the government to plan several steps including fiscal stimulus which would push the fiscal deficit wider than budgeted.

The concerns over weak macroeconomic fundamentals have led to foreign investors pulling out dollars from India&#39;s stock markets. So far this month, India has seen a net outflow of $359 million led by a sell-off in stocks.

&quot;Debt investors are also worried but they are hedging their forex risks while equity investors are pulling out,&quot; another dealer said.

The rupee weakened to its lowest in six months as concerns over weak economic growth and uncertainty over the government's implementation of reform measures hit foreign investor sentiment

The rupee weakened to its lowest in six months as concerns over weak economic growth and uncertainty over the government's implementation of reform measures hit foreign investor sentiment. The rupee was at 65.3275 to the dollar after falling to 65.3550, its lowest since March 24, on corporate dollar purchases and dollar outflows from equity markets said dealers. The Indian currency had ended at 65.12 on Monday. The benchmark BSE index fell 0.5 per cent, while the broader NSE index was 0.4 per cent lower. "There is panic among foreign investors on fiscal stimulus and growth," said one dealer at a foreign bank. India's economic growth slowed to a three-year low of 5.7 per cent in the June quarter, prompting the government to plan several steps including fiscal stimulus which would push the fiscal deficit wider than budgeted. The concerns over weak macroeconomic fundamentals have led to foreign investors pulling out dollars from India's stock markets. So far this month, India has seen a net outflow of $359 million led by a sell-off in stocks. "Debt investors are also worried but they are hedging their forex risks while equity investors are pulling out," another dealer said.

Rupee hits 6-month low on growth worries

Renault India will launch a brand new product every year for the next two-three years.&nbsp;

The first product in the list of this launch will be <a href="http://www.wionews.com/india-news/renault-unveils-new-suv-captur-bookings-from-today-20520">Renault Captur SUV</a>.&nbsp;

The car will hit Indian markets in October and is expected to be priced between 10-16 lakhs, ex-showroom

The model is available in both tried and tested petrol and diesel engines.&nbsp;

The diesel Renault Captur will come with 110PS 1.5 liter turbo engine and a 6-speed manual transmission.

The petrol Renault Captur with a 105PS/142Nm 1.5-litre naturally aspirated motor and a 5-speed manual transmission.

Bookings for the car have already been opened and it is expected to be delivered immediately after the announcement of its price.&nbsp;

Renault will introduce its new Platine Variant with the Captur SUV in India.&nbsp;

( Also Read: <a href="http://www.wionews.com/photos/top-cars-toyota-skoda-ford-race-to-capture-india-422">Top cars: Toyota, Skoda, Ford race to capture India</a>)&nbsp;

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Renault India will launch a brand new product every year for the next two-three years

Renault India will launch a brand new product every year for the next two-three years. The first product in the list of this launch will be Renault Captur SUV. The car will hit Indian markets in October and is expected to be priced between 10-16 lakhs, ex-showroom The model is available in both tried and tested petrol and diesel engines. The diesel Renault Captur will come with 110PS 1.5 liter turbo engine and a 6-speed manual transmission. The petrol Renault Captur with a 105PS/142Nm 1.5-litre naturally aspirated motor and a 5-speed manual transmission. Bookings for the car have already been opened and it is expected to be delivered immediately after the announcement of its price. Renault will introduce its new Platine Variant with the Captur SUV in India. ( Also Read: Top cars: Toyota, Skoda, Ford race to capture India)

Renault begins its series of launch in India with Renault Captur SUV

Power grids maker ABB has entered into an agreement of $2.6 billion with General Electric&#39;s Investment Solution.

ABB will be buying General Electric&#39;s Industrial Solution on a bet that it can improve lackluster margins at the unit over the next five years.

Zurich-based ABB sees a potential for cost synergies of $200 million annually after five years with the deal, which includes terms for long-term use of GE&#39;s brand.

In 2016, Industrial Solutions had sales of about $2.7 billion, with an operating margin of some 8 per cent.

ABB is wagering on being able to cut costs and boost profitability at the Georgia-based GE business, whose operating earnings before interest, taxes and amortization (EBITA) as a percentage of sales is only about half the 15 percent of ABB&#39;s comparable Electrification Products division.

Initially, combining with GE&#39;s unit will reduce Electrification Products&#39; margins to below ABB&#39;s target of 15-19 per cent, although ABB aims to return to that level by 2020, it said.

&quot;Together with the GE Industrial Solutions team, we will execute our well-established plans in a disciplined way to bring this business as part of the global ABB family back to peer performance,&quot; ABB CEO Ulrich Spiesshofer said in a statement.

Products made by the GE unit include circuit breakers, switchgear and power supply equipment used for facilities including data centers.

GE had resumed negotiations to sell the business to ABB after the U.S. industrial conglomerate moderated its price expectations, people familiar with the matter told Reuters in August.

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ABB will be buying General Electric's Industrial Solution on a bet that it can improve lackluster margins at the unit over the next five years

Power grids maker ABB has entered into an agreement of $2.6 billion with General Electric's Investment Solution. ABB will be buying General Electric's Industrial Solution on a bet that it can improve lackluster margins at the unit over the next five years. Zurich-based ABB sees a potential for cost synergies of $200 million annually after five years with the deal, which includes terms for long-term use of GE's brand. In 2016, Industrial Solutions had sales of about $2.7 billion, with an operating margin of some 8 per cent. ABB is wagering on being able to cut costs and boost profitability at the Georgia-based GE business, whose operating earnings before interest, taxes and amortization (EBITA) as a percentage of sales is only about half the 15 percent of ABB's comparable Electrification Products division. Initially, combining with GE's unit will reduce Electrification Products' margins to below ABB's target of 15-19 per cent, although ABB aims to return to that level by 2020, it said. "Together with the GE Industrial Solutions team, we will execute our well-established plans in a disciplined way to bring this business as part of the global ABB family back to peer performance," ABB CEO Ulrich Spiesshofer said in a statement. Products made by the GE unit include circuit breakers, switchgear and power supply equipment used for facilities including data centers. GE had resumed negotiations to sell the business to ABB after the U.S. industrial conglomerate moderated its price expectations, people familiar with the matter told Reuters in August.

ABB buys GE Business for $2.6 billion

Indian shares fell as much as one per cent on Monday and extended losses for a fifth straight session, tracking weakness in Asian peers, with index heavyweights Larsen &amp; Toubro Ltd and HDFC Bank Ltd dragging down the indexes.

MSCI&#39;s broadest index of Asia-Pacific shares outside Japan fell 0.35 per cent, while Chinese stocks remained shaky following the Federal Reserve&#39;s hawkish policy stance and S&amp;P&#39;s downgrade of China&#39;s sovereign rating last week.

The Nifty was down 0.93 per cent at 9,871.95 as of 0546 GMT, while the Sensex was 0.83 per cent lower at 31,656.37.

&quot;It&#39;s a clear case of correction out there with investors taking a more cautious approach in the near term,&quot; said Siddhartha Khemka, Head of research - Equity, Centrum Wealth.

Shares of HDFC Bank Ltd and Larsen &amp; Tourbro Ltd fell 1.5 per cent and 2.3 per cent, respectively.

The Nifty PSU Bank index was down for a third straight session, sliding as much as 2.8 per cent. Andhra Bank and Canara Bank Ltd lost more than 2 per cent each.

Tata Steel Ltd was among the top percentage losers on the index, plunging more than 4 per cent and pushing the Nifty Metal index lower.

Meanwhile, Shopper&#39;s Stop Ltd climbed to its highest since Feb. 5, 2015 after an Amazon affiliate agreed to buy a stake in the retailer.

Indian shares fell as much as one per cent on Monday and extended losses for a fifth straight session, tracking weakness in Asian peers, with index heavyweights Larsen & Toubro Ltd and HDFC Bank Ltd dragging down the indexes

Indian shares fell as much as one per cent on Monday and extended losses for a fifth straight session, tracking weakness in Asian peers, with index heavyweights Larsen & Toubro Ltd and HDFC Bank Ltd dragging down the indexes. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.35 per cent, while Chinese stocks remained shaky following the Federal Reserve's hawkish policy stance and S&P's downgrade of China's sovereign rating last week. The Nifty was down 0.93 per cent at 9,871.95 as of 0546 GMT, while the Sensex was 0.83 per cent lower at 31,656.37. "It's a clear case of correction out there with investors taking a more cautious approach in the near term," said Siddhartha Khemka, Head of research - Equity, Centrum Wealth. Shares of HDFC Bank Ltd and Larsen & Tourbro Ltd fell 1.5 per cent and 2.3 per cent, respectively. The Nifty PSU Bank index was down for a third straight session, sliding as much as 2.8 per cent. Andhra Bank and Canara Bank Ltd lost more than 2 per cent each. Tata Steel Ltd was among the top percentage losers on the index, plunging more than 4 per cent and pushing the Nifty Metal index lower. Meanwhile, Shopper's Stop Ltd climbed to its highest since Feb. 5, 2015 after an Amazon affiliate agreed to buy a stake in the retailer.

Sensex, Nifty fall for fifth day led by L&T, HDFC Bank

The Sensex tanked 287 points in the opening trade on Monday morning, weighed down by concerns over the US, North Korea tensions and the exit of foreign capital. The Nifty fell below the 9,900 mark to &nbsp;9,864.60.

The BSE 30-share index fell 287.50 points, or 0.90 per cent, to 31,634.94. The barometer has slumped 501.22 points in the previous four sessions. 
 
The 50-share NSE Nifty was trading down by 99.80 points, or 1 per cent.

All sectoral indices were in the red, dragged down by capital goods, metal, consumer durables and healthcare, falling by up to 2.03 per cent. 
 
Traders said that apart from the continuous foreign fund&nbsp;outflows, selling by retail investors amid lingering North Korea tensions led to a further drop in the sensitive index. 
 
Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,241.73 crore on Friday, provisional data released by the stock exchanges showed. 
 
Adani Ports, Lupin, Axis Bank, Tata Steel, SBI, L&amp;T, Kotak Bank, Maruti Suzuki, Sun Pharma, Hero MotoCorp, Coal India and ONGC, were the major losers which&nbsp;pulled down the key indices - the decline was up to 3.14 per cent. 
 
Hong Kong&#39;s Hang Seng fell 1.16 per cent while the Shanghai Composite shed 0.38 per cent in early trade today. 
 
Japan&#39;s Nikkei, however, was up 0.58 per cent. 
 
The US Dow Jones Industrial Average ended 0.04 per cent down on Friday.

Sensex plunged over 287 points and the Nifty broke below the 9,900-mark in opening trade on persistent concerns about US-North Korea tug-of-war amid foreign capital exit

The Sensex tanked 287 points in the opening trade on Monday morning, weighed down by concerns over the US, North Korea tensions and the exit of foreign capital. The Nifty fell below the 9,900 mark to 9,864.60. The BSE 30-share index fell 287.50 points, or 0.90 per cent, to 31,634.94. The barometer has slumped 501.22 points in the previous four sessions. The 50-share NSE Nifty was trading down by 99.80 points, or 1 per cent. All sectoral indices were in the red, dragged down by capital goods, metal, consumer durables and healthcare, falling by up to 2.03 per cent. Traders said that apart from the continuous foreign fund outflows, selling by retail investors amid lingering North Korea tensions led to a further drop in the sensitive index. Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,241.73 crore on Friday, provisional data released by the stock exchanges showed. Adani Ports, Lupin, Axis Bank, Tata Steel, SBI, L&T, Kotak Bank, Maruti Suzuki, Sun Pharma, Hero MotoCorp, Coal India and ONGC, were the major losers which pulled down the key indices - the decline was up to 3.14 per cent. Hong Kong's Hang Seng fell 1.16 per cent while the Shanghai Composite shed 0.38 per cent in early trade today. Japan's Nikkei, however, was up 0.58 per cent. The US Dow Jones Industrial Average ended 0.04 per cent down on Friday.

Sensex dives 287 points over global concerns, foreign fund outflows

The&nbsp;euro&nbsp;and&nbsp;European government&nbsp;bond&nbsp;yields&nbsp;slipped on Monday after the bloc&#39;s most powerful leader, German Chancellor Angela&nbsp;Merkel, won a fourth term but faced a fractured parliament as support for the far right surged.

Investors were unnerved by the prospect of months of coalition talks that could distract from negotiations with Britain over its divorce from the&nbsp;European Union and efforts to integrate the bloc&#39;s remaining members.

Some analysts said the political uncertainty may also throw into question&nbsp;European Central Bank plans to reduce monetary stimulus, a move likely to be announced at the ECB&#39;s next meeting on Oct. 26.

&quot;There might be some concerns at the ECB that a less stable and less pro-EU German government will have negative implications for the (economic) outlook. That would be dovish,&quot; said Frederik Ducrozet, an economist at Pictet Wealth Management.

Business confidence in Germany deteriorated unexpectedly in September, a survey on Monday showed, and the chief economist of the Ifo economic institute said the election result could stoke further uncertainty.

A decline in the&nbsp;euro&nbsp;accelerated after the data, and by 1040 GMT it was down 0.6 per cent at $1.1885. That put more distance between a 2-1/2-year high of $1.2092 reached on Sept. 8, when the last ECB meeting fuelled expectations the central bank would begin tapering its massive stimulus programme.

Europe&#39;s benchmark German&nbsp;bond&nbsp;yield was set for its biggest daily fall in seven weeks, down 5 basis points at 0.40 per cent.

The fall was less pronounced in Southern&nbsp;European&nbsp;bond&nbsp;yields&nbsp;as the election result led to concerns about the emergence of a more hardline stance towards the&nbsp;eurozone in the bloc&#39;s largest economy.

While&nbsp;Merkel&nbsp;held on to power in Sunday&#39;s vote, the surprise winners were the anti-immigration Alternative for Germany (AfD), which became the first far-right party to enter the country&#39;s parliament in more than half a century.

All parties have ruled out a coalition with the AfD but investors are unsettled by the possibilityMerkel&nbsp;may have to form a coalition with the Free Democrats (FDP), who are seen more opposed to deeper financial integration in the&nbsp;euro&nbsp;area and might take a more hardline stance on Greece&#39;s debt.

&quot;This suggests headwinds to the&nbsp;euro&nbsp;and periphery,&quot; analysts at Morgan Stanley said in a note.

The impact on stock markets from the election was less marked, with&nbsp;eurozone shares down around 0.2 per cent.

That followed sharp falls in Asian equities which were hit by concerns over the economic health of the world&#39;s second-biggest economy China, while Wall Street was set to open a touch lower.

MSCI&#39;s broadest index of Asia-Pacific shares outside Japan was down 0.8 per cent.

Hong Kong&#39;s Hang Seng was down 1.3 percent and Shanghai slipped 0.4 per cent after a number of Chinese cities rolled out new measures to cool housing prices.

Asian investor sentiment was also undermined by concerns that China&#39;s beefed-up environmental protection could reduce demand, and consequently economic growth.

KIWI JITTERS

The New Zealand dollar was also hit by political jitters as the ruling National Party won the largest number votes in a weekend election but failed to secure a ruling majority, with a protracted period of coalition-building now also a possibility there.

The kiwi, the world 11th most-traded currency, was down 0.7 per cent at $0.7288 and set for its biggest daily&nbsp;drop&nbsp;in around a month.

It was at a 1-1/2-month high of $0.7435 as recently as Sept. 20, when speculation for a comfortable win by the ruling party had boosted the currency.

&quot;While there are a few different scenarios and some potentially testy issues to negotiate, ultimately the political landscape appears as though it will remain relatively centralist and we are reasonably agnostic on what it all means,&quot; wrote economists at ANZ.

The pound edged up 0.1 per cent to $1.3510, bouncing back from a slide on Friday when rating agency Moody&#39;s downgraded Britain&#39;s credit rating.

The dollar was up 0.3 per cent against a basket of six major currencies at 92.397.

Oil prices rose to their highest in seven months after major producers said at a meeting in Vienna the global market was well on its way towards rebalancing.

The November Brent crude futures contract was up 35 cents at $57.21 a barrel, its highest since Feb. 23, while U.S. crude for November delivery was down 8 cents at $50.58, but not far off recent four-month highs.

Investors were unnerved by the prospect of months of coalition talks that could distract from negotiations with Britain over its divorce from the?European Union and efforts to integrate the bloc's remaining members.

The euro and European government bond yields slipped on Monday after the bloc's most powerful leader, German Chancellor Angela Merkel, won a fourth term but faced a fractured parliament as support for the far right surged. Investors were unnerved by the prospect of months of coalition talks that could distract from negotiations with Britain over its divorce from the European Union and efforts to integrate the bloc's remaining members. Some analysts said the political uncertainty may also throw into question European Central Bank plans to reduce monetary stimulus, a move likely to be announced at the ECB's next meeting on Oct. 26. "There might be some concerns at the ECB that a less stable and less pro-EU German government will have negative implications for the (economic) outlook. That would be dovish," said Frederik Ducrozet, an economist at Pictet Wealth Management. Business confidence in Germany deteriorated unexpectedly in September, a survey on Monday showed, and the chief economist of the Ifo economic institute said the election result could stoke further uncertainty. A decline in the euro accelerated after the data, and by 1040 GMT it was down 0.6 per cent at $1.1885. That put more distance between a 2-1/2-year high of $1.2092 reached on Sept. 8, when the last ECB meeting fuelled expectations the central bank would begin tapering its massive stimulus programme. Europe's benchmark German bond yield was set for its biggest daily fall in seven weeks, down 5 basis points at 0.40 per cent. The fall was less pronounced in Southern European bond yields as the election result led to concerns about the emergence of a more hardline stance towards the eurozone in the bloc's largest economy. While Merkel held on to power in Sunday's vote, the surprise winners were the anti-immigration Alternative for Germany (AfD), which became the first far-right party to enter the country's parliament in more than half a century. All parties have ruled out a coalition with the AfD but investors are unsettled by the possibilityMerkel may have to form a coalition with the Free Democrats (FDP), who are seen more opposed to deeper financial integration in the euro area and might take a more hardline stance on Greece's debt. "This suggests headwinds to the euro and periphery," analysts at Morgan Stanley said in a note. The impact on stock markets from the election was less marked, with eurozone shares down around 0.2 per cent. That followed sharp falls in Asian equities which were hit by concerns over the economic health of the world's second-biggest economy China, while Wall Street was set to open a touch lower. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8 per cent. Hong Kong's Hang Seng was down 1.3 percent and Shanghai slipped 0.4 per cent after a number of Chinese cities rolled out new measures to cool housing prices. Asian investor sentiment was also undermined by concerns that China's beefed-up environmental protection could reduce demand, and consequently economic growth. KIWI JITTERS The New Zealand dollar was also hit by political jitters as the ruling National Party won the largest number votes in a weekend election but failed to secure a ruling majority, with a protracted period of coalition-building now also a possibility there. The kiwi, the world 11th most-traded currency, was down 0.7 per cent at $0.7288 and set for its biggest daily drop in around a month. It was at a 1-1/2-month high of $0.7435 as recently as Sept. 20, when speculation for a comfortable win by the ruling party had boosted the currency. "While there are a few different scenarios and some potentially testy issues to negotiate, ultimately the political landscape appears as though it will remain relatively centralist and we are reasonably agnostic on what it all means," wrote economists at ANZ. The pound edged up 0.1 per cent to $1.3510, bouncing back from a slide on Friday when rating agency Moody's downgraded Britain's credit rating. The dollar was up 0.3 per cent against a basket of six major currencies at 92.397. Oil prices rose to their highest in seven months after major producers said at a meeting in Vienna the global market was well on its way towards rebalancing. The November Brent crude futures contract was up 35 cents at $57.21 a barrel, its highest since Feb. 23, while U.S. crude for November delivery was down 8 cents at $50.58, but not far off recent four-month highs.

German Elections: Euro, bond drop as Merkel holds on

India&#39;s benchmark Sensex fell 1.38 per cent today to close&nbsp;at 31,922.44 and the Nifty too closed down 1.56 per cent at 9,964.40.

The shares were weighed down by banking stocks and speculation over government&#39;s plan for stimulus spending over fiscal deficit.

Tensions over North Korea also hit the Indian markets.

The Nifty lost 1.22 per cent this week, while the Sensex fell 1.09 per cent.&nbsp;

Indian rupee also fell to 65.15 per dollar in intraday trade on speculation of widening fiscal deficit and foreign outflow of funds.

The Nifty lost 1.22 per cent this week, while the Sensex fell 1.09 per cent.?

India's benchmark Sensex fell 1.38 per cent today to close at 31,922.44 and the Nifty too closed down 1.56 per cent at 9,964.40. The shares were weighed down by banking stocks and speculation over government's plan for stimulus spending over fiscal deficit. Tensions over North Korea also hit the Indian markets. The Nifty lost 1.22 per cent this week, while the Sensex fell 1.09 per cent. Indian rupee also fell to 65.15 per dollar in intraday trade on speculation of widening fiscal deficit and foreign outflow of funds.

Sensex, Nifty close down over North Korea tensions, govt's stimulus plan