<a href="https://www.wionews.com/business-economy/sensex-and-nifty-fall-on-recession-worries-financials-metals-drag-246328">Indian shares</a> ended higher on Friday, recording their first weekly gain in three, as investors cheered signs of progress in the US-China trade dispute, with hopes of additional government stimulus fueling the risk-on sentiment.

The broader NSE Nifty ended up 0.68 per cent at 11,023.25, while the benchmark BSE Sensex closed 0.71 per cent higher at 37,332.79.&nbsp;

For the week, the NSE Nifty gained 1.79 per cent and the BSE Sensex added 1.72 per cent.

Pharma and fast-moving consumer goods stocks led the gains, with their indexes closing 2.02 per cent and 1.76 per cent higher, respectively.

Yes Bank ended 1.11 per cent higher, while Sun Pharma closed up 3.62 per cent.

They finished the day as the top gainers among the blue-chip stocks.

Among losers, Bharti Infratel ended 3.1 per cent lower.

Indian shares ended higher on Friday, recording their first weekly gain in three, as investors cheered signs of progress in the US-China trade dispute, with hopes of additional government stimulus fueling the risk-on sentiment.

Indian shares ended higher on Friday, recording their first weekly gain in three, as investors cheered signs of progress in the US-China trade dispute, with hopes of additional government stimulus fueling the risk-on sentiment. The broader NSE Nifty ended up 0.68 per cent at 11,023.25, while the benchmark BSE Sensex closed 0.71 per cent higher at 37,332.79. For the week, the NSE Nifty gained 1.79 per cent and the BSE Sensex added 1.72 per cent. Pharma and fast-moving consumer goods stocks led the gains, with their indexes closing 2.02 per cent and 1.76 per cent higher, respectively. Yes Bank ended 1.11 per cent higher, while Sun Pharma closed up 3.62 per cent. They finished the day as the top gainers among the blue-chip stocks. Among losers, Bharti Infratel ended 3.1 per cent lower.

Nifty, Sensex end higher after two weeks of losses; pharma gains

Indian&nbsp;shares&nbsp;ended&nbsp;sharply&nbsp;lower&nbsp;on Tuesday, led by a drop in&nbsp;automotive stocks after data showed monthly passenger vehicle sales fell at their worst pace in nearly two decades as the industry goes through a prolonged slowdown.

The broader NSE Nifty&nbsp;ended 1.65 per cent&nbsp;lower&nbsp;at 10,925.85, while the benchmark BSE Sensex closed down 1.66 per cent at 36,958.16.

The Nifty&nbsp;autos index slid about 4 per cent, its worst decline since 2016, as sales of passenger vehicles to car dealers plunged 30.9 per cent in July.

Shares&nbsp;of <a href="https://www.wionews.com/business-economy/indias-biggest-carmaker-maruti-suzuki-cuts-temporary-jobs-as-sales-plunge-240343">top&nbsp;Indian&nbsp;automaker Maruti Suzuki Ltd fell 5 per cent.</a>

Shares&nbsp;of oil-to-telecoms conglomerate Reliance Industries Ltd climbed 9.7 per cent after it unveiled the sale of a portion of its oil to chemicals business to Saudi Aramco.

The Nifty energy index was the only&nbsp;sector&nbsp;to&nbsp;end&nbsp;higher out of 14 sub-indexes, powered largely by Reliance.

Private-sector&nbsp;lender Yes Bank Ltd fell 10.9 per cent.

The company named a new chief financial officer on Tuesday.

Indian shares ended sharply lower on Tuesday, led by a drop in automotive stocks after data showed monthly passenger vehicle sales fell at their worst pace in nearly two decades as the industry goes through a prolonged slowdown.

Indian shares ended sharply lower on Tuesday, led by a drop in automotive stocks after data showed monthly passenger vehicle sales fell at their worst pace in nearly two decades as the industry goes through a prolonged slowdown. The broader NSE Nifty ended 1.65 per cent lower at 10,925.85, while the benchmark BSE Sensex closed down 1.66 per cent at 36,958.16. The Nifty autos index slid about 4 per cent, its worst decline since 2016, as sales of passenger vehicles to car dealers plunged 30.9 per cent in July. Shares of top Indian automaker Maruti Suzuki Ltd fell 5 per cent. Shares of oil-to-telecoms conglomerate Reliance Industries Ltd climbed 9.7 per cent after it unveiled the sale of a portion of its oil to chemicals business to Saudi Aramco. The Nifty energy index was the only sector to end higher out of 14 sub-indexes, powered largely by Reliance. Private-sector lender Yes Bank Ltd fell 10.9 per cent. The company named a new chief financial officer on Tuesday.

Indian shares end sharply lower as the auto sector takes beating

<a href="https://www.wionews.com/world/us-designates-china-a-currency-manipulator-as-yuan-hits-record-low-240948">China's tumbling yuan</a> steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US&nbsp;trade tensions.

The <a href="https://www.wionews.com/business-economy/chinese-yuan-falls-to-weakest-level-against-the-dollar-since-2010-240743">currency has slumped 2.3% over the past three days</a> and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan's value has become a new front in the US-China trade war.

On Monday, US&nbsp;Treasury Secretary Steven Mnuchin said Washington would designate China a currency manipulator, its first such move since 1994, sending both the onshore and offshore yuan to record lows.

The People's Bank of China's firmer-than-expected yuan fixing on Tuesday helped pull the currency away from these lows as did an announced bond sale in the offshore market, seen as signs authorities wanted to stem the rout.

"(China is) seizing the narrative on the renminbi," said Andy Wong, multi-asset senior investment manager at Pictet Asset Management in Hong Kong.

"Rather than being pressured to signal that 7 is just a psychological level, they are ... saying this is something that we control rather than markets or whatever other pressures."

The yuan dropped to the record low in offshore trade early in Asia, after Mnuchin's announcement, before bouncing to steady around 7.0642 per dollar.

The PBOC fixed the yuan midpoint, which sets the point around which the currency is allowed to trade, at 6.9683 per dollar, firmer than market expectations.

The PBOC's announcement of a sale of 30 billion yuan&nbsp;worth of yuan-denominated bills in Hong Kong also suggested the central bank was soaking up cash to prevent speculative short-selling.

The currency opened onshore trade at 7.0699 per dollar, then firmed to 7.0515 by 0310 GMT. The offshore yuan fell to as low as 7.1397 per dollar before coming back as far as 7.0596.

However, the currency's stabilisation on Tuesday was not enough assuage markets, but did halt their slide by midsession.

The Shanghai Composite Index fell over 2% to 2,733.92, touching its lowest level since February, while Hong Kong's Hang Seng Index hit it's lowest since January before paring some of the losses.

"Renminbi weakening pressure added uncertainty to the stock market and added pressure especially for financials and property companies," said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong

"The PBOC is sending signals that it would like to mitigate RMB depreciation – by fixing dollar/yuan somewhat low, and by announcing to issue offshore bills," said Frances Cheung, a strategist at Westpac.

Chinese policy sources had told Reuters that the currency was allowed to slide so markets could factor in concerns over the tussle between the world's two largest economies, especially after President Donald Trump announced new tariffs last week.

"We think the most important takeaway is the risk of US-China trade war escalating further has increased," UBS Economist Tao Wang said in a note to clients.

"As the trade war escalates further and depreciation pressure on the renminbi intensifies, we expect the dollar/yuan to trade beyond 7 more often in the rest of the year."

China's tumbling yuan steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US trade tensions.

China's tumbling yuan steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US trade tensions. The currency has slumped 2.3% over the past three days and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan's value has become a new front in the US-China trade war. On Monday, US Treasury Secretary Steven Mnuchin said Washington would designate China a currency manipulator, its first such move since 1994, sending both the onshore and offshore yuan to record lows. The People's Bank of China's firmer-than-expected yuan fixing on Tuesday helped pull the currency away from these lows as did an announced bond sale in the offshore market, seen as signs authorities wanted to stem the rout. "(China is) seizing the narrative on the renminbi," said Andy Wong, multi-asset senior investment manager at Pictet Asset Management in Hong Kong. "Rather than being pressured to signal that 7 is just a psychological level, they are ... saying this is something that we control rather than markets or whatever other pressures." The yuan dropped to the record low in offshore trade early in Asia, after Mnuchin's announcement, before bouncing to steady around 7.0642 per dollar. The PBOC fixed the yuan midpoint, which sets the point around which the currency is allowed to trade, at 6.9683 per dollar, firmer than market expectations. The PBOC's announcement of a sale of 30 billion yuan worth of yuan-denominated bills in Hong Kong also suggested the central bank was soaking up cash to prevent speculative short-selling. The currency opened onshore trade at 7.0699 per dollar, then firmed to 7.0515 by 0310 GMT. The offshore yuan fell to as low as 7.1397 per dollar before coming back as far as 7.0596. However, the currency's stabilisation on Tuesday was not enough assuage markets, but did halt their slide by midsession. The Shanghai Composite Index fell over 2% to 2,733.92, touching its lowest level since February, while Hong Kong's Hang Seng Index hit it's lowest since January before paring some of the losses. "Renminbi weakening pressure added uncertainty to the stock market and added pressure especially for financials and property companies," said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong "The PBOC is sending signals that it would like to mitigate RMB depreciation – by fixing dollar/yuan somewhat low, and by announcing to issue offshore bills," said Frances Cheung, a strategist at Westpac. Chinese policy sources had told Reuters that the currency was allowed to slide so markets could factor in concerns over the tussle between the world's two largest economies, especially after President Donald Trump announced new tariffs last week. "We think the most important takeaway is the risk of US-China trade war escalating further has increased," UBS Economist Tao Wang said in a note to clients. "As the trade war escalates further and depreciation pressure on the renminbi intensifies, we expect the dollar/yuan to trade beyond 7 more often in the rest of the year."

China's yuan steadies but stocks plunge as trade tensions grow

<a href="https://www.wionews.com/world/amazon-founder-jeff-bezos-divorce-final-with-38-billion-settlement-report-233449">Amazon founder Jeff Bezos</a> sold shares worth $1.8 billion in the last three days of July, reducing the value of his stake in the world's third most valuable company to about $110 billion.

The move by Bezos was part of a previously adopted trading plan and was revealed in regulatory filings that also showed that his former wife Mackenzie Bezos is now the online retailer's second largest individual shareholder.

Her stake, stemming from a divorce settlement of the pair's previous joint holdings, is currently worth more than $37 billion.

The numbers mean Bezos retains his pole position among the world's billionaires, while his former wife now ranks 23rd, according to Forbes data.

The couple announced their plan to divorce in a joint Twitter statement in January, and Amazon disclosed in April that 4% of its outstanding stock or 19.7 million shares would be registered in MacKenzie Bezos' name after court approval of the divorce.

The billionaire chief executive has said previously that he would sell stock worth about $1 billion each year to fund his r<a href="https://www.wionews.com/world/amazons-jeff-bezos-unveils-lunar-lander-project-blue-moon-217363">ocket company, Blue Origin</a>.

Blue Origin aims eventually to cut the cost of space flight to levels that would allow millions of people to live and work off Earth, Bezos has said.

Amazon founder Jeff Bezos sold shares worth $1.8 billion in the last three days of July, reducing the value of his stake in the world's third most valuable company to about $110 billion.

Amazon founder Jeff Bezos sold shares worth $1.8 billion in the last three days of July, reducing the value of his stake in the world's third most valuable company to about $110 billion. The move by Bezos was part of a previously adopted trading plan and was revealed in regulatory filings that also showed that his former wife Mackenzie Bezos is now the online retailer's second largest individual shareholder. Her stake, stemming from a divorce settlement of the pair's previous joint holdings, is currently worth more than $37 billion. The numbers mean Bezos retains his pole position among the world's billionaires, while his former wife now ranks 23rd, according to Forbes data. The couple announced their plan to divorce in a joint Twitter statement in January, and Amazon disclosed in April that 4% of its outstanding stock or 19.7 million shares would be registered in MacKenzie Bezos' name after court approval of the divorce. The billionaire chief executive has said previously that he would sell stock worth about $1 billion each year to fund his rocket company, Blue Origin. Blue Origin aims eventually to cut the cost of space flight to levels that would allow millions of people to live and work off Earth, Bezos has said.

Jeff Bezos sells shares worth $1.8 billion in Amazon, still world's top billionaire

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/asian-shares-drift-into-trade-talks-fed-test-239118&amp;sa=U&amp;ved=2ahUKEwiskeK2ktrjAhVFsY8KHaKRDH0QFjABegQIDBAC&amp;usg=AOvVaw007h4SGYlL7z1dT2b0Kwqf">Federal Reserve</a>&nbsp;signals more cuts will follow.

After opening lower, European shares began to gain. Deal-making and a rally in defensive sectors pushed the pan-European STOXX 600 index up 0.3%.

The dollar index - which measures it against a basket of peers - was higher by 0.1% and at its highest since May 31.

A stronger-than-expected US gross domestic product report on Friday gave the dollar wings, leading some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting.

Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move.

More important will be what the central bank flags for the future, given the market implies 100 basis points of easing over the next year or so.

MSCI's All-Country World Index of stocks, down by as much as 0.2% on the day, erased some losses to trade 0.02% lower. Wall Street futures were flat.

"Central banks are very much the focus of attention for markets at the moment," said Rupert Thompson, head of research at Kingswood.

Investors were also keeping an eye on US-China trade talks. US and Chinese negotiators meet in Shanghai this week for their first in-person talks since a G20 truce last month, but expectations for a breakthrough are low.

Data on the weekend showed profits earned by China's industrial firms contracted in June, fuelling concerns that the trade war will drag on economic growth.

"Both parties know they are running out of time to prevent a sharper slowdown in the global economy. However, given the past experiences, investor sentiment isn’t too high," said Hussein Sayed, chief market strategist at FXTM.

"While resolving their core issues seems far from reach at this stage, especially when it comes to China's subsidies and technology transfers, markets need at least a sign of goodwill to prevent a sharp, volatile reaction..."

In Asia, MSCI's broadest index of Asia-Pacific shares was half a per cent lower. Japan's Nikkei dipped 0.2% and Shanghai blue chips 0.1%.

In bonds, eurozone bond yields dipped as jittery investors eyed the trade talks and waited for the likely Fed rate cut after the European Central Bank's dovish signalling last week disappointed some.

The benchmark German 10-year Bund yield fell more than 1 basis point to -0.3920%, not far from last week's record low of -0.422%.

Elsewhere in currencies, <a href="https://www.wionews.com/world/uk-plays-brexit-hardball-with-stubborn-european-union-pound-falls-to-a-two-year-low-239235">sterling fell</a> over half a per cent to a 28-month low of $1.2301 amid reports the government of Prime Minister Boris Johnson was preparing the ground for a "no-deal" Brexit.

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals more cuts will follow.

Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals more cuts will follow. After opening lower, European shares began to gain. Deal-making and a rally in defensive sectors pushed the pan-European STOXX 600 index up 0.3%. The dollar index - which measures it against a basket of peers - was higher by 0.1% and at its highest since May 31. A stronger-than-expected US gross domestic product report on Friday gave the dollar wings, leading some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting. Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move. More important will be what the central bank flags for the future, given the market implies 100 basis points of easing over the next year or so. MSCI's All-Country World Index of stocks, down by as much as 0.2% on the day, erased some losses to trade 0.02% lower. Wall Street futures were flat. "Central banks are very much the focus of attention for markets at the moment," said Rupert Thompson, head of research at Kingswood. Investors were also keeping an eye on US-China trade talks. US and Chinese negotiators meet in Shanghai this week for their first in-person talks since a G20 truce last month, but expectations for a breakthrough are low. Data on the weekend showed profits earned by China's industrial firms contracted in June, fuelling concerns that the trade war will drag on economic growth. "Both parties know they are running out of time to prevent a sharper slowdown in the global economy. However, given the past experiences, investor sentiment isn’t too high," said Hussein Sayed, chief market strategist at FXTM. "While resolving their core issues seems far from reach at this stage, especially when it comes to China's subsidies and technology transfers, markets need at least a sign of goodwill to prevent a sharp, volatile reaction..." In Asia, MSCI's broadest index of Asia-Pacific shares was half a per cent lower. Japan's Nikkei dipped 0.2% and Shanghai blue chips 0.1%. In bonds, eurozone bond yields dipped as jittery investors eyed the trade talks and waited for the likely Fed rate cut after the European Central Bank's dovish signalling last week disappointed some. The benchmark German 10-year Bund yield fell more than 1 basis point to -0.3920%, not far from last week's record low of -0.422%. Elsewhere in currencies, sterling fell over half a per cent to a 28-month low of $1.2301 amid reports the government of Prime Minister Boris Johnson was preparing the ground for a "no-deal" Brexit.

Shares steady as Fed comes into focus; dollar at two-month high

Alphabet Inc shares rose about 8 per cent&nbsp;after the company reported quarterly results that eased investors' concerns about growth challenges facing its <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/australia-to-lift-veil-on-facebook-google-algorithms-to-protect-privacy-238610&amp;sa=U&amp;ved=2ahUKEwi795iK0NLjAhVdnI8KHd4yA3EQFjADegQIEBAC&amp;usg=AOvVaw0DjuqZIq45MxG5qQMQLYOz">Google</a> advertising business.

Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/facebook-to-create-privacy-panel-pay-5-billion-to-us-to-settle-data-breach-allegations-238141&amp;sa=U&amp;ved=2ahUKEwin3vee0NLjAhUJuY8KHX4XCmoQFjAJegQIABAC&amp;usg=AOvVaw3oWENcDFaT7j5nwu9RI2L3">Facebook Inc</a> a day earlier, offered no worrisome guidance about increasing regulatory scrutiny.

The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years.

In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide.

Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&amp;P 500 broadly.

Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack.

Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before.

"We understand there will be scrutiny," and "we will engage constructively," he said.

WEAKENING CONCERNS

Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv.

The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago.

Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business.

Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful.

Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash.

Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years.

Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!"

Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share.

Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter.

Alphabet in its earnings release on Thursday did not mention any government investigations.

Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US&nbsp;Department of Justice's antitrust review of large internet companies.

Reuters reported last month that the US&nbsp;Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour.

Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses.

On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business. Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player Facebook Inc a day earlier, offered no worrisome guidance about increasing regulatory scrutiny. The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years. In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide. Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&P 500 broadly. Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack. Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before. "We understand there will be scrutiny," and "we will engage constructively," he said. WEAKENING CONCERNS Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv. The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago. Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business. Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful. Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash. Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years. Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!" Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share. Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter. Alphabet in its earnings release on Thursday did not mention any government investigations. Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US Department of Justice's antitrust review of large internet companies. Reuters reported last month that the US Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour. Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses. On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet's revenue rebounds easing doubts on growth

Indian shares closed lower after a volatile session on Friday, led by declines in IT firm Wipro Ltd and Oil and Natural Gas Corporation&nbsp;(ONGC).

The broader NSE Nifty closed down 0.26% at 11,552.5, while the benchmark BSE Sensex settled 0.22% lower at 38,736.23. Both indexes saw their worst week since May 10.

Wipro was the biggest percentage loser on the NSE Nifty, falling 3.3% to its worst closing level since March 29, while energy giant ONGC slipped 2.2%.

India's no. two&nbsp;IT services firm Infosys Ltd closed up 0.7% ahead of its quarterly results.

&nbsp;

Indian shares closed lower after a volatile session on Friday, led by declines in IT firm Wipro Ltd and Oil and Natural Gas Corporation (ONGC). The broader NSE Nifty closed down 0.

Indian shares closed lower after a volatile session on Friday, led by declines in IT firm Wipro Ltd and Oil and Natural Gas Corporation (ONGC). The broader NSE Nifty closed down 0.26% at 11,552.5, while the benchmark BSE Sensex settled 0.22% lower at 38,736.23. Both indexes saw their worst week since May 10. Wipro was the biggest percentage loser on the NSE Nifty, falling 3.3% to its worst closing level since March 29, while energy giant ONGC slipped 2.2%. India's no. two IT services firm Infosys Ltd closed up 0.7% ahead of its quarterly results.

Nifty and Sensex slip as Wipro, ONGC drag

Shares of Interglobe Aviation Ltd, which owns India's largest airline IndiGo, fell as much as 19% on Wednesday after one of its <a href="https://www.wionews.com/business-economy/indigo-co-founder-turns-to-sebi-over-alleged-corporate-governance-violation-234507">co-founders alleged violation of corporate governance rules</a> at the parent group.

Interglobe shares hit their lowest since March and were on course for their worst day since January 2016.

IndiGo co-founder Rakesh Gangwal on Tuesday also asked the country's securities regulator to intervene in the matter, a move that suggests that a previously reported row between Gangwal and fellow co-founder Rahul Bhatia was escalating.

"I have vigorously attempted for almost a year to persuade the company to shore up its governance standards, and all my attempts have been thwarted by the IGE Group," Gangwal said in Tuesday's letter to the Securities and Exchange Board of India (SEBI), referring to Bhatia's affiliate group.

Gangwal and his affiliates own nearly 37%, while Bhatia controls about 38% in Interglobe, giving both a major say in its strategy and plans.

At the centre of Gangwal's complaint are IGE and Bhatia's significant controlling rights over IndiGo, which Gangwal says allows them to carry out "questionable" transactions between IGE and Interglobe.

The controlling rights should not enable transactions that violate the company's code of conduct and are not in its best interests, Gangwal said in a letter to Interglobe's board in May, the company's filing to the BSE Ltd stock exchange showed on Tuesday.

Gangwal's RG Group was misleading shareholders by "putting out false allegations and incomplete and incorrect facts," Bhatia told the board in January, the filing showed. 
The allegations represent a "subterfuge" to force a change of the governing structure and controlling rights at the company, Bhatia had said.

SEBI has sought a reply from Interglobe by July 19 on the matter.

Analysts at Mumbai-based ICICI Securities took note of the quarrel between the founders, but maintained their "buy" rating on Interglobe's stock, noting "strong business fundamentals".

Meanwhile, shares in IndiGo's rival SpiceJet climbed as much as 9% on Wednesday.

A representative for IndiGo did not immediately reply to a request seeking comment. 
&nbsp;

Shares of Interglobe Aviation Ltd, which owns India's largest airline IndiGo, fell as much as 19% on Wednesday after one of its co-founders alleged violation of corporate governance rules at the parent group.

Shares of Interglobe Aviation Ltd, which owns India's largest airline IndiGo, fell as much as 19% on Wednesday after one of its co-founders alleged violation of corporate governance rules at the parent group. Interglobe shares hit their lowest since March and were on course for their worst day since January 2016. IndiGo co-founder Rakesh Gangwal on Tuesday also asked the country's securities regulator to intervene in the matter, a move that suggests that a previously reported row between Gangwal and fellow co-founder Rahul Bhatia was escalating. "I have vigorously attempted for almost a year to persuade the company to shore up its governance standards, and all my attempts have been thwarted by the IGE Group," Gangwal said in Tuesday's letter to the Securities and Exchange Board of India (SEBI), referring to Bhatia's affiliate group. Gangwal and his affiliates own nearly 37%, while Bhatia controls about 38% in Interglobe, giving both a major say in its strategy and plans. At the centre of Gangwal's complaint are IGE and Bhatia's significant controlling rights over IndiGo, which Gangwal says allows them to carry out "questionable" transactions between IGE and Interglobe. The controlling rights should not enable transactions that violate the company's code of conduct and are not in its best interests, Gangwal said in a letter to Interglobe's board in May, the company's filing to the BSE Ltd stock exchange showed on Tuesday. Gangwal's RG Group was misleading shareholders by "putting out false allegations and incomplete and incorrect facts," Bhatia told the board in January, the filing showed. The allegations represent a "subterfuge" to force a change of the governing structure and controlling rights at the company, Bhatia had said. SEBI has sought a reply from Interglobe by July 19 on the matter. Analysts at Mumbai-based ICICI Securities took note of the quarrel between the founders, but maintained their "buy" rating on Interglobe's stock, noting "strong business fundamentals". Meanwhile, shares in IndiGo's rival SpiceJet climbed as much as 9% on Wednesday. A representative for IndiGo did not immediately reply to a request seeking comment.

IndiGo shares slump as co-founder alleges misgovernance

Shares of Jet Airways continued the downward trend, plunging over 18 per cent Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from June 28.

The scrip which has been tumbling for the 11th consecutive day further plummeted 18.28 per cent to hit a multi-year low of 67.05 on the BSE. At NSE, shares plunged 17.94 per cent to a multi-year low of Rs 67.

In 11 trading days, the scrip has tumbled over 55 per cent from Rs 150.85 on May 30.

Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular issued last week.

The cash-starved airline suspended operations in April.

In a circular on Wednesday, NSE said shares of the company would be shifted from "Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100 per cent upfront margin and 5 per cent price band".

There are restrictions in trading of shares that are under Trade for Trade Segment.&nbsp;

Shares of Jet Airways continued the downward trend, plunging over 18 per cent Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from June 28.

Shares of Jet Airways continued the downward trend, plunging over 18 per cent Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from June 28. The scrip which has been tumbling for the 11th consecutive day further plummeted 18.28 per cent to hit a multi-year low of 67.05 on the BSE. At NSE, shares plunged 17.94 per cent to a multi-year low of Rs 67. In 11 trading days, the scrip has tumbled over 55 per cent from Rs 150.85 on May 30. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular issued last week. The cash-starved airline suspended operations in April. In a circular on Wednesday, NSE said shares of the company would be shifted from "Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100 per cent upfront margin and 5 per cent price band". There are restrictions in trading of shares that are under Trade for Trade Segment.

Jet Airways shares continue to face massive selling pressure; tumble over 18%

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US&nbsp;trade ties.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.2%, hovering not far off its lowest since late January.

Japan's Nikkei dropped 0.6%, with banks hurt by weak earnings, while South Korean shares also lost 0.6% and Chinese blue chips were down 0.2%.

Asian shares had steadied in early trade on news that US&nbsp;President Donald Trump was planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and weak US&nbsp;and Chinese economic data.

Bucking the downtrend, Australian stocks held steady as weaker-than-expected local job data supported expectations for a central bank rate cute.

The US&nbsp;Commerce Department said late on Wednesday it was adding Huawei Technologies Co Ltd and 70 affiliates to its "Entity List" - a move that bans the company from acquiring components and technology from US firms without government approval.

"There has been an increasing disconnect between Asian markets and US markets over the last six months," said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.

"US&nbsp;markets were buoyed on President Trump possibly pulling back on auto tariffs on both Europe and Japan, but really Asian markets have latched on the fact that he's not letting up in the trade war against China," he added.

On Wednesday, Wall Street shares extended a rebound, with the S&amp;P 500 gaining 0.58% and the MSCI's broadest gauge of world stocks bouncing back from a two-month low hit on Tuesday.

Also on Wednesday, less than a week after Washington slapped higher tariffs on $250 billion imports from China, US Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade negotiations with Chinese counterparts.

The positive trade developments overnight lifted risk sentiment that had been dampened earlier in the session by weak economic data.

China reported surprisingly weaker growth in retail sales and industrial output for April, with overall retail sales posting the slowest increase since May 2003.

In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year.

Pricing in a rate cut

Weak data underpinned US bond prices, pushing down yields further.

The 10-year US Treasuries yield eased to 2.371%, near its 15-month low of 2.340% touched on March 28.

The two-year notes yield hit a 15-month low of 2.139% on Wednesday and last stood at 2.1616%.

Fed funds rate futures are fully pricing in a rate cut by the end of this year and more than a 50 per cent chance of a move by September.

"The markets are inching step by step in pricing in a rate cut. That is a sea change from a year ago when the consensus was three to four rate hikes a year," said Akira Takei, bond fund manager at Asset Management One.

In the foreign exchange market, the Australian dollar brushed its lowest since early January after a drop in the country's full-time jobs supported views the central bank may be forced to lower rates soon to stimulate the economy.

"Domestic data is starting to come off. We've got increased global concerns as well," said Rakuten's Twidale.

"Expectations now will be rising that we are to get a cut in June or in the (Reserve Bank of Australia's) meeting after that."

Against the yen, the dollar dipped a tenth of a per cent to 109.49.

The euro rose 0.1% to $1.1208.

Oil prices gained on the prospect of mounting tensions in the Middle East hitting global supplies despite an unexpected build in US&nbsp;crude inventories.

Brent crude rose 0.5% to $72.10 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.35, also half a per cent higher.

The United States pulled staff from its embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran.

The sabotage of the tankers, for which no one has claimed responsibility, and Saudi Arabia's announcement on Tuesday that armed drones hit two of its oil pumping stations have raised concerns Washington and Tehran may be inching toward conflict.

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.

Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-US trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.2%, hovering not far off its lowest since late January. Japan's Nikkei dropped 0.6%, with banks hurt by weak earnings, while South Korean shares also lost 0.6% and Chinese blue chips were down 0.2%. Asian shares had steadied in early trade on news that US President Donald Trump was planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and weak US and Chinese economic data. Bucking the downtrend, Australian stocks held steady as weaker-than-expected local job data supported expectations for a central bank rate cute. The US Commerce Department said late on Wednesday it was adding Huawei Technologies Co Ltd and 70 affiliates to its "Entity List" - a move that bans the company from acquiring components and technology from US firms without government approval. "There has been an increasing disconnect between Asian markets and US markets over the last six months," said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney. "US markets were buoyed on President Trump possibly pulling back on auto tariffs on both Europe and Japan, but really Asian markets have latched on the fact that he's not letting up in the trade war against China," he added. On Wednesday, Wall Street shares extended a rebound, with the S&P 500 gaining 0.58% and the MSCI's broadest gauge of world stocks bouncing back from a two-month low hit on Tuesday. Also on Wednesday, less than a week after Washington slapped higher tariffs on $250 billion imports from China, US Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue trade negotiations with Chinese counterparts. The positive trade developments overnight lifted risk sentiment that had been dampened earlier in the session by weak economic data. China reported surprisingly weaker growth in retail sales and industrial output for April, with overall retail sales posting the slowest increase since May 2003. In the United States, retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, while industrial production fell 0.5% in April, the third drop this year. Pricing in a rate cut Weak data underpinned US bond prices, pushing down yields further. The 10-year US Treasuries yield eased to 2.371%, near its 15-month low of 2.340% touched on March 28. The two-year notes yield hit a 15-month low of 2.139% on Wednesday and last stood at 2.1616%. Fed funds rate futures are fully pricing in a rate cut by the end of this year and more than a 50 per cent chance of a move by September. "The markets are inching step by step in pricing in a rate cut. That is a sea change from a year ago when the consensus was three to four rate hikes a year," said Akira Takei, bond fund manager at Asset Management One. In the foreign exchange market, the Australian dollar brushed its lowest since early January after a drop in the country's full-time jobs supported views the central bank may be forced to lower rates soon to stimulate the economy. "Domestic data is starting to come off. We've got increased global concerns as well," said Rakuten's Twidale. "Expectations now will be rising that we are to get a cut in June or in the (Reserve Bank of Australia's) meeting after that." Against the yen, the dollar dipped a tenth of a per cent to 109.49. The euro rose 0.1% to $1.1208. Oil prices gained on the prospect of mounting tensions in the Middle East hitting global supplies despite an unexpected build in US crude inventories. Brent crude rose 0.5% to $72.10 a barrel, while US West Texas Intermediate (WTI) crude fetched $62.35, also half a per cent higher. The United States pulled staff from its embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran. The sabotage of the tankers, for which no one has claimed responsibility, and Saudi Arabia's announcement on Tuesday that armed drones hit two of its oil pumping stations have raised concerns Washington and Tehran may be inching toward conflict.

Global Markets: Asian shares fall after US blacklists China's Huawei

Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration's plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike.

US President Donald Trump said on Thursday he had received a "beautiful letter" from Chinese President Xi Jinping, stoking hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods to 25 per cent from 10 per cent. That provided some support for stocks in early Asian trade though sentiment remains cautious.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.2 per cent while Japan's Nikkei rose 0.4 per cent. E-mini futures for US&nbsp;S&amp;P500 rose 0.4 per cent in early Asian trade.

Yet with less than four hours left before the announced start of new rates at 12:01 a.m. (0401) GMT on Friday, right in the middle of two days of meetings with a Chinese delegation, some see the risk of a fresh escalation in the trade war.

"I'd say there's 50 per cent chance the tariffs will be raised as announced, which should lead to fresh selling in stocks later today," said Norihiro Fujito, chief investment in Mitsubishi UFJ Morgan Stanley Securities.

China's Vice Premier Liu He said he hopes to engage in a rational and candid exchange with the US after arriving in Washington for a new round of trade talks, China's official Xinhua news agency reported.

Trump also said on Thursday he was taking steps to authorise new tariffs on $325 billion in Chinese imports.

Concerns about renewed escalation in the trade tensions supported safe-haven assets.

The 10-year US&nbsp;Treasuries yield stood at 2.453 per cent near its lowest levels since late March.

In the currency market, the yen is favoured, with the dollar changing hands at 109.71 yen, having hit a three-month low of 109.47 on Thursday.

The euro firmed to $1.1220 while the Chinese yuan perked at 6.838 per dollar having hit a four-month low of 6.8638 to the dollar the previous day.

MSCI's emerging market currency index also tumbled to a four-month low.

Oil prices held firm after Trump's comments on Xi's letter raised hopes for a deal for now.

Brent rose 0.7 per cent to $70.86 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.9 per cent to $62.24 per barrel.

Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration's plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike.

Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration's plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike. US President Donald Trump said on Thursday he had received a "beautiful letter" from Chinese President Xi Jinping, stoking hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods to 25 per cent from 10 per cent. That provided some support for stocks in early Asian trade though sentiment remains cautious. MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.2 per cent while Japan's Nikkei rose 0.4 per cent. E-mini futures for US S&P500 rose 0.4 per cent in early Asian trade. Yet with less than four hours left before the announced start of new rates at 12:01 a.m. (0401) GMT on Friday, right in the middle of two days of meetings with a Chinese delegation, some see the risk of a fresh escalation in the trade war. "I'd say there's 50 per cent chance the tariffs will be raised as announced, which should lead to fresh selling in stocks later today," said Norihiro Fujito, chief investment in Mitsubishi UFJ Morgan Stanley Securities. China's Vice Premier Liu He said he hopes to engage in a rational and candid exchange with the US after arriving in Washington for a new round of trade talks, China's official Xinhua news agency reported. Trump also said on Thursday he was taking steps to authorise new tariffs on $325 billion in Chinese imports. Concerns about renewed escalation in the trade tensions supported safe-haven assets. The 10-year US Treasuries yield stood at 2.453 per cent near its lowest levels since late March. In the currency market, the yen is favoured, with the dollar changing hands at 109.71 yen, having hit a three-month low of 109.47 on Thursday. The euro firmed to $1.1220 while the Chinese yuan perked at 6.838 per dollar having hit a four-month low of 6.8638 to the dollar the previous day. MSCI's emerging market currency index also tumbled to a four-month low. Oil prices held firm after Trump's comments on Xi's letter raised hopes for a deal for now. Brent rose 0.7 per cent to $70.86 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.9 per cent to $62.24 per barrel.

Asian shares near two-month lows ahead of looming US tariff hike

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors.

The 30-share index was trading 134.95 points, or 0.36 per cent, higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20 per cent, to 11,323.30.

In the previous session, the BSE gauge settled 481.56 points or 1.30 per cent, higher at 37,535.66. The broader Nifty closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20.

Top gainers in early trade include HCL Tech, IndusInd Bank, HDFC Bank, HUL, Axis Bank, Bajaj Auto, RIL, SBI and Infosys, rising up to 2.58 per cent. 
While, ONGC, NTPC, Coal India, Vedanta and Bharti Airtel fell up to 2.17 per were trading in the red.

Domestic equities extended their gains for the third session, driven by positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term, experts said.

On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 990.48 crore, provisional data available with BSE showed.

However, investors turned cautious, capping gains on bourses, after retail inflation jumped to a four-month high of 2.57 per cent in February, and industrial growth slipped to 1.7 per cent on account of manufacturing sector slowdown, traders said.

According to the data released by the Central Statistics Office (CSO), the Index of Industrial Production (IIP) expanded by just 1.7 per cent in January, significantly down from 7.5 per cent growth in the year-ago month.

Elsewhere in Asia, Hong Kong's Hang Seng fell 0.59 per cent, Shanghai Composite Index slipped 0.37 per cent, Kospi shed 0.88 per cent, and Japan's Nikkei cracked 1.35 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.38 per cent lower on Tuesday.

The rupee, meanwhile, depreciated marginally against US dollar to 69.76. 
 
The benchmark Brent crude futures rose 0.24 per cent to USD 66.83 per barrel.

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors. The 30-share index was trading 134.

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors. The 30-share index was trading 134.95 points, or 0.36 per cent, higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20 per cent, to 11,323.30. In the previous session, the BSE gauge settled 481.56 points or 1.30 per cent, higher at 37,535.66. The broader Nifty closed with gains of 133.15 points, or 1.19 per cent, at 11,301.20. Top gainers in early trade include HCL Tech, IndusInd Bank, HDFC Bank, HUL, Axis Bank, Bajaj Auto, RIL, SBI and Infosys, rising up to 2.58 per cent. While, ONGC, NTPC, Coal India, Vedanta and Bharti Airtel fell up to 2.17 per were trading in the red. Domestic equities extended their gains for the third session, driven by positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term, experts said. On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 990.48 crore, provisional data available with BSE showed. However, investors turned cautious, capping gains on bourses, after retail inflation jumped to a four-month high of 2.57 per cent in February, and industrial growth slipped to 1.7 per cent on account of manufacturing sector slowdown, traders said. According to the data released by the Central Statistics Office (CSO), the Index of Industrial Production (IIP) expanded by just 1.7 per cent in January, significantly down from 7.5 per cent growth in the year-ago month. Elsewhere in Asia, Hong Kong's Hang Seng fell 0.59 per cent, Shanghai Composite Index slipped 0.37 per cent, Kospi shed 0.88 per cent, and Japan's Nikkei cracked 1.35 per cent in early trade. On Wall Street, Dow Jones Industrial Average ended 0.38 per cent lower on Tuesday. The rupee, meanwhile, depreciated marginally against US dollar to 69.76. The benchmark Brent crude futures rose 0.24 per cent to USD 66.83 per barrel.

Sensex rises over 100 points; Nifty above 11,300

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it.

Sterling, which had risen ahead of the talks between May and Juncker, extended gains in hopes the changes may be enough to sway rebellious British lawmakers who have threatened to vote down May's plan again on Tuesday.

The pound was up 0.5 per cent, buying $1.3215 and taking its gains over two days to more than 1.5 per cent.

A lower likelihood of crashing out of the EU with no Brexit deal could help to inject some bullish sentiment into equity markets by eliminating one of the three major concerns of global investors, alongside trade and slowing global growth, said Greg McKenna, strategist at McKenna Macro.

"Take Brexit off the table and I think some of the real money flows that appear to have turned up late last week are likely to be there again. So I think it helps change the backdrop a little bit," he said.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices.

Chinese blue chips rose 1.3 per cent, extending the previous day's 2 per cent gain.

Despite slowing domestic economic growth and uncertainty about the outlook for trade negotiations between China and the United States, Chinese markets have been buoyed this year by investors' expectations of more stimulus to cushion any downturn.

The CSI300 index has risen more than 25 per cent this year.

But Oliver Jones, market economist at Capital Economics cautioned that the Chinese rally is "built on shaky foundations."

"The surge in China's mainland equity markets since the start of the year looks excessive, even allowing for renewed optimism about stimulus in China and the possibility of a US-China trade deal," he said in a note.

"Since we are anticipating more economic weakness in both China and the rest of the world regardless, we suspect that the Shanghai and Shenzhen markets will fall back sharply later in the year."

Australian shares were up 0.4per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen.

The amended Brexit deal gave a further boost to investors' appetite for riskier assets, after global equity indexes climbed overnight on gains in technology stocks and expectations of more stimulus from China.

US shares rebounded from a week-long losing streak, with news that US chip supplier Nvidia Corp has agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion helping to boost tech shares.

A nearly 7 per cent gain in Nvidia shares helped to propel the Nasdaq Composite 2.02 per cent&nbsp;higher, to 7,558.06 points.

The Dow Jones Industrial Average rose 0.79 per cent, with gains tempered by a 5.3 per cent drop in Boeing shares after some airlines grounded the company's new 737 MAX 8 passenger jet following a second deadly crash of the airliner in five months.

The S&amp;P 500 gained 1.47 per cent to 2,783.3.

RISING YIELDS

The market's turn toward riskier assets lifted yields on US Treasury bonds, with benchmark 10-year Treasury notes at 2.6645 percent compared with its U.S. close of 2.641 per cent on Monday.

The two-year yield was at 2.4998 per cent compared with a US close of 2.477 per cent.

The dollar index, which measures the greenback against a basket of rivals, shed 0.2 per cent to 97.036. But rising risk appetite weighed on the safe-haven yen, pushing the dollar up 0.16 per cent to 111.37.

The euro was up 0.13 per cent on the day at $1.1262.

In commodity markets, oil prices rose on a combination of strong demand and supply cuts by the Organization of the Petrolum Exporting Countries (OPEC).

A political and economic crisis in OPEC-member Venezuela is also seen as lifting crude prices.

Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water.

US crude was up 0.5 per cent at $57.08 a barrel and Brent crude was 0.4 per cent higher at $66.84.

Spot gold jumped 0.2 per cent to $1,296.45 per ounce.

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement.

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it. Sterling, which had risen ahead of the talks between May and Juncker, extended gains in hopes the changes may be enough to sway rebellious British lawmakers who have threatened to vote down May's plan again on Tuesday. The pound was up 0.5 per cent, buying $1.3215 and taking its gains over two days to more than 1.5 per cent. A lower likelihood of crashing out of the EU with no Brexit deal could help to inject some bullish sentiment into equity markets by eliminating one of the three major concerns of global investors, alongside trade and slowing global growth, said Greg McKenna, strategist at McKenna Macro. "Take Brexit off the table and I think some of the real money flows that appear to have turned up late last week are likely to be there again. So I think it helps change the backdrop a little bit," he said. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices. Chinese blue chips rose 1.3 per cent, extending the previous day's 2 per cent gain. Despite slowing domestic economic growth and uncertainty about the outlook for trade negotiations between China and the United States, Chinese markets have been buoyed this year by investors' expectations of more stimulus to cushion any downturn. The CSI300 index has risen more than 25 per cent this year. But Oliver Jones, market economist at Capital Economics cautioned that the Chinese rally is "built on shaky foundations." "The surge in China's mainland equity markets since the start of the year looks excessive, even allowing for renewed optimism about stimulus in China and the possibility of a US-China trade deal," he said in a note. "Since we are anticipating more economic weakness in both China and the rest of the world regardless, we suspect that the Shanghai and Shenzhen markets will fall back sharply later in the year." Australian shares were up 0.4per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen. The amended Brexit deal gave a further boost to investors' appetite for riskier assets, after global equity indexes climbed overnight on gains in technology stocks and expectations of more stimulus from China. US shares rebounded from a week-long losing streak, with news that US chip supplier Nvidia Corp has agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion helping to boost tech shares. A nearly 7 per cent gain in Nvidia shares helped to propel the Nasdaq Composite 2.02 per cent higher, to 7,558.06 points. The Dow Jones Industrial Average rose 0.79 per cent, with gains tempered by a 5.3 per cent drop in Boeing shares after some airlines grounded the company's new 737 MAX 8 passenger jet following a second deadly crash of the airliner in five months. The S&P 500 gained 1.47 per cent to 2,783.3. RISING YIELDS The market's turn toward riskier assets lifted yields on US Treasury bonds, with benchmark 10-year Treasury notes at 2.6645 percent compared with its U.S. close of 2.641 per cent on Monday. The two-year yield was at 2.4998 per cent compared with a US close of 2.477 per cent. The dollar index, which measures the greenback against a basket of rivals, shed 0.2 per cent to 97.036. But rising risk appetite weighed on the safe-haven yen, pushing the dollar up 0.16 per cent to 111.37. The euro was up 0.13 per cent on the day at $1.1262. In commodity markets, oil prices rose on a combination of strong demand and supply cuts by the Organization of the Petrolum Exporting Countries (OPEC). A political and economic crisis in OPEC-member Venezuela is also seen as lifting crude prices. Venezuela's opposition-run congress on Monday declared a "state of alarm" over a five-day power blackout that has crippled the country's oil exports and left millions of citizens scrambling to find food and water. US crude was up 0.5 per cent at $57.08 a barrel and Brent crude was 0.4 per cent higher at $66.84. Spot gold jumped 0.2 per cent to $1,296.45 per ounce.

Pound jumps, Asian shares rise after changes to Brexit deal

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday.&nbsp;

The Nifty meanwhile climbed 133.15 points to close at 11,301.&nbsp;

The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday. &nbsp;

New reports Tuesday said strong global cues and uninterrupted buying by foreign investors were helping prop up the surge.&nbsp;

And that a stronger rupee was contributing to the positive market sentiments.&nbsp;

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday. The Nifty meanwhile climbed 133.15 points to close at 11,301. The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday.

The BSE Sensex climbed 481.56 points to close at 37, 535 on Tuesday. The Nifty meanwhile climbed 133.15 points to close at 11,301. The Sensex closed at a six-month high on Monday, after the announcement of the dates for the general elections a day earlier on Sunday. New reports Tuesday said strong global cues and uninterrupted buying by foreign investors were helping prop up the surge. And that a stronger rupee was contributing to the positive market sentiments.

Sensex extends surge, climbs 481.5 points 

Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 per cent.

Tata Motors also warned that the<a href="http://www.wionews.com/business-economy/tata-motors-jaguar-land-rover-to-halt-production-amid-brexit-disruption-192756"> Jaguar Land Rover (JLR) unit</a>, which brings in most of its revenue, would swing to an operating loss in the year to March versus an earlier projection for breakeven, given weak sales at the luxury British carmaker.

JLR's China retail sales almost halved in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for the bulk of its sales in Europe.

Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalisation of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit.

"We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday.

JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said.

"We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement.

"With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum."

But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018.

JLR's overall retail sales in January plunged 11 per cent.

BROKERAGE SLASH PRICE TARGETS

The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point.

The stock was down about 20 per cent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003.

At least four brokerages cut their price target for Tata Motors shares after its quarterly loss.

Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR.

Tata Motors took a non-cash charge of 278.38 billion rupees for impairment at JLR in the quarter. Changes in market conditions, especially in China, technology disruptions and the rising cost of debt led to the charge.

JLR, Britain's biggest carmaker, also faces disruption due to persistent uncertainty over a Brexit deal and has decided to halt production for a couple of weeks in April.

British Prime Minister Theresa May's Brexit deal was rejected in parliament last month and the government is trying to make changes to win the support of lawmakers even as the date for Britain's departure from the European Union looms less than two months away.

Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 per cent.

Jaguar Land Rover's owner Tata Motors Ltd stunned markets by posting the biggest-ever quarterly loss in Indian corporate history of about $4 billion on slumping China sales, sending its shares crashing as much as 30 per cent. Tata Motors also warned that the Jaguar Land Rover (JLR) unit, which brings in most of its revenue, would swing to an operating loss in the year to March versus an earlier projection for breakeven, given weak sales at the luxury British carmaker. JLR's China retail sales almost halved in the December quarter as overall demand in the world's biggest auto market contracted last year for the first time since the 1990s. The firm has also been buffeted by Brexit woes and weaker business for diesel cars that account for the bulk of its sales in Europe. Tata Motors turned in a third-quarter loss of 269.93 billion rupees ($3.8 billion) on Thursday, more than half its current market capitalisation of $6.1 billion, mostly due to a massive impairment at JLR. Analysts were expecting a profit. "We are now taking clear and decisive actions in JLR to step up its competitiveness, reduce costs and improve cash flows and make the business fit for the future," Chief Financial Officer PB Balaji told reporters on a conference call on Thursday. JLR has taken steps to address the slide in China sales by changing its strategy to focus on profits for dealers instead of sales and incentivising retail sales over wholesale, he said. "We are encouraged by continued demand for the refreshed Range Rover and Range Rover Sport," JLR Chief Commercial Officer Felix Brautigam said in a statement. "With deliveries of the new Evoque due to start later this quarter, we look forward to building momentum." But analysts expect JLR to struggle to generate profit with China's economy projected to slow further this year after growth eased to its weakest pace in almost three decades in 2018. JLR's overall retail sales in January plunged 11 per cent. BROKERAGE SLASH PRICE TARGETS The dour numbers prompted Tata investors to make a beeline for the exits as markets opened on Friday, with shares of the company skidding to their lowest in nine years at one point. The stock was down about 20 per cent by 0720 GMT near 150 rupees, on track for its sharpest drop since 2003. At least four brokerages cut their price target for Tata Motors shares after its quarterly loss. Analysts at Jefferies pegged the stock at 250 rupees, versus an earlier target of 300 rupees, citing weak performance at JLR. Tata Motors took a non-cash charge of 278.38 billion rupees for impairment at JLR in the quarter. Changes in market conditions, especially in China, technology disruptions and the rising cost of debt led to the charge. JLR, Britain's biggest carmaker, also faces disruption due to persistent uncertainty over a Brexit deal and has decided to halt production for a couple of weeks in April. British Prime Minister Theresa May's Brexit deal was rejected in parliament last month and the government is trying to make changes to win the support of lawmakers even as the date for Britain's departure from the European Union looms less than two months away.

Tata Motors posts record $4 billion loss on Jaguar woes, shares crash

Shares of Videocon Industries and ICICI Bank fell by up to 3 per cent Thursday after the CBI booked former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in connection with alleged cheating and irregularities.

The scrip of Videocon Industries Ltd went down by 2.73 per cent to close at Rs 2.85 on the BSE.

Shares of ICICI Bank fell by 0.72 per cent to end at Rs 365 apiece on the BSE.

The CBI has booked Chanda, Deepak and Dhoot in connection with alleged cheating and irregularities in loans sanctioned by the bank to the group in 2012, officials said Thursday.

The agency Thursday carried out searches at multiple locations, including the offices of Videocon group in Mumbai and Aurangabad, offices of Nupower Renewables Pvt Limited which is operated by Deepak Kochhar, and Supreme Energy after registering a case.

In addition to Chanda, Deepak and Dhoot, the agency has also named companies NuPower Renewables, Supreme Energy, Videocon International Electronics and Videocon Industries as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act, they said.

Shares of Videocon Industries and ICICI Bank fell by up to 3 per cent Thursday after the CBI booked former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in connection with alleged cheating and irregularities.

Shares of Videocon Industries and ICICI Bank fell by up to 3 per cent Thursday after the CBI booked former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in connection with alleged cheating and irregularities. The scrip of Videocon Industries Ltd went down by 2.73 per cent to close at Rs 2.85 on the BSE. Shares of ICICI Bank fell by 0.72 per cent to end at Rs 365 apiece on the BSE. The CBI has booked Chanda, Deepak and Dhoot in connection with alleged cheating and irregularities in loans sanctioned by the bank to the group in 2012, officials said Thursday. The agency Thursday carried out searches at multiple locations, including the offices of Videocon group in Mumbai and Aurangabad, offices of Nupower Renewables Pvt Limited which is operated by Deepak Kochhar, and Supreme Energy after registering a case. In addition to Chanda, Deepak and Dhoot, the agency has also named companies NuPower Renewables, Supreme Energy, Videocon International Electronics and Videocon Industries as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act, they said.

Videocon Industries, ICICI Bank shares fall up to 3 per cent

<a href="http://www.wionews.com/business-economy/timeline-debt-laden-jet-airways-rocky-ride-189644">Shares in India's Jet Airways</a> jumped over 18 per cent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control.

CNBC TV18, citing sources, reported on Monday that Jet was likely to finalise a resolution plan with its lenders this week, and that Goyal would trim his 51 per cent stake to 20-25 per cent and agree to the voting rights on his stake being capped at 10 per cent, in a bid to save the debt-laden carrier.

The report also said Etihad may infuse capital into Jet and raise its stake from the 24 per cent it currently owns.

Jet and Goyal did not immediately respond to emails seeking comment.

Cash-strapped Jet early in the month said it had defaulted on debt payments to a consortium of Indian banks and that it was in talks with the consortium led by State Bank of India.

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.

Last week, Reuters reported that crisis talks between Jet and aircraft lessors had failed to ease the row over late payments, prompting some lessors to explore repossessing their aircraft. 
&nbsp;

The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018.

Shares in India's Jet Airways jumped over 18 per cent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control. CNBC TV18, citing sources, reported on Monday that Jet was likely to finalise a resolution plan with its lenders this week, and that Goyal would trim his 51 per cent stake to 20-25 per cent and agree to the voting rights on his stake being capped at 10 per cent, in a bid to save the debt-laden carrier. The report also said Etihad may infuse capital into Jet and raise its stake from the 24 per cent it currently owns. Jet and Goyal did not immediately respond to emails seeking comment. Cash-strapped Jet early in the month said it had defaulted on debt payments to a consortium of Indian banks and that it was in talks with the consortium led by State Bank of India. The 25-year-old airline is facing financial difficulties and owes money to pilots, lessors, and vendors. Intense pricing competition, a weak rupee and rising fuel costs weighed on Indian airlines in 2018. Last week, Reuters reported that crisis talks between Jet and aircraft lessors had failed to ease the row over late payments, prompting some lessors to explore repossessing their aircraft.

Jet Airways shares jump after report chairman Naresh Goyal likely to step down

Asian stocks inched up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

As the Fed's dovish stance kept a lid on the dollar, China's yuan rose to its highest levels in more than five months and was on course for its biggest weekly gains since the 2005 revaluation in onshore trade.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent to the highest levels since December 6, while Japan's benchmark Nikkei advanced 0.7 per cent. Shanghai Composite Index initially rose 0.8 per cent, but that was pared to just 0.1 per cent.

Wall Street extended its rally into a fifth straight day on Thursday in a whipsaw trading session as investors responded to mixed comments by Powell, while a warning from Macy's pummelled retail stocks.&nbsp;

At the Economic Club of Washington, Powell reiterated the views of other policymakers that the Fed would be patient about interest rate hikes.

Major US stock indexes also quickly recovered from brief losses after Powell said that the Fed's balance sheet would be "substantially smaller".

"The word 'patient' is used often when the Fed's policy direction is still tightening but its next rate hike can wait for a considerable time. So risk assets now enjoy support from what we can call Powell put," said Tomoaki Shishido, economist at Nomura Securities.

"Similarly, Trump also softened his stance on China after sharp falls in stock prices. He has offered an olive branch to China and there's no reason China would not want to accept it," he said.

US and Chinese officials are working on arrangements for higher-level trade talks after mid-level officials this week discussed US demands that would require structural change in China to address issues such as IP theft, forced technology transfers and other non-tariff barriers.

US Treasury Secretary Steven Mnuchin said late on Thursday that Chinese Vice Premier Liu He will "most likely" visit Washington later in January for trade talks.

"For markets the upshot is that the outlook for 2019 is looking better as tensions de-escalate, creating the potential for a re-rating of risk assets as the tail risk of a near-term trade war is partially priced out," said Jeremy Lawson, chief economist at Aberdeen Standard Investments in Edinburgh.

"This is especially the case in Asia," he added.

Still, fundamental tensions between the US and China "are unlikely to go away and there is a high likelihood that any agreement to suspend tariffs eventually breaks down when it becomes clear that Trump’s objectives cannot really be met."

Some investors are also increasingly wary of lingering disputes in Washington over a wall Trump wants on the U.S.-Mexico border, which has led to a weeks-long partial government shutdown.

Flanked by border agents who are going without paychecks during the shutdown, Trump again threatened on Thursday to declare a national emergency to bypass Congress to fund a wall.

In the foreign exchange markets, the dollar was broadly soft after a small rebound from three-month lows the previous day.

The dollar index, measuring it against major peers, dipped 0.1 per cent to 95.38.

The euro firmed 0.2 per cent to $1.1523, while the dollar dipped 0.1 per cent to 108.28 yen.

The yuan, both onshore and offshore, climbed to the highest levels since late July, aided by a weaker dollar and rising hopes of progress in the US-China talks.

In onshore trade, the Chinese currency has risen 1.6 per cent this week, the biggest gain since July 2005 when Beijing abandoned the yuan's peg to the dollar.

US Treasury debt prices erased early gains after a soft 30-year bond auction and in reaction to Powell's comments on the Fed "substantially" reducing the size of its balance sheet.

The 10-year US Treasuries yield last stood at 2.728 per cent.

Crude prices held near one-month highs, but a more than week-long in oil rally slowed as optimism surrounding US-China trade talks faded a little.

In Asian trade, West Texas Intermediate crude futures slipped 0.6 per cent to $52.30 per barrel.

Asian stocks inched up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels.

Asian stocks inched up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Washington and Beijing are moving to higher levels. As the Fed's dovish stance kept a lid on the dollar, China's yuan rose to its highest levels in more than five months and was on course for its biggest weekly gains since the 2005 revaluation in onshore trade. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent to the highest levels since December 6, while Japan's benchmark Nikkei advanced 0.7 per cent. Shanghai Composite Index initially rose 0.8 per cent, but that was pared to just 0.1 per cent. Wall Street extended its rally into a fifth straight day on Thursday in a whipsaw trading session as investors responded to mixed comments by Powell, while a warning from Macy's pummelled retail stocks. At the Economic Club of Washington, Powell reiterated the views of other policymakers that the Fed would be patient about interest rate hikes. Major US stock indexes also quickly recovered from brief losses after Powell said that the Fed's balance sheet would be "substantially smaller". "The word 'patient' is used often when the Fed's policy direction is still tightening but its next rate hike can wait for a considerable time. So risk assets now enjoy support from what we can call Powell put," said Tomoaki Shishido, economist at Nomura Securities. "Similarly, Trump also softened his stance on China after sharp falls in stock prices. He has offered an olive branch to China and there's no reason China would not want to accept it," he said. US and Chinese officials are working on arrangements for higher-level trade talks after mid-level officials this week discussed US demands that would require structural change in China to address issues such as IP theft, forced technology transfers and other non-tariff barriers. US Treasury Secretary Steven Mnuchin said late on Thursday that Chinese Vice Premier Liu He will "most likely" visit Washington later in January for trade talks. "For markets the upshot is that the outlook for 2019 is looking better as tensions de-escalate, creating the potential for a re-rating of risk assets as the tail risk of a near-term trade war is partially priced out," said Jeremy Lawson, chief economist at Aberdeen Standard Investments in Edinburgh. "This is especially the case in Asia," he added. Still, fundamental tensions between the US and China "are unlikely to go away and there is a high likelihood that any agreement to suspend tariffs eventually breaks down when it becomes clear that Trump’s objectives cannot really be met." Some investors are also increasingly wary of lingering disputes in Washington over a wall Trump wants on the U.S.-Mexico border, which has led to a weeks-long partial government shutdown. Flanked by border agents who are going without paychecks during the shutdown, Trump again threatened on Thursday to declare a national emergency to bypass Congress to fund a wall. In the foreign exchange markets, the dollar was broadly soft after a small rebound from three-month lows the previous day. The dollar index, measuring it against major peers, dipped 0.1 per cent to 95.38. The euro firmed 0.2 per cent to $1.1523, while the dollar dipped 0.1 per cent to 108.28 yen. The yuan, both onshore and offshore, climbed to the highest levels since late July, aided by a weaker dollar and rising hopes of progress in the US-China talks. In onshore trade, the Chinese currency has risen 1.6 per cent this week, the biggest gain since July 2005 when Beijing abandoned the yuan's peg to the dollar. US Treasury debt prices erased early gains after a soft 30-year bond auction and in reaction to Powell's comments on the Fed "substantially" reducing the size of its balance sheet. The 10-year US Treasuries yield last stood at 2.728 per cent. Crude prices held near one-month highs, but a more than week-long in oil rally slowed as optimism surrounding US-China trade talks faded a little. In Asian trade, West Texas Intermediate crude futures slipped 0.6 per cent to $52.30 per barrel.

Global Markets: Asia stocks reach five-week high, yuan makes big weekly gains

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data.

While Europe was higher on the day with a small recovery after three sessions of heavy losses, the trade standoff between Washington and Beijing was still a major lingering worry for investors.

"Volatility is high and investors are twitchy. It has been a dreadful week for European markets, and today’s positive move can`t mask the previous losses," said David Madden, market analyst at CMC Markets UK.

The pan-European STOXX 600 index rose 0.62 per cent, while an index of London`s 100 largest listed companies rose 1.1 per cent.

The Dow Jones Industrial Average fell 558.72 points, or 2.24 per cent, to 24,388.95, the S&amp;P 500 lost 62.87 points, or 2.33 per cent, to 2,633.08 and the Nasdaq Composite dropped 219.01 points, or 3.05 per cent, to 6,969.25.

Wall Street saw its biggest weekly losses since March, led by declines in big internet and technology shares.&nbsp;

The fall was a reversal from earlier in the day, when stocks were higher on US&nbsp;labor data that showed employers hired fewer workers than expected in November.

That supported a view that US growth is moderating and the Federal Reserve may stop raising rates sooner than previously thought.

Nonfarm payrolls increased by 155,000 last month, but missed economists` expectation for a rise of 200,000.

"It is still consistent with the Fed raising short-term interest rates, said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "But I think the main theme here is that investors are expecting the Fed to be even more gradual, a little bit more cautious, in raising interest rates in 2019."

Oil climbed after big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market.&nbsp;

US crude rose 1.42 per cent to $52.22 per barrel and Brent was last at $61.39, up 2.21 per cent on the day.&nbsp;

MSCI`s gauge of stocks across the globe shed 1.11 per cent.

Stock markets around the world tumbled on Thursday after Canadian officials announced the Dec. 1 arrest of the chief financial officer of Chinese smartphone maker Huawei for extradition to the United States. The arrest was seen as an added threat to the resolution of a trade war between the world`s top two economies.

Also contributing to this week`s sell-off were rising concerns about a US economic slowdown signaled by a flattening Treasury yield curve.

The front half of the yield curve remained inverted after two-year and three-year yields rose above five-year yields for the first time in over a decade earlier this week.

That inversion has stoked speculation about whether a US recession is looming.&nbsp;

The US dollar weakened against major currencies after the US jobs data.

The dollar index, which tracks the greenback against a basket of six other currencies, fell 0.17 per cent, with the euro up 0.24 per cent to $1.1401.

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data.

Concerns over China-US trade tensions gave European shares their worst week of losses in two months and sank US stocks on Friday, overshadowing the lift from higher oil prices and jobs data. While Europe was higher on the day with a small recovery after three sessions of heavy losses, the trade standoff between Washington and Beijing was still a major lingering worry for investors. "Volatility is high and investors are twitchy. It has been a dreadful week for European markets, and today’s positive move can`t mask the previous losses," said David Madden, market analyst at CMC Markets UK. The pan-European STOXX 600 index rose 0.62 per cent, while an index of London`s 100 largest listed companies rose 1.1 per cent. The Dow Jones Industrial Average fell 558.72 points, or 2.24 per cent, to 24,388.95, the S&P 500 lost 62.87 points, or 2.33 per cent, to 2,633.08 and the Nasdaq Composite dropped 219.01 points, or 3.05 per cent, to 6,969.25. Wall Street saw its biggest weekly losses since March, led by declines in big internet and technology shares. The fall was a reversal from earlier in the day, when stocks were higher on US labor data that showed employers hired fewer workers than expected in November. That supported a view that US growth is moderating and the Federal Reserve may stop raising rates sooner than previously thought. Nonfarm payrolls increased by 155,000 last month, but missed economists` expectation for a rise of 200,000. "It is still consistent with the Fed raising short-term interest rates, said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "But I think the main theme here is that investors are expecting the Fed to be even more gradual, a little bit more cautious, in raising interest rates in 2019." Oil climbed after big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market. US crude rose 1.42 per cent to $52.22 per barrel and Brent was last at $61.39, up 2.21 per cent on the day. MSCI`s gauge of stocks across the globe shed 1.11 per cent. Stock markets around the world tumbled on Thursday after Canadian officials announced the Dec. 1 arrest of the chief financial officer of Chinese smartphone maker Huawei for extradition to the United States. The arrest was seen as an added threat to the resolution of a trade war between the world`s top two economies. Also contributing to this week`s sell-off were rising concerns about a US economic slowdown signaled by a flattening Treasury yield curve. The front half of the yield curve remained inverted after two-year and three-year yields rose above five-year yields for the first time in over a decade earlier this week. That inversion has stoked speculation about whether a US recession is looming. The US dollar weakened against major currencies after the US jobs data. The dollar index, which tracks the greenback against a basket of six other currencies, fell 0.17 per cent, with the euro up 0.24 per cent to $1.1401.

Global shares mixed as trade worries loom; oil surges

Shares in India's state-owned oil marketing companies slumped more than 20 per cent to multi-year lows on Friday, a day after the government announced a cut in fuel prices that is expected to hit the state and the oil marketers.

The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government.

Petrol prices were regulated until 2012, while diesel prices remained so until 2014.

The government on Thursday announced a 2.50 rupees-per-litre cut in the prices of gasoline and diesel to reduce the burden on the Indian masses from a sharp rise in crude oil prices and a weak local currency that have pushed prices at fuel pumps to all-time highs.

The price cut involved a reduction in excise duty of 1.50 per litre by the government and a further cut of 1 rupee per litre by the state-owned oil marketing companies - Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd.

"The current decision could have an impact on the margins of the OMCs although one has to wait and see what course the government takes with a further fall in rupee and rise in crude prices," said Gagan Dixit, a senior oil and gas analyst at Elara Capital in Mumbai.

The price cut also hurts private fuel marketers - Nayara Energy owned by Russian oil giant Rosneft which owns close to 5,000 fuel outlets in the country and Mukesh Ambani-owned Reliance Industries Ltd which owns 1,325 outlets as they would also be forced to sell fuel at a loss to compete with the state-owned companies.

India`s Bombay Stock Exchange (BSE) oil and gas index has fallen by over 15 per cent by 0523 GMT.

Shares in India's state-owned oil marketing companies slumped more than 20 per cent to multi-year lows on Friday, a day after the government announced a cut in fuel prices that is expected to hit the state and the oil marketers.

Shares in India's state-owned oil marketing companies slumped more than 20 per cent to multi-year lows on Friday, a day after the government announced a cut in fuel prices that is expected to hit the state and the oil marketers. The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government. Petrol prices were regulated until 2012, while diesel prices remained so until 2014. The government on Thursday announced a 2.50 rupees-per-litre cut in the prices of gasoline and diesel to reduce the burden on the Indian masses from a sharp rise in crude oil prices and a weak local currency that have pushed prices at fuel pumps to all-time highs. The price cut involved a reduction in excise duty of 1.50 per litre by the government and a further cut of 1 rupee per litre by the state-owned oil marketing companies - Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd. "The current decision could have an impact on the margins of the OMCs although one has to wait and see what course the government takes with a further fall in rupee and rise in crude prices," said Gagan Dixit, a senior oil and gas analyst at Elara Capital in Mumbai. The price cut also hurts private fuel marketers - Nayara Energy owned by Russian oil giant Rosneft which owns close to 5,000 fuel outlets in the country and Mukesh Ambani-owned Reliance Industries Ltd which owns 1,325 outlets as they would also be forced to sell fuel at a loss to compete with the state-owned companies. India`s Bombay Stock Exchange (BSE) oil and gas index has fallen by over 15 per cent by 0523 GMT.

India's oil marketing shares slump after fuel price cut

Shares ended lower on Tuesday, snapping three sessions of gains, with lenders such as ICICI Bank Ltd and State Bank of India weighing on the indexes.

BSE Sensex closed 216.24 points lower at 34,949.24, while the Nifty 50 ended 55.35 points down at 10,633.30.&nbsp

Nifty bank index ended 1.4 percent lower and the Nifty PSU bank index dropped 2.95 percent.

Among the sectoral indices on BSE, oil and gas, IT, auto and telecom gained, while bankex, finance, realty and consumer durables declined most. On NSE, Nifty PSU Bank Index was down 2.95%. Mahindra, Bharti Airtel, Infosys and TCS were top gainers, whereas ICICI Bank, SBI, IndusInd Bank and Yes Bank were among the major losers.

On NSE, Nifty PSU Bank Index was down 2.95%. Mahindra, Bharti Airtel, Infosys and TCS were top gainers, whereas ICICI Bank, SBI, IndusInd Bank and Yes Bank were among the major losers.

Shares ended lower on Tuesday, snapping three sessions of gains, with lenders such as ICICI Bank Ltd and State Bank of India weighing on the indexes. BSE Sensex closed 216.24 points lower at 34,949.24, while the Nifty 50 ended 55.35 points down at 10,633.30. Nifty bank index ended 1.4 percent lower and the Nifty PSU bank index dropped 2.95 percent. Among the sectoral indices on BSE, oil and gas, IT, auto and telecom gained, while bankex, finance, realty and consumer durables declined most. On NSE, Nifty PSU Bank Index was down 2.95%. Mahindra, Bharti Airtel, Infosys and TCS were top gainers, whereas ICICI Bank, SBI, IndusInd Bank and Yes Bank were among the major losers.

Sensex slips below 35,000, Nifty settles at 10,633 due to banking stocks

The BSE Sensex slipped almost 61 points in opening trade today on heavy selling in metals, realty, energy and auto stocks amid sustained capital outflows by foreign funds.

Asian shares drifted lower after US President Donald Trump said he was not satisfied with bilateral trade talks with China that occurred last week.&nbsp

Meanwhile, China announced on Tuesday that it would reduce tariffs on some vehicles to 15 per cent from as much as 25 per cent. Tariffs on certain automotive parts would also be cut.

The rupee deprecating against the dollar also dampened sentiment.

The 30-share index dropped 60.79 points or 0.17 per cent to 34,590.45. The gauge had gained 35.11 points in the previous session.

In similar fashion, the NSE Nifty fell 19.80 points, or 0.18 per cent to 10,516.90.

Sectoral indices led by metal, realty, oil and gas and auto were trading in the negative zone, falling up to 1.29 per cent.

Major losers were Tata Steel, IndusInd Bank, Dr Reddy's, Hero Motocorp, M&M, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Asian Paints, Adani Ports, Bharti Airtel, Kotak Bank, HDFC Bank, Wipro, ONGC and RIL, falling up to 2.45 per cent.

Brokers said sentiment remained weak in the absence of any positive trigger amid sustained capital outflows.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,651.63 crore while domestic institutional investors (DIIs) bought shares worth Rs 1,496.83 crore yesterday, as per provisional data.

In the Asian region, Japan's Nikkei fell 1.08 per cent and Hong Kong's Hang Seng shed 1.08 per cent in early trade. China's Shanghai Composite index too was down 0.89 per cent.

The Dow Jones Industrial Average ended 0.72 per cent lower in yesterday's trade as uncertainty over trade policy and other geopolitical issues weighed on sentiment.&nbsp

There was heavy selling in metals, realty, energy and auto stocks

The BSE Sensex slipped almost 61 points in opening trade today on heavy selling in metals, realty, energy and auto stocks amid sustained capital outflows by foreign funds. Asian shares drifted lower after US President Donald Trump said he was not satisfied with bilateral trade talks with China that occurred last week. Meanwhile, China announced on Tuesday that it would reduce tariffs on some vehicles to 15 per cent from as much as 25 per cent. Tariffs on certain automotive parts would also be cut. The rupee deprecating against the dollar also dampened sentiment. The 30-share index dropped 60.79 points or 0.17 per cent to 34,590.45. The gauge had gained 35.11 points in the previous session. In similar fashion, the NSE Nifty fell 19.80 points, or 0.18 per cent to 10,516.90. Sectoral indices led by metal, realty, oil and gas and auto were trading in the negative zone, falling up to 1.29 per cent. Major losers were Tata Steel, IndusInd Bank, Dr Reddy's, Hero Motocorp, M&M, HDFC Ltd, Maruti Suzuki, Bajaj Auto, Asian Paints, Adani Ports, Bharti Airtel, Kotak Bank, HDFC Bank, Wipro, ONGC and RIL, falling up to 2.45 per cent. Brokers said sentiment remained weak in the absence of any positive trigger amid sustained capital outflows. Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,651.63 crore while domestic institutional investors (DIIs) bought shares worth Rs 1,496.83 crore yesterday, as per provisional data. In the Asian region, Japan's Nikkei fell 1.08 per cent and Hong Kong's Hang Seng shed 1.08 per cent in early trade. China's Shanghai Composite index too was down 0.89 per cent. The Dow Jones Industrial Average ended 0.72 per cent lower in yesterday's trade as uncertainty over trade policy and other geopolitical issues weighed on sentiment.

Sensex slips 61 points in opening trade

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was <a href="http://www.wionews.com/india-news/live-natak-in-karnataka-continues-both-sides-to-meet-governor-mlas-report-poaching-attempts-137278">sworn in</a> as the chief minister of Karnataka.

Unabated buying by domestic institutional investors set the tone, brokers said.

BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.

The 30-share Sensex bounced 122.13 points, or 0.34 per cent, to 35,510.01. It had lost 168.83 points in the previous two sessions.

All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green.

The NSE Nifty also jumped 36.15 points, or 0.33 per cent, to 10,777.25.

Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent.

Tata Steel, however, fell 0.83 per cent despite the company yesterday reporting a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, 2018.

Domestic institutional investors (DIIs) bought shares worth a net Rs 229.06 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 699.22 crore yesterday, as per provisional data.

In the rest of Asia, Japan's Nikkei rose 0.44 per cent, Hong Kong's Hang Seng inched up 0.01 per cent, while Shanghai Composite Index shed 0.35 per cent in early deals.

The US Dow Jones Industrial Average ended 0.25 per cent higher yesterday as retailers results and solid economic data boosted confidence in the American economy.&nbsp

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was sworn in as the chief minister of Karnataka

Snapping a two-day falling streak, benchmark stock indices opened on a positive note today after BJP's BS Yeddyurappa was sworn in as the chief minister of Karnataka. Unabated buying by domestic institutional investors set the tone, brokers said. BJP legislature party leader B S Yeddyurappa was today sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court. The 30-share Sensex bounced 122.13 points, or 0.34 per cent, to 35,510.01. It had lost 168.83 points in the previous two sessions. All the sectoral indices, led by consumer durables, realty, metal, power and banking, were in the green. The NSE Nifty also jumped 36.15 points, or 0.33 per cent, to 10,777.25. Major movers in the Sensex kitty included Coal India, Power Grid, Wipro, SBI, Kotak Bank, Sun Pharma, ICICI Bank, TCS, Infosys, M&M, L&T and Maruti Suzuki, rising up to 1.79 per cent. Tata Steel, however, fell 0.83 per cent despite the company yesterday reporting a consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, 2018. Domestic institutional investors (DIIs) bought shares worth a net Rs 229.06 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 699.22 crore yesterday, as per provisional data. In the rest of Asia, Japan's Nikkei rose 0.44 per cent, Hong Kong's Hang Seng inched up 0.01 per cent, while Shanghai Composite Index shed 0.35 per cent in early deals. The US Dow Jones Industrial Average ended 0.25 per cent higher yesterday as retailers results and solid economic data boosted confidence in the American economy.

Sensex climbs 122 points after Yeddyurappa is sworn in

The BSE Sensex rebounded by about 290 points today, while the Nifty retook the 10,800-mark on robust buying in metal, banking, capital goods and energy stocks.

A firm trend at other Asian markets and positive opening of European shares, tracking overnight gains at the Wall Street, also bolstered sentiments, brokers said.

The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 35,596.15 before finishing at 35,535.79 -- a rise of 289.52 points, or 0.82 per cent.

The broader NSE Nifty scaled a high of 10,812.05 before closing 89.95 points, or 0.84 per cent, higher at 10,806.50.

On a weekly basis, the Sensex gained 620.41 points, or 1.78 per cent, while the Nifty advanced 188.25 points, or 1.77 per cent.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 364.88 crore yesterday, as per provisional data. PTI&nbsp

The rise was pushed by robust buying in metal, banking, capital goods and energy stocks

The BSE Sensex rebounded by about 290 points today, while the Nifty retook the 10,800-mark on robust buying in metal, banking, capital goods and energy stocks. A firm trend at other Asian markets and positive opening of European shares, tracking overnight gains at the Wall Street, also bolstered sentiments, brokers said. The BSE Sensex stayed in the positive terrain throughout the session and hit a high of 35,596.15 before finishing at 35,535.79 -- a rise of 289.52 points, or 0.82 per cent. The broader NSE Nifty scaled a high of 10,812.05 before closing 89.95 points, or 0.84 per cent, higher at 10,806.50. On a weekly basis, the Sensex gained 620.41 points, or 1.78 per cent, while the Nifty advanced 188.25 points, or 1.77 per cent. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 364.88 crore yesterday, as per provisional data. PTI

Sensex surges 290 pts, Nifty tops 10,800-mark

Rising for the third straight session, the BSE Sensex advanced by 103 points to end at 35,319.35 today as healthy buying in frontline stocks offset lacklustre global cues.

IT counters spurted after the rupee hit fresh 15-month lows against the US dollar.&nbsp

The 30-share barometer opened weak and hit a low of 35,134.20 on profit-booking in recent gainers amid sustained outflows by foreign funds.

However, it soon recovered to touch the day's high of 35,404.83, before finally ending at 35,319.35 -- up 103.03 points, or 0.29 per cent.

The index had risen 300.94 points in the past two sessions.

The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 23.90 points, or 0.22 per cent, higher at 10,741.70. Intra-day, it hovered between 10,689.85 and 10,766.25.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 923.25 crore while foreign institutional investors (FIIs) sold shares to the tune of Rs 97.15 crore in yesterday's trade, provisional data showed.&nbsp

Crude oil climbed to the highest level since late 2014 at USD 77.07 a barrel after US President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC member's crude exports in an already tight market.&nbsp

The Sensex ended at 35,319.35 as healthy buying in frontline stocks offset lacklustre global cues

Rising for the third straight session, the BSE Sensex advanced by 103 points to end at 35,319.35 today as healthy buying in frontline stocks offset lacklustre global cues. IT counters spurted after the rupee hit fresh 15-month lows against the US dollar. The 30-share barometer opened weak and hit a low of 35,134.20 on profit-booking in recent gainers amid sustained outflows by foreign funds. However, it soon recovered to touch the day's high of 35,404.83, before finally ending at 35,319.35 -- up 103.03 points, or 0.29 per cent. The index had risen 300.94 points in the past two sessions. The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 23.90 points, or 0.22 per cent, higher at 10,741.70. Intra-day, it hovered between 10,689.85 and 10,766.25. Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 923.25 crore while foreign institutional investors (FIIs) sold shares to the tune of Rs 97.15 crore in yesterday's trade, provisional data showed. Crude oil climbed to the highest level since late 2014 at USD 77.07 a barrel after US President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC member's crude exports in an already tight market.

Sensex ends higher for third day, up 103 points

After being vehemently open about Tesla's recent stocks, the CEO of the company, Elon Musk, has bought around $10 million worth of Tesla's stocks on Tuesday, reports said.&nbsp;

He has been quite vocal about the fact that people who had been betting against the company on the stock market will soon 'burn' - meaning that he predicts short sellers will rush to exit their position as Tesla’s stock price increases.&nbsp;

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Oh and uh short burn of the century comin soon. Flamethrowers should arrive just in time.
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/992388944774938626?ref_src=twsrc%5Etfw">May 4, 2018</a></blockquote>
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This has been Musk's biggest purchase since March 2017. Musk, 46, already was Tesla’s largest shareholder, and his stake is now approaching 20 per cent, as per reports.

The purchases were made indirectly via a trust. He now owns 33,665,421 shares.&nbsp;

The last time Musk purchased shares in March 2017, he bought $25 million in Tesla stock for $262 a share.&nbsp;

The company has been having a hard time and hasn’t earned an annual profit in its 15-year history and has blazed through more than $1 billion in cash during three of the last four quarters.

Tesla shares closed up 3% to $302.77 yesterday, although the stock is still down 2.8% for the year.

The purchases were made indirectly via a trust. He now owns 33,665,421 shares

After being vehemently open about Tesla's recent stocks, the CEO of the company, Elon Musk, has bought around $10 million worth of Tesla's stocks on Tuesday, reports said. He has been quite vocal about the fact that people who had been betting against the company on the stock market will soon 'burn' - meaning that he predicts short sellers will rush to exit their position as Tesla’s stock price increases. Oh and uh short burn of the century comin soon. Flamethrowers should arrive just in time. — Elon Musk (@elonmusk) May 4, 2018 × This has been Musk's biggest purchase since March 2017. Musk, 46, already was Tesla’s largest shareholder, and his stake is now approaching 20 per cent, as per reports. The purchases were made indirectly via a trust. He now owns 33,665,421 shares. The last time Musk purchased shares in March 2017, he bought $25 million in Tesla stock for $262 a share. The company has been having a hard time and hasn’t earned an annual profit in its 15-year history and has blazed through more than $1 billion in cash during three of the last four quarters. Tesla shares closed up 3% to $302.77 yesterday, although the stock is still down 2.8% for the year.

Elon Musk buys Tesla shares worth $10 million, warns people of 'short burn of the century'

Stocks weathered yet another choppy session today to end with modest gains as participants chose to book profits amid elevated global crude oil prices and geopolitical uncertainties.

ICICI Bank was the star performer in today's session, comfortably topping the gainers' list by surging nearly 7 per cent.

The private sector lender on Monday reported a 45 per cent drop in March quarter net profit following a spike in bad loans due to changes in asset classification norms.

However, investors took heart from the management's commentary that the bulk of the bad loans problem is behind it and the focus now shifts to recoveries and resolution, brokers said.&nbsp

Global crude oil prices hovered above the USD 75 per barrel mark on uncertainties over the US re-imposing sanctions on Iran, fanning fears of a supply disruption.

The 30-share Sensex opened positive and advanced to the session's high of 35,388.87. However, profit-booking by investors ahead of Karnataka elections this week trimmed the gains, with the gauge sinking to the day's low of 35,136.01.

It finally settled 8.18 points or 0.02 per cent higher at 35,216.32. 
 
The NSE Nifty, after hitting a high of 10,758.55, closed at 10,717.80, up just 2.30 points, or 0.02 per cent. It touched a low of 10,689.40 intra-day.

Meanwhile, domestic institutional investors (DIIs) net bought shares worth Rs 1,037.23 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 635.24 crore yesterday, provisional data showed.

"Market turned volatile as investors are concerned on the movement of rupee and surge in oil price which could eventually lead to tight monetary policy.&nbsp

"Albeit, banks outperformed as sentiment improved on account of early recognition of stressed assets. Continued outflow of foreign money will keep rupee on tenterhook while increasing GST collection and RBIs open market operation may soften the volatility," said Vinod Nair, Head of Research, Geojit Financial Services.

In the Sensex pack, ICICI Bank emerged on top with a rise of 6.86 per cent, followed by SBI 1.42 per cent and Axis Bank 1.18 per cent.

Other winners were Power Grid 1.14 per cent, Bharti Airtel 0.69 per cent, NTPC 0.47 per cent, TCS 0.39 per cent, Maruti Suzuki 0.37 per cent, Coal India 0.34 per cent, Adani Port 0.29 per cent, ITC 0.16 per cent, Dr

Reddy's 0.15 per cent and HUL 0.13 per cent.

On the other hand, M&M fell 2.26 per cent, IndusInd Bank 1.78 per cent, L&T 1.70 per cent, Infosys 1.52 per cent, Yes Bank 1.19 per cent, Tata Motors 0.88 per cent, Bajaj Auto 0.87 per cent, HDFC Bank 0.75 per cent,

Wipro 0.67 per cent, Asian Paints 0.60 per cent, HDFC 0.48 per cent, RIL 0.43 per cent, Sun Pharma O.40 per cent, ONGC 0.35 per cent and Kotak Mahindra Bank 0.25 per cent.

Sector-wise, bankex index spurted 1.32 per cent, followed by realty 1.06 per cent, PSU by 0.80 per cent, oil and gas 0.36 per cent, FMCG 0.19 per cent and Power 0.17 per cent.

However, capital goods slipped 0.85 per cent, consumer durables 0.81 per cent, teck 0.57 per cent, IT 0.53 per cent, auto 0.42 per cent, infrastructure 0.19 per cent, healthcare 0.18 per cent and metal 0.16 per cent.

Broader markets showed a mixed trend. The S&P BSE Small-Cap index inched up 0.10 per cent while the mid-cap index shed 0.10 per cent.

Asian markets closed mostly higher following firm leads from Wall Street overnight.

However, European shares opened broadly flat as investors prepared for President Donald Trump's decision on whether to withdraw the US from the Iran nuclear deal.

Brent crude futures, the international benchmark for oil prices, shed 0.85 per cent to USD 75.52 a barrel.

Hong Kong's Hang Seng rose 1.36 per cent, Shanghai Composite Index gained 0.79 per cent and Japan's Nikkei ended 0.18 per cent higher.

In Europe, Paris CAC declined 0.42 per cent, while Frankfurt's DAX traded lower by 0.44 per cent in early deals. London's FTSE, however, was up 0.08 per cent. PTI

ICICI Bank was the star performer in today's session, comfortably topping the gainers' list by surging nearly 7 per cent, despite announcing a 45% drop in Q4 profits on Monday

Stocks weathered yet another choppy session today to end with modest gains as participants chose to book profits amid elevated global crude oil prices and geopolitical uncertainties. ICICI Bank was the star performer in today's session, comfortably topping the gainers' list by surging nearly 7 per cent. The private sector lender on Monday reported a 45 per cent drop in March quarter net profit following a spike in bad loans due to changes in asset classification norms. However, investors took heart from the management's commentary that the bulk of the bad loans problem is behind it and the focus now shifts to recoveries and resolution, brokers said. Global crude oil prices hovered above the USD 75 per barrel mark on uncertainties over the US re-imposing sanctions on Iran, fanning fears of a supply disruption. The 30-share Sensex opened positive and advanced to the session's high of 35,388.87. However, profit-booking by investors ahead of Karnataka elections this week trimmed the gains, with the gauge sinking to the day's low of 35,136.01. It finally settled 8.18 points or 0.02 per cent higher at 35,216.32. The NSE Nifty, after hitting a high of 10,758.55, closed at 10,717.80, up just 2.30 points, or 0.02 per cent. It touched a low of 10,689.40 intra-day. Meanwhile, domestic institutional investors (DIIs) net bought shares worth Rs 1,037.23 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 635.24 crore yesterday, provisional data showed. "Market turned volatile as investors are concerned on the movement of rupee and surge in oil price which could eventually lead to tight monetary policy. "Albeit, banks outperformed as sentiment improved on account of early recognition of stressed assets. Continued outflow of foreign money will keep rupee on tenterhook while increasing GST collection and RBIs open market operation may soften the volatility," said Vinod Nair, Head of Research, Geojit Financial Services. In the Sensex pack, ICICI Bank emerged on top with a rise of 6.86 per cent, followed by SBI 1.42 per cent and Axis Bank 1.18 per cent. Other winners were Power Grid 1.14 per cent, Bharti Airtel 0.69 per cent, NTPC 0.47 per cent, TCS 0.39 per cent, Maruti Suzuki 0.37 per cent, Coal India 0.34 per cent, Adani Port 0.29 per cent, ITC 0.16 per cent, Dr Reddy's 0.15 per cent and HUL 0.13 per cent. On the other hand, M&M fell 2.26 per cent, IndusInd Bank 1.78 per cent, L&T 1.70 per cent, Infosys 1.52 per cent, Yes Bank 1.19 per cent, Tata Motors 0.88 per cent, Bajaj Auto 0.87 per cent, HDFC Bank 0.75 per cent, Wipro 0.67 per cent, Asian Paints 0.60 per cent, HDFC 0.48 per cent, RIL 0.43 per cent, Sun Pharma O.40 per cent, ONGC 0.35 per cent and Kotak Mahindra Bank 0.25 per cent. Sector-wise, bankex index spurted 1.32 per cent, followed by realty 1.06 per cent, PSU by 0.80 per cent, oil and gas 0.36 per cent, FMCG 0.19 per cent and Power 0.17 per cent. However, capital goods slipped 0.85 per cent, consumer durables 0.81 per cent, teck 0.57 per cent, IT 0.53 per cent, auto 0.42 per cent, infrastructure 0.19 per cent, healthcare 0.18 per cent and metal 0.16 per cent. Broader markets showed a mixed trend. The S&P BSE Small-Cap index inched up 0.10 per cent while the mid-cap index shed 0.10 per cent. Asian markets closed mostly higher following firm leads from Wall Street overnight. However, European shares opened broadly flat as investors prepared for President Donald Trump's decision on whether to withdraw the US from the Iran nuclear deal. Brent crude futures, the international benchmark for oil prices, shed 0.85 per cent to USD 75.52 a barrel. Hong Kong's Hang Seng rose 1.36 per cent, Shanghai Composite Index gained 0.79 per cent and Japan's Nikkei ended 0.18 per cent higher. In Europe, Paris CAC declined 0.42 per cent, while Frankfurt's DAX traded lower by 0.44 per cent in early deals. London's FTSE, however, was up 0.08 per cent. PTI

Markets end flat as investors pocket gains; ICICI Bank shines

Shares of ICICI Bank surged nearly 9 per cent today even as the company posted 45 per cent decline in consolidated net profit for March quarter.

The stock shrugged off the disappointing numbers to open the day on a positive note and further soared 8.67 per cent to Rs 314.50 as the trade progressed on BSE.

At NSE, shares of the company jumped 8.52 per cent to Rs 314.50. 
The stock was the biggest gainer on both Sensex and Nifty during the morning trade.

ICICI Bank yesterday posted 45 per cent decline in consolidated net profit to Rs 1,142 crore for three months to March as bad loans surged.

The leading private sector lender had a consolidated profit of Rs 2,083 crore in January-March, 2016-17.

Total income on a consolidated basis rose to Rs 33,760 crore as against Rs 28,603 crore.

On the standalone basis, the bank recorded 50 per cent fall in net profit at Rs 1,020 crore in the reported quarter. In the year-ago period, the same stood at Rs 2,025 crore.

Gross non-performing assets (NPA) of the bank rose to 8.84 per cent as a percentage of gross advances at the end of March, compared to 7.89 per cent a year ago.&nbsp

ICICI Bank yesterday posted 45 per cent decline in consolidated net profit to Rs 1,142 crore for three months to March as bad loans surged.

Shares of ICICI Bank surged nearly 9 per cent today even as the company posted 45 per cent decline in consolidated net profit for March quarter. The stock shrugged off the disappointing numbers to open the day on a positive note and further soared 8.67 per cent to Rs 314.50 as the trade progressed on BSE. At NSE, shares of the company jumped 8.52 per cent to Rs 314.50. The stock was the biggest gainer on both Sensex and Nifty during the morning trade. ICICI Bank yesterday posted 45 per cent decline in consolidated net profit to Rs 1,142 crore for three months to March as bad loans surged. The leading private sector lender had a consolidated profit of Rs 2,083 crore in January-March, 2016-17. Total income on a consolidated basis rose to Rs 33,760 crore as against Rs 28,603 crore. On the standalone basis, the bank recorded 50 per cent fall in net profit at Rs 1,020 crore in the reported quarter. In the year-ago period, the same stood at Rs 2,025 crore. Gross non-performing assets (NPA) of the bank rose to 8.84 per cent as a percentage of gross advances at the end of March, compared to 7.89 per cent a year ago.

ICICI Bank shares soar nearly 9% post Q4 results

The BSE Sensex surged 293 points today to close at an over three-month high of 35,208.14 while the broader Nifty recaptured the 10,700-mark as investors piled into recently-battered metal, energy, realty and banking stocks amid mixed global cues.

Fresh buying by domestic institutional investors added to the momentum.&nbsp

The BSE benchmark Sensex opened higher at 34,983.59 and hovered in a range of 35,259.81 to 34,977.74 before finishing at 35,208.14, showing a gain of 292.76 points or 0.84 per cent.&nbsp

This is its highest closing since February 1, 2018, when it had finished at 35,906.66.

The gauge had lost 261.04 points in the previous two sessions.

The NSE 50-share Nifty also gained 97.25 points, or 0.92 per cent, to 10,715.50 after shuttling between 10,725.65 and 10,635.65.

Meanwhile, domestic institutional investors bought shares worth a net Rs 1,084.09 crore, while foreign portfolio investors sold shares worth Rs 1,628.23 crore on Friday, provisional data showed.

Asian markets ended mixed despite a strong closing on Wall Street as investors digested last week's trade talks between the US and China, while US jobs data eased fears of faster rate hike by the Federal Reserve.

However, US crude topped the USD 75 mark for the first time since 2014. Crude oil prices rose by 0.75 per cent to USD 75.43 a barrel.&nbsp

The Nifty closed over the 10,700 mark. Fresh buying by domestic institutional investors added to the momentum

The BSE Sensex surged 293 points today to close at an over three-month high of 35,208.14 while the broader Nifty recaptured the 10,700-mark as investors piled into recently-battered metal, energy, realty and banking stocks amid mixed global cues. Fresh buying by domestic institutional investors added to the momentum. The BSE benchmark Sensex opened higher at 34,983.59 and hovered in a range of 35,259.81 to 34,977.74 before finishing at 35,208.14, showing a gain of 292.76 points or 0.84 per cent. This is its highest closing since February 1, 2018, when it had finished at 35,906.66. The gauge had lost 261.04 points in the previous two sessions. The NSE 50-share Nifty also gained 97.25 points, or 0.92 per cent, to 10,715.50 after shuttling between 10,725.65 and 10,635.65. Meanwhile, domestic institutional investors bought shares worth a net Rs 1,084.09 crore, while foreign portfolio investors sold shares worth Rs 1,628.23 crore on Friday, provisional data showed. Asian markets ended mixed despite a strong closing on Wall Street as investors digested last week's trade talks between the US and China, while US jobs data eased fears of faster rate hike by the Federal Reserve. However, US crude topped the USD 75 mark for the first time since 2014. Crude oil prices rose by 0.75 per cent to USD 75.43 a barrel.

Sensex surges 293 points, closes over 35,000 mark

Twitter chief executive officer and co-founder Jack Dorsey declined all compensation for 2017 for running the micro-blogging platform.

The proxy statement released by Twitter reads, “As a testament to his commitment to and belief in Twitter’s long-term value creation potential, our CEO, Jack Dorsey, declined all compensation for 2017,” the company said in a proxy statement filed Wednesday with the SEC.&nbsp

It is the third year in a row Dorsey is turning down pay from Twitter.

However, Dorsey still owns equity in the company. As of April 2, he owns 18 million shares of Twitter.

The company's stock increased by 20 per cent at the beginning of this year. The company is current total worth was recorded at $589 million at Wednesday closing price.

Jack Dorsey's also owns Square which is mobile payment company where is annual salary was $2.75 and he reportedly owns 65.5 million shares.

The company is worth about $3.1 billion currently.

The proxy statement was released on Wednesday ahead of their stakeholders meeting scheduled for May 30.&nbsp

Twitter stakeholders will meet virtually through live audio broadcast. They will also to re-elect four directors to serve until 2021. 
&nbsp

It is the third year in a row Dorsey is turning down pay from Twitter

Twitter chief executive officer and co-founder Jack Dorsey declined all compensation for 2017 for running the micro-blogging platform. The proxy statement released by Twitter reads, “As a testament to his commitment to and belief in Twitter’s long-term value creation potential, our CEO, Jack Dorsey, declined all compensation for 2017,” the company said in a proxy statement filed Wednesday with the SEC. It is the third year in a row Dorsey is turning down pay from Twitter. However, Dorsey still owns equity in the company. As of April 2, he owns 18 million shares of Twitter. The company's stock increased by 20 per cent at the beginning of this year. The company is current total worth was recorded at $589 million at Wednesday closing price. Jack Dorsey's also owns Square which is mobile payment company where is annual salary was $2.75 and he reportedly owns 65.5 million shares. The company is worth about $3.1 billion currently. The proxy statement was released on Wednesday ahead of their stakeholders meeting scheduled for May 30. Twitter stakeholders will meet virtually through live audio broadcast. They will also to re-elect four directors to serve until 2021.

Twitter CEO Jack Dorsey declines salary for 2017

Rising for the fifth straight session, market benchmark Sensex gained 60 points to end at 33,940 in see-saw trade today, led by gains in metal, IT and consumer durables counters amid mixed Asian cues.

Sustained buying by domestic institutional investors (DIIs) and a mixed trend at other Asian bourses following overnight gains at the Wall Street helped key indices close in the positive zone, brokers said.

Investors are focusing on key macroeconomic data, including retail inflation and industrial production numbers due tomorrow and corporate results starting Friday.

The 30-share Sensex resumed higher and advanced to 33,981.54, but soon slipped on profit-taking to touch a low of 33,750.74, before settling up 60.19 points, or 0.18 per cent, at 33,940.44.

The gauge had gained 861.18 points in the previous four sessions.

The NSE 50-share index, after moving between 10,428.15 and 10,355.60 on alternate bouts of selling and buying, finally concluded at 10,417.15, up 14.90 points, or 0.14 per cent.

DIIs were net buyers as they bought shares worth Rs 653.65 crore yesterday, while foreign portfolio investors (FPIs) sold to the tune of Rs 684.99 crore, provisional data showed.&nbsp;

The Sensex gained 60 points to end at 33,940. The rise was led by gains in metal, IT and consumer durables

Rising for the fifth straight session, market benchmark Sensex gained 60 points to end at 33,940 in see-saw trade today, led by gains in metal, IT and consumer durables counters amid mixed Asian cues. Sustained buying by domestic institutional investors (DIIs) and a mixed trend at other Asian bourses following overnight gains at the Wall Street helped key indices close in the positive zone, brokers said. Investors are focusing on key macroeconomic data, including retail inflation and industrial production numbers due tomorrow and corporate results starting Friday. The 30-share Sensex resumed higher and advanced to 33,981.54, but soon slipped on profit-taking to touch a low of 33,750.74, before settling up 60.19 points, or 0.18 per cent, at 33,940.44. The gauge had gained 861.18 points in the previous four sessions. The NSE 50-share index, after moving between 10,428.15 and 10,355.60 on alternate bouts of selling and buying, finally concluded at 10,417.15, up 14.90 points, or 0.14 per cent. DIIs were net buyers as they bought shares worth Rs 653.65 crore yesterday, while foreign portfolio investors (FPIs) sold to the tune of Rs 684.99 crore, provisional data showed.

Volatile trade, but Sensex ends higher for fifth straight day

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