Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Mumbai"


25 mentions found


BENGALURU, June 14 (Reuters) - India’s retail inflation accelerated to 6.3% in May from a year ago, government data released on Monday showed. Rising crude prices and logistics costs have also led to higher prices, outweighing weaker demand pressures. The surge in inflation has been across all components including, food, fuel and core inflation. Inflation is definitely a concern and the RBI is likely to be perturbed by this. While the RBI will continue to focus on growth, it will have to finetune its inflation projection for FY22 sooner than later.”
Persons: SHASHANK MENDIRATTA, ” “, ” YUVIKA SINGHAL, ” RAJANI SINHA, KNIGHT FRANK INDIA, ” MADHAVI ARORA, ” SUJAN HAJRA, ANAND, ” KUNAL KUNDU, ” PRITHVIRAJ SRINIVAS, GARIMA KAPOOR, RUPA REGE, Organizations: IBM, NEW, Reserve Bank of, SOCIETE GENERALE, CPI Locations: BENGALURU, NEW DELHI, DELHI, WPI, MUMBAI, INDIA
Indian shares fall as Adani stocks weigh; CPI data eyed
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares on Monday retreated from record highs hit in the previous session, weighed down by Adani Group stocks, with investors awaiting consumer price inflation data (CPI) for May due later in the day. All Adani Group stocks, including Adani Enterprises Ltd and Adani Ports and Special Economic Zone Ltd, opened sharply lower after the Economic Times reported here that the National Securities Depository Ltd had frozen the accounts of three foreign funds that have a total investment of 435 billion rupees in Adani group companies. Investors now eye the CPI data, with a Reuters poll showing that the country’s retail inflation likely rose last month after a three-month low in April on higher food and energy prices. The central bank has assured that rising inflation will not last long enough to warrant a sooner-than-expected end to easy-money policies.
Persons: Francis Mascarenhas Organizations: REUTERS, Adani Group, BSE Sensex, Adani, Adani Enterprises, Economic, Ltd, Economic Times, National Securities Depository Ltd, Coal India, U.S Locations: Mumbai, India, BENGALURU, COVID, U.S . Federal
Indian shares end higher as Reliance gains; inflation data in focus
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day. The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close. In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%.
Persons: Francis Mascarenhas, Lupin Organizations: REUTERS, Reliance Industries Ltd, Infosys Ltd, BSE, Reliance Industries, Infosys, Reliance, Economic, Ltd, National Securities Depository Ltd, Economic Times, Adani Enterprises, U.S . Food, Drug Administration, U.S Locations: Mumbai, India, BENGALURU, U.S, New Jersey, U.S . Federal
Vaccine delivery and access are also challenges in rural areas due to the lack of infrastructure. Vaccinating India's rural populationIndia needs an efficient vaccine delivery plan will help those small towns and rural areas access vaccination centers more easily, according to Reddy. That includes setting up enough vaccination centers so that people won't have to travel long distances to get their shots. Many people in rural India also face a technological barrier: Registering to get vaccinated. "That is where the local governments would have to actually ensure that people are assisted in getting their registration done and going for the vaccination," Reddy said.
Persons: Sanchit Khanna, Srinath Reddy, Vaccinating, Reddy Organizations: Hindustan Times, Getty, Public Health Foundation of India, CNBC, International Monetary Fund Locations: New Delhi, India, Mumbai, Delhi, Pune
The early arrival of monsoon rains in central and northern India will help farmers accelerate sowing of summer-sown crops such as paddy rice, cotton, soybean and pulses, and may boost crop yields too. Monsoon arrived in the southern state of Kerala on June 3 against the usual June 1, but has advanced quickly since. Since the start of the season, the monsoon has delivered 25% more-than-normal rainfall, boosted by higher rainfall in the central India region, data compiled by IMD showed. Monsoon is crucial for India's $2.7-trillion economy, as it delivers nearly 70% of the rain needed by farms, besides replenishing reservoirs and aquifers. India is the world's biggest exporter of rice and top importer of edible oils such as palm oil, soyoil and sunflower oil.
Persons: Stringer, Monsoon Organizations: REUTERS, India Meteorological Department, IMD, Farmers, Thomson Locations: Indian, Bhubaneswar, India, Punjab, Kerala, Mumbai
Doctors in India say COVID-19 patients have unusual symptoms that could be due to the Delta variant. Doctors in India claim that the highly infectious Delta variant could cause unusual symptoms such as gangrene and hearing loss, which they say are becoming more common in COVID-19 patients of all ages. The highly infectious variant has spread to 67 countries and is becoming more common around the world. The Delta variant is estimated to be 60% more infectious than the Alpha variant that's currently the most common in the US. A Public Health England document from May reported the Pfizer and AstraZeneca vaccines were respectively 88% and 60% effective against the Delta variant after both doses.
Persons: Anthony Fauci, Joe Biden's, didn't, Ganesh Manudhane, Manudhane, Dr, Abdul Ghafur, hadn't, Anurag Agarwal, Agarwal, Neil Ferguson, Dr Jeffery Barrett, Barrett, Pradeep Gaur, Harsh Vardhan, it's, Ghafur, Shailesh Kothalkar, David Denning Organizations: Bloomberg, Daily Mail, Alpha, Health, Pfizer, AstraZeneca, Delta, Seven Hills, Apollo Hospital, Indian, of Medical Research, of Genomics, MRC Centre, Infectious, Imperial College London, Genomics, Wellcome Sanger Institute, Rapid, Getty, Seven Star Hospital, Telegraph, University of Manchester, Global, Fund, Fungal Infections Locations: India, COVID, Mumbai, Chennai, Nature, Delhi, New Delhi, Nagpur
NEW DELHI—Indian cities and states are building oxygen plants and setting up new Covid-19 treatment centers, preparing for the possibility of more surges as the most recent crisis recedes. With oxygen having been in short supply in the recent surge, New Delhi, among the worst-hit places, is buying 25 oxygen tankers for transport, and building 64 small plants and one large one to produce it. India’s financial center, Mumbai, is setting up more Covid-19 centers, adding 5,500 beds, including some for children, said Suresh Kakani, a senior official in charge of the city’s health department. Many hospitals in Mumbai and elsewhere in India have historically relied on oxygen cylinders, which were time-consuming and difficult to refill during the recent surge. Mumbai also plans to set up 12 oxygen plants near hospitals, he said.
Persons: ” Arvind Kejriwal, Suresh Kakani, Mr, Kakani Locations: DELHI, New Delhi, Mumbai, India
India investigates Binance unit's crypto transactions
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
FILE PHOTO: Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration/File PhotoThe investigation comes at time when the Indian government is mulling whether to introduce a law that could ban cryptocurrencies. The federal Enforcement Directorate (ED) said that the probe involved transactions worth 27.90 billion rupees ($381.93 million). Should we receive a formal communication or notice from the ED, we’ll fully cooperate in the investigation,” Shetty countered. But the bill was not tabled in the session and there is uncertainty about the government’s plans.
Persons: Florence Lo, , WazirX, Nischal Shetty, we’ll, ” Shetty Organizations: REUTERS, Binance, Terrorism Locations: MUMBAI
India investigates Binance unit for crypto transactions violating fx rules
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
The federal Enforcement Directorate revealed the launch of the investigation in a tweet. WazirX - which was acquired in 2019 by Binance, the world’s largest digital currency exchange - did not immediately respond to an email seeking comment. The investigation comes at time when the Indian government is dithering over the introduction of a law that could ban cryptocurrencies. The government was set to present a bill to parliament by March that proposed a ban on cryptocurrencies, making trading and holding them illegal. But the bill was not tabled in the session and since then conflicting statements have added to the uncertainty over the bill’s fate.
Organizations: Directorate, Binance Locations: MUMBAI
Indian shares close at record high as COVID-19 curbs ease
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com + 0.89   time to read: +2 min
BENGALURU (Reuters) - Indian shares ended at a record high on Friday, gaining for a fourth consecutive week as more states eased pandemic restrictions, with investors seeming confident that high U.S. inflation was transitory following the latest reading. FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index rose 0.39% to 15,799.35 and the benchmark S&P BSE Sensex closed 0.33% higher at 52,474.76. The southern Indian state of Karnataka, home to the tech hub Bengaluru, announced on Thursday it would ease some COVID-19 restrictions in a phased manner. The country’s richest state Maharashtra, Prime Minister Narendra Modi’s home state of Gujarat and the Indian capital New Delhi have already announced relaxations.
Persons: Francis Mascarenhas, ” Amar Ambani, Narendra Modi’s Organizations: Bombay Stock Exchange, REUTERS, BSE, Yes Securities, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Steel Authority of India Ltd Locations: BENGALURU, Mumbai, India, Karnataka, Bengaluru, Maharashtra, Gujarat, New Delhi
India court dismisses pleas by Amazon, Flipkart to quash antitrust probe-lawyer
  + stars: | 2021-06-11 | by ( ) www.reuters.com sentiment -0.98   time to read: +1 min
A man walks past an Amazon logo outside the company's collection point in Mumbai, India, March 19, 2021. REUTERS/Francis MascarenhasAn Indian court on Friday dismissed pleas by Amazon.com Inc (AMZN.O) and Walmart's (WMT.N) Flipkart to quash an antitrust investigation, a lawyer told Reuters, more than a year after the probe was put on hold after legal challenges by the companies. The Competition Commission of India (CCI) announced a probe in January 2020 into Amazon and Flipkart following a complaint from a trader group which alleged they were promoting some "preferred sellers" and in turn hurting business for other, smaller sellers. The companies denied any wrongdoing and obtained a stay from a court last year. The High Court in the southern state of Karnataka on Friday dismissed the petitions by Amazon and Flipkart to quash the probe, Abir Roy, a lawyer for the opposing Indian trader group told Reuters, effectively paving the way for restart of the investigation.
Persons: Francis Mascarenhas, Flipkart, Abir Roy Organizations: REUTERS, Amazon.com Inc, The, of India, Court, Amazon, Reuters, Thomson Locations: Mumbai, India, Francis Mascarenhas An, Karnataka
Muslim characters were almost entirely absent from 200 top-grossing movies in recent years, according to the latest study from the Annenberg Inclusion Initiative at the University of Southern California. When they were represented, the study found, many were associated with violence and other potentially harmful stereotypes. It comes as the entertainment industry faces growing scrutiny over issues of diversity, representation and inclusion across movies, television and other media. The authors, pointing to their qualitative analysis, said roughly one-third of Muslim characters were perpetrators of violence and more than half were targets of violence. "By presenting Muslims in an abundance of storylines, audiences can see and resonate with the innumerable experiences of Muslims from all walks of life."
Persons: Riz Ahmed, ” Ahmed, Baab Khan, Khan Organizations: Annenberg, University of Southern, New Zealand, Popular, Ford Foundation, Pillars Fund, Pew Research Center Locations: University of Southern California, United States, United Kingdom, Australia, New, Mumbai, U.S
Global food import costs to surge 12% to record this year -FAO
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.92   time to read: +2 min
REUTERS/Danish Siddiqui/File photoGlobal food import costs are expected to rise 12% in 2021 to a record due to surging commodity prices and robust demand during the COVID-19 crisis, the United Nations food agency said. The world's food import bill, including shipping costs, is projected to reach $1.715 trillion this year, from $1.530 trillion in 2020, the Food and Agriculture Organization (FAO) said in its twice-yearly Food Outlook report on Thursday. Its monthly food price index hit a 10-year high in May, reflecting sharp gains for cereals, vegetable oils and sugar. read moreThe FAO said a separate index of food import values, including freight costs that have also soared, reached a record in March this year, surpassing levels seen during previous food price spikes in 2006-2008 and 2010-2012. A strong volume increase for staple food imports last year had already driven up global import costs 3% to a record.
Persons: Danish Siddiqui Organizations: REUTERS, Danish, United, Food and Agriculture Organization, FAO, Food, Thomson Locations: Mumbai, India, United Nations, China
Surging food import costs threaten world's poorest, FAO warns
  + stars: | 2021-06-10 | by ( Gus Trompiz | ) www.reuters.com + 0.00   time to read: +3 min
The world's food import bill, including shipping costs, is projected to reach $1.715 trillion this year, up 12% from $1.530 trillion in 2020, the FAO said in its twice-yearly Food Outlook report on Thursday. Nations classed as Low-Income Food-Deficit Countries by the FAO are forecast to see food import costs jump 20% this year, with tourism-reliant economies in a particularly precarious position, the agency said. read moreThe FAO's monthly food price index hit a 10-year high in May, reflecting sharp rises for cereals, vegetable oils and sugar. read moreA separate index of food import costs, including freight costs that have also soared, reached a record in March this year, surpassing levels seen during previous food price spikes in 2006-2008 and 2010-2012, the FAO said. A strong volume increase for staple food imports last year had already driven up global import costs by 3%, to a record high.
Persons: Danish Siddiqui, Josef Schmidhuber, Schmidhuber Organizations: REUTERS, Danish, . Food Agency, Food and Agriculture Organization, FAO, Reuters, Food, Nations, International, Thomson Locations: Mumbai, India, Yemen, Nigeria, Argentina, Russia, China
Indian shares open higher as IT, energy firms gain
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.58   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares rose on Thursday, with information technology and energy companies gaining the most, as investors awaited U.S. inflation data and the outcome of a European Central Bank meeting later in the day. The blue-chip NSE Nifty 50 index was up 0.35% at 15,681.80 and the benchmark S&P BSE Sensex rose 0.30% to 52,103.55 by 0346 GMT. Reliance Industries Ltd, Infosys Ltd and Tata Consultancy Services Ltd were among the top boosts to the Nifty 50, gaining between 0.7% and 0.8%. The Nifty IT index, which has gained 2% so far this week, was up 0.89%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, European Central Bank, BSE, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Federal Locations: Mumbai, India, BENGALURU, U.S
Financials boost Indian shares; U.S. inflation data eyed
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares closed up on Thursday, boosted by heavyweight financials stocks, with investors eyeing U.S. inflation data to gauge the Federal Reserve’s stance on trimming stimulus measures. The blue-chip NSE Nifty 50 index rose 0.65% to 15,737.75 and the benchmark S&P BSE Sensex climbed 0.69% to 52,300.47 at close. The Nifty PSU Bank Index, which tracks state-run banks, was a top performer among other sub-indexes with a 2.40% gain at close. Shares of Infosys Ltd, which have risen in five of the last eight trading sessions, rose 0.6%, lifting the Nifty IT index up 0.94%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, BSE, Federal, Investors, European Central Bank, Bajaj Finance Ltd, State Bank of India, HDFC, Infosys Ltd Locations: Mumbai, India, BENGALURU, U.S
The dollar index edged up slightly to trade near 90.189 against its rivals, making gold more expensive for other currency holders. “The market is in a wait-and-watch mode ahead of US CPI and ECB outcome,” said Jigar Trivedi, commodities analyst at Mumbai-based broker Anand Rathi Shares. Investors are also tracking U.S. weekly jobless claims data, also due on Thursday, for more clues on labour market recovery in the world’s biggest economy. “In the near-term, technically we still see gold prices reasonably well supported. Indicative of the upbeat sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.6% on Wednesday.
Persons: , Jigar Trivedi, Anand Rathi, Kyle Rodda, Brijesh Patel, Sherry Jacob, Phillips, Sriraj Organizations: European Central Bank, CPI, Federal Reserve, Reuters, Investors, , Trust Locations: Mumbai, Bengaluru
Eleven dead, including eight children, in Mumbai building collapse
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -0.99   time to read: 1 min
Rescue workers search for survivors in the debris after a residential building collapsed in Mumbai, India, June 10, 2021. REUTERS/Hemanshi KamaniAt least 11 people, including eight children, died after a Mumbai residential building collapsed on top of another building late on Wednesday, local officials said. The incident occurred close to midnight in a northern suburb of Mumbai, officials said, adding that more people could be trapped inside the debris. Local television showed pictures of rescue workers pulling out debris in a narrow lane, as relatives and onlookers milled about. Incidents of building collapses become more common in India's financial capital of Mumbai during the monsoon.
Organizations: REUTERS, Local, Thomson Locations: Mumbai, India
Indian tech braces for its second coming of age
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Sivaram VIt’s shaping up to be a defining year for Indian technology. The rise of Indian outsourcers such as Tata Consultancy Services (TCS.NS) in the 1990s defined the first golden age. Biggies include Walmart-owned (WMT.N) e-tailer Flipkart, which is raising funds at a mooted $40 billion valuation and eyeing a listing in New York over the next year or so. Fortunately, Indian startups are already maturing. Since 2019, top Indian tech investor SoftBank (9984.T) has deployed its capital judiciously, forcing companies to focus on their bottom line.
Persons: Steve Jobs, Mukesh Ambani, Jack Ma’s Ant Organizations: Apple, Kinfra High Tech, REUTERS, Tata Consultancy Services, Credit Suisse, Biggies, Walmart, HDFC Bank, Hindustan Unilever, Mobile, Reliance Industries, Financial, Bloomberg Locations: Kinfra, Indian, Kochi, New York, India, Paytm, New Delhi, Beijing, Mumbai
Rescuers search for survivors after Mumbai building collapse kills 11
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Rescue workers search for survivors in the debris after a residential building collapsed in Mumbai, India, June 10, 2021. REUTERS/Hemanshi KamaniRescue workers in Mumbai frantically searched for survivors beneath the rubble on the morning after a building collapse killed at least 11 people, including eight children, following the first downpour of the monsoon season. Resident Mohammed Rafiq Siddiqui said he had lost nine family members when a four-story tenement block came down on the adjoining building where he lived late on Wednesday evening. "I left home at 10.30 pm to fetch some milk, but by the time I came home the building had collapsed," Siddiqui told Reuters. "People came to help us when the building collapsed, the police came, but they couldn't do anything," he said as he stood in the narrow lane where relatives had gathered, desperately hoping that rescuers would find someone alive.
Persons: Mohammed Rafiq Siddiqui, Siddiqui Organizations: REUTERS, Reuters, Thomson Locations: Mumbai, India, India's
Indian shares open higher on financials, healthcare boost
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.68   time to read: +1 min
FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares edged up to near record highs on Wednesday in choppy trading, boosted by gains in heavyweight financials and healthcare stocks. The blue-chip NSE Nifty 50 index was up 0.14% at 15,763.85 and the benchmark S&P BSE Sensex fell 0.16% to 52,361.19 by 0403 GMT. HDFC Bank Ltd and HDFC Ltd were among the top boosts to the Nifty 50, gaining 0.5% and 0.7%, respectively. Globally, stocks held near record highs on Wednesday, as investors bet the U.S. Federal Reserve is some way off from tapering its economic stimulus.
Persons: Francis Mascarenhas, Cipla Organizations: Bombay Stock Exchange, REUTERS, BSE, HDFC Bank, HDFC, U.S . Federal, European Central Bank Locations: Mumbai, India, BENGALURU
Indian shares slip from record peaks as Reliance drags
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
BENGALURU (Reuters) - Losses in energy and financial stocks pulled Indian shares down from record highs on Wednesday, with investors cautious ahead of key U.S. inflation data due later in the week. FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. Dewan added investors were also on the sidelines ahead of U.S. inflation data and a key meeting of the European Central bank on Thursday. In Mumbai trading, Reliance Industries, India’s largest listed company by market value, slid 1.8% and was the top drag on the indexes. Power utilities were the bright spot, with Nifty 50-component Power Grid Corp of India jumping 3.4%.
Persons: Francis Mascarenhas, , Neeraj Dewan, Dewan, GAIL Organizations: Bombay Stock Exchange, REUTERS, BSE, Quantum Securities, European, Reliance Industries, India’s, Gas, Grid Corp, Tata Power Locations: BENGALURU, Mumbai, India, New Delhi, Odisha
REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares edged up on Tuesday, extending gains from a record high close in the previous session, as the government offered free COVID-19 vaccines to all adults, boosting sentiment as parts of the country ease restrictions. Both the indexes closed at a record high on Monday, bolstered by hopes that the economy would pick up as some states eased COVID-19 lockdowns. India will provide free COVID-19 vaccines to all adults, Prime Minister Narendra Modi said on Monday after markets closed, in an effort to rein in a pandemic that has killed hundreds of thousands. Technology stocks boosted the Nifty 50 index, with software services firms Infosys Ltd and Tata Consultancy Services Ltd rising 1.1% and 0.8%, respectively. The Nifty IT index was up 1.1%, hitting a record high and leading gains among other subindexes.
Persons: Francis Mascarenhas, Narendra Modi Organizations: Bombay Stock Exchange, REUTERS, BSE Sensex, Infosys Ltd, Tata Consultancy Services Locations: Mumbai, India, BENGALURU, COVID
Indian shares erase gains as global inflation worries weigh
  + stars: | 2021-06-08 | by ( Rama | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index fell 0.20% to 15,716.40 and the benchmark S&P BSE Sensex was down 0.18% at 52,243.87 by 0541 GMT. “Markets are at slightly elevated valuations and seeing routine profit taking due to global inflation worries,” said Anita Gandhi, director at Arihant Capital Markets. Investors are awaiting U.S. inflation data due later this week for clarity on tapering of policy support from the Federal Reserve. Top private-sector lender HDFC Bank Ltd and conglomerate Reliance Industries Ltd were among the top drags to the Nifty 50 index, falling 1% and 0.8%, respectively. The Nifty PSU Bank Index, which tracks state-owned banks, fell 1.72% and the Nifty Bank Index was down 1.04%.
Persons: Francis Mascarenhas, , Anita Gandhi Organizations: Bombay Stock Exchange, REUTERS, BSE, Arihant, Markets, Investors, Federal Reserve, European Central Bank, HDFC Bank Ltd, Reliance Industries, Nifty, Infosys Ltd, Tata Consultancy Services Locations: BENGALURU, financials, Mumbai, India
Indian shares end slightly lower as global inflation worries weigh
  + stars: | 2021-06-08 | by ( Reuters Staff | ) www.reuters.com sentiment -0.90   time to read: +2 min
BENGALURU (Reuters) - Indian shares ended a tick lower on Tuesday as concerns around rising global inflation and high valuations in the domestic market outweighed optimism around the country’s declining COVID-19 cases. FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index closed down 0.07% at 15,740.10, while the benchmark S&P BSE Sensex settled 0.1% lower at 52,275.57. Both indexes had scaled record peaks on Monday as some Indian states eased lockdowns and daily COVID-19 cases hit a two-month low. On Tuesday, the three biggest drags on the Nifty 50 were HDFC Bank, mortgage lender HDFC and ICICI Bank.
Persons: Francis Mascarenhas, , Anand James Organizations: Bombay Stock Exchange, REUTERS, BSE, Geojit Financial, Federal Reserve, European Central Bank, HDFC Bank, ICICI Bank, Infosys Locations: BENGALURU, Mumbai, India, Kochi,
Total: 25