Business

Analysts and sugar traders are expecting such a move by India as the country would be willing to put in the market a large local surplus built after a record crop this year.

The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows.

The central government on Monday expressed concern about the decline of the rupee’s value for the first time and said that they are considering a special deposit scheme for non-resident Indians, among other measures, to curb further depreciation.

Besides, dollar's weakness against some currencies overseas including the euro also supported the rupee, dealers said.

The benchmark 30-share BSE Sensex closed at a three-week low of 37,922.17, down by 467.65 points or 1.22 per cent, which was its biggest single-day fall since March 16 when it lost 509.54 points.

The laggards include Yes Bank, PowerGrid, Kotak Bank, ONGC, Hero MotoCorp, HUL, HDFC Bank, ICICI Bank, HDFC, Tata Motors, Sun Pharma and Asian Paint Sun Pharma, Yes Bank, SBI, ICICI Bank, NTPC, ONGC and Maruti Suzuki, falling up to 2.12 per cent.

US imposed sanctions on the Persian Gulf country and also told India and other countries to cut oil imports from Iran to zero by November 4 or face sanctions.

Public debt accounted for 89.3 per cent of total outstanding liabilities at end-June 2018 with internal debt accounting for 83.0 per cent share.

The tax authorities had set September 7 as the due date for depositing a withholding tax on the deal amount it paid to shareholders of Flipkart.

The Indian Rupee has lost more than 11 percent to the dollar this year. The rupee fell past 72 per dollar to a record low on Thursday.

The acquisition of RHT units was completed on September 5, 2018, FHL said in a filing to BSE.

Almost 7 crore traders across country will keep their shutters closed to protest against Walmart acquiring Flipkart, said Praveen Khandelwal, secretary general, Confederation of All India Traders (CAIT).

The 30-share BSE Sensex is modestly lower by 29.83 points or 0.08 per cent at 38,128.09 at 1100 hours.

Shivinder Singh alleged that collective and ongoing actions of his brother and Sunil Godhwani led to a systemic undermining of the interests of companies.

The rupee stretched its record fall for the fifth-straight session even as the RBI remained mostly on the sidelines, currency market participants said.

A study by Small Industries Development Bank of India (SIDBI) indicated that post demonetisation and GST, the relative credit exposure initially declined for most MSMEs but recovered fully by March 2018.