'Mr Modi has inherited a system that taxes businessmen and fritters the money away over ministries.'
The currency lost six paise on sustained dollar demand from importers.
The PM held wide-ranging talks with the Sultan of Oman and signed eight agreements, including pacts on cooperation in the field of defence, health and tourism.
The Sensex and the Nifty witnessed biggest one day loss in percentage terms since June 24
It is a sharp depreciation in rupee valuation against the US dollar that has led to this steeper fall in the Dollex.
The tally of 114 includes two fatalities and 17 foreigners as well as 13 people who were discharged after they recovered from the infection.
On the occasion of the National Stock Exchange's (NSE's) silver jubilee celebration, its MD and CEO Vikram Limaye, bottom, left, spoke to Somesh Jha to discuss the way forward and how the exchange plans to deal with the present set of issues.
Infosys slipped nearly 9% after the company cut full year revenue outlook for FY17.
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
Losers include ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L&T, Vedanta, Yes Bank and Axis Bank, falling up to 2.54 per cent. On the other hand, Tata Steel, PowerGrid, HCL Tech, Kotak Bank and Maruti were the top gainers on Sensex, rising up to 2.31 per cent.
RBI's steps will prevent rupee from slipping, even if OMCs meet entire $ demand from market
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
Broader market underperformed the headline indices
With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
They have put in $14 billion so far in 2014 but this could get slower if the US Fed raises rates; however, there are expectations on compensatory flows.
Our stock exchanges no longer belong to one state or one community.
Despite a strong start to trade today, key benchmark indices retreated sharply from their higher levels following bouts of profit-taking amid fresh weakness in the rupee against the dollar.
'The world does not care about the tension on our border.' 'India has to emerge as a strong economic power.' 'Respect comes when the world sees a country with a direction and leadership that has a vision,' points out Ramesh Menon.
The 30-share Sensex ended down 66 points at 28,438 and the Nifty ended down 15 points at 8,633.
The real issue in India is not between Make or Made/Create in India or basic or applied research. We need both. The solution is to create an eco-system where new ideas can flourish and convert themselves into new technologies and products, says Colonel Anil A Athale (retd).
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
"The RSS is trying to change the nature of India. Other parties haven't tried to capture India's institutions," he said.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
This is the highest closing for both the indices since May 15.
Arpi deserves to be complimented for the commitment and hard work that have gone into this production. The frustrations of seeking reliable documentation from the catacombs of the Indian bureaucracy did not deter him from going after the best information available, and the result is one that he can take much satisfaction in. Ambassador Prabhat P Shukla, Member Advisory Council, Vivekananda International Foundation, reviews Claude Arpi's The End of an Era: India Exits Tibet.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
There is a sense of relief in Beijing that Modi will be at the helm of affairs in Delhi at a critical juncture in the geopolitics of the region, says Ambassador M K Bhadrakumar.
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