Stock Market Highlights: Sensex ends below 77,000 after recovering from intraday lows, Nifty50 below 24,000; crude oil prices hit multi-year highs

Indian benchmark indices staged a strong recovery on Wednesday, with the Sensex surging nearly 610 points and the Nifty closing comfortably above the 24,100 mark. The rebound was driven by value buying in FMCG, automobile and telecom stocks, supported by optimism around corporate earnings and a positive trend across Asian markets. After a choppy trading…

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Rupee’s fall triggers fund transfer: Rich Indians rush to park money overseas; banks roll out additional regulations

Many Indians looking to transfer money overseas are facing tightened scrutiny from high street banks, demanding to provide detailed proof behind the origin of the funds. This comes as rupee continues to slide against the US dollar and many rush to move their funds abroad.Over the past month, at least two Mumbai-headquartered private sector banks…

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Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?

Veteran banker Uday Kotak on Wednesday said the rupee’s fall past the 90-per-dollar mark reflects persistent selling by foreign portfolio investors (FPIs) and private equity funds routing money through the FDI channel, even as domestic investors continue to buy into the market, ET reported. His comments came as the currency extended its eight-month decline against…

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‘Direct consequences on economy’: Indian envoy to UK on Strait of Hormuz disruption amid Iran war

India has condemned attacks on commercial shipping in the Strait of Hormuz, calling them “unacceptable,” as the International Maritime Organization (IMO) urged coordinated action to safeguard civilian vessels in the Gulf region.Addressing the 36th extraordinary session of the IMO Council in London on Thursday, Vikram Doraiswamy, India’s ambassador to the UK, emphasised New Delhi’s commitment…

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UK-based Reabold draws criticism for weighing gas-powered bitcoin mining operation

Reabold Resources, an investment company focused on developing European gas projects, said it is considering establishing a gas-powered bitcoin BTC$75,664.09 mining station in northern England. The London-based company is exploring the potential to deploy a small power plant as a pilot for future data-center developments that are “crucial to the future U.K. economy,” it said…

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