Business

The rupee appreciated by nine paise to 60.96 against the US dollar in early trade at the Interbank Foreign Exchange.

Sensex on Tuesday droped over 54 points or 0.20 per cent to close at 27,265.32, Nifty also sliped nearly 21 points or 0.26 per cent to end at 8,152.95.

"The unexpectedly weak US jobs number puts doubt in the US economic outlook and in turn, weakened oil demand," Singapore's United Overseas Bank said in a note.

The government too has taken a slew of measures to ease the supply-side constraints, especially to curb hoarding.

Rising for the second day, the rupee closed at one-month high of 60.36 paise, up 13 paise against the dollar on sustained selling of the US currency by exporters and some banks amid heavy capital inflows.

HDFC Bank has made the list eight times, more than any other company since Forbes started the compilation in 2005.

Among the 30-Sensex stocks - Cipla, Bharti Airtel, Sun Pharma, Dr Reddy, SBI, Axis Bank, HDFC Bank, HDFC Ltd, Maruti Suzuki, HeroMoto Corp, Bajaj Auto, were the major contributors to the indices.

The rupee recovered by 7 paise to trade at 60.38 against the US dollar in early trade on selling of the American currency by banks and exporters amid sustained foreign capital inflows.

"It is an honour and distinction to be recognised by Forbes for our industry-leading commitment to innovation," TCS CEO said.

After falling six paise on Thursday, the sentiment was in favour of the rupee today and helped it shrug off a better dollar in overseas markets to log third successive weekly gain.

The NDA government sent a landmark bill to liberalise the insurance sector to a parliament committee on Thursday after the opposition opposed the legislation in the upper house where it has a majority.

Retail inflation data for July, released earlier this week, showed a marginal inch up to 7.96 per cent.

Analysts on average had expected Tata Steel to post a profit of 12.21 billion rupees, but the estimate did not account for the one-time impairment charge.

The Delhi-based airline has already decided to lease 20 Airbus A-320s, including seven A-320 Neo series planes which have the latest technology on board. The airline plans to have a 20-aircraft fleet in five years.

The RBI had maintained status-quo on interest rate in its two credit policies announced after the new government took over in May.

"It shows failure on the part of statutory bodies and the others," the ED said in its charge sheet.