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China nightmare and lingering worries over monsoon tormented markets on Monday when the benchmark BSE Sensex closed below the 25,000-mark for the first time in 15 months, losing 308 points in a day.
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Indian rupee plunged by 36 paise to close at 2-year low of 66.82 against the US dollar on Monday on persistent dollar demand from banks and importers due to sustained foreign capital outflows amidst sharp fall in equity markets.
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Asking mobile operators to address the problem of call drops, Telecom Minister Ravi Shankar Prasad on Monday said government doesn't appreciate when they just add customers but do not look after their convenience.
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India is likely to grow at 7.4 per cent this fiscal, slightly lower than the earlier estimate of 7.6 per cent, a DBS report said today adding the Reserve Bank may go for 50 bps more rate cuts amid slower growth and faster than expected pullback in inflation.
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Snapping its three-day fall, gold prices recovered Rs 110 to Rs 26,840 per 10 grams at the bullion market on Monday on emergence of buying by jewellers and retailers at prevailing levels to meet rising seasonal demand even as the metal weakened overseas.
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At 24,893.81, it was the lowest closing in 15 months for the Sensex, which has lost almost all the gains since the relief rally from May 26, 2014, when Narendra Modi was sworn in as the Prime Minister.
What is SB 509? Controversial ‘anti-India’ bill vetoed by California Gov Newsom
