ED summons Vijay Mallya, Gold ETFs see Rs 800 cr outflow, Domestic car sales dip 2nd month in row, Sensex, Rupee, more

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Vijay Mallya was today summoned to appear before the ED on March 18 even as the beleaguered businessman asserted he is not an absconder amid an escalating political row over how he was able to go abroad unhindered with NDA ally Shiv Sena also targeting the government. As the BJP and Congress traded charges, the controversial departure of Mallya, 60, in the middle of a massive loan default probe rocked Rajya Sabha for the second day with Congress leader and Leader of Opposition Ghulam Nabi Azad asking the government why did the CBI amend its 'lookout' notice against the liquor baron within a month last year. A cartoon by Rohnith Phore.

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Investors continued to remain bearish on gold exchange-traded funds (ETFs) as they pulled out around Rs 800 crore from the instrument during the first 11 months of the current fiscal. As things stand now, FY16 will mark the third consecutive financial year of outflow from gold ETFs. The pace of outflow, however, slowed down in 2015-16 as against the preceding two years on account of sluggish equity market, experts said.

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Extending gains against the American currency for the third consecutive day, the rupee today ended at 67.05 per dollar, higher by 2 paise on persistent selling of the greenback by banks and exporters in view of sustained foreign capital inflows into equities.

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The 30-share BSE Sensex opened higher and rose further before profit-booking in recent gainers took hold, which pulled it down to 24,623.34 at the close, loss of 170.62 points, or 0.69 per cent.

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The 50-share NSE Nifty broke below the crucial 7,500 level and settled lower by 45.65 points, or 0.61 per cent, at 7,486.15. Intra-day, it shuttled between 7,447.40 and 7,547.10.

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Car sales declined for a second straight month, posting 4.21 per cent dip in February, as Jat quota stir, inventory adjustment by some firms and postponed purchases in expectations of a price cut after the Budget affected demand. According to the data released by the Society of Indian Automobile Manufacturers (Siam), domestic passenger car sales stood at 1,64,469 units in February as against 1,71,703 units in the same month last year.

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T20 World Cup: Scotland will take on Hong Kong in another match of ICC T20 World Cup after it lost to Zimbabwe yesterday.