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US auto sales fell 4.2 percent in August as some major automakers said a long-expected decline due to softer consumer demand had begun, possibly sparking a shift to juicer customer incentives and slower production. The top three sellers, General Motors Co, Ford Motor Co and Toyota Motor Corp on Thursday reported declines of at least 5 percent. (Photo – PTI)
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Bringing in disruption in the Indian telecom industry, Reliance Industries on Thursday announced free voice calls and roaming services for users, while data would be charged at one-tenth of the prevailing market rates. RIL's telecom venture, Reliance Jio will offer 10 monthly plans to customers, starting at Rs 149, in a move that the company believes will bring in "data-giri" as demand for data services boom in the country. (Photo – PTI)
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The price of subsidised cooking gas (LPG) was on Thursday hiked by about Rs 2 per cylinder, third increase since July, while the jet fuel price was cut by 3.8 per cent. A subsidised 14.2-kg cylinder will now cost Rs 425.06 in Delhi as against Rs 423.09 previously, according to state-owned oil firms. (Photo – PTI)
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Market benchmark BSE Sensex on Thursday erased its early gains to end lower by 29 points, halting 3-day winning run, following emergence of sell-off mainly in telecom stocks after new entrant Reliance Jio came out with free voice calls and cheaper data tariffs. (Photo – PTI)
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Bucking the overall trend, auto stocks led by Tata Motors, M&M, Bajaj Auto and Maruti Suzuki rose up to 1.15 per cent largely on the back of monthly sales figures for August. Other gainers include Gail 2.08 per cent, followed by Coal India 1.32 per cent, ICICI Bank 1.24 per cent, Lupin 1.21 per cent, Tata Motors 1.15 per cent, HDFC 1.12 per cent and M&M 0.97 per cent. Bharti Airtel with a plunge of 6.37 per cent to 310.70 was the worst hit from the Sensex pack. Idea Cellular tanked 10.48 per cent to Rs 83.70 — its 52-week low on the BSE. Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index. (Photo – PTI)
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Falling for a fourth straight day, gold prices cracked below the Rs 31,000-mark by losing another Rs 100 to Rs 30,950 per 10 grams on Thursday, picking weak overseas cues amid muted demand from jewellers in the domestic spot market. (Photo – PTI)
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The Indian rupee pared its initial losses to recover slightly by 2 paise to 66.94 against the American currency in late morning trade on bouts of dollar selling by banks and exporters amid higher equities. The rupee opened lower at Rs 67.05 per dollar from yesterday's closing level of Rs 66.96 at the Interbank Foreign Exchange (Forex) market. (Photo – PTI)
