Rupee down by 4 paise against dollar

MUMBAI: The Indian rupee fell marginally by 4 paise to Rs 45.36 a dollar in early trade at Interbank Foreign Exchange on Thursday.

Forex dealers said dollar's gains against other Asian currencies along with demand for the US dollar from importers put pressure on the rupee.

However, higher opening at the stock market limited its losses, they said.

The rupee had fallen by 34 paise to close at two-week low of Rs 45.32/33 against the US dollar in Wednesday's session.

Read more: Rupee down by 4 paise against dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-down-by-4-paise-against-dollar/articleshow/7227487.cms#ixzz1AEOEy6H7

Sensex up by 125 points in opening trade

MUMBAI: The BSE benchmark Sensex gained 125 points in the opening trade today on fresh buying of heavy-weight stocks, driven by firming trend on the other Asian bourses.

The 30-share index of the Bombay Stock Exchange, which had lost about 260 points in the previous two sessions, recovered by 124.75 points or 0.62 per cent at 20,425.85 level in the opening trade.

Similarly, the broad-based National Stock Exchange index Nifty also moved up by 36.35 points or 0.60 per cent to 6,116.15 points.

Brokers said fresh buying by funds and retail investors on firming trend in Asian markets, helped the Sensex recovery.

Stocks of metals, healthcare, oil and gas and realty sectors were trading in green.

Meanwhile, Japan's Nikkei Index rose by 0.93 per cent while Hong Kong's Hang Seng Index was up 0.05 per cent in the morning trade.

In the US, the Dow Jones Industrial Index ended 0.27 per cent up yesterday.

Read more: Sensex up by 125 points in opening trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-up-by-125-points-in-opening-trade/articleshow/7227424.cms#ixzz1AEO5tXK2

Air India ups fuel surcharge by up to Rs 200

STAFF WRITER 14:50 HRS IST

Mumbai, Jan 5 (PTI) In line with an up to Rs 200 hike in fuel surcharge on domestic travel by two private carriers, state-run Air India today increased the same across its domestic sectors by a similar amount.

Air India has raised fuel surcharge by Rs 100 for travel up to 750 km and Rs 200 for flights over 750 km, an Air India spokesperson told PTI here.

"The hike was necessitated following the steep spike in aviation fuel prices in the past few months," the spokesperson pointed out.

After the hike, the revised fuel surcharge stands at Rs 2,450 and Rs 3,300, respectively, the spokesperson said, adding the hike comes into force with immediate effect.

Union Environment Ministry team visits Lavasa

STAFF WRITER 15:0 HRS IST

Pune, Jan 5 (PTI) A Union Environment Ministry team today visited the Lavasa lake city near here to determine whether promoters of the project had committed any violation of environmental norms.

A report will be submitted to the Mumbai High court based on the findings of the five-member committee, which will be doing the environment impact assessment of the vast campus of the project, where the construction work has been stayed following objections raised by the ministry.

The team is scheduled to inspect the site for three days from today and is accompanied by Pune district collector Chandrakant Dalvi along with some Maharashtra forest department officials.

Rising onion import from Pak fail to lower its price

STAFF WRITER 13:27 HRS IST

Chandigarh, Jan 5 (PTI) Despite import of over 6,000 metric tonne of onion from Pakistan and hopes of early arrival of new crop, retail rates of bulb in Punjab and here continue to remain high at Rs. 45-50 per kg.

Notably, majority of imported onion from Pakistan are being consumed in various parts of Punjab and Chandigarh with the landed cost going up due to high demand.

Onion is being sold at Rs. 45-50 per kg in markets of Chandigarh and several parts of Punjab including Ludhiana, Amritsar, traders said today.

Retail prices of onion had tumbled from Rs. 60-65 per kg to a level of Rs. 40-45 per kg almost twelve days back because of increased supply of crop from neighbouring country of Pakistan.

"But the (retail) prices have not softened further even though the supply from Pakistan has increased considerably," said a Ludhiana based vegetable merchant.

'OilMin not in favour of raising diesel, LPG prices'

STAFF WRITER 13:35 HRS IST

New Delhi, Jan 5 (PTI) Oil Minister Murli Deora today said his ministry is not in favour of raising diesel and domestic LPG prices as response to spurt in global crude oil prices, as the move will add to already high inflation rate.

"We are trying to see that we do not have to increase prices," he told reporters here.

Last week a meeting of the Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee was indefinitely postponed on Deora's insistence of not raising fuel prices just now.

"I don't think the EGoM should meet just now to decide on raising prices," Deora said today.

Others in the government have favoured raising fuel prices as a response to hardening of international crude oil rates to over USD 90 per barrel while Deora has preferred government subsidies to lessen burden on the common man.

Rupee drops further by 28 paise against dollar

MUMBAI: The rupee dropped further by 28 paise to Rs 45.26 against the American currency in the early trade on persistent dollar demand from banks and corporates on the back of firm dollar overseas.

At the fairly active Interbank Foreign Exchange (Forex) market, the domestic currency opened lower at Rs 45.22/24 as against yesterday's closing level of Rs 44.98/99 per dollar and declined further to Rs 45.26 per dollar before quoting at Rs 45.18/20 per dollar at 1030 hrs.

It moved in a range of Rs 45.14 and Rs 45.26 in the early deals.

Sustained dollar demand from banks and corporates due to higher dollar in global markets mainly affected the rupee value against dollar, a forex dealer said.

Meanwhile, oil was down in Asian trade today, as investors moved in to make profits following a rally that took the commodity to two-year highs.

New York's main contract, light sweet crude for February delivery, dipped 38 cents to USD 89 per barrel.

Oil prices were also hampered by a late rebound in the US currency, making dollar-priced crude more expensive for buyers using weaker currencies. In turn, that tends to dent demand and prices.

Read more: Rupee drops further by 28 paise against dollar - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-drops-further-by-28-paise-against-dollar/articleshow/7221047.cms#ixzz1A9U2YvKo

Sensex slips by 50 points in opening trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex shed 50 points in the opening trade today, on increased selling by funds and retail investors in tandem with weak Asian markets.

The 30-share barometer, which had lost 62.33 points in the previous session, lost 50.55 points or 0.24 per cent at 20,448.17 level in a fall led by financial and realty sector stocks.

Similarly, the wide-based National Stock Exchange index Nifty declined by 27.50 points or 0.44 per cent to 6,118.85 points.

Brokers said continued offloading of positions at current high levels by funds and retail investors,particularly, in banking realty and metal sector stocks, dragged the Sensex down.

Besides, absence of positive cues from other Asian bourses also cast shadow on the sentiments here, they said.

In other markets in Asia, Japan's Nikkei shed 0.10 per cent while Hong Kong's Hang Seng index was down by 0.34 per cent in the morning trade today.

In the US, Dow Jones Industrial Average ended 0.18 per cent higher in yesterday's trade.

Read more: Sensex slips by 50 points in opening trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-slips-by-50-points-in-opening-trade/articleshow/7221002.cms#ixzz1A9TsKGVe