Friday, August 28
Mumbai: India's equity indices rose about half a per cent on Friday as optimism around the United States interest rate cut earlier this week was tempered by the persistent ambiguity over the US-India trade deal, and weakness in the rupee. The Nifty finished at 26,046.95, up 0.6% or 148.40 points, while the Sensex ended at 85,267.66, up 0.5% or 449.53 points. For the week, both benchmarks posted losses of 0.5%. "The US Treasury yields have turned less attractive, which means the money is not expected to flow out of India significantly which prompted the pullback," said Gaurav Sharma, Head of Research, Globe Capital. The ambiguity regarding the US-India trade deal and the depreciation of the rupee put a lid on the gains that were expected after the US Fed cut interest rates, he said. "Till
U.S. lawmaker John Moolenaar, the chair of the U.S. House of Representatives' bipartisan select committee focused on China, on Friday asked Commerce Secretary Howard Lutnick to explain the details of President Donald Trump's decision to allow Nvidia to sell its H200 chips to China.The move by Trump earlier this week signaled a marked break with precedent from Trump's own first administration and that of former President Joseph Biden's of not allowing China access to the most powerful artificial intelligence hardware from U.S. chip firms. The H200 is the predecessor to Nvidia's current flagship chips and is still in use in the U.S. AI industry.In a letter to Lutnick on Friday, Moolenaar cited media reports that said Trump's decision was based at least in part on claimed chip performance gai
Mumbai, Around 55 per cent of Indian travellers plan winter trips every year, and Goa and Kerala remain top choices for them during the travel season, according to an Airbnb report.Indians are travelling in winter not just for holidays, but also to unwind and relax, the report said. "This winter season, Goa, Kerala, Rajasthan and the Himalayan states dominate domestic travel interest on Airbnb, owing to their beaches, backwaters, heritage, winter weather and outdoor experiences," Airbnb Country Head, India and Southeast Asia, Amanpreet Bajaj said, quoting the report based on Airbnb internal data. He said 55 per cent of Indian travellers plan winter trips every year, signalling how winter has evolved as one of the country's favourite travel seasons for exploration and downtime, mainly fuell
