Business

The Central Statistics Office (CSO) attributed the slump to poor performance in agriculture and manufacturing sectors.

In a highly volatile session, the benchmark BSE Sensex ended 118 points lower, dragged by losses mainly in auto and financial stocks. The NSE Nifty too edged 23 points down to settle below the 12,000-mark.

The rupee opened strong at 69.76 at the interbank forex market then gained further ground to touch 69.71 per dollar amid positive opening in domestic equities, displaying gains of 12 paise against the greenback.

The airline has written to its engineering staff that effective June 1, 2019 both Jet Airways and JetLite AMOS Production Environment (a software package provided by a Swiss company for managing aircraft data) will not be available for use.

The broader Nifty was down 0.026% at 11,896.40 as of 0450 GMT, while the benchmark Sensex was trading 0.26% lower at 39,646.18.

Promoting electric vehicles tops the Centre's agenda apart from doubling farmers' income.

Last week, both Mother Dairy and Amul raised the price of milk by Rs 2 per litre in a bid to pay farmers better rate factoring in high input cost.

At 10:35 am, the BSE benchmark Sensex was up 898 points, or 2.3%, to 40,008. The Nifty 50 surged 270 points, or 2.3%, to hit 12,008.

However, fourth quarter (Q4) earnings still beat analyst expectations despite being muted.

At the Interbank Foreign Exchange market, the domestic unit opened slightly down at 69.75 against the dollar, then it rose to quote at 69.80, up 6 paise over its previous close in early trade.

The RBI has said it will implement the approach outlined in the document during the period 2019 - 2021.

The Gulf-based Etihad, which acquired 24 per cent stake in the then Naresh Goyal-promoted carrier in 2013, had two nominee directors, Kevin Night and Robin Kamark, on the airline's board.

The 30-share index was trading 201.24 points, or 0.54 per cent, higher at 37,594.72. The broader NSE Nifty was also trading 57.20 points, or 0.51 per cent, up at 11,314.30.

Chanda Kochhar's brother-in-law Rajiv Kochhar, the founder of Singapore-based Avista Advisory, informed the court that the CBI has already cancelled the LOC issued against him.

Domestic investors kept weighing weak cues from global markets amid uncertainties around US-China trade tariff deal. Also, sustained foreign fund outflows kept investors edgy.

Rising crude oil prices and strengthening of the US dollar against some major rival currencies overseas also pulled down the local unit, Forex traders said.