New Delhi: Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices. The 30-share BSE Sensex opened strong and gained momentum as the session progressed, but came under severe selling pressure in afternoon trade to close 37.78 points or 0.07 per cent lower at 54,288.61.On similar lines, the broader NSE Nifty slipped 51.45 points or 0.32 per cent to end at 16,214.70. Metal stocks took a knock after the government on Saturday hiked the tax on export of iron ores and concentrates to 50 per cent, and imposed a duty of 45 per cent on iron pellets in a bid to increase their domestic availability and curb soaring steel prices. Tata Steel was the biggest loser in the Sensex pack, plummeting 12.53 per cent, followed by UltraTech Cement, ITC, PowerGrid, HDFC, HDFC Bank, HCL Tech and Reliance Industries.In contrast, M&amp;M, Maruti, HUL, Larsen &amp; Toubro, Asian Paints, Kotak Mahindra Bank and Wipro were among the gainers, climbing as much as 4.14 per cent."Nifty once again gave up the intra day gains and ended in the negative."Metals stocks sold off post the levy of export duties over the weekend on iron ore and some steel intermediates," said Deepak Jasani, Head of Retail Research, HDFC Securities."After a firm start, markets failed to hold on to their early upsurge and simply lost track to end marginally lower. Metal stocks bore the brunt...," said Shrikant Chouhan, head of Equity Research (Retail), Kotak Securities Ltd.Among BSE sectoral indices, metal plunged 8.33 per cent, followed by basic materials (4.08 per cent), oil and gas (1.74 per cent) and energy (1.47 per cent).In contrast, auto jumped 1.90 per cent, capital goods 0.91 per cent, IT 0.79 per cent and consumer discretionary goods and services 0.78 per cent.In the broader market, the BSE smallcap declined 0.64 per cent and midcap slipped 0.26 per cent.Global stocks were mixed, with Asian markets in Shanghai, Seoul and Tokyo ending higher, while Hong Kong settled in the red.Equity exchanges in Europe were trading mostly higher in the afternoon session.International oil benchmark Brent crude gained 1.15 per cent to $113.8 per barrel. Rupee recovered from record lows and settled 15 paise higher at 77.55 (provisional) against the US dollar on Monday, supported by a weak greenback overseas.Continuing their selling spree, foreign institutional investors offloaded shares worth Rs 1,265.41 crore on Friday, as per stock exchange data.—PTI

Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices.

Markets surrender early gains as metal stocks crack

Market

Mumbai: Equity benchmark indices opened in the green on Tuesday with Sensex up by 41.07 points and Nifty by 6.80 points. At 9:28 AM, the BSE Sensex was up by 41.07 points or 0.08 per cent at 54,329.68. BSE Limited, also known as the Bombay Stock Exchange, is the oldest stock exchange in Asia, and also the 10th oldest in the world.The 50-scrip NSE Nifty was trading at 16,221.50, at 9:28 AM, up by 6.80 points or 0.04 per cent. NIFTY 50 is a benchmark Indian stock market index, representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. It is one of the two main stock indices used in India.—ANI

 Equity benchmark indices opened in the green on Tuesday with Sensex up by 41.07 points and Nifty by 6.80 points.

Equity indices open in green, Sensex up by 41 points

Mumbai:&nbsp;The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.At the interbank foreign exchange, the rupee opened weak at 77.56 against the American dollar, then turned volatile to trade in a tight range of 77.56 to 77.51. The domestic unit was trading at 77.56 against the greenback, registering a fall of just 1 paisa over the last close. In the previous session, the rupee had settled at 77.55 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 102.27. On the domestic equity market front, the 30-share Sensex was trading 59.07 points or 0.11 per cent lower at 54,229.54 points while the broader NSE Nifty slipped 28.15 points or 0.17 per cent to 16,186.55 points. Global oil benchmark Brent crude futures slipped 0.61 per cent to USD 112.73 per barrel. Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 1,951.17 crore, as per stock exchange data.On Monday, RBI Governor Shaktikanta Das hinted at another interest rate hike in early June to bring down the stubbornly high inflation rate. The next meeting of the Monetary Policy Committee (MPC) is scheduled for June 6-8.—PTI

The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.

Rupee almost flat against US dollar in early trade

The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.



New Delhi (The Hawk): The Central Consumer Protection Authority (CCPA) has issued notices to Ola and Uber, the two online ride hailing platforms for unfair trade practices and violation of consumer rights.&nbsp;&nbsp;As per the data from the National Consumer Helpline (NCH), from 01.04.2021 to 01.05.2022, 2,482 grievances were registered by consumers against Ola and 770 grievances were registered against Uber.Last week, the Department in a meeting with ride-hailing companies Ola, Uber, Rapido, Meru Cabs and Jugnoo directed them to become convergence partner in the National Consumer Helpline, to enable better grievance redressal for consumers and also compliance with Consumer Protection Act, 2019 and E-commerce Rules.Deficiency in service which includes lack of proper response from customer support, driver refusing to take payment by online mode and insisting for cash only, higher amount charged despite going on the same route previously at a lesser charge, unprofessional driver behaviour and driver refusing to switch on AC when the consumer is promised AC ride on the app.Inadequate consumer grievance redressal mechanism in absence of both customer care number and details of grievance officer as required to be mentioned on the platform.Unreasonable levy of cancellation charge wherein users are not shown the amount of time within which cancelling a ride is permitted. The amount of cancellation charge is not displayed prominently on the platform before booking the ride. Undue cancellation charges are borne by users when they are forced to cancel the ride due to unwillingness of the driver to accept the ride or come at the pick-up locationLack of any information on the algorithm or method used by the company to to charge different fares for the same route from two individuals.Inclusion of charges for add-on services by pre-ticked boxes for including add-on services without obtaining consent by explicit and affirmative action before each ride. It may be mentioned that a significant number of complaints have been lodged by consumers across the country on multiple issues which affect their rides booked through both the ride hailing platforms.CCPA is regularly monitoring the consumer protection landscape in the country. Recently, CCPA issued Advisory against illegal sale and facilitation of wireless jammers on online platforms. CCPA has also issued an Advisory to all marketplace e-commerce entities to ensure that details of sellers as mandated under sub-rule (5) of rule 6 of the Consumer Protection (E-commerce) Rules, 2020 including name and contact number of the grievance officer are provided in a clear and accessible manner, displayed prominently to users on the platform.Furthermore, CCPA has also issued Safety Notices under Section 18(2)(j) of the Act to alert and caution consumers against buying goods which do not hold valid ISI Mark and violate compulsory BIS standards. The first Safety Notice was issued on 06.12.2021 with regard to Helmets, Pressure Cookers and Cooking gas cylinders and the second Safety Notice, issued on 16.12.2021 was with regard to household goods including electric immersion water heaters, sewing machines, microwave ovens, domestic gas stoves with LPG etc.

 The Central Consumer Protection Authority (CCPA) has issued notices to Ola and Uber, the two online ride hailing platforms for unfair trade practices and violation of consumer rights.  

 CCPA Issues Notices To Ola And Uber On Violation Of Consumer Rights & Unfair Trade Practices	

Delhi: Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks. The 30-share BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39. During the day, it zoomed 1,604.2 points or 3.03 per cent to 54,396.43. The broader NSE Nifty jumped 456.75 points or 2.89 per cent to finish at 16,266.15.All the Sensex firms ended in the green, with Dr Reddy's, Reliance Industries, Tata Steel, Nestle, Larsen &amp; Toubro, Axis Bank, IndusInd Bank, Sun Pharma, State Bank of India and HDFC emerging as the biggest gainers. The BSE benchmark had dived 1,416.30 points or 2.61 per cent to settle at 52,792.23 on Thursday. The NSE Nifty had tanked 430.90 points or 2.65 per cent to end at 15,809.40. Meanwhile, Asian markets in Hong Kong, Shanghai, Seoul and Tokyo finished in the green. Equity exchanges in Europe were also trading with significant gains in the afternoon session.Stock markets in the US had ended lower on Thursday. International oil benchmark Brent crude dipped 0.11 per cent to $111.9 per barrel. Foreign institutional investors offloaded shares worth a net Rs 4,899.92 crore on Thursday, as per stock exchange data.—PTI

Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks.