Moneycontrol Selects: Top stories this evening

Taking Stock | Freaky Friday rocks Indian markets, indices plummet 2%

It was a freaky Friday for the Indian market as it tanked nearly two percent, tracking negative global cues. This was the third straight session of losses for the domestic equities. At close, the 30-pack BSE Sensex tanked 1,093 points or 1.82 percent to 58,841 while the broader Nifty lost 346 points or 1.94 percent to end the day at 17,531. Nifty ended the week lower by 1.6 percent.

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Indian rupee sees worst week in five as weak yuan erodes risk sentiment

The Indian rupee marked its worst week in five on Friday, as risk sentiment was hit by the Chinese yuan weakening past 7 per dollar to breach a key psychological level for the first time in two years. The partially convertible rupee closed down 0.1% at 79.74 per dollar, recouping some of the day’s losses when it had hit an over one-week low. For the week, the rupee declined 0.2%, its biggest loss since the week ended August 12.

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Patanjali Group expects turnover of Rs 1 lakh crore in next 5-7 years; to launch 4 IPOs

Outlining the vision of Patanjali Group, he said the company will provide direct employment opportunities to 5 lakh people in the next five years. "Patanjali Group's current turnover is around Rs 40,000 crore. The Group turnover is expected to reach Rs 1 lakh crore in 5-7 years," he told reporters here.

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'We can't be ignored any more', Sitharaman bats for more women on boards, in top positions

"There is just no excuse (not to have more women on top corporate posts)," the minister said at a Women Directors Conclave at BSE in Mumbai. "We cannot be ignored any longer."

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Four charts show rebound in Indian stocks may run out of steam

The sharp rebound in Indian stocks, driven by an inflow of foreign cash and expectations for continued economic growth amid a worsening global macro backdrop, may be running out of steam. The nation’s key stocks gauges have catapulted back to near-record levels, with the S&P BSE Sensex up about 12% this quarter, among the world’s best performers. The rapid ascent has made some investors uncomfortable, and a number of indicators are flashing warning signs.

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India takes over SCO rotating presidency 

"As a result #SCOSamarkandSummit, India will host next SCO summit as a chairman of Organisation in 2023. We will do our best to assist India, our strategic partner, in the implementation of this responsible mission," Uzbek Foreign Minister Vladimir Norov tweeted. The summit in Samarkand also saw the participation of Russian President Vladimir Putin, Chinese President Xi Jinping and Iran's Ebrahim Raisi, Pakistan Prime Minister Shehbaz Sharif among other leaders from the Central Asian countries.

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