Rupee slips 12 paise to close at 72.55 against U.S. dollar
Global oil benchmark Brent crude advanced 3.08% to $62.66 per barrel
The rupee weakened by another 12 paise to close at 72.55 (provisional) against the U.S. dollar on Wednesday, weighed down by a massive selloff in domestic equities and spike in global crude oil prices.
Besides, strengthening American currency in the overseas market amid foreign fund outflows also impacted the domestic unit, forex dealers said.
At the interbank forex market, the domestic unit opened weak at 72.51 against the U.S. dollar. During the session, it swung between a high of 72.51 and a low of 72.69.
The rupee finally settled at 72.55, registering a fall of 12 paise over its previous close.
On Tuesday, the domestic unit had settled at 72.43 against the American currency.
On the domestic equity market front, the 30-share BSE benchmark Sensex crashed 871.13 points to end at 49,180.31, and the broader NSE Nifty dived 265.35 points to 14,549.40.
Global oil benchmark Brent crude advanced 3.08% to $62.66 per barrel.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13% to 92.46.
Foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth ₹108.24 crore, as per exchange data.
Don Lemon Names And Shames Republicans ‘Role-Playing’ In Gun-Touting Political Ads
Republican lawmakers who wield weapons in their campaign ads drew scrutiny from CNN’s Don Lemon on Tuesday.
The “CNN Tonight” anchor explained how gun-themed spots released by the likes of Reps. Lauren Boebert (Colo.), Madison Cawthorn (N.C.) and Marjorie Taylor Greene (Ga.) weren’t really about defending Second Amendment rights as much as they were for campaign fundraising.
“Do you want to know what the point is? I wish I had some dollar bills here. Raising money is the point of it. It works. It raises the money. It’s one of those wedge issues,” said Lemon.
But the Second Amendment “doesn’t require us to submit to a lifetime of mass carnage,” added the anchor, reflecting on two mass shootings in Colorado and Georgia that killed a total of 18 people.
“That carnage is happening in our real life. Not their theater of the militia,” he said. “Not in their role-playing, because they’re playing roles. Playing a role there. Role-playing ads. Don’t play ‘good guy with a gun’ for your campaign ad while Americans are dying. Don’t play politics with our lives.”
Tencent Holdings Q4 Results Up; Raises Dividend
Chinese Internet value added services provider Tencent Holdings Ltd. (TCTZF.PK,TCEHY.PK) on Wednesday posted fourth-quarter net profit attributable to equity holders of 59.3 billion yuan or $9.1 billion, higher than 21.6 billion yuan in the year-ago quarter.
On a per share basis, profit rose to 6.112 yuan from 2.248 yuan in the same period last year.
Non-IFRS profit attributable to equity holders was 33.2 billion yuan or $5.1 billion in the quarter, compared to 25.5 billion yuan in the prior-year period.
On a per share basis, non-IFRS profit came in at 3.413 yuan in the fourth quarter of 2020.
Quarterly revenues were up 26 percent to 133.7 billion yuan or $20.5 billion from 105.8 billion yuan in the comparable period last year.
The company’s Board has recommended a final dividend of HK$1.60 per share for fiscal year 2020, higher than last year’s HK$1.20 per share.
Prince Harry takes up another new job aimed at fighting misinformation
U.S. core capital goods orders fall in February
New orders for key U.S.-made capital goods unexpectedly fell in February, suggesting some cooling in business spending on equipment after recent strong growth.
Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.8% last month, the Commerce Department said on Wednesday. These so-called core capital goods orders gained 0.6% in January.
Economists polled by Reuters had forecast core capital goods orders rising 0.5% in February.
Overall durable goods orders fell by 1.1%, compared with expectations of a 0.8% increase and following January's 3.4% jump.
—CNBC contributed to this report.
This is breaking news. Please check back for updates.
Breaking down the contenders, pretenders as the action heats up before the 2021 NBA trade deadline
With the NBA trade deadline nearing on Thursday at 3 p.m. ET, there is no shortage of possibilities for both buyers and sellers.
Are teams emboldened by injuries to Los Angeles Lakers All-Stars LeBron James and Anthony Davis and make moves to improve their chances of wining a title? Do the Phoenix Suns, who are just two games behind the Utah Jazz in the Western Conference, think they're a role player away from making a deep playoff run? Do the Milwaukee Bucks believe they can stand pat and still overtake the Philadelphia 76ers and Brooklyn Nets in the Eastern Conference? Do the Indiana Pacers, who fired coach Nate McMillan after being swept in the first round last season, have what it takes to get into the postseason?
TRADE TRACKER: Who is moving where before Thursday's NBA trade deadline?
We take a look at those questions and more with a panel of NBA experts. USA Today's Matt Eppers moderated a roundtable with USA Today basketball writers Jeff Zillgitt and Mark Medina, J. Michael Falgoust of the Indianapolis Star, Jim Owczarski of the Milwaukee Journal Sentinel and Duane Rankin of the Arizona Republic.