Mumbai: Shares of information technology companies, including Tata Consultancy Services Ltd and Infosys Ltd, gained on Wednesday as the Indian rupee weakened to a 19-month low against the US dollar. NSE’s Nifty IT Index gained 1.11% at 10.57 am. The Nifty 50Index was down 0.20%.

The BSE Sensex advanced nearly 54 points in opening trade today, spurred by a fresh spell of buying in select blue-chip stocks like Infosys, TCS and Sun Pharma amid mixed global cues.

Sustained buying by domestic institutional investors (DIIs) and short-covering of outstanding positions by speculators ahead of tomorrow’s June series expiry in the derivatives segment also supported the uptrend, brokers said.

Facebook said on Tuesday that it is taking steps to ease a January policy banning financial products and services associated with cryptocurrency. Rob Leathern, Product Management Director at Facebook, said in an official blog post that the world’s largest social media network has “looked at the best way to refine this policy — to allow some ads while also working to ensure that they’re safe.”

Life Insurance Corporation (LIC), the largest investor in state-owned lenders, continues to trim its exposure in most of them. On a quarter on quarter basis, the insurer has pared its investments in all state-run lenders, except Punjab & Sind Bank and Indian Bank.

While its holding in Indian Bank remained unchanged at 1.32% from the beginning of October 2017 to March 2018, LIC made a fresh investment in Punjab & Sind Bank, taking a 7.44% stake in the lender, data sourced from Capitaline revealed.

The Insurance Regulatory and Development Authority of India (Irdai) is expected to take a final decision on new reinsurance regulations in its board meeting scheduled on Friday. Sources in the insurance industry added the board will also look into giving out a few new licences to some new standalone health insurers and branches of some new foreign re-insurance players.

At a public hearing held by the office of the Director General of Trade Remedies (earlier known as Director General of Safeguards) on Tuesday, domestic solar equipment manufacturers asked the safeguard duty threshold to be raised to 95% on imported solar components. The Director General of Safeguards, after preliminary investigations, in December 2017 had proposed to impose a provisional 70% safeguard duty on solar cell imports for 200 days.

Functioning of a civilised society and that of humanity would dictate that we must help each other out whenever and wherever feasible. We were taught as kids that 'all Indians are my brothers and sisters', and there's no harm helping out a brother or sister in need. However, there is an active law in place that apparently does not want you to. Nitin Nair had to learn this the hard way when he attempted to help a group of people who needed help in commuting.

The US has asked all countries, including India, to stop all oil imports from Iran by November as it ruled out any exemption to India and Indian companies from its reimposed Iranian sanctions regime for them carrying out any transaction with Iran.

On China and India, yes, certainly, a state department official told reporters when asked if the US has told all countries, including India and China, to stop all their imports of Iranian oil by November 4.

Less than 24 months after formal roll-out, Reliance Jio has developed an impressive customer base of over 20 crore customers. It has reached the mark in record time at the end of May, now close on heels of Idea which has 21.7 crore customers and Vodafone which has 22.2 crore users.

Jio which had 100 million users on February 2017 has doubled its customer base on May 2018, according to a Financial Express report.

US e-commerce giant Amazon’s big push into fashion retail in the Indian market seems to be paying off, with the company on Tuesday announcing a jump of nearly two-and-a-half times in sales during the third edition of its Wardrobe Refresh Sale.

Arun Sirdeshmukh, business head of Amazon Fashion, said this was the biggest-ever sale for the company.

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