A look at the headlines in the sector right now:
- Sensex closes 118.93 points down after opening at record high, Nifty near 9,600: The markets declined after negative trends in global stock exchanges because of the West Asia diplomatic crisis.
- Azim Premji refutes report saying Wipro promoters might sell holdings: The IT-service company’s chairperson said the report was ‘baseless and malicious’.
- H-1B visas: US granted 37% fewer approvals to top seven India-based firms in 2016, says report: A report by the National Foundation for American Policy attributed the decline to the prioritising of new technologies and not President Trump’s policies.
- Adani gives go-ahead to controversial coal mine project in Queensland: The company said the Carmichael project would create 10,000 direct and indirect jobs.
- Retailers offer big discounts to clear old inventories before GST is rolled out on July 1: They believe they would make a loss of about 6% on unsold stock purchased before May, and around 14% those purchased one year ago.
- Monetary Policy Committee meet begins, RBI likely to hold interest rate constant: The government has made a case for a lower interest regime citing low inflation.
- China talks to Russia on India’s bid for NSG entry, but says its position unchanged: External Affairs Minister Sushma Swaraj had on Monday said that India is engaging with Moscow and making efforts to convince Beijing on the issue.