Thousands of schools have suspended classes due to the heat, affecting more than 3.6 million students, education ministry data shows
The Indian rupee gained 13 paise on Tuesday morning to 72.83 against the dollar (19.84 versus the UAE dirham), helped by a rise in the Indian equity markets, weakness of the US currency, and a sharp drop in new daily Covid-19 cases in the country.
“The US dollar index has started on a weaker note in Asian trade as fresh insistence from Federal Reserve officials that policy would stay on hold allayed investor fears about inflation forcing interest rates higher,” the Reliance Securities said in a note on Tuesday.
The US Dollar Index that tracks the greenback against a basket of other currencies edged down 0.11 per cent to 89.743 by 8.44 am UAE time.
The Indian equity markets also opened on a strong note with the 30-share BSE Sensex trading 171.84 points or 0.34 per cent higher at 50,823.74. Meanwhile, the broader 50-share NSE Nifty advanced 67.40 points or 0.44 per cent to 15,265.10.
The decline in new Covid-19 cases also helped the Indian markets.
On Tuesday, India reported 196,427 new coronavirus cases over the last 24 hours, its lowest daily rise in infections since April 14. As many as 3,511 fresh deaths were also reported.
waheedabbas@khaleejtimes.com
Thousands of schools have suspended classes due to the heat, affecting more than 3.6 million students, education ministry data shows
Despite the growing market share of domestic automakers, Teslas remain among the best-selling EVs in the Asian country
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
Modi, 73, remains resoundingly popular after a decade in office, and he is widely expected to win a third term
With over seven years of experience in branding and social media, and three years in motion graphics and editing, Arkan's expertise spans a wide range of creative domains
Names of leading brands in various sectors revealed in a new report by Brand Finance
Four workers died when the drone struck a condensate storage tank at Khor Mor Complex, Dana Gas said in a statement to the ADX
Experience the future of comfort and convenience with innovative smart furniture, elevating your lifestyle through seamless integration of technology and design