MUMBAI: Indian shares jumped about 1 percent on Thursday after a four-session slide, with financials leading the recovery after the US Federal Reserve hiked rates as expected to control rising inflation.
The NSE Nifty 50 index pared initial gains and was up 0.8 percent at 15,814.5, as of 0358 GMT, while the BSE index rose 0.8 percent to 52,996.9.
May trade deficit widens to $24.29 billion
India’s May trade deficit widened to $24.29 billion from $6.53 billion a year ago, a government statement said on Wednesday.
May’s trade deficit was pushed up by a surge in imports, which rose 62.83 percent year-on-year to $63.22 billion, while exports rose 20.55 percent to $38.94 billion, revised trade data released by the Ministry of Commerce and Industry showed.
Tesla India policy executive quits
A key executive who was leading Tesla’s lobbying effort in India has resigned, weeks after the US carmaker put on hold plans to sell electric cars in the South Asian nation, two sources aware of the matter told Reuters.
Manuj Khurana, policy and business development executive at Tesla in India, was hired in March 2021 and played a key role in forming a domestic market-entry plan for the US carmaker in the country.
(With input from Reuters)
