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Equities, rupee pare losses on hope Centre may roll back higher surcharge on FPIs
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Mumbai, Aug. 23 -- Indian stock markets and the rupee pared all losses on Friday after a Bloomberg report said the government may soon roll back surcharge on foreign investors.
The benchmark Sensex and Nifty fell nearly 1% to hit a six-month low, while the Indian currency weakened past the 72-per-dollar mark for the first time in 2019 to hit fresh eight-month low.
At 10.36am, Sensex was trading at 36516.92 point, up 0.13% from its previous close, while Nifty rose 0.11% to 10753.70 points. The domestic currency was trading at 71.85 a dollar, down 0.02%.
The government is working on steps to arrest the slowdown in the economy, Bloomberg reported quoting official. That may include an exemption for foreign portfolio investors (FPIs) from t...
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