SENSEX FALLS FOR 5TH DAY ON RISING CRUDE PRICES, RUPEE WOES

NEW DELHI: The benchmark BSE Sensex on Tuesday lost about 155 points to close at an over twoweek low of 38,157.92 points, falling for the fifth session in a row following sustained foreign fund outflows, surging global crude oil prices and tumbling rupee against dollar. The rupee on Tuesday crashed to a fresh record low of 71.54 against the US dollar intra-day, weighing on investors sentiment. A widespread selling emerged in consumer durables, PSUS, infrastructure, realty, FMCG, telecom, utilities, power, metal, auto, healthcare, banking, oil and gas, capital goods and finance. Among the losers were Asian Paints, SBI, Adani Ports, HUL, Coal India, Indusind Bank, Vedanta, Tata Motors, Hero Motocorp, Bharti Airtel, Yes Bank, ONGC, ICICI Bank, Tata Steel, Bajaj Auto, M&M, ITC, Kotak Bank, HDFC Bank,

NTPC, Maruti Suzuki, Powergrid, L&T and Sun Pharma, shedding up to 3.49%.

In July, Indian firms’ foreign investments declined 36%

MUMBAI: Investments by Indian companies in their overseas ventures fell by more than 36% to $1.39 billion in July this year, the Reserve Bank data showed. India companies had invested $2.17 billion in their overseas subsidiaries and joint ventures in the form of loan, equity and issuance of guarantee in July 2017. In June 2018, domestic firms invested in $2.07 billion in their ventures located out of India. Of the $1.39 billion invested in July this year, $608.52 million was the equity capital, $406.74 million was through loan and $371.86 million came in the form of issuance of guarantees. Among major investors, Serum Institute of India Pvt. Ltd invested $187.39 million in its wholly-owned subsidiary in the Netherlands.

Suzuki Motor exits China as buyers favour SUVS

TOKYO/BEIJING: Suzuki Motor Corp., the Japanese manufacturer known for its minicars, exited China as consumers in the world’s biggest auto market shifted purchases to larger sedans and sport utility vehicles. Suzuki agreed to transfer its 50 percent stake in Changan Suzuki -- its last remaining Chinese venture -- to Chongqing Changan Automobile Co. as soon as legal proceedings are completed, according to a statement Tuesday. Changan will continue to make and sell Suzukibranded cars in China under a license. The retreat from China after a quarter of a century follows an exit from the U.S. car market in 2012 after three decades there. The maker of the

Swift and Wagon R continues to be a dominant force in India, one of the world’s fastest-growing major car markets, with its local entity Maruti Suzuki selling about one of every two cars in the country of 1.2 billion people.

Amazon India launches Hindi website, app

NEW DELHI: Amazon India on Tuesday said it’s platform will also be available in Hindi, as the e-commerce major aims to bring the next 100 million shoppers online. The launch will enable shoppers in India to enjoy the ease and convenience of Amazon’s shopping experience in Hindi, Amazon India vice president, category management Manish Tiwary told reporters. Customers can read detailed product information, find deals and discounts, place and pay for their orders, among other things, he added.

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