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Tragic Plane Crash Claims Ajit Pawar: New Footage Raises Questions on Safety and Visibility | Mumbai News


A new CCTV video shows the plane carrying Maharashtra’s deputy chief minister Ajit Pawar crashing at high speed amid dense fog

MUMBAI: Another CCTV video of the tragic plane crash that killed Maharashtra deputy chief minister Ajit Pawar has emerged, showing the aircraft hitting the ground at high speed amid dense fog at Baramati Airport.The footage was released by NCP (SP) MLA Rohit Pawar during a press conference on Tuesday, adding fresh details to an incident that has shaken Maharashtra and raised questions about the circumstances of the crash.

CCTV Footage Shows Ajit Pawar Plane Slamming Into Ground Before Exploding Near Baramati Airport

The video shows the chartered Learjet 45, scheduled to fly from Baramati to Shamshabad and then to Patna, stalling before impact. A fire bomb erupted immediately after the crash.CCTV footage and local eyewitness accounts indicate visibility issues at the time, but Rohit Pawar has questioned whether technical negligence or other factors played a role.“This is the basic design of the aircraft. Ajit Dada would have been seated near the third window on the left side. There are messages in a group chat from the morning discussing visibility and flight arrangements. The captain received confirmation that visibility was ‘OK’ despite DGCA norms requiring at least 5,000 meters for takeoff,” Rohit Pawar said.Rohit Pawar described the emotional toll of the incident, saying, “I lost my uncle Ajit Dada Pawar in this crash. He was a political elder and a great leader for Maharashtra. Over the past 13 days, I have compiled information through various sources. This is a very personal matter for me, and I have shared the doubts I have in this presentation.”He also questioned the decision to attempt a landing at Baramati rather than diverting to the backup airport at Pune. According to Pawar, the aircraft had no technical permission for a ‘go-around’ and was scheduled for additional flights that day, raising concerns over whether the pilots were under pressure.During the press conference, Rohit Pawar presented slides alleging safety lapses by VSR Ventures, the charter company that owned the aircraft, and Arrow Company, which contracted the flight. He claimed the airline had violated maintenance schedules, pilot duty norms, and other safety regulations, citing past incidents, including previous crashes involving VSR aircraft. He also questioned the co-pilot and pilot decisions during the ill-fated flight.“The investigating agency should examine maintenance records. Why was this company allowed to operate despite prior crashes and violations? The CID handling the case lacks technical expertise for aviation investigation,” Pawar added.Earlier, the Aircraft Accident Investigation Bureau (AAIB) and the Directorate General of Civil Aviation (DGCA) launched a probe into the crash, which killed five people, including Ajit Pawar, the co-pilot, pilot, flight attendant, and a security officer. The case was initially registered as accidental death by Pune rural police and later transferred to the CID.Responding to the allegations, Capt VK Singh, owner of VSR Aviation, said, “It was a very unfortunate accident. Visibility was low, and the pilots could have diverted. The aircraft was airworthy.”Rohit Pawar has demanded that a foreign accident investigation agency, from countries like the US, UK, or France, be involved to ensure an independent and fair probe. He also shared the full presentation of his findings on social media, urging authorities to resolve all doubts surrounding the crash.“The questions raised are not rhetorical. Maharashtra has lost a leader, and until all doubts are clarified, we will continue to pursue this matter. We expect support from the state and central investigative agencies,” he said.(With agency inputs)

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Union Budget 2026-27: Infrastructure-led growth to strengthen real estate sector outlook


Union Budget 2026-27: Infrastructure-led growth to strengthen real estate sector outlook
Union Budget 2026–27 positions real estate as a downstream beneficiary of infrastructure-led growth. (AI image)

By Chintan Patel and Aman MehtaThe Union Budget 2026–27 reinforces a push towards infrastructure driven economic growth, setting a constructive backdrop for India’s real estate sector. While the budget does not introduce direct demand-side incentives for housing, its sharp focus on infrastructure, manufacturing, urban development and tourism is expected to create strong indirect momentum across residential, commercial, industrial and hospitality real estate segments.A key positive for the sector is the continued scale-up of public capital expenditure, with infrastructure outlay rising to INR 12.2 lakh crore from INR 11.2 lakh crore (FY 25-26). Sustained investment in transport networks and urban infrastructure is likely to unlock new real estate growth corridors, particularly beyond the traditional metro markets. The emphasis on strengthening Tier-2 and Tier-3 cities with populations exceeding five lakh recognizes their emerging role as economic centers and is expected to support incremental demand for various real estate asset classes in these locations.

Budget 2026 Signals Infra First Strategy With Public Capital Expenditure Raised To ₹12.2 Lakh Crore

The Budget has in addition also proposed the development of seven high‑speed rail corridors connecting major urban and economic centers, aimed at improving inter‑city mobility and acting as growth catalysts along peripheral and secondary micro-markets. In parallel, the creation of City Economic Regions (CERs) across Tier‑2 and Tier‑3 cities, backed by INR 5,000 crore investments per CER across five years, seeks to strengthen infrastructure and accelerate their transition into regional economic hubs, with positive implications for the real estate sector. Measures such as the proposed Infrastructure Risk Guarantee Fund and continued monetization of CPSE real estate assets through REIT structures are likely to improve private sector participation and liquidity within the infrastructure and real estate sector.The accelerated push toward manufacturing across sectors such as biopharma, electronics, chemicals, textiles, rare earths, and construction equipment is expected to significantly influence the industrial and logistics landscape. The expansion of manufacturing ecosystems, revitalization of legacy industrial clusters, and development of modern plug‑and‑play industrial parks will not only drive sustained long‑term demand for industrial land, warehousing and R&D infrastructure but also enhance the overall growth outlook for the real estate sector across multiple regions.The Budget underscores tourism‑led economic development with a focus on healthcare, heritage and eco‑tourism. Key proposals include the establishment of five regional medical hubs, development of 15 archaeological and heritage sites as experiential cultural destinations. Additionally, the proposal of Buddhist circuits across the North‑Eastern states is expected to strengthen spiritual tourism and support hospitality‑led regional growth.In the budget, while direct tax incentives remain limited, there is a stronger emphasis on a predictable, rules‑based tax regime aimed at resolving long‑standing procedural bottlenecks and transfer‑pricing disputes. This shift enhances investor confidence, lowers risk premiums for foreign capital, and supports more resilient financial markets. The Budget also introduces multi‑decade tax clarity for foreign cloud service providers, who are procuring data center services from India, ensuring non‑taxation on eligible cloud‑related income until 2047. Additionally, the introduction of a 15 per cent on cost safe harbor margin for Indian data‑center entities servicing overseas affiliates strengthens India’s positioning as a competitive hub for hyperscale cloud infrastructure. These measures are likely to attract long term capital into digital infrastructure including new entrants in the data center space.Tax compliance has been eased for resident buyers purchasing immovable property from non‑residents. The removal of the requirement to obtain a TAN, allowing TDS deposits through the buyer’s PAN, streamlines cross‑border transactions and reduces administrative friction.A notable aspect of the Union Budget 2026 was the continued absence of direct tax incentives for the residential real estate sector including on the homebuyer’s ask for increasing the INR 2 lakh cap on interest deduction for self-occupied properties. Despite long‑standing industry expectations, the Budget did not introduce any new exemptions, relief, credit of GST paid on inputs by developers or confer infrastructure status to the real estate sector, measures that stakeholders have consistently advocated to boost sectoral growth.Overall, the Union Budget 2026–27 positions real estate as a downstream beneficiary of infrastructure-led growth. While near-term residential stimulus may be limited, the structural measures announced provide a strong foundation for a geographically diversified and long-term expansion of the sector.(Chintan Patel is Partner- Deal Advisory and Head of Real Estate & Hospitality and Transport & Logistics, KPMG in India and Aman Mehta is Vice President – M&A Consulting, KPMG in India)



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Nick Jonas says he and Priyanka Chopra are raising Malti Marie with Hindu values: ‘My faith has evolved and changed’ |


Singer Nick Jonas, who is currently on a press run promoting his album Sunday Best, has opened up about how Indian culture and Hindu values have become central to his family life with wife Priyanka Chopra Jonas and their daughter, Malti Marie Chopra Jonas. During a recent interview, the singer spoke about parenting, spirituality, and how Hindu philosophy has reshaped his worldview.

‘We are raising our daughter to have real Hindu values’

Appearing on The Zach Sang Show, Nick revealed that learning about Hinduism has deeply influenced both his spirituality and the way he and Priyanka are raising their daughter. “It’s been pretty incredible. I have learnt a lot about Hinduism, which is amazing. It’s profound and beautiful,” he said.

Priyanka Shares Heartwarming Video Of Nick Jonas Pampering Her

Talking about the values they are instilling in Malti, Nick added, “The practice of karma and doing unto others as you would like to have done with you… And good things coming back to you is beautiful. We are raising our daughter to have real Hindu values and understanding of that.”Reflecting on his own spiritual journey, he said, “My faith has evolved and changed, and it is very strong and an important part of who I am.”

Fatherhood has ‘shifted my worldview’

Nick also shared how becoming a parent has changed the way he looks at life. “Becoming a parent has completely shifted the worldview on everything,” he said.Describing everyday moments with Malti, he explained, “The first time a little mind has experienced something, it is wild. It can be something very emotional or something like ‘Why is the glass clear?’ You just sit there trying to think of ways to explain things that you have just accepted. There are laws and rules, and we have accepted them.”

Writing music with Malti in mind

The singer admitted that fatherhood now influences his music as well. “Meeting a prickly thing with empathy and softness has been the most fascinating part of being a parent,” Nick said, adding, “I am writing about things now that I want to explain to her. She’s going to be listening, and I can’t unthink that.”He also shared a sweet detail about Malti enjoying his performances. “She loves our song ‘Love Me to Heaven,’ and we always play it during the beginning of the set. There are these great videos of her at side-stage with Priyanka holding her dress, because she just wants to run up and join us.”

Priyanka Chopra Writes ‘Nicholas’ In Her Karva Chauth Mehndi With Daughter Malti

India and its traditions changed his life

Nick spoke warmly about his connection to India since marrying Priyanka Chopra in 2018, revealing that many Indian traditions are now part of his life. “It was magic when I went to India for the first time, and I got to spend time with her friends and family and experience the culture in a more meaningful way,” he said.He added, “Some of my favourite traditions and holidays are now Indian traditions and holidays. Some of my favourite memories in life are either based in India or India adjacent.”

A faith journey that continues

Interestingly, Nick Jonas was raised in a religious household — his father was an ordained minister at an Assemblies of God church. Nick has often spoken about watching his father preach while he and his brothers sat in the front row, making his evolving spiritual path both personal and ongoing.



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Sri Lanka star Wanindu Hasaranga ruled out of T20 World Cup 2026; replacement announced



Sri Lanka‘s T20 World Cup 2026 campaign has suffered a major setback with star all-rounder Wanindu Hasaranga ruled out of the remainder of the tournament due to injury. The co-hosts confirmed the development after the wrist-spinner sustained a left hamstring strain during their opening clash against Ireland in Colombo.

The injury has not only disrupted Sri Lanka’s balance but also dealt an emotional blow to a squad that heavily relies on Hasaranga’s match-winning abilities with both bat and ball.

Grit on display despite visible discomfort for Wanindu Hasaranga

Hasaranga picked up the injury during Sri Lanka’s first match against Ireland at the iconic R. Premadasa Stadium on Sunday (February 8). After bowling just one over, the 28-year-old was seen leaving the field in visible discomfort, clutching his left hamstring.

What followed, however, underlined his commitment to the national cause. Despite struggling physically, Hasaranga returned to complete his full quota of four overs. Battling pain, he produced a decisive spell of 3 for 25, playing a key role in Sri Lanka’s 20-run victory. His wickets broke Ireland’s momentum at crucial junctures and showcased his fighting spirit.

Yet, it was clear that something was amiss. Observers noted a dip in his usual agility and sharpness in the field. Medical assessments after the game confirmed that the injury would require sufficient recovery time, effectively ruling him out of the remainder of the tournament.

A towering presence in Sri Lanka’s T20 setup

Hasaranga’s absence leaves a significant void in Sri Lanka’s lineup. Over the years, he has emerged as the heartbeat of their T20I attack. With 154 wickets in 95 matches, he stands as Sri Lanka’s leading wicket-taker in the shortest format — a testament to his consistency and impact.

His performances on the global stage have been particularly remarkable. He topped the wicket charts in consecutive T20 World Cups, claiming 16 scalps in 2021 and following it up with 15 in 2022. Those campaigns cemented his reputation as one of the premier leg-spinners in world cricket.

Beyond numbers, Hasaranga’s ability to break partnerships in the middle overs and contribute handy runs lower down the order makes him a rare all-round package. Losing such a player midway through a major tournament inevitably forces a tactical reshuffle.

Also WATCH: T20 World Cup 2026 – Maheesh Theekshana castles Paul Stirling with deadly yorker; unleashes iconic ‘archer’ celebration during SL vs IRE clash

Replacement announced for the ace spinner

The ICC’s technical committee has approved fellow leg-spinner Dushan Hemantha as Hasaranga’s replacement for the remainder of the event.

Hemantha, though relatively inexperienced at the highest level, brings promise and recent international exposure. He has featured in five ODIs and three T20Is for Sri Lanka, picking up six wickets across those appearances. His most recent outing came during Sri Lanka’s tour of Zimbabwe in September ahead of the Asia Cup, where he impressed with figures of 3 for 38 in the final ODI of the series.

Team management will now hope that Hemantha can rise to the occasion and shoulder the responsibility in a high-pressure tournament environment.

Also READ: Fans react after Sri Lanka begin T20 World Cup 2026 with win over Ireland as Maheesh Theekshana and Wanindu Hasaranga star with ball



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JP Morgan’s note to investors on software companies: You are over reacting; we believe …


JP Morgan's note to investors on software companies: You are over reacting; we believe ...

Strategists at America’s biggest bank JP Morgan have recently shared a note to investors, saying the sharp fall in software stocks may be excessive and could be driven by fears that are not fully supported by current business conditions. In its note to investors, the bank said that markets are pricing in near-term disruption from artificial intelligence at levels that appear unrealistic, creating room for software shares to recover. The strategy team, led by Dubravko Lakos-Bujas at JPMorgan Chase & Co., said investors could increase exposure to higher-quality software companies that are seen as more resilient to AI-related changes. “Given the positioning flush, overly bearish outlook on AI disruption of software and solid fundamentals, we believe the balance of risks is increasingly skewed towards a rebound,” the team wrote in a note. According to the note, recent price movements in the sector have been extreme, which could allow a rotation back into software stocks in the short term.

Software shares sell off after Anthropic’s AI tool launch

Recently, software shares declined after Anthropic unveiled its latest AI tool hit by a major sell off over concerns that new AI tools could weaken traditional software-as-a-service businesses. The selloff affected companies across the sector, including those with existing AI partnerships or access to proprietary data. The decline has pushed the S&P Composite 1500 Software Index to its lowest level since the market volatility seen in April.JP Morgan pointed to companies such as Microsoft and CrowdStrike Holdings as examples of firms that could benefit from AI by improving workflows rather than being disrupted by it. The bank said long-term enterprise contracts and high switching costs could limit short-term risks for these businesses.The note added that it remains uncertain whether AI will replace traditional software companies over the long term. However, current market sentiment appears more negative than warranted at this stage. JP Morgan said recent quarterly results from software firms have been largely stable, and analysts are forecasting earnings growth of 16.8 percent for the sector in 2026.

19 software stocks are ‘AI resistant’

In a related news, JP Morgan analysts have shared a list of software stocks that it thinks are ‘AI resistant’. These are:

  • Microsoft
  • CrowdStrike
  • Twilio
  • Okta
  • ServiceNow
  • Palo Alto Networks
  • Zscaler
  • Check Point Software
  • SentinelOne
  • Snowflake
  • Datadog
  • Veeva Systems
  • Guidewire Software
  • CoStar Group
  • Tyler Technologies
  • JFrog
  • SailPoint
  • Netskope
  • Q2 Holdings



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BHEL shares plunge 6%! Why is the stock falling after Rs 4,422 crore OFS opens for subscription?


BHEL shares plunge 6%! Why is the stock falling after Rs 4,422 crore OFS opens for subscription?

Shares of Bharat Heavy Electricals Ltd (BHEL) fell 6% in early trade on Wednesday, after the government announced an Offer for Sale (OFS) to reduce its stake in the company. On NSE, the BHEL stock was down 16 points or 5.80% to 260.10 at 11:20 am. On the Bombay Stock Exchange, the share price was 5.74% down to 260.2, sheding 15 points.The Centre plans to sell up to 5% of its holding and may raise about Rs 4,422 crore if the entire offer is subscribed at the floor price. The floor has been fixed at Rs 254 per share, which is 8% lower than Tuesday’s closing price of Rs 276.05.The sale will start with a 3% stake, however, the government can sell an additional 2% through a greenshoe option, in case the issue is oversubscribed. The base offer includes more than 10.44 crore shares, while the extra portion covers over 6.96 crore shares. In total, 17.41 crore shares could be sold.Non-retail investors can bid on Wednesday while retail investors will get their chance to bid on Thursday, according to ET. The government currently holds 63.17% in BHEL but may fall depending on how much of the OFS is taken up.With this transaction, the Centre’s total disinvestment proceeds from public sector undertakings in the current financial year stand at Rs 8,768 crore.The stake sale comes after BHEL posted a strong set of numbers for the quarter ended December 2025. The company reported a net profit of Rs 382 crore, compared with Rs 125 crore in the same period last year — a rise of 206% year on year. The improvement was driven by better execution and operating leverage.Revenue from operations increased 16% to Rs 8,473 crore from Rs 7,277 crore a year earlier, pointing to improved project work and a stronger order pipeline. Total income, including other income, rose to Rs 8,700 crore from Rs 7,393 crore in the year-ago quarter.



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TOI Exclusive | Coming soon: A rebel wrestling league by the rebels | More sports News


TOI Exclusive | Coming soon: A rebel wrestling league by the rebels
Bajrang Punia (ANI Photo)

Wrestlers, who protested against ex-WFI chief Brij Bhushan, plan to launch a rebel professional league in November NEW DELHI: Tokyo Olympics bronze medallist Bajrang Punia and his wrestler wife Sangeeta Phogat, a 2018 Gold Coast CWG medallist – the two prominent faces of the landmark sit-in protest against former national federation (WFI) chief and sexual harassment accused Brij Bhushan Sharan Singh, are all set to bring a rebel international wrestling league in November this year. Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!The professional league, which will be known as ‘Orka Wrestling League’, are likely to feature other notable wrestlers, who were part of the agitating group against Brij Bhushan, including two-time world championships medallist Vinesh Phogat, Rio Olympics bronze winner Sakshi Malik and 2016 Commonwealth champion Satyawart Kadian, among others. Speaking to TOI from Sonepat, Bajrang, who will helm the league as the Chief Wrestling Officer (CWO), informed the eight franchise-based global teams will compete in the inaugural edition in a nearly month-long tournament, tentatively planned to begin around Nov 20. “Yes, it’s true, we (Bajrang and Sangeeta) are coming up with our own international league. It will begin in Nov this year. The registration of wrestlers will open in Aug, and we will have an IPL-style auction event either in Sept end or Oct beginning. All our brothers and sisters from the wrestling community are welcome to play in the league. It will be a big event. There will be huge sponsorship money involved, and the winning team and wrestlers will be handsomely rewarded. It will be a mixed-gender wrestling competition. The inaugural edition is likely to happen in India at one of the major cities. The modalities are being worked out. We will make an announcement soon,” Bajrang, a four-time World Championships medallist, said. “We are not afraid of what the Wrestling Federation of India (WFI) thinks about our league. The federation is running its own league, Pro Wrestling League (PWL). They have recognition from the national federation and sport’s global body, UWW. But our league is a global event with a strong India presence. If the WFI wants to look at our league from the point of rivalry or see it as a direct challenge to the PWL…then let it be. They can’t stop us from running our league. Several India wrestlers are in touch, and they have expressed desire to compete. Our doors are open to everyone. Our league provides recognition at professional level and financial security. Let Brij Bhushan or Sanjay Singh (WFI’s current president) think whatever they want to,” he added. A top WFI office-bearer told TOI that the federation is aware of the development and soon a diktat will follow for the country’s wrestlers, who are enrolled with the WFI and are part of the national set-up, to avoid dealing with an “unsanctioned and illegal” league. “We will take appropriate action when the time comes. Let Bajrang or Sangeeta come up with this league. This is an unsanctioned and illegal league. PWL is the WFI backed-official league. We will warn our coaches, technical officials and referees from tying up with that league,” the office-bearer said. According to Bajrang, the total money a franchise can spend on buying a team will be around Rs four crore. “Each franchise will have a total of 12 wrestlers, six men and six women, and all of them will compete in Olympic weight categories. To start with, the league will begin with men’s and women’s freestyle competitions, and greco-roman events will be added later. For men, the competition will happen in 57kg, 65kg, 74kg, 86kg, 97kg and 125kg. The women participants will compete in 50kg, 53kg, 57kg, 62kg, 68kg and 76kg. There will be a total of eight international teams. The USA-based Orka Sports are the major stakeholders. We (Bajrang and Sangeeta) collaborated with them. Sangeeta has joined as a Director, Women’s Wrestling and Athlete Welfare,” he said. Each wrestler will be drawn in an auction pool. The wrestlers will be graded in four categories – Grade A being the highest, and then Grade B, C and D. Grade A will have the highest base price of $35,000, followed by $25,000 (Grade B), $15,000 (Grade C) and $6,000 (Grade D). Bajrang said he himself won’t play in the league, since he is the league’s CWO and part of the organising committee. Bajrang is also facing a four-year ban from the National Anti-Doping Agency (Nada) for refusing to provide his urine sample during the selection trials for the national team held in Sonepat on March 10, 2024. He was banned for four years by Nada’s disciplinary panel (ADDP) on Nov 26, 2024 and his suspension period ended in Nov 2028. He has challenged the ADDP’s decision before the Nada’s Anti-Doping Appeal Panel (ADAP), and the matter is currently being heard. Teams:

  • Atlas Titans (USA)
  • Indra Warriors (India)
  • Neo-Tokyo Dragons (Japan)
  • TrueNorth Titans (Canada)
  • Libre Vanguard (Cuba)
  • Britannia Brawlers (United Kingdom)
  • Rio Rumble (Brazil)
  • Arabian Titans (Middle East)

The ‘OWL’ Lowdown:

  • Eight Franchises
  • Rs 4 crore purse each franchise’

Contracts:

  • Grade A – $35,000
  • Grade B – $25,000
  • Grade C – $15,000
  • Grade D – $6,000



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‘Don’t think Salman Khan has the courage to refuse’: SP MP Abu Azmi jibes at actor over RSS event | India News


'Don't think Salman Khan has the courage to refuse': SP MP Abu Azmi jibes at actor over RSS event

NEW DELHI: Samajwadi Party leader Abu Azmi on Tuesday launched a sharp attack on actor Salman Khan over his presence at the RSS’s 100th anniversary celebrations, alleging that the Bollywood star may have attended the event under pressure. He also claimed that the actor lacks the courage to refuse to an invitation sent by the ruling establishment.Speaking to reporters, the SP MLA suggested that Khan, as a public figure, may not have had the freedom to decline an invitation associated with those in power. “I understand that Salman Khan is an actor, and he has to live with respect in the country. If people on the ruling side say something, I don’t think Salman Khan has the courage to refuse. He must have gone there under government pressure,” Azmi said, hinting at coercion behind the actor’s appearance.

Mohan Bhagwat Credits RSS Grind For BJP’s Success, Draws Line Between Sangh And Political Power

Azmi’s remarks came after Salman Khan attended the RSS Mumbai Vyakhyanmala event on Saturday, part of a two-day lecture series titled “100 Years of Sangh Journey: New Horizons.” The actor’s presence at the event has since sparked a political debate, drawing reactions from leaders across party lines.Defending Khan, Maharashtra Deputy Chief Minister Eknath Shinde dismissed the controversy and urged political leaders not to politicise the issue. He said there was nothing unusual about the actor attending the programme, emphasising that Khan, as an Indian citizen, had every right to be present at such events.“Whether Salman Khan went to an RSS programme or not, why should this even be questioned? Salman Khan is an Indian citizen. He follows Indian culture — Ganpati comes to his house, and his entire family believes in these traditions. I don’t think there is anything wrong with this. In fact, it is absolutely right,” Shinde said, adding that unnecessary politics should not be made out of the matter.

Maharashtra minister Nitesh Rane also came out in support of the actor, while trading barbs on Shiv Sena (UBT) chief Uddhav Thackeray.

Rane claimed, “Salman Khan is more of a Hindu than Uddhav Thackeray. He had the courage to attend the RSS program.”





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Rupee today: Currency dips 6 paise to 90.62 against US dollar


Rupee today: Currency dips 6 paise to 90.62 against US dollar

Rupee opened weak on Wednesday, falling 6 paise to 90.62 against the US dollar amid ongoing geopolitical worries and steady demand for the greenback from importers.Trading at the interbank foreign exchange market began with the rupee at 90.56 per dollar. As the session progressed, the local unit weakened to 90.62, lower than its previous finish. Earlier in the morning, it had also touched a high of 90.46 against the American currency.In the previous session on Tuesday, the currency had managed to reverse its early weakness and close 10 paise stronger at 90.56.CR Forex Advisors MD Amit Pabari said in a note, “In the near term, the 90.00–90.20 zone continues to act as a strong support for the rupee. As long as this area remains intact, USD/INR could slowly move higher, with the 91.00–91.20 range emerging as the next potential upside zone in the coming sessions.”Meanwhile, the dollar index, tracking the US currency against six peers, slipped 0.14% to 96.66.Oil prices edged higher, with Brent crude futures up 0.78% at $69.34 a barrel. Given India’s dependence on imported crude, rising prices expand the import bill and typically weigh on the rupee over time, Pabari noted.Indian equities opened in positive territory. The Sensex climbed 141.21 points to 84,415.13, and the Nifty added 51.95 points to reach 25,987.10.According to exchange figures, foreign institutional investors were net buyers on Tuesday, picking up equities worth Rs 69.45 crore.



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