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Snapdeal to Invest $100M in its Mobile-Only Zero Commission Marketplace Shopo

Snapdeal had acquired Shopo.in a couple of year back, and now the eCommerce firm will invest $100 million to enhance technology and expand the Shopo brand. Shopo was launched about 2 months back, developed by a 14-member team, it is a mobile-only marketplace that works on on a zero commission model for vendors. It aims to bring small and medium businesses (SMBs) online, and already ...

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Sensex posts biggest weekly drop in nearly four years

Indian equities slid to near 14-month lows on Friday, with the benchmark indices retreating more than 2% and posting their steepest weekly loss in nearly four years, as caution ahead of a key US jobs data spooked global markets. The benchmark BSE Sensex’s weekly fall 4.5%, was the biggest weekly fall since November 2011. On Friday, the 30-share Sensex tanked ...

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China cuts interest rates after days of market turmoil

China has cut its main interest rate to boost growth in its economy. The People’s Bank of China cut its main interest rate by 0.25 percentage points to 4.6% after two days of stock market turmoil. It is the fifth interest rate cut since November and will take effect on Wednesday. The move has boosted European share prices further, with ...

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Sensex rebounds 291 pts; rupee at 66/$ on China rate cut

Equity benchmarks saw relief rally amid intense volatility on Tuesday after a massive 6 percent crack seen in the previous session. Short covering and strong recovery in European markets & US futures lifted sentiment but the further crack in major Asian markets like China and Japan capped the upside. Meanwhile the currency gained past 66 a dollar intraday after sudden ...

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Why Global Financial Markets Are Going Crazy

Now it’s starting to get scary for everyone. An 8.5 percent drop in the Shanghai Composite index in Monday’s trading session spread to financial markets across the world. In the United States, the broad Standard & Poor’s 500 index was down 2.5 percent in Monday morning trading, after steeper declines in Asian and European stock markets, falling prices for oil ...

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Sensex sinks 1624 pts, Nifty ends at 7809 on global turmoil

The market breadth was pathetic as about 2477 shares declined against 318 shares advanced on the Bombay Stock Exchange. Today’s carnage wiped out more than Rs 7 lakh crore market capitalisation. The Nifty managed to hold 7800 level after hitting day’s low of 7769.40. The index fell 490.95 points or 5.92 percent to 7809. The market breadth was pathetic as ...

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Rupee hits fresh two-year low, down 65 paise to open at 66.47 against dollar

Mumbai: Indian rupee has touched a fresh two-year low in early trade on Monday following sharp sell-off in global markets as investors worldwide worried about Chinese economy. The currency has opened at 66.47 per dollar, the lowest level for the first time since September 2013, down 65 paise compared to 65.83 a dollar seen at Friday’s close. Agam Gupta, StanChart ...

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Sensex Crashed

The market opened on Monday with big gap down on carnage across the globe as investors worried over Chinese economic growth. The Sensex fell over 1,000 points to 26,359.53; and the Nifty also dipped below the 8,000-level by tumbling 309.05 points, or 3.72 per cent to 7990.90 in early trade. All 50 constituents of Nifty were in red. Here are ...

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