"BJP seeking help from cinema leaders as they do not have political leaders”, Cong takes dig at BJP
Bengaluru: Bengaluru is abuzz with discussions and debates after actor Sudeep announced his plans to campaign for Chief Minister Basavaraj Bommai in the upcoming assembly elections. While the BJP and its supporters have welcomed Sudeep's decision, the opposition Congress has taken a jibe at the ruling party's reliance on actors for its election campaign.
Taking to Twitter, Congress mocked the BJP for lacking charismatic leaders and accused them of hiding the face of former Chief Minister BS Yeddyurappa. The party also pointed out that the BJP's reliance on cinema stars is a clear indication that they do not have political leaders capable of winning the elections on their own.
The Congress in its tweet asserted that the BJP and CM Bommai have both realized they cannot bank on the aura of PM Modi or CM Bommai to poll votes for the party and have surrendered to movie actors to get them votes.
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Rupee falls to record low of 86.04 against US dollar, settles 18 paise lower
Mumbai, Jan 10: The rupee declined 18 paise to breach the 86-mark against the US dollar for the first time on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds.
The local unit settled at 86.04 against the US currency.
Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down on the Indian currency, forex traders said.
Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president on January 20.
At the interbank foreign exchange, the rupee opened at 85.88, hit the intra-day peak of 85.85 before breaching the 86-mark to settle at the lowest-ever level of 86.04 against the greenback, 18 paise lower from its previous close.
On Thursday, the rupee gained 5 paise to settle at 85.86 against the US dollar, recovering from the steep decline of 17 paise in the preceding session.
Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee hit another record low as domestic markets continued to slide and FIIs outflows sustained. A strong US dollar and surge in crude oil prices also pressured the rupee.
"Weak tone in the domestic markets, a strong greenback and persistent FII outflows may continue to put downside pressure on the rupee. Rising crude oil prices, as well as surge in the US treasury yields may further weigh on the domestic unit.
"However, any RBI intervention may support rupee at lower levels. Traders may take cues from the non-farm payrolls report and consumer sentiment data from the US. USD-INR spot price is expected to trade in a range of Rs 85.80 to Rs 86.15," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 109.01. The 10-year US bond yields also rose to its April 2024 level at 4.69 per cent.
Brent crude, the global oil benchmark, surged 1.96 per cent to USD 78.43 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex declined 241.30 points, or 0.31 per cent, to settle at 77,378.91 points, while the Nifty dropped 95.00 points, or 0.40 per cent, to 23,431.50 points. The indices have been on the downward track for the past three sessions.
Foreign institutional investors (FIIs) offloaded Rs 2,254.68 crore in the capital markets on a net basis on Friday, according to exchange data.
The latest government data released on Friday showed the country's industrial production (IIP) growth accelerated to a six-month high of 5.2 per cent year-on-year in November 2024, riding on the increased festive demand and pick up in manufacturing sector.
