MUMBAI: Indian shares closed lower on Tuesday, giving up more than 1 percent gains made during the day, as investor sentiment soured in global markets, while the rupee hit a fresh record low on concerns of a bigger current account deficit.
The NSE Nifty 50 index ended down 0.15 percent at 15,810.85, while the S&P BSE Sensex dropped 0.2 percent to 53,134.35. Both the indexes had gained over 1 percent in morning trade.
The slide in the value of the Indian rupee continued on Tuesday, and it closed at 79.37 against the US dollar on June 5.
India to address volatility of Indian rupee against dollar
India is trying to “address volatility” in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said on Monday, amid concerns of a widening trade deficit and sell-off of assets by foreign investors.
The rupee has plunged 6 percent against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from the domestic share markets.
Twitter pursues judicial review of Indian content takedown orders
Twitter is seeking to overturn some Indian government orders to take down content, a source familiar with the matter said, in a legal challenge which alleges abuse of power by officials.
The US social media company's attempt to get a judicial review is part of a growing confrontation with New Delhi over content regulation. Twitter was warned by India's Information Technology Ministry of criminal proceedings if it did not comply with some orders.
Twitter has been asked by Indian authorities over the past year to act on content including accounts supportive of an independent Sikh state and on dozens of tweets that were critical of the government's handling of the COVID-19 pandemic.
India's IT ministry did not immediately respond on Tuesday to a request for comment about Twitter's legal move.
(With inputs from Reuters)
