Business

The broader 50-issue NSE Nifty breached the 8,100-mark to hit session's high of 8,136.85.

Data on Friday is expected to paint a grim picture of the economy and could reinforce doubts about the health of the world's fastest growing major economy.

The Reserve Bank allowed non-resident Indians (NRIs) to invest in chit funds on non-repatriation basis without any ceiling, a move that will encourage flow of capital into the country.

The Reserve Bank of India became a net purchaser of US dollars in the first month of current fiscal after it net bought USD 5.431 billion from the spot market.

Weakness of the dollar in the overseas market boosted the rupee value against the dollar, forex dealers said.

Pitching for a better ranking on ease of doing business for India, government officials on Tuesday apprised the World Bank about various reform measures taken in the past one year including relaxation in company laws.

Country's largest lender State Bank of India on Friday said it will be selling its distressed assets through an online auction on June 12.

The wholesale price index based inflation hit a new low of (-)2.65 per cent in April, as deflationary pressures continued for the sixth month.

Mahesh Sharma said, "Airlines cannot be allowed to have predatory prices."

The SpiceJet offer, which was announced on Tuesday, is valid till midnight on Thursday and tickets can be booked for travel between July 1 and October 15.

The government will also strive to eliminate discretions and maintain the speed of reforms, Jaitley said in an interview.

The Finance Minister Arun Jaitley on Thursday gave clarifications on issues like the Income Tax Return form, the Minimum Alternate Tax (MAT) levied to FIIs as well as overall growth projection.

"India's economic growth is expected to rise to 7.5 per cent in 2015-16, followed by further acceleration to 7.9 per cent in 2016-17 and 8 per cent in 2017-18," the World Bank said.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also provisionally closed 31.40 points or 0.37 percent down at 8,398.30 points.

The benchmark BSE Sensex gained over 151 points in early trade on value-based buying by investors amid positive cues from other Asian markets.

Forex dealers said fresh demand for the dollar from importers also weighed on the local currency but a higher opening in the domestic equity market limited the rupee's losses.