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The Nifty Pharma index closed 0.16 per cent down at 15103.85.

Bharti Airtel and Vodafone Idea have requested the Supreme Court to hear their curative petitions against an earlier order in the "open court." The telecom companies are seeking rectification of alleged arithmetical errors in the calculation of adjusted gross revenue (AGR) dues by the Department of Telecommunications. The operators argue that the previous judgement resulted in a "gross miscarriage of justice." They are specifically seeking the setting aside of penalties and interest on penalties in the provisional demands raised by the DoT. The AGR dues amount to a total of INR 1.47 lakh crore ($20 billion).

The escalating conflict between Israel and Palestine has led to an increase in gold prices, prompting Indian consumers to sell their gold holdings in order to take advantage of the spike. Industry executives predict that gold prices could rise further if the conflict deepens. Jewellers such as Senco Gold & Diamonds and Tanishq have reported a significant increase in their gold exchange business as consumers opt to exchange their old gold jewellery for new ornaments.

Last week, the bank informed exchanges that it has scheduled a board meeting on October 11, to discuss amongst other matters, the approval of fund-raising through the issuance of long-term bonds for financing of infrastructure and affordable housing.

The Sensex dropped 483.24 points, or 0.73%, to close at 65,512.39 while Nifty declined 141.15 points, or 0.72%, to close at 19,512.35.

Jain, 52, assumed the new role on Monday, the company said in a statement. The position had been vacant for about a year since Sandeep Gupta, Jain’s predecessor, left Indian Oil to join GAIL as chairman last year.

Professional forecasters, essentially economists surveyed by the Reserve Bank in September 2023 expect headline CPI inflation to moderate from 6.6 per cent in September quarter to 5.5.

The insurance regulator has granted insurers the flexibility to determine commissions across their product range, allowing them to offer higher commissions to distributors for annuities compared to ULIPs and increase the sale of such products.

The total sum assured in the policy is ₹11,400 crore. However, there is a cap of ₹500 crore on payouts for certain natural calamities. Therefore, the extent of the claim settlement could be lower. While the estimated loss resulting from the recent incident is yet to be determined, the company is seeking claims for the entire loss under the insurance policy, said a person with knowledge of the matter.