Business highlights

Following are the top business stories at 2030 hours: DEL48 BIZ-2NDLD INFLATION May WPI inflation hits over 7-year low of (-) 3.48 pc on declining fuel, manufactured items prices New Delhi: The wholesale price-based inflation rate fell to a seven-and-half-year low of (-) 3.48 per cent in May on easing prices of food, fuel and manufactured items, strengthening the case for the RBI to continue with the rate hike pause in the current fiscal.

DCM49 BIZ-INDIA-OIL-IEA India to soon overtake China as oil demand driver; can be leader in green hydrogen: IEA chief New Delhi: India will soon overtake China as the largest driver of global oil demand even as it has an opportunity to become a world leader in green hydrogen production, International Energy Agency (IEA) chief Fatih Birol said Wednesday.

DEL55 BIZ-OMSS-RICE-WHEAT Centre discontinues sale of rice, wheat under OMSS to state govts to check price rise New Delhi: The Centre has discontinued the sale of rice and wheat from the central pool under the Open Market Sale Scheme (OMSS) to state governments, a move that will hit some states, including Karnataka, offering free grains to the poor.

DEL32 BIZ-LD STOCKS Sensex, Nifty rise on gains in metal, commodity stocks Mumbai: Rising for the third straight session, equity benchmark indices recovered early losses to end in positive territory on Wednesday, supported by buying in metal, commodity and energy stocks amid encouraging WPI inflation data.

DEL26 BIZ-RUPEE-CLOSE Rupee rises 15 paise to close at 82.10 against US dollar Mumbai: The rupee gained 15 paise to settle at 82.10 (provisional) against the US dollar on Wednesday, helped by robust macro fundamentals, FII inflows and a weak greenback against major rivals overseas.

DEL39 BIZ-GOLD-PRICE Gold declines Rs 430; silver plunges Rs 620 New Delhi: Gold prices declined Rs 430 to Rs 60,250 per 10 grams in the national capital on Wednesday amid weak trends in overseas markets, according to HDFC Securities.