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Indian shares subdued as investors weigh oil prices, global events

Indian shares subdued as investors weigh oil prices, global events

Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai, India May 25, 2016. REUTERS/Danish Siddiqui

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BENGALURU, March 23 (Reuters) – Indian shares were little changed on Wednesday as cautious investors kept an eye on crude prices and geopolitical events in the absence of any major domestic triggers.

By 0504 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was up 0.11% at 17,334.45, while the benchmark S&P BSE Sensex (.BSESN) had gained 0.10% to 58,046.43.

After falling nearly 1% on Monday and extending those losses into the first half of Tuesday — due to higher oil prices — both the indexes staged a mid-day reversal to end more than 1% higher as investors bought into the dip.

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While the Nifty and Sensex built on the upbeat momentum in early trading on Wednesday, markets have now given up most gains.

“Markets are not going to be that bullish today and there could be some kind of consolidation,” said Devarsh Vakil, deputy head of retail research at HDFC Securities.

“As such, we have risen a lot from (recent) lows. So, it is better to digest these gains,” he added.

Earlier this month, the indexes hit their lowest levels since late-July, but they have since risen about 11% each.

In Mumbai, gains in pharmaceutical and metal stocks offset losses in automobile companies.

The Nifty Pharma Index (.NIPHARM) was up 1.27%, with pharma major Dr Reddy’s Laboratories (REDY.NS) rising 3% and topping the Nifty 50 percentage gainers.

The Nifty Metal Index (.NIFTYMET) rose 0.49%, with aluminium and copper producer Hindalco Industries (HALC.NS) adding 2.3%. Global commodity prices remained high on potential supply hits due to the Ukraine conflict.

The Nifty Auto Index (.NIFTYAUTO) dropped 0.56% and was on track for its second session of losses in three.

Meanwhile, broader Asian markets hit their highest levels since March 4 as investors moved cash back into equities from bonds in preparation for the U.S. Federal Reserve’s aggressive approach to combat inflation.

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Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

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Top ballet performers ‘Dance for Ukraine’ in charity event

Top ballet performers 'Dance for Ukraine' in charity event

March 20 (Reuters) – Away from the fighting in Ukraine, Russian and Ukrainian ballet dancers rubbed shoulders in London on Saturday in a charity event that united some of the world’s leading dance performers for humanitarian relief in the war-torn eastern European nation.

About 20 dancers, with glistening bodies and graceful moves, received a thunderous applause from the packed auditorium at the London Coliseum theatre for the ‘Dance for Ukraine’ gala.

“We have so many loved ones back home. We couldn’t just sit idly at home and just watch news, we wanted to do something,” Ivan Putrov, who is from Ukraine and organised the event with Romanian Alina Cojocaru, told Reuters.

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Russia invaded Ukraine on Feb. 24, an attack Moscow calls a “special operation” to demilitarise its neighbour.

The U.N. human rights office has said at least 847 civilians had been killed and 1,399 wounded in Ukraine as of Friday. More than 3.3 million refugees have fled Ukraine through its western border, with around 2 million more displaced inside the country.

Some audience members were draped in the Ukrainian flag for the event, with dancers from many countries including Brazil, Italy and Britain providing glamour to the stage that was lit in shades of yellow and blue.

Katja Khaniukova from Ukraine and Natalia Osipova from Russia were among those who took part. There were also dancers from the United States, France, Japan and Argentina at the event, which the organisers said raised at least 140,000 pounds ($184,520.00) for the Disasters Emergency Committee’s Ukraine appeal.

“So many of the artists contacted us wanting to join so it is inspiring how overwhelming the support is from the people, but we need more support in Ukraine, more support from different governments around the world,” said Putrov.

($1 = 0.7587 pounds)

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Writing by Muralikumar Anantharaman; Editing by Shri Navaratnam

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BWF cancels events in Russia, Belarus

BWF cancels events in Russia, Belarus

Feb 28 (Reuters) – Badminton’s world governing body (BWF) has cancelled all sanctioned tournaments in Russia and Belarus, it said on Monday, following Russia’s invasion of Ukraine.

Russian and Belarusian national flags must not be displayed and their national anthems not played at any BWF events. No other badminton tournaments will be allocated to Russia or Belarus until further notice.

“BWF will continue to monitor the situation closely and will proactively consult our international sport movement partners to discuss other options to potentially strengthen measures against the governments of Russia and Belarus,” it said in a statement.

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The governing body said it fully supported the International Olympic Committee urging sports federations to move or cancel sports events planned in Russia or Belarus. read more

“BWF stands in full solidarity with the entire international sports movement to call on all parties to stop acts of violence and to restore peace,” it added.

Ukraine’s health ministry said on Sunday that 352 civilians, including 14 children, had been killed since Russia’s invasion of the country last week. Belarus has been a key staging area for the invasion.

Russia calls its actions in Ukraine a “special operation”.

Soccer’s governing body FIFA said on Sunday that no international soccer matches will be played in Russia and the Russian flag and anthem will be banned from the team’s matches abroad. read more

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Reporting by Manasi Pathak in Bengaluru, editing by Ed Osmond

Our Standards: The Thomson Reuters Trust Principles.