10 BILLION RUPEES
US rate cuts can spur inflows into Indian debt: Citi Exec
Global interest in Indian debt is set to surge, potentially exceeding the expected $2 billion monthly inflow from JP Morgan's bond index inclusion. Citi's Aditya Bagree forecasts a boost as the US Federal Reserve eyes rate cuts, likely triggering EM bond fund inflows. He highlights India's sovereign debt as a top volatility-adjusted carry trade in the region. Despite recent inflows totaling $32 billion, passive investments and India's economic resilience could drive more robust foreign participation. The rupee's stability and favorable economic indicators further bolster investor confidence in Indian assets.
Rupee ends lower pressured by weaker yuan; Fed Powell's remarks in focus
Rupee ends lower pressured by weaker yuan; Fed Powell's remarks in focus.
Rate derivatives: Banks seek hike in foreign investor cap
Banks asked RBI to increase foreign OIS transaction limits post JP Morgan's index inclusion spiked demand. The ₹350 crore limit is near exhaustion at ₹11.3 crore by July 10, per Clearing Corporation. OIS transactions for hedging and rate bets settle in rupees, convert to US dollars. Foreign investors purchased $11 billion of Indian government bonds.
Adani Ports to raise investment to ₹10,000 crore for new transshipment terminal
The investment in the first-of-its-kind Vizhinjam port in the state of Kerala is part of the second phase of the project that is expected to finish by 2028, said people familiar with the Adani Group’s plans who did not want to be identified as the details are not announced.
Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms
Tata Motors and Mahindra challenge Hyundai for India's No.2 spot amid Hyundai's $3.5 billion IPO plan. Hyundai held 13.5% sales, Tata 13.2%, Mahindra 12.4%, Maruti Suzuki tops with 40%. Hyundai faces market challenges, acknowledges COO Tarun Garg. Significant investments in EVs and capacity expansions are planned by 2026, according to the Federation of Automobile Dealers.
India’s long bonds have become a crowded trade, Edelweiss warns
Edelweiss Government Securities Fund excels in performance, positioning itself as a market leader. Foreign investors' sustained involvement in Indian sovereign bonds is still uncertain, impacting market dynamics.
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Rupee falls 11 paise to 83.45 against US dollar
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
First day JPM flows not a deluge, but bankers confident of steady flow going ahead
From Thursday to Friday, foreign portfolio investors (FPIs) increased their holdings in the index-eligible Fully Accessible Route (FAR) suite of government bonds by Rs 1,545.16 crore, bringing the total to Rs 1.86 lakh crore, according to data from the Clearing Corporation of India Ltd (CCIL) released at 6 pm. This increase left traders somewhat disappointed, as some market segments had anticipated a surge exceeding Rs 10,000 crore on Friday alone.
Rupee closes higher, outperforms most Asian peers in first half of 2024
RBI interventions and global economic factors propelled the rupee's resilience. The JPMorgan index inclusion and current account surplus contributed to the rupee's strength against the dollar amidst changing global market dynamics.
Rupee ends higher, lifted by bond inflows; oil firms' dollar bids cap gains
The Indian rupee closed higher at record levels despite dollar demand, reflecting resilience amidst regional pressures. Anticipation of dollar inflows related to JPMorgan's index inclusion boosted the currency.
Foreigners buy Indian debt on eve of JPMorgan index inclusion, indicators signal
Currency market reacts to India's JPMorgan index inclusion with increased foreign buying and dollar transactions by large banks. Traders anticipate passive inflows despite the rupee's limited appreciation. RBI expected to manage the market dynamics prudently.
Rupee ends marginally up on inflow expectations from index-bound bonds
The Indian rupee ended marginally higher on Tuesday on expectations of foreign inflows into domestic debt that will be included in a global index later this week.
Rupee trades in narrow range against US dollar in early trade
The rupee traded against the US dollar, influenced by positive domestic equities and the strength of the American currency. Forex traders noted the impact of the strong US dollar and elevated crude oil prices on the local unit.
Rupee closes higher on uptick in Asian FX, foreign banks' dollar sales
The Indian rupee closed stronger on Monday at 83.4600 against the U.S. dollar, supported by gains in most Asian currencies. The Indonesian rupiah led the gains, while dollar sales from foreign banks helped the rupee, despite oil companies' bids eroding some gains.
India bond yields seen little changed amid lack of fresh cues
Indian government bond yields are expected to hold steady on Monday, moving in a 6.95%-6.99% range. Inflows under the FAR, crossing $10 billion, and foreign banks' increased bond purchases ahead of the inclusion affect U.S. Treasury yields.
Indian rupee hits new lifetime low against US dollar. Are record block deals the culprit?
The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.
Rupee ends stronger on likely inflows, state-run banks' dollar sales
The rupee rose after drifting in a 10 paisa range last week, with multiple interventions by the Reserve Bank of India that prevented it from falling to its lifetime low of 83.5750, hit in April
Vedanta unveils mega road map to reach $10-billion Ebitda
The Vedanta Group has invested around $8 billion in its growth projects. The group will also commission the world’s largest alumina refinery at Lanjigarh. The $10 billion near-term target on earnings before interest, tax, depreciation and amortisation (Ebitda) includes $4.2 billion from aluminium, $2.7 billion from zinc and silver, and $0.9 billion from oil & gas, according to a presentation that the two people shared with ET.
Rupee at the mercy of politics? What’s the fate of the rupee?
The recent volatility in Indian markets and the rupee reflects a shift in the political landscape, with Narendra Modi's BJP failing to secure a majority. Despite forming the coalition government, its fortunes — and that of the Nifty and the rupee — will remain dependent on the allies.
Best Tablets under Rs. 50,000 offering Performance, Value and Versatility (2024)
Discover the best tablets under 50,000, through this carefully curated selection of high-performance devices that combine affordability and advanced features. This guide includes top picks like the Apple iPad (10th Generation), Samsung Galaxy Tab S9 FE, and OnePlus Pad, each offering exceptional displays, powerful processors, and ample storage. Whether you need a tablet for work, entertainment, or creative projects, these models provide stunning visuals, smooth multitasking, and long-lasting battery life.
India bond yields seen little changed ahead of inflation data, Fed meet
Indian government bond yields expected to remain stable as market watches inflation data in India and the U.S. and the Federal Reserve's monetary policy decision on Wednesday.
It's a party on Dalal Street as India m-cap soars to Rs 426 lakh crore
Indian equities surged to new highs on Monday as investors reacted positively to the likelihood of the Bharatiya Janata Party (BJP) winning with a strong majority based on exit polls. Benchmark indices jumped over 3%, the biggest gain in four years.
Rupee surges 38 paise to 83.04 against US dollar in early trade
The rupee strengthened to a three-month high of 83.04 against the US dollar on Monday, supported by positive sentiment in domestic equity markets fueled by strong macroeconomic data and exit poll results favoring PM Narendra Modi's government.
India's forex reserves rise to an all time high for week ending on May 17; up by $4.54 bn to $648.7 bn
India's forex reserves reached an all-time high of $648.7 billion as of May 17, according to the Reserve Bank of India. This follows a surge of $2.56 billion in the previous week. Foreign currency assets (FCAs) also increased by $3.361 billion to $569.01 billion. Gold reserves increased by $1.24 billion to $57.19 billion, while SDRs rose by $113 million to $18.16 billion.
India’s index-eligible bonds set for best performance in a year
Indian government bonds set for inclusion in JPMorgan Chase & Co. index demonstrate strong performance with foreign inflows surging post record central bank payout. Analysts view IGBs as attractive despite yield drops, suggesting potential in swaps.
RBI's record dividend presents a delicious dilemma for new Indian government
As India prepares for a new government by June 4, a significant Rs 2.11 lakh crore windfall awaits allocation. Options range from faster deficit reduction to increased spending. Analysts anticipate positive investor sentiment, though preferences vary between deficit reduction and expenditure. The BJP-led government's cautious approach contrasts with opposition promises
Indian 10-year bond yield at near 1-year low post record surplus transfer by RBI
Indian government bond yields declined to a near one-year low after the central bank approved a record surplus transfer of 2.11 trillion rupees to the government, improving demand in Indian debt markets. Alok Singh from CSB Bank mentioned that the 10-year yield should move below 7% soon.
India's forex reserves rise for second straight week, up by $2.56 bn
India’s foreign exchange reserves increased by $2.56 billion to $644.15 billion as of May 10, 2024, according to the Reserve Bank of India (RBI). The previous week, reserves rose by $3.66 billion to $641.59 billion. The RBI's Weekly Statistical Supplement indicated that foreign currency assets (FCAs) grew by $1.49 billion to $565.65 billion.
Inflows into index-eligible Indian bonds set to hit $10 billion
Investments into index-eligible Fully Accessible Route bonds have risen by 812.18 billion rupees ($9.8 billion) since the announcement in September, data from the Clearing Corp. of India show. Inclusion starts in phases from June.
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