FOREIGN EXCHANGE LOSS
Sensex, Nifty end with minor losses amid selling pressure in banks, auto stocks
The 30-stock S&P BSE Sensex ended the day at 79,441.45, dropping 35 points or 0.04% while the broader Nifty closed at 24,123.85, settling 18.10 points or 0.07% lower. Of the 16 sectoral indices on the NSE, 11 closed in the red while the remaining 5 ended in the green.
Rupee declines pressured by weak Asian peers, oil companies' dollar bids
Indian rupee weakens as Asian currencies fall amid strong dollar demand. US bond yield rise impacts currencies, with Chinese yuan and Korean won leading losses.
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.
US presidential debate: Biden 'like a Palestinian' in exchange on Israel, says Donald Trump
During a presidential debate at CNN headquarters, Donald Trump accused US President Joe Biden of siding with Palestinians by allegedly refusing to help Israel "finish the job" against Hamas. Trump claimed Biden has become like a weak Palestinian. Biden defended his economic record and criticized Trump, but struggled with his delivery. The debate highlighted their stark differences on issues like abortion, the economy, and foreign policy.
Asian shares end the week with a whimper, yen struggles
Asian shares end week with profit-taking as U.S. dollar strength pressures yen towards intervention zone.
Over 50 detained in connection with terror attack in Reasi
Anti-militancy search operations continued in the Jammu division in response to recent incidents in Reasi, Kathua, and Doda. More than 50 persons were taken into custody during the investigation. J&K police commissioner RR Swain stated that the forces are preparing to counter foreign militants operating in the region. Incidents included attacks on a bus near Shiv Khori shrine, civilians in Hiranagar area, and security personnel in Chattergala and Bhaderwah. Foreign terrorists are particularly active in the Pir Panjal and Chenab Valleys in southern Kashmir. The police reported a decrease in the number of active local militants in the region.
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Rupee falls 6 paise to 83.54 against US dollar in early trade
Rupee depreciated 6 paise to 83.54 against the US dollar on Thursday, influenced by the strength of the American currency and elevated crude oil prices.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
Sensex surges 2,400 pts, Nifty tops 22,600 after posting worst day in four years as poll verdict anxiety eases
Nifty50 and Sensex rebounded after worst day in 4 years following narrow win for PM Modi's alliance, raising policy continuity concerns.
Rupee gains 7 paise to 83.44 against US dollar in early trade
Rupee appreciated 7 paise to 83.44 against the US dollar, influenced by domestic equity markets and lower crude oil prices. The currency rebounded from a decline post-election results showing less-than-expected majority for the BJP-led NDA.
Indian stocks tend to reward investors post polls, history shows
Indian stocks turn volatile ahead of election results, but historical data shows little impact on long-term investors. S&P BSE Sensex Index has gained post-elections with a median return of over 11% in the last five elections.
Traders bearish on June, Nifty slips 216 points
Analysts said foreign fund managers have predominantly rolled over bearish positions to June, while domestic traders remained bullish though the benchmark indices extended losses to the fifth straight trading session.
Rupee falls 9 paise to 83.27 against US dollar in early trade
Rupee depreciates 9 paise to 83.27 against USD on negative equities and high oil prices, influenced by domestic market sentiment and USD strength. Rupee opened at 83.22, traded at 83.27. Dollar index at 104.72, Brent crude at USD 84.40. Sensex down by 0.30%.
Rupee falls 9 paise to 83.27 against US dollar in early trade
The rupee declined to 83.27 against the US dollar on Wednesday, driven by negative equities trend and elevated crude oil prices, with interventions from RBI and anticipation of Lok Sabha election results.
Dollar firm ahead of global inflation data
The dollar held steady on Monday, but was set for its first monthly loss this year, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook.
TRADERS’ CORNER: IT stock to rise 5%; graphite electrode manufacturer aims for 6% gain
Nifty opened weak but crawled into the positive territory and stayed there for the rest of the session.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
TRADERS’ CORNER: PSU biggie set on an 8% run; engineering stock shows concrete signs of posting 6% gain
In the special trading session on Saturday, the Nifty started positive and largely remained in the zone.
Indian crypto investors take illegal routes to avoid tax burdern
Peer-to-peer trading through escrow services on banned crypto exchanges has increased five times during weeks of high trading volume in March and April, according to a study conducted by Delhi-based policy think tank Esya Centre.
SEBI considers regulatory role in crypto trading, diverging from RBI's approach. Here's what experts think
In a significant development within India’s crypto landscape, the Securities and Exchange Board of India (SEBI) has recommended several regulators oversee crypto trade nationwide.
Foreign equity investors turn to hedging on India election jitters
Foreign investors are loading up on options to hedge their equity portfolios against a slide in benchmark indexes as they worry that Prime Minister Narendra Modi's party may not achieve the landslide victory predicted by opinion polls just weeks ago.
Foreign equity investors turn to hedging on India election jitters
The last major poll had estimated that the ruling Bharatiya Janata Party (BJP) party would win 342 seats, comfortably above the 272 majority required to return to power.
Rupee closes little changed, logs slight weekly decline
The Indian rupee closed nearly flat on Friday, tracking subdued moves in its Asian peers and as expectations of the central bank's intervention blunted the pressure of dollar demand from local oil companies and foreign banks.
Airtel Africa Q4 Results: Net loss at $91 million on forex woes
Airtel Africa Q4 Results: In a statement Thursday, Airtel Africa said the board has approved a share buyback programme of up to $100 million over a period of 12 months. The company purchased 7.4 million shares for a total consideration of $9 million in March 2024.
Strong dollar, strong gold working now because central banks are buying left, right & centre.: Kunal Shah, Nirmal Bang
Central banks buying gold amid geopolitical tensions, are impacting prices. Dollar strength boosts gold. Corrections are expected due to US inflation while rate cuts are anticipated from major banks. Gold remains a strategic investment with limited short-term upside. Shah says: "Dollar strong, gold strong is working because central banks are buying left, right and centre."
Buses will see more traction in electric technology as compared to trucks: Vinod Aggarwal, VECV
It was basically recovering from the COVID period. And now, I would say you are right that the nominal GDP growth is 12%, 13%, the CV industry overall should grow better than that and we will see that happening I think in the future, it will happen.
Forex reserves rise $32.9 billion in April-December
The valuation gain, reflecting the depreciation of the US dollar against major currencies, lower bond yields and higher price of gold, amounted to $11.1 billion during April-December 2023 as against a valuation loss of $29.9 billion during April-December 2022, the RBI said.
Turkey's central bank hikes interest rate to 50%
Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month. The central bank said Thursday that its "monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen".
Rupee declines 5 paise to 82.95 against US dollar on firm crude prices
The local currency moved in a tight range of 82.93 to 82.95 to a dollar in early deals. The rupee traded at 82.95, down 5 paise, against the US dollar at 9.15 am.
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