INDIA RUPEE NEWS
Share price of Colgate-Palmolive jumps as Sensex gains 190.11 points
Promoters held 0.0 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 24.51 per cent and 3.1 per cent, respectively.
Nifty continues record run, scales 24,650 mark; Sensex rises 100 points
Indian indices rose 0.12%, with Sensex gaining 97 points and Nifty 50 reaching a new July record, up 29 points at 9:22 am, trading at 24,615. Nifty rose in 8 out of 12 July sessions. Bharti Airtel, Adani Ports, Tata Steel, and Bajaj Finserv led gains, while HCL Tech, L&T, Tata Motors, and Nestle India saw losses.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Domestic markets started positively, hitting new highs. Ajit Mishra suggests 'buy on dips.' Nifty has support at 24450, staying above 24400. Global markets mixed, oil dipped. Forex saw minimal changes. DIIs sold shares worth Rs 331 crore. Key Q1 results: Bajaj Auto, L&T Finance. Wall Street gained on Trump optimism, Fed rate cuts in September.
India seeks to boost exports to Russia after PM Modi's trip
India is intensifying efforts to increase exports to Russia following Prime Minister Narendra Modi's recent visit to Moscow. Despite a surge in Russian exports to India, reaching $61.43 billion out of a total $65.7 billion trade last fiscal year, Indian exports like pharmaceuticals and machinery have seen minimal growth. New Delhi seeks to address non-tariff barriers on exports and promote rupee-rouble trade, despite challenges such as Russia's preference for more widely used currencies.
India's forex reserves hit an all-time high of $657.16 bn
India's foreign exchange reserves reached a record high of $657.16 billion as of July 5, marking a significant increase of $5.16 billion from the previous week. This surge was driven by a rise in Foreign Currency Assets (FCAs), which grew by $42.29 billion to $577.11 billion. FCAs include holdings in currencies like the euro, pound, and yen, adjusted for their exchange rate fluctuations against the US dollar.
Modi will likely depart from privatisation plans, will overhaul state-run firms
UNION BUDGET: India plans to overhaul over 200 state-run firms to boost profitability, moving away from aggressive privatisation due to slowed progress and increased political resistance. The new strategy, expected to be announced in the July 23 budget, includes asset monetisation and long-term performance targets, aiming to raise $24 billion for reinvestment
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Share price of Colgate-Palmolive jumps as Sensex gains 523.13 points
A total of 5,641 shares changed hands on the counter till 11:26AM (IST)
Havells India shares up 0.29% as Nifty falls
The stock quoted a 52-week high price of Rs 1986.55 and low of Rs 1233.1.
Sensex, Nifty rise at open tracking positive cues from Asian peers
By 9:17 am, Indian benchmark indices saw gains with Sensex at 78,129 and Nifty50 at 24,384. Market rises were led by TCS, ICICI Bank, Infosys, Tata Steel, Titan, SBI, and HCL Tech. In contrast, HDFC Bank, Ultratech Cement, Power Grid, M&M, and Nestle India experienced declines. TCS is set to report June-quarter earnings today.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Markets faced selling pressure; IT focus with TCS Q1 earnings. Khemka expects consolidation, Gift Nifty 25 points higher. Shetti noted profit booking at 24400-24500 levels. Global markets gained. India VIX rose. Dollar declined pre-inflation data. Brent futures gained 0.4%, WTI crude up 0.5%. Stocks in F&O ban include India Cements, IEX, ABFRL. FPIs, DIIs bought shares worth Rs 1,665 crore.
Rupee ends flat at 83.48 against dollar
The rupee ended at 83.48/$1 on Tuesday, versus 83.49/$1 the previous day, Reuters data showed and traded in the 83.47-83.51 band through the days’ session. Powell is scheduled to give his semi-annual testimony to the US Congress on Tuesday and Wednesday.
GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Benchmark indices closed with minor gains, marking a positive week. Analysts expect Q1FY25 earnings and inflation cues to guide markets. Gift Nifty signals a negative start. India VIX fell 1.24%. Mixed global trends; S&P 500 futures down. Rupee at 83.49 vs. USD. Brent crude at $86.65. F&O ban includes PEL, Bandhan Bank. Tropical Storm Beryl impacts oil supply.
Rupee closes nearly unchanged at 83.48 against dollar
The US Non-Farm Payroll (NFP) data is expected today, which will influence rate cut expectations by the Federal Reserve. The dollar index fell 0.2% to a three-week low and touched 104.95 due to pressures from the euro and the British pound.
India's forex reserves dip by $1.71 bn to $652 bn
India's foreign exchange reserves decreased by $1.71 billion to reach $652 billion as of June 28, according to data released by the Reserve Bank of India (RBI). The previous week had seen an increase in reserves by $816 million to $653.7 billion as of June 21.
Rupee closes marginally lower at 83.53 against dollar
Most Asian currencies fell versus the dollar on Wednesday. The 10-year benchmark government bond yields in India eased a little, closing at 6.99% on Wednesday, after remaining steady at 7.0%-7.01% in the last couple days.
GIFT Nifty jumps 90 points; here's the trading setup for today's session
Market anticipates Nifty consolidation post-profit booking. Brent crude, US WTI futures rise on strong fuel demand hopes. Currency markets stable as rupee weakens. FIIs cut net long positions, adding to market uncertainty.
Hyundai India eyes record $3.5 billion IPO
Hyundai Motor India Ltd. plans to start gauging investor interest in the coming weeks, with a listing likely in September or October, the people said, asking not to be identified as the information isn’t public.
Rupee falls to record low hurt by likely outflows, importer dollar demand
The currency fell to a record low of 83.6650 against the U.S. dollar in the latter half of Thursday's trading session, closing at 83.6425. This marks a decline from the previous session's close of 83.4550. Traders attributed the currency's weakness to a broadly stronger dollar and a weakening Chinese yuan, which exerted additional pressure on the Indian currency throughout the day.
Rupee closes at record low vs dollar ahead of US Fed statement
Recently released data showing a larger-than-expected jobs addition in the US has dampened hopes of the Federal Reserve lowering interest rates while sharp weakness in the Chinese yuan versus the US dollar over the past couple of days has dragged Asian currencies lower, dealers said.
Rupee ends at record low vs US dollar as Asian peers slip
The Indian currency has been hovering near its record low of 83.5750, a level it reached in April. However, regular market intervention by the Reserve Bank of India has helped to curb further decline, according to traders. Last week's trading was notably volatile due to the national election results, prompting increased hedging activity from importers and exporters, as indicated by data from a local clearing house.
FOMC, FII action among 10 factors to dictate D-Street mood this week
The Nifty index closed the week with a 3.6% increase amidst two significant occurrences: the highly anticipated election results and the monetary policy decision by the Reserve Bank of India (RBI). As trading resumes on Monday, a range of significant domestic and international events scheduled throughout the holiday-shortened week are expected to influence market movements.
GIFT Nifty rises 100 points; here's the trading setup for today's session
Indian markets reacted to the NDA's election results with a 6% loss in Sensex and Nifty. Concerns over socialist policies were raised. Traders were cautioned by Kotak Securities. Adian Markets and Hang Seng futures showed varied performance. Oil prices fell slightly. Stocks in F&O ban.
FII action, rupee movement among 11 factors to set D-Street mood this week
Nifty closed the week with a 2.2% increase despite notable ups and downs, as seen in the India VIX reaching a 52-week peak with almost a 10% rise over four sessions. As trading resumes next Monday, numerous significant local and international events scheduled throughout the week are anticipated to influence market dynamics.
Rupee gains by most in 5 months on stocks, RBI dividend
The rupee rose as much as 0.3% to 83.03 against the dollar on Friday, the most since December 15, as markets reopened after being shut on Thursday.
India Playbook 2024: Aiming for a trillion dollars in forex reserves by 2029
India's economic trajectory for global investments is driven by stable macroeconomic environment, robust earnings growth, and significant contributions from software services and remittances. Inclusion in MSCI EM index and prominent Emerging Market Bond indices enhances India's investment landscape.
India, China have agreed to cooperate in paying in local currency for imports: Maldives
Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee.
Rupee rises 7 paise to 83.24 against US dollar in early trade
The rupee rose by 7 paise to 83.24 against the US dollar, aligning with its fundamentals. Medium-term target projected to range between 82.80 to 82.50 levels. Dollar index was trading lower at 104.63.
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.
Rupee ends flat as foreign banks' dollar buys eat into uptick
The rupee ended at 83.5075 against the U.S. dollar, barely changed from its previous close at 83.5175. The currency had risen to a high of 83.4475 early in the session, before shedding some of the gains.
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