LAKHS OF RUPEES
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.
Modi’s top coalition ally Chandrababu Naidu seeks more than Rs 1 lakh crore handout
Key allies in Modi's coalition government, N Chandrababu Naidu and Nitish Kumar, are seeking substantial financial support for their states. The demands include funds for building a new capital and infrastructure projects. This puts pressure on the national budget and raises concerns about increasing debt.
RIL, SBI lift muted D-Street; investors' wealth soars Rs 450 lakh crore
The 30-stock S&P BSE ended with minor declines at 79,996.60, losing 53.07 points or 0.07%. Meanwhile, the broader Nifty closed with 21 points or 0.09% gains at 24,323.85.
Rupee strengthens slightly against dollar, settling at 83.495
The rupee closed at 83.495/$1, versus the previous close at 83.50/$1, Bloomberg data showed. Foreign investors bought Rs. 2,575 crores worth of Indian equity and Rs. 1,180 crores in fully accessible Indian government bonds, BSE and CCIL data showed.
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.
Rupee gains 0.1% against US dollar, ends at 83.38
The RBI intervenes in the market periodically via liquidity management, including through the selling of dollars, to prevent a steep fluctuation in the local currency, though it has fallen to record highs intermittently.
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RBI imposes Rs 29.6 lakh penalty on HSBC
The Reserve Bank of India (RBI) has imposed a Rs 29.6 lakh penalty on The Hongkong and Shanghai Banking Corporation Limited (HSBC) for non-compliance with certain directions related to cards. The bank failed to ensure no negative amortisation while computing Minimum Payment Due in certain credit card accounts. The RBI found that the charge against the bank was sustained, warranting the imposition of monetary penalty.
Rupee appreciates 14 paise; closed at 83.45 per dollar
Currency traders expect a range of 83.25 to 83.75 to a dollar next week and expect the local currency to close around 83.30/$1 tomorrow after inflows from the index inclusion come in.
Rupee gains for 3 straight sessions, settles at 83.57
The yield on the 10-year benchmark bond increased slightly but remains within market expectations, closing at 7.00% on Wednesday.
Indian rupee gains 3.5 paise on Tuesday
The 10-year benchmark government bond also traded flat, with yields closing at 6.98% on Tuesday, up just one basis point from the last close. Yields have been touching a low of 6.95% to 6.96% in the middle of the day, but again rise as the day progresses.
Rupee slips 1 paisa to settle at 83.44 against US dollar
The rupee paired its initial gains and settled 1 paisa lower at 83.44 (provisional) against the US dollar on Wednesday in sink with the domestic equity markets that turned choppy at the fag-end of the session.
Rupee rises 6 paise to 83.37 against US dollar in early trade
Rupee remains steady at 83.37 against the US dollar driven by various factors including foreign capital inflow, equity market performance, and positive economic indicators.
D-St investors richer by over Rs 2 lakh crore as Sensex, Nifty extend record run
Indian benchmark indices Nifty50 and Sensex hit fourth consecutive record highs on Tuesday, driven by banking and IT stock gains, amid positive global market trends. Sensex rose 308 points to 77,301, while Nifty gained 92 points to 23,558.
India's very own Tinder Swindler(s): Hyderabad cops arrest seven for duping men to the tune of ₹30 lakh via dating app scam
The scam run by the suspects targeted youngsters on dating apps, luring them to pubs in the city's Madhapur area with the promise of a date with a woman. Once the men got to the pub, their date would allegedly make them pay the bill after ordering expensive food and alcohol. The owners of the pub would later split up the money between themselves and the gang.
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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.
Bonds, rupee stage strong rebound on poll outlook
Government bond yields closed at their lowest in over two years, and the rupee saw its largest single-day gain since December, driven by exit polls predicting a strong NDA victory in the general elections.
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.
10-year bond yield at 2-year low, rupee gains as exit polls show NDA victory
Yield on the 10-year benchmark government ended the day’s trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed.
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.
RBI to face problem of plenty: Prepare for bond sales
The RBI's challenge for the year may not be inflation but liquidity. Government spending resumption and overseas fund flows complicate monetary policy effectiveness.
REC board approves raising foreign borrowing limit to USD 24 bn
State-owned REC Ltd on Friday said its board has approved raising the borrowing limit in foreign currency to USD 24 billion form USD 20 billion. The overall borrowing limit in Indian rupees was however retained at Rs 6 lakh crore, the company said in an exchange filing.
CBDC usage soars 39-fold among retail users, plunges in wholesale
In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, from ₹10.6 crore last year, and in the retail segment, the amount climbed to ₹234 crore in March 2024, from ₹6 crore last year. India's CBDC, the Digital Rupee (e₹), is a digital form of its official currency, introduced after the FY23 budget.
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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.
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GIFT Nifty down 40 points; here's the trading setup for today's session
The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.
Centre may get around ₹1 lakh crore in RBI dividend
Last week, the RBI announced a steep cut in the government's borrowing through Treasury Bills, reducing the amount of funds that the Centre would have garnered through these short-term instruments by ₹60,000 crore.
Pre-market action: Here's the trade setup for today's session
"Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
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