RUPEE SURGE
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.
Godawari Power & Ispat announces Rs 301 crore buyback, shares surge 6%
Godawari Power & Ispat shares surged 6% on BSE to an all-time high after approving a Rs 301 crore share buyback. Som Distilleries shares dropped 16% due to a Madhya Pradesh plant issue.
NRI deposits surge, thanks to India's strong post-pandemic report card
India's robust post-pandemic economic performance has led to a surge in NRI deposits, reflecting confidence in the country's financial stability. A study by Bank of Baroda shows NRI deposits accounting for 6.2% of total deposits, with a CAGR of 7.2% over the past decade.
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.
Nilesh Shah on factors that are driving the surge in FMCG stocks
When you want to play a game of bowling, you need guardrails and it does stop your ball going into other lanes. Regulatory supervision is the guardrail. If you want to play the game, guardrails are necessary. In my opinion, RBI is formulating rules, regulations, keeping in mind what is probably happening at the lowest common denominator.
Yield on SP Co's ₹14,300cr NCDs Surges
Goswami Infratech's NCDs yield surged to 22% due to SP Group's debt raise, linked to SIPL's interest rate, triggering early redemption event, approved for extension until Sept 2024.
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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 falls 26 paise to 83.40 against US dollar in early trade
Rupee falls to 83.40 against the US dollar as Lok Sabha election trends show BJP-led NDA leading with over 200 seats, while domestic markets weaken.
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.
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.
Learn with ETMarkets: What do global economic trends, and their implications mean to gold, currency markets?
The Indian rupee tends to weaken during such times due to increased risk aversion and capital outflows. A weaker rupee makes gold and silver more expensive in the domestic market, potentially leading to profit booking and increased liquidity among investors.
That AC or fridge you were planning to buy just got more expensive
Consumers in Kolkata will experience 2-5% price hikes on electrical goods due to factors like high inflation rates in copper and aluminium, freight cost increases, Red Sea crisis, and rupee depreciation.
Rupee falls on month-end dollar demand; election results in focus
The Indian rupee declined on Friday, pressured by month-end dollar demand from importers, with investors awaiting the outcome of the country's general elections for fresh cues.
Bulls back in action! Sensex rises after 5-day hiatus, surges 500 points; Nifty above 22,600
Indian benchmark equity indices opened higher on Friday. Investors await exit polls post-elections and GDP data release. India's fourth-domestic quarter GDP data is due later in the day.
3M India Q4 Results: 'Post-it' maker posts profit rise; shares surge
3M INDIA-RESULTS/'Post-it' maker 3M India posts Q4 profit rise; shares surge
India's engineering exports to Russia surge amid Ukraine conflict but sanctions remain a concern
The geopolitical situation has reshaped India's export patterns, particularly in the engineering and machinery sectors. While opportunities in the Russian market have expanded, exporters must navigate the complexities of sanctions and banking reluctance to capitalize on this growth.
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'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.
Sebi plans tighter rules for listing of small businesses: Report
India's markets regulator and exchanges will tighten rules for public offers of small and medium enterprises (SMEs), according to two sources, after complaints of misuse of a separate listing platform introduced in 2012 to enable small businesses access the capital markets.
GIFT Nifty up 75 points; here's the trading setup for today's session
"Going ahead, markets would take cues from the voter’s turnout data from the fourth phase which has been a major concern so far," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Election, Q4 earnings, and FII flows among 10 factors that will steer D-Street this week
Over 530 BSE-listed companies will announce their March quarter earnings this week, including DLF, GIC Housing Finance, INOX India, Jindal Steel & Power, Varun Beverages, Zomato, Bharti Airtel, Bharti Hexacom and Colgate-Palmolive (India).
Gold prices rally ahead of Akshaya Tritiya. What investors should know?
The precious metal has surged approximately 20%, hitting a record high of $2,431 per ounce in the international market on April 12 and exceeding Rs 74,000 in the Indian market due to strong purchases by central banks and demand from retail investors amid growing geopolitical tensions.
Rupee lingers in narrow band tracking mostly subdued Asian peers
The rupee was at 83.33 against the U.S. dollar as of 10:00 a.m. IST, barely changed from its close at 83.3150 in the previous session. The currency hovered in a tight band between 83.3075 and 83.34 in early trading.
Surging interest in India papers gives a boost to Re-Eurobond issuances
According to data provided by UAE-based Cbonds, the total aggregate issuance of rupee eurobonds was at $2.54 billion in the first four months 2024, higher than $2 billion for the whole of 2023. Eurobonds are securities denominated in currencies that are different from the national currencies of the countries in which issuance takes place.
Indian rupee is now aiming to be world’s alternate reserve currency
Currently, India is the fastest growing major developing economy in the world. Very soon it is expected to be the third largest economy. Global sentiments are bullish on the Indian economy.
Rupee weakens to over three-month low on weak Asia FX; forward premiums dip
The rupee was trading at 83.3450 per U.S. dollar at 09:30 a.m. IST, its weakest level since Jan. 3. The pair had closed at 83.1475 on Thursday.
Enigma: Why is rupee falling even as Sensex surges
The rupee reached a new low against the dollar while the sensex hit new all-time highs. This anomaly occurred as the rupee breached 83.39 for the first time on the day the sensex closed at a new high. The surge in domestic investors and the decoupling of the rupee-dollar from other currency pairs have contributed to this phenomenon. Indian corporates’ robust earnings and inclusion in emerging market bond indices by JP Morgan have also played a role. RBI has used its reserves to support the currency and protect the economy from a higher import bill.
Gold price at record high: What’s fuelling the surge?
The relationship between the US dollar and gold is often characterized by an inverse correlation. When the US dollar weakens, gold prices tend to rise and vice versa. Earlier, gold prices in the international markets were primarily driven by real interest rates. Robust US economic release boosted bets of higher-for-longer rates which ended up lifting the US currency and bond yields.
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