The rupee depreciated 3 paise to settle at 83.23 (provisional) against the US dollar on Wednesday, as a muted trend in domestic equities and sustained foreign fund outflows weighed on investor sentiments.Forex traders said the strength of the American currency in the overseas market further dented investor sentiments.
At the interbank foreign exchange market, the local unit opened at 83.22 against the US dollar and moved in a range of 83.27 to 83.19.The rupee finally settled at 83.23 (provisional) against the US dollar, down 3 paise from its previous close.On Tuesday, the rupee had settled at 83.20 against the dollar.”The Indian rupee declined on weak domestic markets and further selling by FIIs. However, softening of US dollar cushioned the downside,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
Also Read
Rupee falls 15 paise to close at 83.21 against US dollar
Choudhary further said that the US dollar eased from a near 11-month high as investors are likely to narrow their positions ahead of US non-farm payrolls data later this week.”We expect the rupee to trade with a negative bias amid risk aversion in global markets and a hawkish tone of most Federal Reserve officials,” Choudhary said.However, softening of crude oil prices may cushion the downside.”Any intervention by the RBI may also support rupee at lower levels. Traders may take cues from Services PMI, ADP non-farm employment and factory orders from the US,” he said.
Nykaa shares jumps 7% after 1.4% stake sale via block deal Saraswati Saree Depot lists at 21% premium; is it a Buy at current levels? Ola Electric shares jump over 16% after flat listing Sebi advises NSE to shore up SGF for F&O to Rs 10,500 crore
Market participants may remain cautious ahead of the Reserve Bank’s monetary policy decision later this week.The RBI governor-headed six-member Monetary Policy Committee (MPC) started its three-day meeting on Wednesday. Governor Skhatikanta Das will announce the decision on Friday (October 6).Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.21 per cent to 106.77.Brent crude futures, the global oil benchmark, declined 0.95 per cent to USD 90.06 per barrel.
On the domestic equity market front, the 30-share BSE Sensex closed 286.06 points or 0.44 per cent lower at 65,226.04. The broader NSE Nifty declined 92.65 points or 0.47 per cent to 19,436.10.Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 2,034.14 crore, according to exchange data.
Related Posts
By admin • January 13, 2025 • By Anand James
Consecutive days of upcloses brought cheer to Bank Nifty traders, an event that has occurred for the first time since hitting record peak in September. Yet, we are yet to clear the congestion resistances of the last fortnight. This along with the 50DMA at 44,760 presents a very formidable hurdle for bank nifty. This forces us to continue with a cautious approach, rather than embarking on an outright recovery play. But, given the three day ascent seen in MACD forest, and the oversold territory from which the index is coming off, there is still a reasonable window to pick upswings, but prospects appear limited as long as the 50DMA stays above.
Also Read
Markets see sharp correction, Israel- Hamas conflict worry investors
<…
By admin • January 2, 2025 • Pune-based PN Gadgil Jewellers has received approval from the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
The company’s IPO comprises a fresh issue of equity shares of face value of Rs 10 each aggregating up to Rs 850 crore and an offer for sale of equity shares of face value of Rs 10 each aggregating up to Rs 250 crore.
The total offer size aggregates up to Rs 1,100 crore. The funds raised through the IPO w…
By admin • December 27, 2024 • B2B re-commerce player Rockingdeals Circular Economy Ltd (RDCEL) on Monday said it has filed draft papers to raise funds through an Initial Public Offering (IPO).
The shares of the company will be listed on the NSE Emerge, the company said in a statement.
The IPO comprises a fresh issue of equity shares of up to 15 lakh equity shares with a face value Rs 10 each through the book-building process.
Kolkata Doctor’s rape and murder case: Was the crime scene altered? Bold claims in CBI’s status report Market rally leads to higher regulatory fees for stock exchanges India should seek to curb bullion imports from UAE, says GTRI Why Google Search is in the dock Come from Sports betting site<…
By admin • December 27, 2024 • The Securities Appellate Tribunal (SAT) on Wednesday set aside an interim order by the Securities and Exchange Board of India (Sebi) against Linde India, an industrial gases company.
The tribunal has asked the company to appear before Sebi on May 27 for inspection of documents and file a reply within one week.
Sebi has also directed the National Stock Exchange to carry out a valuation of the company’s business and its related party transactions following complaints by the shareholders.Come from Sports betting site VPbet
Market rally leads to higher regulatory fees for stock exchanges Raksha Bandhan 2024 Date: Know the history, significance, and importance of the festival Vital to fo…
By admin • December 26, 2024 • Sony’s $3.6 billion acquisition of Destiny developer Bungie is the big news this week, and now PlayStation boss Hermen Hulst has shed some more light on the deal and what it means.
Appearing on the official PlayStation podcast, Hulst said Bungie has succeeded and prospered in the live-service category, which is no easy task. Sony wants to do much more in the space, just recently announcing plans to launch 10 live-service games by 2026, so snapping up Bungie aligned with its goals Come from Sports betting site VPbet. Hulst also had praise for Bungie’s first big series, Halo, which he said is one of the best shooter franchises ever. But Destiny goes even further in Hulst’s eyes.
…
By admin • December 26, 2024 • Marvel’s Thunderbolts will kick off the summer box office in 2025, but the cast and director Jake Schreier debuted the first footage from the film at this year’s Marvel Studios panel at San Diego Comic-Con. And if the preview clips are any indication, this team may play like Marvel’s Suicide Squad.
The footage began with Florence Pugh’s Yelena Belova reuniting with her surrogate father, Alexei Shostakov/Red Guardian (David Harbour). He’s living alone in a messy apartment, and Yelena confesses that she feels an emptiness inside of her and that “there is something wrong with me.” Wyatt Russell’s John Walker/U.S. Agent is shown at home with his child while reading a story about his downfall.
Later, Yelena encounters Ghost (Hannah John-Kamen) on a mission that turns out to be a …