The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
It offers a lot of opportunities, especially in the commodities market.
It would be a huge achievement if the new administration manages a successful transition to some sense of domestic and international normalcy in these frantic times marked by the pandemic and rise of illiberal regimes across the world, observes Shreekant Sambrani.
Reliance Industries was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by Kotak Bank, Maruti, HDFC twins, Titan, L&T and Axis Bank. On the other hand, IndusInd Bank, ONGC, ITC and Bajaj Auto closed with losses. the NSE Nifty settled 516.80 points, or 6.62 per cent, up at 8,317.85.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
Market breadth was weak with 1,260 advances and 1,597 losers on the BSE.
The 30-share Sensex ended higher by 31 points at 26,591 and the 50-share Nifty gained 10 points at 8,061.
The rupee showed range-bound movement on Wednesday as investors preferred to stay cautious in the unsure market.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Continuing its probe into covert activities of Lashkar-e-Tayiba, the National Investigation Agency has arrested a man hailing Bihar in the national capital,
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
Analysts say the sell-off in risky assets will be temporary and could be a buying opportunity for long-term investors.
The Indian rupee ended slightly lower at 64.01/02 per dollar compared with Tuesday's close of 63.98/99 per dollar due to month-end dollar demand by importers.
The US election campaign has provided plenty of ammunition for the CCP to make its case that its political system is superior.
In the Silicon Valley of India, one can use the cryptocurrency to pay for food, buy bus tickets, order stuff online, and even get a haircut.
Markets ended in green on rate cut hope.
How the demonetisation drives in India and Venezuela have played out.
Markets in green tracking firm global cues.
Twelve persons including a Bangladeshi woman were arrested for allegedly duping people by offering American dollars in exchange of Indian currency at a cheaper rate, a senior police official said on Monday.
Pharma shares extended losses after the government's ban on combination drugs.
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
At a time when the US dollar is taking a major hammering in the global markets, including against the rupee, American President George W Bush has said that market forces would have to determine the value of the dollar against international currencies.
It's five months after 8/11. But this is not the first time that India's currency of the time faced the axe. The Mughals, after invading a territory, would effect the demonetisation of the local currency with the aim to cripple the economy of the land.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
The S&P BSE Sensex closed at 26,190, up by 43 points and Nifty50 settled above 7,950 to end at 7,963, up by 17 points
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
Market participants are now awaiting Thursday's meeting of the European Central Bank
As traders obsessively follow US presidential elections, expect a surge in case of a change of guard in the Oval Office.
The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.
riminals smuggle an estimated $30 billion in US currency into Mexico each year from the US, researchers said.
The rupee has been on northward-ho since July, after hitting a life-time low of 57.13 mid-June. Since the beginning of the year, the local currency has gained over 7 per cent, and still it is down 18 per cent from its pre-August 2011 highs.
The Fed has prepared the world very well for a rate hike. In fact the market may have priced in a 25 basis points increase. So if the increase is 50 basis points, the reaction could be stunning, but a 25 basis points rise is not likely to have any great impact, says P V Subramanyam.
'If there is one certainty in this visit, it is that Trump does not follow a script. He is unpredictable,' highlights Ambassador B S Prakash.
The sharp and sudden fall in the exchange rate of the Indian currency in relation to the American greenback has taken many by surprise.
In the last four days, rupee has lost 104 paise against the dollar.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Will the rupee keep falling in value against the US dollar? What will be its impact?
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