Spot gold rose $8.32 an ounce to $1,474.56 by 0624 GMT, well below a lifetime high around $1,920 an ounce hit in September 2011.
The details of the operations to help Spain and Italy to raise funds at competitive rates would be worked out in the coming weeks.
Bajaj Finance was the top loser in the Sensex pack, tanking over 10 per cent, followed by Axis Bank, Maruti, M&M, Tech Mahindra and ONGC. The gainers included ITC, Bharti Airtel, Kotak Bank and Hero MotoCorp.
I still hold 25 per cent in equities, says Marc Faber.
The Bombay Stock Exchange's 30-share Sensex closed at 19,504 up 117 points. The National Stock Exchange's 50-share S&P CNX Nifty closed up 26 points at 5,930.
Forex dealers said rupee was under pressure throughout the session as dollar gained against rivals on hopes that European Central Bank will cut its main interest rate to a record low in a bid to support the region's economic growth.
Monetary policy easing, coupled with the relaxation of lending rules and greater election-driven fiscal spending in the first quarter of 2019, will provide some support to growth during the first half of 2019-20 fiscal
Both Europe and the US can learn a lesson from American history to overcome their debt problems.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US. Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green.
Markets would be keenly looking for fiscal deficit & subsidy figures and borrowing and divestment program.
European Central Bank's decision to take up an unlimited bond-buying plan is the reason
In New York market, the US dollar fell against the euro on Wednesday pushing the shared currency to its highest level in more than two months, after European Central Bank President Mario Draghi said the ECB is prepared to buy sovereign bonds of countries.
Markets surged to end over 2 per cent higher on Friday, amid strong global cues after ECB's bond buying programme, led by index heavyweights. The 30-share Sensex provisionally ended up 337 points at 17,684 and the 50-share Nifty ended up 104 points at 5,342.
The rupee had lost 13 paise to close at 55.66 on Tuesday because of fag-end dollar demand from importers.
The crisis and the painful, austerity-induced recession will focus anger on a relentless Germany.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
A lower opening in the domestic equity market put pressure on the rupee.
The Nifty ended at 5,060, down 94 points.
The ECB on Thursday cut its main refinancing rate to zero from 0.05 per cent.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
As per the official figures disclosed by Switzerland's central bank, the Swiss National Bank, total deposits of Indian individuals and companies with all the Swiss banks put together stood at about $2.5 billion at the end of 2010.
The European Central Bank is likely to cut interest rate in its meeting on Friday, which might prop up the government securities trading in India, market sources said on Thursday.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
While the Fed and the ECB slash and raise rates when needed, the RBI seems to move in just one direction.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Maruti Suzuki fell 0.7% even after its March quarter profit grew by 15.8% to Rs 1,709 crore in Q4
A year ago, Greece's bankers thought they were on the cusp of a new era.
"I'm short the dollar," Gates, chairman of Microsoft, said in an interview at the World Economic Forum in Davos, Switzerland.
Images from the Euro 2024 Round of 16 match between Austria and Turkey, at Leipzig stadium, Leipzig, Germany, on Tuesday.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
Thomas Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.
But gains in the rupee were kept in check as domestic shares faltered, ending a five-session gain.
Overseas investors were one of the heavy buyers.
Among the Sensex firms, Wipro, Axis Bank, Titan, UltraTech Cement and HDFC Bank, HDFC, HCL Tech and Reliance were the gainers.
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