The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
Rising for the second session, the Indian rupee on Thursday climbed by 50 paise to nearly four-week high of 62.67 against the greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Domestic equity markets opened with losses which capped the rupee gains.
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
Without some firmer pledge of debt relief, neither Greece nor the IMF is likely to accept a deal
Global liquidity expected to continue amid ECB stimulus
Tough conditions imposed by global lenders could cause an outcry.
Stating that growth impulses and the fast-moving indicators are strong, Reserve Bank Governor Shaktikanta Das on Wednesday exuded confidence of the economy clipping at the projected 9.5 per cent this fiscal. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now.
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
While enjoying long-awaited economic good times - and hoping they will last as long as possible - some caution and some prudence might be the best protection against bad surprises, says Claude Smadja.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
The 30-share BSE Sensex closed down 162 points at 28,338 and the 50-share Nifty was down 67 points at 8,463.
Metals bucked the trend and shone across the board.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
In the broader market, the BSE Midcap was down 0.2%, while BSE Smallcap fell 0.1%.
The economic impact of the Omicron variant of COVID-19 on emerging economies will depend on a mix of government restrictions, public comfort with social interactions, and capacity of governments and central banks to provide additional policy support to the private sector, Moody's Investors Service said on Wednesday. The emergence of the new variant poses new risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days. These restrictions will likely increase over the coming weeks until scientists learn more about the variant, it said.
'When my father travelled 5,000 miles to build a new home in Ireland, I doubt he ever dreamed that his son would one day grow up to become its leader.' Vaihayasi Pande Daniel/Rediff.com profiles Dr Leo Varadkar who will step down as Ireland's taoiseach (prime minister) next week.
Rupee ends day stronger against the dollar.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
Euro zone leaders clinched a deal with Greece on Monday.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
Officials said Sebi is closely in touch with RBI on the market developments.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
The situation in Greece worsened with banks closed for a 2nd week.
The Bank of Japan's action has nullified the effects of the end of the US' quantitative easing programme but the dependence of foreign institutional investors remains a concern
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
Unless there is a sharp uptick in oil prices, Fed may push back rate hike
Reliance chairman Mukesh Ambani has moved 2 ranks ahead this year on the most powerful list.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
No stock on BSE Sensex ended in red while only 3 stocks in the broader Nifty50 index settled the day negative
The silver lining is that a pick-up in the US economy could help emerging market exports.
The overall breadth was negative as 1,658 stocks declined while 1,048 stocks advanced.
Accommodative monetary policy has driven a bull market in stocks in recent years, but the Bank of England is expected to raise interest rates early next year and the U.S. Federal Reserve not long after, tempering future gains.
However, the central bank is yet to implement the government directive, which was issued after a decision of the empowered Group of Ministers, director general of the export promotion council for EOUs and SEZs L B Singhal said at an Assocham function in Chennai.
The markets stayed on edge last week due to the endless saga of Greece's problems.
What might be useful is targeted assistance to those sectors and individuals that are disproportionately affected, suggests Mihir S Sharma.
Sitharaman, a newcomer on the Forbes most powerful women list, is ranked 34th. The Forbes 2019 list of 'The World's 100 Most Powerful Women' has been topped by German Chancellor Angela Merkel, followed by President of the European Central Bank Christine Lagarde in the second spot and Speaker of the US House of Representatives Nancy Pelosi, ranked third. Also on the list is Bangladesh Prime Minister Sheikh Hasina (29).
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