The dollar index surged to multi-year high.
2019 appears a story of two halves for Indian equities - a more difficult first half might precede a stronger second half, said Abhiram Eleswarapu, bottom, left, Head of India Equity Research, BNP Paribas in an interview with Ashley Coutinho.
The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions. As per the survey, the current spike in consumer price-based retail inflation of food prices is mainly a supply-side phenomenon. The survey noted that the weights of all items in retail inflation are based on the NSO household consumption expenditure survey of 2011-12, adding the weight of food items in the index might have significantly decreased over the decade since then.
Gains were led by index heavyweights with Reliance Industries contributing the most.
The rupee declined marginally by 3 paise to 66.03 per dollar on fresh demand for the US currency from banks and importers.
Recovering from early losses, the rupee on Friday ended marginally higher at 64.81 against the US dollar.
If a holiday, banks will have to report the details on the next working day.
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
State Bank of India's house economists on Monday said the recent farm sector reforms reek of parochial thinking and promote lazy farming as they only cater to cereal-producing states. In the recently concluded monsoon session, the government rushed through three legislation to change the way agricultural produce is marketed, sold and stored by dismantling the decades-old APMC (Agricultural Produce Market Committee) mandis.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
Increased demand for the dollar weighed on the local currency.
The domestic currency had gained by 80 paise, or 1.19 per cent, in previous five trading days.
The Rupee is expected to weaken further against the dollar.
The Reserve Bank said overseas direct investments by Indian companies, including Bharti Airtel, totalled $2.37 billion in February, up about 30.25 per cent year-on-year.
Fag-end selling of dollars by banks and exporters
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
'There are some encouraging signs.' 'Notice that we have not said 7%-plus, we are keeping it at 6% to 6.5%.'
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
On Wednesday, the rupee had dropped by 26 paise.
The 2015 World Bank group's Doing Business index ranked India at 142, down from 140, which it was the year before.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
In New York, the US currency fell against the Australian dollar and British pound on Monday as investors continued to weigh the potential weather drag on recent economic data, and whether or not it could sway monetary policy.
China, the Ukraine crisis and Quad will dominate the discussions, observes Dr Rajaram Panda.
The rupee resumed higher at 64.40 a dollar from Friday's close of 65.24 and touched a low of 64.54 at the interbank foreign exchange market.
The rupee ended marginally higher by two paise at 62.24 against the dollar on Wednesday.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
RBI may hold rates steady as economic parametes are going strong, say experts.
In the global market, dollar fell against most of its rivals on Monday.
Banks and exporters preferred to reduce their dollar position in view of its weakness.
Financials are the top gainers along with index heavyweights.
At the Interbank Foreign Exchange Market, the rupee resumed lower at 59.72 a dollar from the previous close of 59.67 and declined to a low of 59.88. It bounced back on dollar selling by exporters and some banks, touching a high of 59.30 before settling at 59.35, a rise of 0.54 per cent.
The rupee had shed 13 paise to close at 64.04.
India leads global remittances in the year 2013 with a whopping $70 billion in its kitty, of which USD 65 billion were earned from the country's flagship software services exports, the World Bank reported.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
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