Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
The minister further said the rupee will regain the ground it lost against other currencies in the past few days.
The 10 IPL franchises have so far spent above Rs 388 crore collectively
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
Investments through participatory notes (P-notes) in the Indian capital market surged to a 27-month high of Rs 83,114 crore at November-end driven by continued liquidity and improvement in second quarter corporate earnings. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities -- increased to Rs 83,114 crore at November-end from Rs 78,686 crore at October-end.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Mark Mobius doesn't see any crisis brewing in emerging markets.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
Sensex and Nifty have been volatile in the past one year on domestic and global worries.
Dollar weakness was a major contributor to the rupee recovery as the skittish investors continued to lighten their long positions.
Militant labour policies compounded a poor security environment for capital in West Bengal and encouraged the business community to relocate. constraining the private sector's right to hire freely could well be the coup de grace. As with Calcutta/Kolkata, it will probably take a decade for Gurgaon/Gurugram to feel the difference, says Kanika Datta.
Healthy demand for the American unit from importers and corporate weighed on the rupee
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
In the last 3 months, rupee has depreciated 16% against dollar.
The recovery was led by pharma majors led by Dr Reddy's Labs.
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
Underscoring the need to boost the start-up ecosystem, the Reserve Bank on Tuesday said it will simplify rules and regulations which impede their growth and ensure that an entrepreneur does not have to run from "pillar to post" to start a business.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
Top losers in the Sensex pack included IndusInd Bank, Bajaj Finance, Tata Motors, Tata Steel, Hero MotoCorp, Axis Bank, M&M, Vedanta and Maruti, falling up to 3.50 per cent.
To unravel Khan's overseas business, one has to rewind to 10 years ago when Londoner Richard James Moore floated a real estate company called Winford Estates in Surrey.
The broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Indian equity markets are likely to witness volatility this week due to concerns over rising cases of coronavirus and expiry of derivatives contracts, analysts said. Further, progress surrounding the COVID-19 vaccine, related updates, US stimulus talks and global cues would dictate the market trend, traders said. "Going ahead, the market is likely to be volatile as sentiments oscillate between fear of rising COVID cases globally and optimism over vaccine progress. Investors would closely watch out development over the US stimulus talks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
In India, bond yields have fallen nearly 70 basis points in the last one year.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
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The Reserve Bank is scheduled to unveil its first quarter review of the monetary policy on July 30.
The 30-share Sensex ended down 261 points at 27,177 and the 50-share Nifty ended down 91 points at 8,214.
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
India's macroeconomic environment is improving, but it is still not past the point where it can ignore the developments in the global markets
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
AirAsia plans to sell 12 planes this year, a move that will bring in around 500 million ringgit ($156 million) in net profit.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
Sensex rally was driven by Bajaj FinServ, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank. NSE Nifty climbed 326.50 points to end at 15,245.60.
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