Risk sentiment is likely to be favourable if oil prices stay benign, global growth sentiment remains robust and the dollar index does not break out, says B Prasanna.
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.
India will extend the visa-on-arrival facility to all countries except eight with effect from September. The countries not covered under this single-entry e-visa facility, meant for purposes other than paid employment and education with a one-month time limit, are Pakistan, Sudan, Afghanistan, Iran, Iraq, Nigeria, Sri Lanka and Somalia. The facility is currently available to 11 countries, including New Zealand, Singapore, Luxembourg, Japan and Finland.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
Experts believe it can touch 63 against the dollar
RBI's steps will prevent rupee from slipping, even if OMCs meet entire $ demand from market
'Through the course of the year, we expect the economic weakness generated by demonetisation will give way to normalisation of growth conditions.'
After opting for status quo in policy rates, Reserve Bank Governor Raghuram Rajan on Tuesday said any more cut will depend on further transmission of previous rate cuts by banks, softening in inflation and progress of monsoon.
Markets now expect the Fed to normalise rates gradually.
The big test will come at the end of March when the fiscal year ends and banks tend to hold on to cash.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
The euro skidded to a 6-week low of 133.700 yen in the early session.
The Enforcement Directorate (ED) has sought legal assistance from Singapore and Mauritius to take forward its probe in the alleged financial irregularities in the Indian Premier League tournament (IPL) and its former chairman Lalit Modi.
Tata Motors was the top gainer on better-than-expected June quarter revenues
S&P is the only of the three major credit agencies with a 'negative' outlook on India.
The ED has attached assets to the tune of Rs 9,003 crore and filed 173 charge sheets in the financial year 2014-15.
Direct investors should stagger their investments over 1-2 months.
'It is time to allow the rupee to move towards its true value, as it is hurting Indian exports, investment and SMEs associated with export sectors that create jobs,' argues Pravakar Sahoo.
Motherson Sumi, Tata Steel, Jaguar Land Rover will face higher cost.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Keep exit plans handy, D-day could be the second week of August, writes Sonali Ranade in Market Notes.
It makes sense to wait for govt schemes such as gold bonds.
V G Mathew, managing director and chief executive officer of South Indian Bank speaks to Gireesh Babu, about demonetisation impact, rights issue and future plans.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
The RBI left key policy rates unchanged and cut the GDP growth estimate for this fiscal to 5.5 per cent from 5.7 per cent.
The derivatives expiry on Thursday is also expected to add to the volatility.
Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
In a nation divided by many things, the 12-digit unique identity number is holding lives to ransom.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The global realty consultant attributed the rise in PE investments to increased attraction of institutional investors towards leased income generating office buildings.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Engineering conglomerate fended off three corporate raids but emerged stronger.
The average bank customer does not know about the Customer Charter because it was designed - under Mr Rajan's regime - to be a lame duck initiative from the start: violating the charter has no consequences, points out, Debashis Basu.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
As regards India, market valuations already reflect most positives.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
Since mid-July, the RBI has taken steps to tighten cash conditions, which have failed to support the rupee but sent bond yields surging, posing a fresh threat to the already cooling economy.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
