Top performers were PowerGrid, ONGC, Ultratech Cement, Asian Paint, Kotak Bank and Titan. Nifty settled with a gain of 232.40 points at 14,761.55.
The Appellate Tribunal for Foreign Exchange has upheld the penalties imposed on 10 MNCs, including Ericsson, Nokia and Sony by the Special Director of Enforcement for violating foreign exchange regulations.
Foreign exchange reserves increased $675 million to $164.023 billion for the week
The total foreign exchange earnings in March this year were Rs 5,507 crore (Rs 55.07 billion) as compared to Rs 4,437 crore (Rs 44.37 billion) in the corresponding period last year and Rs 5,035 crore (Rs 50.35 billion) in March 2008, an official statement said.
Banks had raised about $34 billion through the FCNR (B) from deposits from NRIs in September 2013.
The rupee's fall against the dollar is bad news for companies which have increased their exposure to foreign currency loans in recent years.
HUL was the top gainer in the Sensex pack, rising around 2 per cent, followed by TCS, ITC, Asian Paints, HDFC, HCL Tech and Nestle India.
The country's foreign exchange reserves rose by $954.6 million to $294.36 billion on account of gains in the value of gold reserves, the Reserve Bank said.
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Tata Steel, SBI, NTPC, Bharti Airtel, ITC and ICICI Bank.
Other prominent gainers included Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL and HDFC Bank. NSE Nifty rose 86.40 points or 0.76 per cent to close at 11,503.35.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
M&M was the top gainer in the Sensex pack, rallying around 6 per cent, followed by PowerGrid, Tata Steel, IndusInd Bank, Reliance Industries, HCL Tech, ONGC and Infosys. On the other hand, Bajaj Auto, Asian Paints, Sun Pharma, HDFC and Nestle India were among the laggards.
India's foreign exchange reserves surged by $1.26 billion to $292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by IndusInd Bank, PowerGrid, Axis Bank, HCL Tech, NTPC and ITC. On the other hand, UltraTech Cement, TCS, Tata Steel, Titan and HDFC were among the gainers.
HUL was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tata Steel, Infosys, Maruti, IndusInd Bank, L&T, Asian Paints and TCS.
India's foreign exchange reserves are at an all-time high.
In the Sensex pack, HDFC, ONGC, Bharti Airtel, Titan, Asian Paints, Mahindra and Mahindra and TCS were the prominent gainers. On the other hand, ICICI Bank, IndusInd Bank, NTPC, UltraTech Cement, Tech Mahindra and SBI were among the major laggards. On the other hand, HCL Tech, Tech Mahindra, HUL, Bharti Airtel and ICICI Bank were trading in the red.
Tech Mahindra was the top gainer in the Sensex pack, rising around 2 per cent, followed by Bharti Airtel, Maruti, ICICI Bank, SBI, HDFC Bank, Asian Paints and Reliance Industries.
PowerGrid was the top gainer in the Sensex pack, surging over 4 per cent, followed by Bharti Airtel, Tata Steel, NTPC, HDFC Bank, UltraTech Cement and Kotak Bank. On the other hand, TCS, Nestle India, Reliance Industries and HCL Tech were among the laggards.
Foreign exchange reserves moved up $845 million to $143.943 billion for the week ended December 9, 2005, according to the weekly supplement released by Reserve Bank of India
UltraTech Cement was the top gainer in the Sensex pack, rising over 3 per cent, followed by Kotak Bank, ICICI Bank, Asian Paints and Tata Steel.
Foreign currency assets increase by $3.902 billion
After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people. In fiscal 2020, the RBI had paid only Rs 57,128 crore in dividend to the government and the finance minister had budgeted only Rs 45,000 crore from the central bank. The higher payout followed the Bimal Jalan panel report that had set a new economic framework capital buffer for the central bank along with the contingency risk buffer at 5.5 per cent.
Forex dealers said besides robust month-end demand for the American currency from oil importers, dollar's strength against its rival currencies on expectations of rising interest rates amid lingering Sino-US trade tensions, weighed on the domestic currency.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Foreign exchange reserves have hit a fresh high.
Strong month-end demand for the US currency mainly from oil importers along with currency futures expiry related purchases predominantly weighed heavily on the forex market and haunted investor sentiment.
Titan was the top gainer in the Sensex pack, climbing over 4 per cent, followed by Bajaj Auto, Maruti, Reliance Industries, ONGC and UltraTech Cement.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
Bombay Stock Exchange and the National Stock Exchange, Forex and money market will remain closed on Thursday, February 13, on account of Id-ul-Zuha.\n\n
The reserves had dipped by $1.12 billion in the previous reporting week.
Equity benchmark Sensex tanked over 1,000 points in the opening session on Friday tracking losses in index majors ICICI Bank, HDFC twins and Reliance Industries amid a negative trend in global markets.
Tech Mahindra was the top gainer in the Sensex pack, spurting around 3 per cent, followed by Titan, Nestle India, HUL, ITC, Asian Paints and HDFC duo. On the other hand, Bharti Airtel, Tata Steel, IndusInd Bank, M&M and Sun Pharma were among the laggards. NSE Nifty rose 25.15 points or 0.22 per cent to 11,247.55.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
India's foreign exchange reserves nearly hit a nine-month low and fell by $5 billion to $302 billion for the week ended December 16, on account of revaluation in foreign currency assets.
India's foreign exchange reserves strengthened by $544.7 million to $275.35 billion on a healthy increase in the core currency assets in the week ended September 13.
India's foreign exchange reserves declined $1.73 billion to $254.21 billion during the week ended May 15, 2009, mainly due to revaluation of currencies.
India's foreign exchange reserves grew by $297 million to $141.20 billion for the week ended April one 2005,
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