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In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
Dollar's strength against other currencies overseas capped the rupee's gain
In New York Market, the US dollar rose against the Australian dollar on Tuesday as gold futures dropped more than two per cent and investors anticipated Chinese data that is likely to show a slowing of growth.
The partially convertible rupee closed at 60.30/31 per dollar compared with 60.28/29 on Friday.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
Gold slips by Rs 150 on low demand.
Forex dealers said besides the dollar's gains against other currencies overseas, increased demand from importers for the American unit put pressure on the rupee but a higher opening in the domestic equity market capped losses.
The central probe agency issued a provisional order under the Prevention of Money Laundering Act for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh. A cottage and house in Somerset in the UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
Auto stocks are weighing on the indices.
At the Interbank Foreign Exchange market, the domestic unit commenced higher at 61.80 a dollar from previous close of 61.92.
'The amount involved could as high as Rs 3,500 crore as there are a lot of depositors.' 'Yesterday, I met an investor who put in Rs 4 crore. That man doesn't have Rs 2,000 to spend on medicines.'
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
Traders also say oil-related dollar demand is capping broader gains in the rupee.
'Amendments in the past have created fear. This will take it further.'
Even the persistent rise in equity market failed to restrict the rupee's fall.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
The time is nigh for India to ensure that investment by its former citizens is encouraged by protecting their rights, says C B Patel.
Traders said lack of buying support from retailers and jewellers who preferred to keep their activity restricted, anticipating further fall in coming days, mainly kept gold prices unchanged.
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
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Analysts worry that without more fundamental reforms, India will struggle to contain its record high current account deficit and hence support the rupee.
RBI, Enforcement Directorate to see if money was sent to tax haven
The rupee has lost 37 paise or 0.55 per cent in two days.
The rupee recovered by three paise to close at 67.65 on fresh selling of dollars by banks and exporters amidst a recovery in equities.
The rupee gained 28 paise on Thursday to close at 62.50.
In worldwide trade, the American dollar traded with solid strength against all major emerging currencies
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
In recent sessions, shares have rallied on hopes Hindu nationalist opposition leader Narendra Modi, a more business-friendly candidate, is seen coming to power on promises of economic revival and jobs.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
Asia-focused bank Standard Chartered has extended its sponsorship of Liverpool Football Club for two years, continuing one of the most lucrative deals in English sport.
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
The tea industry, hit by rising costs, falling prices and political unrest in the North Bengal plantations, is especially vulnerable to the COVID-19 lockdown.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
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