The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
The rupee is expected to become more jittery and choppy in the near-term
The Czech Republic cruised to a 2-0 lead after the opening singles of the Fed Cup final against Serbia on Saturday, putting them well on course to successfully defend their title.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
The US Federal Reserve late on Tuesday slashed its lending rate from 1 per cent to zero to 0.25 per cent.
Markets continued firm trades with buying interest seen in realty, metal and banking shares. The BSE Sensex has gained 386 points (over 2 per cent) at 18,407, after touching a high of 18,456. Nifty is up 118 points at 5,553.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
Former world number one Andy Murray is in line to play Grigor Dimitrov in the opening round of the inaugural ATP Cup, with Bulgaria qualifying among the final six teams in the nation-based tournament.
'India's sizeable forex reserves should help stem a possible fall in our currency.'
The mid-and small-cap segments at the bourses have outperformed their larger peers thus far in fiscal 2023-24 (FY24). While the S&P BSE Small-cap index has surged around 5.7 per cent in FY24, the S&P BSE Midcap index has gained 4 per cent during this period. In comparison, the S&P BSE Sensex has moved up around 2.2 per cent.
Russia closed in on a Fed Cup semi-final victory over the United States after Anastasia Myskina beat Venus Williams.
Fed Cup holders Italy overcame two stern tests on Sunday to beat Ukraine 4-1 in Kharkiv and book their place in the semi-finals where they will play the Czech Republic.
Uppal said India didn't play to its potential but showed great fightback to clinch the tie.
Addressing a big rally in Kolkata to launch the Bharatiya Janata Party's Lok Sabha campaign, Shah launched a blistering attack on Chief Minister Mamata Banerjee on the issues of appeasement, infiltration, corruption and political violence, alleging she has "destroyed" the state.
Research shows the US Fed doesn't get its predictions right as often as we would like to believe. With India and China in an upbeat mood, the dark days of last September are slowly fading in memory.
The Madras high court has observed that persons in power should realise the danger of remarks with "fissiparous tendency" and pulled up the police for their alleged failure to take action against some ruling DMK ministers who had participated in an anti-Sanatana Dharma meeting held in Chennai in September.
Maria Sharapova has been left out of Russia's Fed Cup first-round tie against Italy later this month because of her hectic tournament schedule
The central bank also left the benchmark rates unchanged in the range of 0 to 0.25 per cent. The Federal Open Market Committee which decides on the key rates has retained the same near zero and said economic conditions warrant 'exceptionally low levels' of federal fundsfor a longer period.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Indian women stormed into the finals of the Fed Cup (Group-II) Asia-Oceania tennis tournament in Hyderabad following another one-sided 2-0 victory over Turkmenistan.
'People remember each and every dialogue of Andaz Apna Apna, just as they remember every dialogue of Mughal-e-Azam and Sholay.'
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
Manchester United's Alejandro Garnacho scored with a magical overhead kick in the third minute to send the visitors on their way to a 3-0 victory over an Everton team already reeling in their first Premier League game after being docked 10 points.
Rajkumar Hirani has a mastery in bromance. In Dunki, Sukanya Verma doesn't feel that chemistry one bit, it's more like SRK babysitting a bunch of clueless kids running helter-skelter in a garden believing the grass is always greener on the other side.
Sania Mirza was on Monday named to spearhead the four-strong Indian challenge in next month's Fed Cup, where the country will strive to get back to Group I in the Asia/Oceania zone.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
The Indian ace would miss the women's team event as she is recuperating from an ankle injury
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Markets end in red; bluechips struggle to keep pace.
Summers dogged by controversies over past views
The broader NSE Nifty dropped by 48.65 points, or 0.45 per cent to 10,808.05 after shuttling between 10,773.55 and 10,833.70.
Bukayo Saka scored either side of halftime as Arsenal crushed second-bottom Burnley 5-0.
Judy Murray, mother of World No. 4 Andy, was named as non-playing captain of Britain's Fed Cup women's tennis team on Thursday.
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex dropped 187.31 points or 0.31 per cent to settle at 60,858.43.
Mary Pierce edged Vera Zvonareva 6-4, 3-6, 6-3 to send France into the Fed Cup final against the United States.
A gradual increase works best for the US, as well as global markets, says Nizam Idris managing director, head of strategy (fixed income and currencies), Macquarie Bank.
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