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The partially convertible rupee closed at 66.24/25 per dollar after hitting a record low of 66.30, and down 2.9 per cent from its close of 64.30/31 on Monday.
Despite the recent imposition of import rule and high duties, the yellow metal continues to attract buyers.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
In the last financial year, GDP growth was 7.3 per cent.
But experts say downside limited, pockets of opportunities for investors
Higher growth, reform bets have boosted returns but leave limited room for error.
Anjuli Bhargava explains why so many young Indians are packing their bags to study abroad and the steps that need to be taken to stem this outflow.
Carlos Tevez is getting paid 615,000 a week at Shanghai Shenhua, making him the world's best-paid player. His salary is now more than Cristiano Ronaldo's and Lionel Messi's!
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
It will be difficult for the Indian equity to outperform overall growth to the extent bullish observers expect.
The former finance minister also criticised Prime Minister Narendra Modi over the words he chose to attack his predecessor Manmohan Singh, saying he should remember that the Chair he sat on was used by Pandit Jawaharlal Nehru and even Atal Bihari Vajpayee and hence he should use right language.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
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Given the 18-day government shutdown in the US and the likelihood for continued wrangling between the Democrats and the Republicans, it now looks like tapering may be off the table till the first quarter of 2014.
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Keep exit plans handy, D-day could be the second week of August, writes Sonali Ranade in Market Notes.
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