In a quiet trade at the Interbank Foreign Exchange (Forex) market, the local currency resumed firm at 39.46/48 a dollar from Wednesday's close of 39.5450/5500 a dollar, but later trimmed gains at 39.49/50 per dollar in late morning deals. It swung in a range of 39.46 and 39.53 in early trade.
On the Sensex chart, ICICI Bank, HDFC Bank, Axis Bank, IndusInd Bank and Bajaj Finance emerged as the major laggards, dropping over 6 per cent.
Rupee weakened by 10 paise to end at 66.14 against the dollar due to month-end demand from importers and banks.
Technical analysis can help you understand market trends so that you can make informed investment decisions, says Rupak De, senior technical analyst at LKP Securities.
Other gainers included Nestle India, Asian Paints, Bajaj Finance, NTPC, L&T, Axis Bank and Bajaj Auto. On the other hand, TCS, ONGC, Infosys, HDFC and SBI were among the laggards. NSE Nifty surged 121.65 points or 1.03 per cent to 11,889.40.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
2nd time within a few days RIL has hit the forex debt market.
Rupee is likely to remain under pressure due to domestic concerns.
L&T was the top gainer in the Sensex pack, rallying 4.81 per cent, followed by M&M, Sun Pharma, Tech Mahindra, NTPC, SBI, ICICI Bank and Titan.
The edtech major promised a learning revolution, offering hope to millions of under-educated youth. Now, those dreams are shattered, observes Devangshu Datta.
The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 82.68 against the greenback, then slipped further to 82.69, registering a fall of 39 paise over its previous close.
India's gold reserves were also up by $297.7 million to $19.33 billion
The RBI also asked the oil marketing companies to smoothen their daily dollar demand so that upcoming bunched up demand was covered in advance in forward markets or on days with low dollar demand.
The RBI also asked the oil marketing companies to smoothen their daily dollar demand so that upcoming bunched up demand was covered in advance in forward markets or on days with low dollar demand.
Rupee logs longest winning streak since 2012; up 19 paise.
The Indian rupee on Friday rose for the fifth straight session against the Greenback and ended at 62.46.
India's foreign exchange reserves surged ahead in the first week of the new fiscal following fresh accretion of over $1 billion to move past the record levels of $112 billion during the week ended April 2, 2004.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
All the wholesale commodity markets, including bullion, metals and steel, will be closed in New Delhi on account of 'Dussehra'.
Gold prices zoomed to set another record level on the bullion market on Monday on brisk buying and gained another Rs 50 to touch Rs 6,020 per ten gram, triggered by heightened concerns over possible US attack on Iraq.
Fin Tech raises Rs 450 cr through FCCBs.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The US dollar index, which measures greenback's strength against a trade-weighted basket of six major currencies, was up 0.14 per cent at 96.74.
The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.
Maruti Suzuki India on Wednesday reported a 42 per cent rise in consolidated net profit to Rs 2,671 crore for the fourth quarter ended March 2023, driven by higher sales, improved realisation and favourable forex movement. The country's largest carmaker logged a net profit of Rs 1,876 crore in the January-March of 2021-22. Net sales during the fourth quarter rose to Rs 32,060 crore compared to Rs 26,749 crore in the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing.
The Reserve Bank of India had taken steps to tighten liquidity in a bid to curb volatility in the forex market after the rupee fell to a record low of 61.21 to the dollar on July 8.
Indian equity, forex, money and commodity markets will remain closed today on account of Mahashivratri.
Extending losses for the second straight session, the rupee slipped by 11 paise at 66.54 against the US dollar.
Since the start of the year, the RBI has had to contend with rising inflation and increased liquidity in the financial system causing it to raise CRR and repo rate to reign in the excess money.
The rupee continued to resist the pressure from oil companies and appreciated marginally against the US currency in Wednesday morning dealings.
The greenback's strength against other Asian currencies and lacklustre local equity markets made the rupee depreciate.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
It is the rupee's biggest single-day gain this year.
Robust capital inflows alongside a slightly weaker greenback too reinforced the dominance of the home currency
