The Indian rupee tumbled in line with its Asian peers due to persistent risk-off sentiment on the back of broad dollar strength.
The balance sheet of the Reserve Bank plays a critical role in the functioning of the country's economy.
According to the revised forecast by HSBC, the rupee is likely to be around Rs 51 per USD (as against Rs 57 per USD earlier) by the first quarter ended March 31.
Infosys was the top gainer in the Sensex pack, closing 7.20 per cent higher as investors cheered its financial results. The IT major posted better-than-expected 5.3 per cent rise in its June quarter net profit, and raised revenue growth forecast for the current fiscal.
Air India had stopped the practice of issuing tickets on credit to government agencies for the travel of their officials in December last year because of accruing pending bills.
Top gainers in the Sensex pack included IndusInd Bank, ITC, L&T, M&M, PowerGrid, Asian Paints and SBI, ending up to 3.79 per cent higher.
Top gainers in the Sensex pack included Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank and RIL, rallying up to 3.23 per cent.
Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
The overall breadth was extremely positive as 1,714 stocks advanced while 1,008 stocks declined
Yes Bank was the biggest gainer in the Sensex pack, rallying 10.94 per cent. Other gainers included Sun Pharma, IndusInd Bank, L&T, ICICI Bank, Maruti, Bajaj Auto, Tata Motors and ONGC, rallying up to 4.01 per cent.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
Clearing the way for oil refiners to pay Iran in Indian rupee, the Union Budget has exempted the payments made for crude oil purchased from the Persian Gulf nation, from any local tax.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
Tata Steel was the biggest gainer in the Sensex pack, rallying 5.78 per cent; followed by Yes Bank, NTPC, L&T, Axis Bank, SBI, M&M, HDFC twins, Vedanta, HUL, PowerGrid, ICICI Bank, Kotak Bank, HCL, TCS and ITC, gaining up to 3.79 per cent.
The overall breadth was positive as 1,643 stocks advanced while 1,027 stocks declined.
Reversal is because of strengthening rupee, subdued demand, and lack of reasons for bulls to continue positions and speculation of reduction in import duty.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
While high interest rates, huge inventory of unsold stock is making one feel the prices of homes would come down, a fall in the Indian rupee over the past four months is making your dream homes expensive. Here's how.
The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
According to a report by financial and business research firm Evalueserve, there will be pressure on the Rupee unless steps are taken to fix certain structural issues like high current account deficit and dwindling investments.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
In the Sensex pack, Vedanta rallied 3.20 per cent, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.
If Nirmala Sitharaman does indeed present a 'never-before' like Budget on February 1, going by her promise, she would create a new benchmark for post-contraction Budgets, observes A K Bhattacharya.
The uncertainty over the gravity of the pandemic's impact on the global economy and financial markets worldwide triggered a flight to safety among foreign investors as they rushed to exit from relatively riskier investment destinations, such as emerging markets like India, a report said.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
The bourse has received approval from the capital market regulator Securities and Exchange Board of Indian and the RBI for introducing exchange traded currency options on dollar Indian rupee spot rate, NSE said.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
Rupee hits 2-month low against dollar on US rate hike fears.
In the last nine sessions, the Sensex had lost 1,940.73 points and the Nifty has given away nearly 600 points.
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
The rupee shed 6 paise to hit a fresh 1-month low of 62.31 on Thursday.
This is rupee's lowest since 62.32 on January 9.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
The ballooning of crude prices has significantly increased the country's oil import bill and it can also lead to a worsening of the current account deficit and fiscal deficit for the domestic economy.
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
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