Demonetisation, Donald Trump's surprise victory in the US presidential elections, and the fear that US Fed may hike rates in the upcoming policy review in December have dented market sentiments, report Puneet Wadhwa & Deepak Korgaonkar.
Fresh demand for the US currency from importers and banks alongside sustained capital outflows by foreign funds weighed on the local unit
Besides, a sharp 8% decline in Chinese stocks added to the sell-off in domestic equities
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Bars FII from issuing offshore derivative instruments on grounds of rules violation.
A weak dollar in overseas markets also strengthened the rupee sentiment
Sustained demand for the dollar is the reason.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
Market experts attributed the huge sell-off to weakness in Indian currency.
Rise in crude oil price and rally in global equities aided the sentiment
This is the fourth straight weekly plunge for both the indices.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government is believed to have rejected a proposal of Bharti Global Ltd for acquiring up to 49 per cent stake in Bharti Tele-Ventures.
Overseas investors witnessed net inflow of Rs 24,563 cr in Feb
Government is believed to have given the go ahead to cola giant Pepsico to acquire one of its franchisees by bringing overseas funds while making it mandatory on the soft-drink conglomerate to divest 49 per cent equity in the same within five years.
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
Increased demand for the dollar weighed on the local currency.
The board of Unitech Ltd, the country's second largest realty company, has approved a plan to raise Rs 5,000 crore through debt and equity issues and will convene an extraordinary general meeting on January 19, 2009 for shareholder approval. Sanjay Chandra, Unitech managing director, said today's proposal was a flexible enabling provision.
Foreign investors have pumped in a staggering Rs 98,802 crore or Rs 988.02 billion.
The rupee had risen for the fifth straight session on Thursday.
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
Markets rallied because of huge inflows by overseas investors.
Persistent foreign capital inflows also boosted sentiment.
With the rupee crossing Rs 72/dollar in recent times, things suddenly don't look too good on several counts.
The rupee recovered from initial losses against the American currency and was quoted higher by 6 paise to 62.00 on fresh selling of dollars by banks and exporters in view of strong foreign capital inflows into equity market.
Traders said gains in equities and a stronger dollar dented demand for the precious metals too.
Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
'The Indian market has all the factors at the moment: Over-valuation, over-confidence, reliance on some source of massive fund flows and massive scams.' 'The trigger for a collapse could also have arrived.' warns Devangshu Datta.
Gold in Singapore, which normally sets price trend on the domestic front, fell from three-month high by declining 0.6 per cent to $1,312.48 an ounce.
This is the highest since May 2008, when the cumulative value of such investments stood at Rs 2,34,933 crore
The BSE 30-share Sensex has plummeted by 1,631.59 points or 6.24% to 24,485.95 so far this month
HCL, MindTree in the fray. The company is reportedly in talks with Delhi-based HCL Technologies and Bangalore-based MindTree. HCL, with whom discussions are on for a cash-less merger, seems to be the front-runner, investment banking sources said.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
Healthy demand for the American unit from importers and corporate weighed on the rupee
