In the forward market, the premium for dollar moved up on fresh paying pressure corporates.
It is the rupee's biggest single-day gain this year.
Chief Minister Sukhvinder Singh Sukhu said efforts are on to rescue the 300 stranded people, and they could be airlifted as the weather clears. Power and water supply has been snapped in several areas.
All categories of NRI deposits saw net inflows in July.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
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The local currency opened at 62.20 a dollar from the previous close of 61.93 and immediately touched a low of 62.29 at the interbank foreign exchange market.
The boat, with a high-power motor, was en route to Talaimannar from Tuticorin late Monday night when a naval patrol vessel intercepted it.
The rupee on Monday ended lower by 23 paise to close at an over two-week low of 67.31 against the US currency.
With the benchmark Sensex witnessing a dream-run, total market valuation of BSE listed companies has inched closer to Rs 100 lakh crore milestone.
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While the measures are aimed at moderating outflows, RBI added that genuine requirement beyond these limits will continue to be considered under the approval route.
Following a gap of several months, global brands like Walmart have started lifting orders from Tiruppur's garment makers, leading to growth in knitwear exports in January after five months. Knitwear exports from Tiruppur increased 1.5 per cent in dollar terms and 11.6 per cent in rupee terms in January. According to the Tiruppur Exporters' Association (TEA), global majors have started placing more orders from the region.
The Opposition party lashed out at the Modi government over the issue, saying the problem with most of ministers is that they are so eager to prove their loyalty to 'their master and be his voice' that they have forgotten that they are sworn to certain responsibilities.
Markets extended losses to end 1.5% down on Tuesday, amid weak global cues, after investors turned cautious ahead of key economic data and booked profits in rate sensitive shares while the further fall in the rupee continued to weigh on investor sent.
Overall forex market sentiment remained cautious
'I was a young pilot in the IAF and Tom Cruise (with his genuine Ray-Bans) was now an icon with his sensational performance in Top Gun.' 'The IAF, maybe influenced by the movie, decided to 'issue' pilots Ray-Bans as part of their flying kit,' remembers IAF Veteran Air Commodore Nitin Sathe.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Gold prices are likely to decline further to around Rs 24,500 per 10 grams by December if the rupee continues to rule at the current level.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
Dollar's strength against other currencies overseas capped the rupee's gain
Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16 per cent, followed by Maruti, Titan, Bajaj Finance, HDFC, Bajaj Auto and Hero MotoCorp. On the other hand, HUL, Tech Mahindra, IndusInd Bank and Nestle were the laggards.
The defence minister also took an indirect dig at Gandhi for "doubting" the government's intention in the handling of the border row with China and said politics can not be done on the basis of "falsehood".
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
Robust capital inflows alongside a slightly weaker greenback too reinforced the dominance of the home currency
The rupee has been witnessing an unprecedented plunge in its value as it dropped to an all-time intra-day low of 68.75.
Bullish dollar sentiment overseas alongside sluggish domestic equity market predominantly impacted the domestic currency
As COVID-19 infections spike in the country resulting in restrictions in various states and impacting the fragile recovery, many economists are expecting RBI to delay the policy normalisation move, which is expected in the February review. The country has reported a single-day rise of 58,097 new Covid-19 cases as of Wednesday morning--the highest in around 199 days -- of which 2,135 are Omicron cases and later in the day, the first confirmed Omicron-related death has also been reported. Maharashtra recorded the maximum number of 653 Omicron cases followed by Delhi at 464, Kerala 185, Rajasthan 174, Gujarat 154 and Tamil Nadu 121 cases, taking the total tally of cases to 3,50,18,358.
Kumar deposed before the federal probe agency in New Delhi and the investigators are recording his statement under the provisions of the Prevention of Money Laundering Act (PMLA), they said.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
Tech giant Microsoft Corporation has invested nearly $5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares on a private placement basis by the latter, according to a regulatory filing by the hospitality chain. An extraordinary general meeting of Oravel Stays Pvt Ltd (OYO), which runs the OYO Rooms chain of hotels, on July 16 approved issue of the equity shares and Series F2 compulsory convertible cumulative preference shares (Series F2 CCCPS) for "an aggregate consideration amounting to rupee equivalent of $4,971,650 to Microsoft Corporation on a private placement basis", as per an RoC filing by the company.
Strong MF investments, stemming of FII outflows and positive earnings in Q3 have helped market, say analysts.
Flow of money into non-resident Indian (NRI) deposits moderated sharply to $3.23 billion in April 2021-March 2022 from $7.36 billion in the same period of the previous year. Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.
The scam-ridden Congress government in Chhattisgarh has become a model of misrule and people have decided to root it out in the upcoming assembly elections, he said.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
Reacting to market specific developments, the domestic unit touched a low of 66.74 in intra-day trade before concluding at 66.65.
Akshay can take solace from the fact that Ram Setu will emerge his biggest grosser amongst all his theatrical releases of 2022.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
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