After a strong advance ahead of the US Federal Reserve’s policy statement later today, cautious investors booked profits, causing India’s share market to drop for three consecutive days, with the Nifty down about 600 points since Monday. After a strong 6.1 percent comeback from late November lows, the NSE index has fallen 2.5 percent since…
Because the Reserve Bank of India (RBI) is expected to intervene, market participants anticipate a slight devaluation of the rupee, which will prevent the FX market from experiencing extreme volatility. By the end of December, the rupee should be trading around 84.50 to the US dollar. Tuesday saw it fall to a new low of…
With foreign portfolio investors (FPIs) purchasing shares valued at nearly $7 billion, September has emerged as the strongest month for foreign inflows in 2024. Based on data provided by NSDL, this represents the greatest net buying since December 2023. From $873 million in August to over $6.85 billion in September, the FPI’s net buying activity…
Even though the US Federal Reserve began its easing cycle with an unexpected 50 basis point reduction, Emkay Global stated that even though the Reserve Bank of India has more than 20 days until its next MPC meeting, it still has the flexibility to continue focusing on managing risk and household inflation. And it said…
After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
The September WTI (West Texas Intermediate) and Brent oil futures were down 0.31 and 0.27 percent, respectively, to $84.62 and $80.59. Tuesday’s first hour of trading saw July crude oil futures on the Multi Commodity Exchange (MCX) trading at ₹6,828 against the previous close of ₹6,847, down 0.28 percent, and August futures at ₹6,752 against…
In early trading on Wednesday, the rupee was moving in a limited range vs the US dollar, with local equities showing little movement. Because of the ongoing withdrawals of foreign funds, forex traders reported that investor mood was negatively impacted by the rupee’s narrow trading range. The local currency’s value versus the dollar at the…
The positive momentum persisted as the Nifty50 rose above 19,200 on November 3 for the first time in the previous eight sessions, supported by encouraging global cues and an advance across all sectors. After a two-week losing run, the Indian benchmark indexes completed the turbulent week on 3 November with a percent gain amid favorable…
The lowest commodity prices since March 3, improved economic indicators, foreign money inflows, and the Indian rupee all contributed to its best week since that date. The local rupee was helped by the broad-based decline in the value of the dollar following the Fed’s rate-pause announcement. According to the official data, there have been over…
In a light trading session on June 12, the Indian rupee ended with little change against the US dollar as investors awaited important CPI data and US Fed policy. The local currency increased 0.04 percent from its previous close of 82.47 to close at 82.43 for every dollar. The starting price of the currency was…
