Connect with us

Business

Rupee dives 17 paise against dollar in early trade

Published

on

Rupee

Mumbai | The rupee declined by 17 paise to 68.85 per dollar in early trade today due to appreciation of the American currency overseas. A weak trend at Dalal Street also weighed on sentiment at the Interbank Foreign Exchange market.

Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the rupee.

Yesterday, the domestic unit had ended lower by 5 paise to 68.68 against the US dollar on renewed buying interest for the greenback even as domestic equities remained in a triumphant mode.

Meanwhile, the benchmark BSE Sensex slipped from its record high, falling 106.02 points, or 0.27 per cent, to 37,918.35. The NSE Nifty too fell 25.50 points, or 0.22 per cent, to 11,445.20 in early trade today.

Business

Sensex cracks 408 points on global sell-off; Nifty below 10,400

Published

on

By

index

Mumbai | The benchmark BSE Sensex sank over 408 points in early trade on Friday on heavy selling in IT, energy and banking stocks triggered by weak trends in global markets.

The broader NSE Nifty dipped below the 10,400-mark as 32 of its constituents led by Indiabulls Housing Finance dropped. The NSE Nifty index fell 80.85 points, or 0.77 per cent, at 10,372.30. The BSE 30-share barometer dropped 408.45 points, or 1.17 per cent, to 34,371.13 in early trade.

IT, tech, auto, oil&gas and banks were trading in the negative zone, down up to 2.40 percent. The gauge had lost 382.90 points in the previous session on Wednesday.

Index heavyweight Reliance Industries dropped more than 5 per cent despite better-than-expected earnings posted by the company on Wednesday. RIL reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period. Other laggards were Yes Bank, Infosys, Hero MotoCorp, Infosys, M&M, Tata Motors, Wipro, Bajaj Auto, HUL, Coal India, L&T and HDFC Bank, falling up to 3.57 per cent. Sentiments also dampened after Chinese shares extended and the yuan touched its weakest level in almost two years.

Chinese stocks plunged 2.94 per cent, Japan’s Nikkei shed 1.17 per cent, Hong Kong’s Hang Seng shed 0.26 per cent following overnight losses at the Wall Street due to interest rate hike concerns and impact of tariffs. The US Dow Jones Industrial Average ended 1.273 per cent down Wednesday.

Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares to the tune of Rs 343.11 crore, while foreign portfolio investors (FPIs) bought shares worth Rs 140.02 crore on Wednesday, provisional data showed.  Markets remained closed on Thursday on account of “Dussehra”.

Continue Reading

Business

Rupee gains 6 paise against US dollar at 73.42

Published

on

By

Rupee

Mumbai | The rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling of the American currency by exporters and banks.

Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee. On Tuesday, the rupee had climbed 35 paise to close at nearly two-week high of 73.48 per dollar amid softening crude oil prices and easing concerns over the trade deficit.

Meanwhile, the benchmark BSE Sensex jumped 391.18 points, or 1.03 percent, to 35,553.66 in the opening trade.

Continue Reading

Business

Sensex jumps 267 points tracking global cues, strong earnings

Published

on

By

Sensex

Mumbai | The equity benchmark Sensex rallied for the fourth straight session Wednesday, and jumped 267 points, on encouraging second-quarter earnings by tech major Infosys and positive global cues.

The 30- share Sensex soared 267.26 points, or 0.76 percent, to 35,429.74. It had rallied 1,161 points in the previous three sessions. The broader NSE Nifty was quoting well above the key 10,600-mark. Nifty was up 81.70 points, or 0.77 percent, to trade at 10,666.45

Traders said the bullish movement was in line with upbeat Asian shares, following overnight gains at the Wall Street coupled with encouraging earnings by Infosys. Reliance Industries is scheduled to announce its second-quarter earnings later in the day. Reflecting the bullish mood, all the sectoral indices, led by tech, bank and realty were trading in positive zone with gains up to 1.47 percent.

Infosys emerged the top gainer in the Sensex pack, by surging 2.68 percent after the company Tuesday posted a 10.3 percent jump in its September quarter consolidated net profit at Rs 4,110 crore, helped by strong deal pipeline and traction in digital revenues.

Other big gainers were ICICI Bank, SBI, Yes Bank, Adani Ports, HUL, Vedanta Ltd, IndusInd Bank, Maruti Suzuki, HDFC Bank, Asian Paint, Axis Bank, Coal India, TCS, Bajaj Auto, PowerGrid, Kotak Bank, Bharti Airtel, RIL, Tata Motors, HDFC Ltd, ITC Ltd and Sun Pharma, rising by up to 1.35 per cent. Domestic institutional investors bought shares worth Rs 1,059.44 crore, as per provisional data available on the BSE.

Japan’s Nikkei rose 1.53 percent, Korea gained 1.19 percent, while Shanghai Composite up 0.10 percent. Taiwan too rose 0.80 percent. Financial markets in Hong Kong are closed today. The US Dow Jones Industrial Average ended 2.17 percent up on Tuesday on the back of strong earnings and solid economic data.

Continue Reading

Live TV – 24×7

Headlines

Popular Stories

Copyright © 2018 Theo Connect Pvt. Ltd.