Monday, March 24, 2025

Creating liberating content

GUWAHATI: Five Supreme Court and high court judges on a

US Second Lady and JD Vance’s wife Usha Vance United

Filming an elevated overpass in Shanghai evening on a high-rise

T’PURAM: BJP brass has hand-picked businessman and former Union minister

Related News

GUWAHATI: Five Supreme Court and high court judges on a two-day visit to Manipur emphasised Sunday the need to find constitutional solutions through dialogue, reports Mukut Das.“Everything can be resolved

US Second Lady and JD Vance’s wife Usha Vance United States second lady Usha Vance is all set to visit Greenland this week, the most high-profile visit since the Trump

Filming an elevated overpass in Shanghai evening on a high-rise building Guowei Ying | Moment | Getty Images Asia-Pacific markets were set to open mixed Monday as U.S. President Donald

T’PURAM: BJP brass has hand-picked businessman and former Union minister Rajeev Chandrasekhar (60) as the party’s Kerala unit chief. His selection is believed to have been made by PM Narendra

Fiber-cement maker James Hardie Industries said on Monday it will acquire outdoor products manufacturer AZEK in a cash and stock transaction valued at $8.75 billion, in what could potentially be

U.S. flags hang on the building of the New York Stock Exchange (NYSE), after U.S. President-elect Donald Trump won the presidential election, in New York City, U.S., November 6, 2024.

Trending News

NEW DELHI: The Supreme Court has allowed audit regulator National Financial Reporting Authority (NFRA) to continue its proceedings against chartered accountants and firms where no audit quality review reports have

MUMBAI: Shopping on Amazon may cost less as the e-commerce giant is reducing a slew of seller fees, which is likely to translate into lower product pricing. Shoppers with smaller

NEW DELHI: India has seen strong goods and services trade momentum in the Dec quarter, a report by UN body Unctad has said but cautioned that global trade could be

NEW DELHI: Intelligence officers of GST have blocked 357 websites of illegal offshore online gaming entities and attached 2,400 bank accounts in the latest crackdown on the segment, the finance

NEW DELHI: A consignment of 30 tonne GI-tagged jaggery from Muzaffarnagar in Uttar Pradesh has been shipped to neighbouring Bangladesh, an official statement said Saturday. Muzaffarnagar is renowned for its

NEW DLEHI: US President Donal Trump’s The Trump Organisation’s has now entered the commercial real estate space in India, after multiple residential projects. “Excited to announce the newest addition to

Recovery signs: Rupee regains 85/$ level, sensex nears 77k

Word Count: 712 | Estimated Reading Time: 4 minutes


Recovery signs: Rupee regains 85/$ level, sensex nears 77k

MUMBAI: The rupee on Friday regained 85 level, posting its strongest gain against the dollar in over a month, supported by foreign fund inflows and the unwinding of speculative long-dollar positions. Meanwhile, the sensex and Nifty both continued their northward movements and closed higher, their fifth consecutive sessions of gains.
The rupee recorded its best weekly performance in more than two years, strengthening 1.2%. The rupee ended at 85.97 against the dollar, up 40 paise from 86.37 in the previous session, after touching a 10-week high of 85.94.

.

The rupee strengthened past 86 for the first time since Jan, driven by a surge in foreign investments in the domestic capital and debt markets, Dilip Parmar of HDFC Securities said. Stronger-than-expected trade data and rising forex reserves, aided by RBI’s dollar/rupee swap intervention, further bolstered the rupee. He said the local currency had emerged as the top performer among Asian currencies this month. In the near term, the rupee has support at 85.70 and resistance at 86.45. If the rupee fails to breach 85.90, it may face depreciation pressure, with immediate support in the 86.80-87.00 range.
The Fed’s decision to hold rates steady and signal lower interest rates pulled the dollar down, supporting the rupee, Jateen Trivedi of LKP Securities said.
Large foreign banks consistently offered dollars in the dollar/rupee pair. Equity inflows linked to the FTSE All-World Index rebalancing, effective from Friday, likely supported the rupee, with the rebalancing expected to bring inflows of around $1.5 billion.
Nifty rose 0.7% on Friday. Foreign portfolio investors, who had been selling Indian equities since late last year, turned buyers in two of the last four sessions, according to provisional data. The US economic data, including flash services and manufacturing figures due Monday, will influence market sentiment.
On Dalal Street, the sensex and Nifty both opened marginally lower on Friday, after four consecutive sessions of gains, but soon reversed early trends to gain through the session. At close sensex was up 557 points to 76,906 points while Nifty was up 160 points at 23,350 points. In the last five sessions, both the indices have gained over 4% each, marking their best weekly gains in over four years.
The day’s rally came on the back of strong buying by foreign funds who pumped in net Rs 7,470 crore into stocks. On the other hand, domestic funds were net sellers at Rs 3,202 crore, BSE data showed.





Source link

Most Popular Articles