Rupee opens flat at 71.06 against US dollar
.jpg)
The rupee opened 1 paisa lower at 71.06 against US dollar on Wednesday. In the previous session, the domestic unit declined 13 paise to close at one-month low of 71.05 amid strengthening greenback and surging crude oil prices.
It was the third straight session of loss for the rupee. The domestic currency on Monday plunged by 43 paise to close at nearly one-month low of 70.92 against the US dollar. The Indian unit has lost 64 paise in these three sessions, PTI reported.
Rupee was weighed down against the US dollar for the second successive session as uncertainty continued related to Brexit continued to keep most market participants on the edge. On the domestic front, data showed India’s trade deficit in December narrowed $13.08billion compare to $16.67billion in the previous month, said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services.
In December, merchandise exports rose just 0.34 per cent from a year earlier to $27.93 billion, while imports fell 2.44 per cent to $41.01 billion. Gold imports declined 24 per cent to $2.56 billion in December last year against $3.39 billion in the same month of 2017. Today, USD/INR pair is expected to quote in the range of 70.70 and 71.40, the analyst added.
On Tuesday, foreign investors (FIIs) emerged as the net buyers to the tune of Rs 159.6 crore in the doimestic capital market segment while domestic investors (DIIs) infused a total of Rs 417.44 crore.
On Tuesday, foreign investors (FIIs) emerged as the net buyers to the tune of Rs 159.6 crore in the doimestic capital market segment while domestic investors (DIIs) infused a total of Rs 417.44 crore.
Other Latest News
.webp)
Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
.webp)
Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
.webp)
Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
.webp)
Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
This deal is part of the airline’s "#VoteAsYouAre" campaign, “designed to mobilise first-time voters to fly home to exercise their constitutional right and help guide the flight path of the nation", ET reported.
.webp)
National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
.webp)
.webp)
.webp)
.webp)
.webp)
