The rupee today lost 21 paise to 54.98 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency against euro overseas.
Gold futures prices today fell by 0.31% to
Rs. 26,050 per 10 grams as participants indulged in reducing exposures, largely in tandem with a global trend where the metal dipped to one-month low.
Shares in JM Financial Ltd rose as much as 10% at the pre-open today after the company said on Thursday former Citigroup chief executive Vikram Pandit is buying a stake in the Indian financial services company.
Extending gains for the fourth day in a row, the BSE benchmark Sensex on Friday rose by 39 points, mainly on buying in power, capital goods and realty sector stocks amid increased foreign inflows.
Many Indians have rushed to buy gold following the fall in prices. But they may have to wait a long time for anticipated returns to materialise. Analysts said the yellow metal is unlikely to rise any more.
Sachin Kumar reports.
Gold prices fell to a one-month low today, confirming a downward journey of the yellow metal being weighed as an inflation hedge. The metal lost
Rs. 500 to
Rs. 26,800 per 10 grams as stockists sold their inventories amid weak global trends.
The rupee today rose by 10 paise to 54.68 against the dollar in early trade at the Interbank Foreign Exchange today on increased selling of the US currency by exporters and banks.
Rising for the third straight session, the BSE benchmark Sensex today rose by over 34 points to 20,247.33 to hit a fresh 28-month high on buying mainly in realty, oil & gas, healthcare and banking stocks, amid strong foreign capital inflows.
Gold today witnessed its second biggest loss this year of
Rs. 600 to
Rs. 27,300 per 10 grams due to reduced offtake amid weak global trend.
Market regulator Sebi has found that Ford Brothers had executed manipulative trades in shares of Nandan Exim on behalf of one of its clients, thereby violating norms related to fraudulent trade practices.
The rupee today rose by five paise to 54.76 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency by exporters. The rupee had lost eight paise to close at an over 1-month low of 54.81 against the dollar yesterday.
Leading stock indices jumped 2.5% on Wednesday to take shares to 28-month highs after RBI governor D Subbarao gave a clear indication that interest rates might dip further, strengthening a spirit already buoyed by a global rally in stocks.
The rupee today erased initial gains to close 8 paise down at over one-month low of 54.81 on fresh dollar demand from importers, ignoring the recovery in equities after WPI inflation decelerated below 5%.
The BSE benchmark Sensex today closed 31 points up on funds buying mainly in banking and healthcare stocks as inflation eased to over three years low.
India’s gold and silver imports shot up 138% year-on-year in April as customers took advantage of lower prices, increasing pressure on the current account balance and limiting the space for monetary easing even though inflation slowed in the month.