The Indian rupee slid to its weakest level in more than two months on Thursday, hurt by dollar demand from importers, putting traders on the lookout for possible intervention by the central bank to shore up the local currency.
The benchmark BSE Sensex on Thursday plunged to a two-week low of 17,196.47, down 405 points or 2.3%, as foreign investors sold stocks in the backdrop of a weaker rupee.
Oil prices rose to near $107 a barrel Wednesday in Asia after a report showed US crude supplies fell unexpectedly, a sign demand may be improving.
The BSE benchmark index Sensex today gained nearly 46 points in early trade on selective buying by funds.
The rupee touched a two-week low today weighed by heavy demand for dollars from oil importers, while negative shares raised foreign fund outflow concerns.
Baring Private Equity, one of the biggest PE players in emerging markets, is expected to complete its investment cycle by deploying $770 million (Rs 3,880 crore) in India by mid 2013, a company official said.
Gold prices fell by Rs. 67 to Rs. 27,834 per 10 grams in futures trade on Tuesday after speculators off-loaded their positions, tracking a weak trend in global markets.
State-run National Buildings Construction Corporation (NBCC) has fixed a price band of 90-106 rupees for its intial share sale that aims to raise up to 1.27 billion rupees ($25.3 million), it said in a newspaper advertisement today.
The rupee eased by 3 paise to Rs. 50.26 against the dollar in early trade today on the Interbank Foreign Exchange market, following increased demand for the American currency from importers.
The BSE benchmark Sensex today recovered nearly 43 points, snapping 3-session losing streak, as investors picked up bluechips available at lower levels after recent declines.
The government's move to provide partial relief in excise duty on branded garments’ in the budget might help improve profitability, but there will not be any immediate price cuts, retailers and manufacturers said on Monday.
The BSE benchmark Sensex today fell 193 points to 17,273.37, on sustained selling by funds against the backdrop of uninspiring budgetary proposals last weekend and a weak global markets.
Describing rising price of oil a threat to global growth, IMF chief Christine Lagarde on Sunday called upon emerging economies to "invest in reforms" to attain higher growth.
The BSE benchmark Sensex ended in negative terrain for the fourth straight week as investors remained unimpressed by the Union Budget proposals which they thought may add to inflation.
A lack of incentives for attracting private sector capital investment and a fiscal deficit closer to 6% saw the benchmark 30-share Bombay Stock Exchange (BSE) Sensex erase early gains and end down 209 points, or 1.2%, at 17,466 points. Markets