Top 10 companies lose Rs 2.5 lakh crore in market cap last week
NEW DELHI: A weak broader market pulled down the combined market valuation of the top 10 most valued Indian companies by a whopping Rs 2,55,995 crore last week, with RIL taking the steepest hit. The equity market witnessed severe drubbing last week, with the BSE benchmark Sensex falling sharply by 1,850.15 points to end at […]
Indian Rupee recovers 6 paise against US dollar ahead of RBI policy outcome
NEW DELHI: The Indian rupee recovered 6 paise to 73.52 against the US dollar at the forex market on Friday ahead of the RBI’s monetary policy outcome amid fresh selling by exporters as the government stepped in to reduce oil prices. Dealers said besides fresh selling of the US dollar by exporters, the greenback’s weakness […]
Indian Rupee drops 44 paise to hit new low of 73.77 against Dollar
NEW DELHI: The Indian rupee collapsed to a fresh low of 73.77 against the United States of America (USA) dollar on Thursday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows. Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, kept the rupee […]
Sensex falls over 200 points, Nifty slips below 11,000
NEW DELHI: The BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a […]
Nifty ends below 11,000 mark, down 47.10 points
NEW DELHI: Benchmark Nifty declined for the third session to end 47.10 points lower at 10,930.45 on Friday, dragged by strong selling pressure in metal, realty, auto, infra, media, pharma and IT sectors. Investors adopted a cautious stance ahead of RBI’s policy meeting next week. Surging crude oil prices and negative sentiment in global equities […]
Jet Airways shares tank 5% as the firm delays part payment of August salaries
MUMBAI: Shares of Jet Airways tumbled nearly 5% on Thursday as the company delayed part payment of August salaries to pilots and senior management personnel. Also, the decision to impose 5% customs duty on ATF also hit sentiment. On Wednesday, the government raised import duties on ATF and 18 other items with an aim to […]
Reserve Bank of India unlikely to hike repo rate in October despite weak Indian Rupee
MUMBAI: Weakness in the Indian Rupee does not offer a sufficient alibi for a rate hike and the Reserve Bank of India (RBI) may go for a status quo at the policy review next month, a Japanese brokerage said on Friday. The markets have priced in tightening as well, but it is unlikely to materialise, […]
Sensex ends in red after 1,000 points flash crash
NEW DELHI: The BSE Sensex tumbled about 280 points to close below the 37,000-mark on Friday after investors were jolted by an over 1,000-point plunge in afternoon trade. The 30-share benchmark, which opened on a strong footing, suddenly tanked 1,127.58 points, or 3.03 per cent, to hit a low of 35,993.64 at 1309 hours, before […]
Sensex crashes 505 points on rupee woes, global worries
NEW DELHI: After rallying for two sessions, the BSE benchmark Sensex Monday tumbled over 505 points to slip below the 38,000-level as worries about global trade war and prevailing rupee crisis dampened investors mood despite the government announcing steps to stem a steep fall in the Indian currency. The broader Nifty too nosedived over 137 […]
‘Indian Rupee, oil, global cues to determine market trend’
NEW DELHI: Stock markets would continue to be guided by movement of the rupee, trade issues between the US and China and oil prices in a holiday-shortened week ahead, say experts. The equity market would remain closed Thursday for Muharram. With the rupee plumbing new lows against the dollar, the government Friday announced an array […]
Union Bank of India exits Antwerp diamond market
NEW DELHI: State-owned Union Bank of India has decided to quit Antwerp diamond hub in Belgium as the branch did not generate expected business, a senior bank official said. The finance ministry had advised all the public sector banks to review their overseas business and close branches which are not profitable as part of strategy […]
SEBI may consider proposal to allow foreign entities in commodity markets
NEW DELHI: With an aim to deepen the commodity derivatives market, regulator Sebi is likely to consider a proposal to allow trading in this segment by foreign entities with exposure to the Indian physical commodity market. Besides, the regulator may deliberate on the issue of introducing a common application form for foreign portfolio investors (FPIs) […]
Finance Ministry in touch with RBI for market intervention to contain rupee value
NEW DELHI: The finance ministry is in touch with the Reserve Bank for market intervention to check declining value of rupee, which has weakened to a low of 72.45 to a dollar, an official said Monday. The RBI has been selling dollars to arrest declining rupee, which led to decline in forex reserves from USD […]
Aadhar Housing Finance to raise up to Rs 1,400 crore via NCDs
NEW DELHI: Aadhar Housing Finance (AHFL) Monday said it is planning to raise up to Rs 1,400 crore through non-convertible debentures (NCDs), maturing in three, five and 10 years. The base size of the issue is Rs 500 crore, with an option to retain over subscription up to Rs 900 crore. The company is offering […]