New Delhi, May 24 (IANS) The recent weakness in the Indian rupee may be driven less by rising oil prices or concerns around the current account deficit and more by relentless domestic equity inflows through systematic investment plans (SIPs), according to a report by Jefferies.In a note titled “INR Pressure – The Downside of SIPs,” the brokerage said sustained foreign selling in Indian equities, coupled with strong domestic liquidity, has become a major factor weighing on the rupee.Jefferi…
Latest Indian Rupee News & Updates
Jaipur, May 23 (IANS) Saturday morning brought fresh concerns for consumers in Rajasthan as oil companies once again increased petrol and diesel prices for the third time in the last few days amid continued volatility in international crude oil markets. According to officials, petrol prices in Jaipur have climbed to Rs 109.87 per litre, while diesel prices have reached Rs 95.09 per litre following the latest hike.Over the past nine days, petrol prices have risen by Rs 5.12 per litre and diesel b…
Mumbai, May 23 (IANS) Foreign institutional investors (FIIs) remained net sellers this week, offloading Rs 7,570 crore based on provisional exchange data as domestic institutional investors (DIIs) were net buyers, purchasing Rs 16,950 crore, providing enough cushion.In the month of May, FIIs have sold a cumulative Rs 32,230 crore, while DIIs have bought Rs 56,870 crore, based on provisional exchange data.FIIs were net buyer on Monday’s session with inflow of Rs 2,810 crore.“However, they tur…
New Delhi, May 22 (IANS) The Indian rupee extended its recovery for a second consecutive trading session on Friday, appreciating 63 paise to close provisionally at 95.73 against the US dollar.The domestic currency drew support from easing crude oil prices, positive sentiment in local equity markets and expectations of intervention by the Reserve Bank of India (RBI) to curb excessive volatility.The rupee opened at 96.30 per dollar in the interbank foreign exchange market and witnessed sharp gains…
Mumbai, May 22 (IANS) The domestic benchmark indices ended higher on Friday, supported by a sharp appreciation in the Indian rupee against the US dollar and gains in banking and financial services stocks.The Nifty rose 64.60 points, or 0.27 per cent, to close at 23,719.30, while the Sensex gained 231.99 points, or 0.31 per cent, to settle at 75,415.35.Commenting on Nifty technical outlook, experts said that on the downside, immediate support is placed at 23,600, below which the index may drift t…
New Delhi, May 21 (IANS) The government is actively working to address the sharp depreciation of the Indian rupee against the US dollar, with multiple measures currently under consideration to stabilise the domestic currency, Union Commerce and Industry Minister Piyush Goyal on Thursday said on Thursday.Speaking to reporters on the sidelines of an event here, Goyal said all arms of the government are functioning in coordination to deal with the evolving economic situation.“We are monitoring th…
Mumbai, May 19 (IANS) Indian benchmark equity indices erased their intra-day gains and closed lower on Tuesday as weakness in banking, financial and metal stocks weighed on investor sentiment.The Sensex declined 114.19 points, or 0.15 per cent, to close at 75,200.85. The Nifty settled 31.95 points, or 0.14 per cent, lower at 23,618.Commenting on Nifty technical outlook, experts said that a sustained move above the 23,700–23,800 region will be essential to strengthen recovery momentum toward th…
Mumbai, May 17 (IANS) Indian benchmark indices Sensex and Nifty snapped their two-session winning streak on Friday amid profit booking triggered by weak global cues, rising crude oil prices, and continued pressure on the Indian rupee. Investors are now expected to closely track geopolitical developments in the Middle East, oil price movement, ongoing corporate earnings, and currency fluctuations in the coming week.The 30-share Sensex declined 161 points, or 0.21 per cent, to settle at 75,237.99,…
New Delhi, May 15 (IANS) The Indian rupee breached the 96-mark against the US dollar on Friday amid persistent global pressures, rising crude oil prices, and continued geopolitical tensions linked to the Iran conflict.Earlier in the day, the domestic currency opened at 95.86 in the interbank foreign exchange market and slipped to 95.94 during early trade, after touching an all-time low of 95.96 in the previous session.Pressure on the rupee also intensified after oil marketing companies (OMCs) in…
Mumbai, May 11 (IANS) Indian benchmark equity indices ended sharply lower on Monday as investor sentiment weakened amid rising concerns over the impact of the ongoing West Asia conflict on global growth and inflation.At the closing bell, the Nifty was down by 360.3 or 1.49 per cent at 23,815.85, and the Sensex ended 1312.91 points or 1.70 per cent lower at 76,015.28.Commenting on the Nifty technical outlook, experts said that overall, the index appears vulnerable in the short term.“Immediate s…