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INR settles higher on positive cues from local equities; Weak greenback supports
The Indian rupee rose 14 paise to settle at 95.33 (provisional) against the US dollar on Friday as the greenback weakened but crude oil prices steadied amid intensifying tensions in West Asia. FII outflows and uncertainties over fresh tensions in West Asia weighed on the local unit while positive sentiment in the domestic equity markets provided support. Local shares ended Friday's session on a buoyant note, with firm cues from global markets and TCS' better-than-expected Q1 earnings helping underpin investor sentiment. Fears about a return to full-blow war however subsided after President Donald Trump claimed that Iran wants to "make a deal so badly," but he doesn't know if they're worthy of making a deal. The BSE Sensex climbed 827.57 points (1.08%) to close at 77,569.39, while the NSE Nifty 50 rose 244.10 points (1.02%) to settle at 24,206.90.
INR extend gains amid dollar weakness; Local benchmark indices surge in early trades
The Indian rupee extended gains in opening trades on Friday tracing weakness in dollar overseas on expectations that US and Iran will continue peace negotiations despite a recent escalation. However, oil prices stay supported after recent streak of gains that could limit gains in the counter. INR opened at Rs 95.27 per dollar and hit a high of 95.22 so far during the day. Yesterday, rupee appreciated by 7 paise to settle at 95.41 against the US dollar. Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, boosted by the surge in semiconductor and AI stocks. Indian benchmark indices surged early on Friday, with the BSE Sensex climbing 701.73 points (0.91%) to 77,443.55 and the NSE Nifty 50 gaining 200.85 points (0.84%) to trade at 24,162.25.
As West Asia boils again, RBI likely to assess FCNR flows
The Reserve Bank of India will review foreign currency deposit inflows next week. This meeting follows rising Middle East tensions and potential dollar loan rate hardening. Banks are facing challenges in finalizing fixed lending rates for non-resident Indians. Higher borrowing costs may necessitate increased leverage for attractive NRI deposit yields. The central bank's assessment will consider the current market situation and deposit mobilization.
TCS' next growth phase hinges on AI investments, not just deal momentum
Tata Consultancy Services reported flat dollar revenue and margin contraction in the June quarter. AI revenue shows growth but remains a small part of total earnings. The company paid significant dividends, impacting its ability to invest internally. Sustained order flow and stable attrition offer some long-term hope. TCS needs to balance investor returns with future technology investments.
INR settles higher, supported by good recovery in local equities
The Indian rupee appreciated by 7 paise to settle at 95.41 (provisional) against the US dollar on Thursday even as crude oil prices firmed up and the greenback strengthened in the global markets. A recovery in the stock markets and dollar selling by state-run lenders supported the local currency amid rising volatility triggered by the fresh escalation in the West Asia crisis. At the interbank foreign exchange market, the rupee opened lower by 4 paise at 95.52 against the US dollar and later traded in the range of 95.58 to 95.28 during the day. It settled at 95.41 (provisional), up 7 paise from the previous close. The rupee had declined by 52 paise to settle at 95.48 against the US dollar on Wednesday. Indian shares ended modestly higher on Thursday, after having fallen heavily in the previous session amid escalating hostilities in the Middle East. At the close of the market, the NSE Nifty 50 advanced 80.75 points (0.34%) to settle at 23,962.80, while the BSE Sensex gained 238.22 ...
Gold, silver prices decline in India: What's next for bullion
Gold, silver prices drop on MCX as strong US dollar, higher interest rate expectations, and West Asia tensions impact global bullion markets.
TCS Q1 Results Live Updates: Stock recovering from day's low ahead of earnings
TCS Q1 Results Live Updates: Tata Group giant and India's largest IT services company, Tata Consultancy Services Ltd. (TCS) is set to report its results after market hours on Thursday, July 9. As per a CNBC-TV18 poll, the company's US Dollar revenue is seen flat at $7,611 million, compared to $7,621 million in the March quarter. The stock has declined 35% so far this year and is now trading at 14 times its financial year 2028 estimated price-to-earnings, well below its historical averages. Watch this space for all the LIVE earnings updates from TCS.
INR tumbles further as renewal of war is seen driving oil prices and inflation higher
The Indian rupee slumped further in opening trades on Thursday as international crude oil prices rebounded as US President reportedly threatened to bomb Iran for a second day and reimpose the US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. US President Donald Trump said the ceasefire with Iran has ended, stoking concerns that a renewal of war could again drive inflation and push up interest rates. This could reinforce expectations that the US Federal Reserve (Fed) may keep interest rates higher for longer to combat stubborn inflation. INR opened at Rs 95.52 per dollar and hit a low of 95.58 so far during the day. Yesterday, rupee tanked 59 paise to settle at 95.55 against the US dollar. The Indian stock market also suffered a massive crash, with the NSE Nifty 50 plunging 516.65 points (2.12%) to close at 23,882.05, while the BSE Sensex tanked 1,677.12 points (2.15%) to settle at 76,503.60. Local markets are however recovering from the sharp ...
Gold falls as West Asia tensions lift dollar; silver holds steady
Gold prices dip as US-Iran tensions boost dollar, oil. Silver steady. Fed minutes, jobless claims awaited.
D-St set for a positive opening as GIFT Nifty signals firm start
Indian markets experienced widespread selling on Wednesday, with the Nifty declining significantly. Global risk sentiment deteriorated following US President Donald Trump's comments on Iran. Asian markets also traded lower, reflecting the weak global backdrop. The Indian Rupee tanked against the US dollar as oil prices rose. Foreign and domestic investors showed net buying activity in equities.
FCNR-B flows taper as higher costs trip math for double-digit returns
Indian banks are experiencing a slowdown in special foreign currency deposit collection. Rising overseas borrowing costs are impacting banks' leverage offerings to clients. High-net-worth individuals seek double-digit dollar returns, assessing tax implications. Banks are recalibrating deposit mobilization strategies after recent guideline releases. Investor expectations for higher spreads are increasing due to Indian supply.
FCNR-B flows taper as higher costs trip math for double-digit returns
Indian banks are experiencing a slowdown in special foreign currency deposit collection. Rising overseas borrowing costs are impacting banks' leverage offerings to clients. High-net-worth individuals seek double-digit dollar returns, assessing tax implications. Banks are recalibrating deposit mobilization strategies after recent guideline releases. Investor expectations for higher spreads are increasing due to Indian supply.