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Rupee opens weaker at 94.95 per dollar; oil moves, capital outflows weigh
Indian rupee opens at 94.95 against US dollar, slips on elevated crude prices and foreign fund outflows, outlook stays pressured amid volatile oil markets.
Rupee opens 4 paise lower at 94.95 against US dollar
The Indian rupee opened weaker at 94.95 against the US dollar, influenced by fluctuating oil prices and ongoing U.S.–Iran negotiations. Brent crude prices fell amid U.S. intervention efforts for stranded ships, while the rupee has dropped nearly 2% over the past eight days.
Resurgent in April, can bulls defy 'Sell in May' maxim?
Indian stock markets may see continued gains in May. Investors should resist the urge to sell. While a repeat of April's strong rally is unlikely, key indices have historically performed well in May. Moderate, stock-specific moves are expected. Elevated oil prices and a strong dollar could limit significant upside.
Top Gainers and Losers on April 30: Vedanta, Waaree Energies, Eternal, Adani Energy, Ceat, among top losers
The Indian stock market declined in April's final session due to rising crude oil prices and a weak rupee, with the Nifty 50 down 0.73% and the Sensex 0.78%. Both indices recorded over 7% gains for the month, while the rupee hit a record low against the dollar.
Rupee falls to all-time low of 95.23 against dollar amid oil pressure
Indian rupee hits record low beyond 95 per dollar as strong US dollar, rising crude oil, foreign outflows and geopolitical risks intensify pressure.
INR falls near record low levels hurt by elevated oil prices
The Indian rupee depreciated 14 paise to close near its all-time low at 94.82 (provisional) against the US dollar on Wednesday, pressured by rising crude oil prices, hovering well above $100 per barrel, and continued foreign capital outflows. Brent crude prices climbed toward $115 a barrel today, hitting a four-year high on mounting uncertainty around global supply amid the prolonged closure of the Strait of Hormuz. Elevated crude oil price is likely to sharply impact India's import costs, while the ongoing West Asia crisis and concerns over potential wider conflict are fuelling investor anxiety. Meanwhile, Indian shares rose notably on Wednesday despite mixed cues from global markets and growing anxiety over surging energy prices, capping downside in the counter. Sensex settled 609.45 points (0.79%) higher at 77,496.36 while Nifty 50 advanced 181.95 points (0.76%) to close at 24,177.65. Investors are also awaiting cues from the upcoming US Federal Reserve policy decision as dollar ..
Rupee falls 18 paise lower against dollar as oil strength, weaker Asian peers weigh
Indian rupee slips to 94.37 against US dollar as elevated crude oil prices, strong dollar demand and weaker Asian currencies keep the local unit under pressure.
From Gift Nifty, crude oil prices, gold rates to dollar: 8 key things that changed for Indian stock market overnight - Mint
From Gift Nifty, crude oil prices, gold rates to dollar: 8 key things that changed for Indian stock market overnightMint
INR weakens near Rs 94 per dollar mark amid resurgence in oil prices
The Indian rupee weakened for the third straight session, losing 39 paise to settle at 93.83 (provisional) against the US dollar on Wednesday as oil prices resumed surge amid uncertainty on US-Iran peace talks eroded hopes of easing West Asia conflict. Intense selling in domestic equity markets and sustained outflow of foreign capital also weighed on the Indian currency. Indian shares fell sharply on Wednesday, with stalled U.S.-Iran peace talks, somewhat hawkish comments from Federal Reserve nominee Kevin Warsh at a Senate confirmation hearing, and a disappointing set of numbers for the fourth quarter from IT major HCL Technologies weighing on sentiment. The Sensex settled 757 points or 0.95% lower at 78,516, while the Nifty 50 ended 198 points or 0.8% lower at 24,378. At the interbank foreign exchange market, the rupee opened at 93.69 and touched an intraday low of 93.87 against the greenback during the session, nearing the 94 level and its lowest level in three weeks.
INR recovers on falling oil prices amid hopes of truce in West Asia
The Indian rupee strengthened by 20 paise to settle at 93.10 (provisional) against the US dollar on Thursday, following a decline in global crude oil prices amid hopes of a truce in West Asia. Dollar pull back to seven week low also supported gains in the counter. However, sustained outflow of foreign capital amid increased dollar demand from importers capped the gain in the local currency. Indian stocks turned weak on Thursday as investors chose to take some profits, cashing in recent gains. Stocks climbed higher early on in the session amid hopes U.S. and Iran will agree on a peace deal later this week. At the interbank foreign exchange market, the rupee opened at 93.29 and touched an intraday high of 93.16 against the greenback. It also fell to the day's low of 93.35.
INR settles lower as oil jumps amid uncertainty surrounding war developments
The Indian rupee depreciated 5 paise to close at 92.59 (provisional) against the US dollar on Thursday, as the situation in West Asia remains fragile, keeping investors wary of the opening of the Strait of Hormuz. Indian shares tumbled on Thursday as confusion prevailed over the U.S.-Iran truce terms. The U.S. dollar index consolidated above the 99.00 level and oil prices were up more than 3 percent as Iran halted the passage of oil tankers through the Strait of Hormuz after accusing the United States of violating three clauses of the 10-Point Proposal. The BSE Sensex plummeted 931.25 points or 1.20% to settle at 76,631.65, while the NSE Nifty 50 fell 222.25 points or 0.93% to close at 23,775.10. At the interbank foreign exchange market, the rupee opened at 92.63 against the US dollar, then lost ground to touch an intraday low of 92.92 against the greenback. It also hit the day's high of 92.53 during the session.
Oil retailers losing Rs 21 per litre on petrol and Rs 28 on diesel: Jefferies
Indian state-run oil companies are facing significant losses on fuel sales, with petrol and diesel losses reaching Rs 21 and Rs 28 per litre respectively, despite a recent excise duty cut. Surging global refining margins, driven by Middle East supply disruptions and Russian infrastructure damage, have exacerbated the situation, leading to frozen retail fuel prices.