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Dollar index renews momentum; US PPI data awaited
The dollar index is edging closer to 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. May US inflation accelerated at its fastest pace in over three years due to surging energy costs, though the data matched expectations. Market focus now turns to the upcoming release of May's Producer Price Index (PPI) and Initial Jobless Claims. The yield on the US 10-year Treasury note steadied around 4.55% on Thursday awaiting fresh US economic data for further clues on the Federal Reserves policy outlook.
Why India is the centerpiece of LG's billion-dollar bet on the Global South
LG India growth strategy and consumer electronics market expansion: LG Electronics is targeting a significant revenue increase in India, Saudi Arabia, and Brazil by 2030. India is a crucial market, offering opportunities for both new buyers and upgrades. The company is adapting its products and manufacturing to meet local needs. This strategy aims for profitable and sophisticated growth in emerging economies.
INR extends downside as dollar firms and oil renews surge
The Indian rupee slipped back against the dollar in opening trades on Thursday as dollar index renewed gains and crude oil prices took flight. The dollar index traded around 100 on Thursday, lingering near its highest levels in two months amid fresh US attacks over Iran and as US consumer inflation accelerated in May to its fastest pace in more than three years due to soaring energy costs. INR opened at Rs 95.55 per dollar and slipped further to a low of 95.64 so far during the day. Yesterday, rupee was largely flat and settled almost unchanged at Rs 95.25 per dollar. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Local equities are likely to open on a cautious note on Thursday as concerns mounted about a re-escalation of the Middle East conflict and a stronger U.S. inflation print reinforced expectations that borrowing costs would remain higher for longer. On Wednesday, Indian shares gave up early gains to end little .
SpaceX IPO vs OpenAI IPO: Valuations, fundamentals to growth prospects - key things to know
OpenAI has filed for a confidential IPO, following Anthropic's lead, as both aim for trillion-dollar valuations amid rising investor interest in AI. The listings may reshape financial markets, but analysts warn of high valuations and risks associated with operational execution and competition.
Power finance cos turn to global markets for cheaper funds
Indian power and renewable energy firms are looking abroad for loans. The Reserve Bank of India's new dollar-rupee swap facility has made foreign currency borrowing cheaper. Companies like REC and PFC are planning to raise significant funds through external commercial borrowings. This move is expected to lower borrowing costs for these public sector undertakings.
INR pares initial losses and settles largely unchanged
The Indian rupee was largely flat and settled almost unchanged at Rs 95.43 per dollar, down just 2 paise on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. Rupee pared its initial losses as crude oil prices and the US dollar index retreated from their elevated levels. Indian shares gave up early gains to end little changed on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation data later in the day for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks. The BSE Sensex ended the day at 73,983.18, up by 64.42 points (0.09%), while the NSE Nifty 50 settled at 23,214.95, slipping by 27.15 points (-0.12%).
Short-term bond yields hit three-month low on RBI dollar measures
On Friday, the Reserve Bank of India unveiled steps to attract dollar inflows, including fully subsidising hedging costs on foreign currency deposits raised from non-resident Indians
Banks pay 7% on dollar deposits as India seeks fresh foreign currency
Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and support the rupee. This strategy aims to strengthen the currency amidst high oil prices and intense domestic deposit competition.
Gold crashes to 11-week low, but experts still see upside: Is this a buying opportunity or a warning sign?
Gold prices have dropped to an 11-week low, pressured by reassessed US interest rates and a stronger dollar. Despite the decline, analysts maintain a positive long-term outlook due to central-bank demand and potential easing of inflation, suggesting the recent dip could be a buying opportunity.
INR loses ground as oil spikes amid fresh escalations in the West Asia war
The Indian rupee depreciated 15 paise to 95.56 against the US dollar in early trade on Wednesday as fresh escalations in the West Asia war lead to a spike in crude oil prices and pressurised the rupee. USD/INR pair opened on a negative note after US President Donald Trump said Iran was responsible for downing an American military helicopter near the Strait of Hormuz and that the US "must" respond to the attack. At the interbank foreign exchange market the rupee opened at 95.52, then lost ground and touched 95.56 in initial trade, registering a fall of 15 paise from its previous close. Yesterday, rupee recovered momentum to settle higher by around 28 paise at Rs 95.31 per dollar, supported by retreating international oil prices and small pullback in dollar overseas. Meanwhile, local equities also rebounded from two-month lows as a halt in hostilities between Israel and Iran boosted hopes that peace negotiations could move forward. Meanwhile, domestic indices opened on a positive note,
Saurabh Mukherjea’s global strategy: How Marcellus is hunting compounder stocks across 4 multi-trillion dollar megatrends
Saurabh Mukherjea of Marcellus is avoiding AI giants like Nvidia, instead focusing on companies enabling AI's physical infrastructure. His strategy targets turbine manufacturers, chip equipment makers, and industrial distributors, alongside defence and aerospace firms like Airbus, and ultra-luxury brands, driven by distinct megatrends.
Sensex jumps over 300 pts, Nifty above 23,300; Reliance Industries, HUL shares gain 1%
Indian stock markets saw gains on Wednesday. The Sensex and Nifty traded higher, led by major companies. Broader markets also showed marginal increases. Sectoral performance was mixed. Geopolitical tensions in the Middle East and rising oil prices are being monitored. The rupee opened lower against the US dollar. Analysts expect market stabilization amid ongoing developments.