Market News
Stay updated with the latest market trends, earnings, and economic indicators.
INR crashes to fresh record low as oil surges past $100 mark amid Middle East tensions
The Indian rupee crashed to its all-time closing low of 92.35 (provisional) against the US dollar on Monday, losing 53 paise during the session, as global crude oil prices saw a sharp spike, and the greenback strengthened amid worsening conflict in the Middle East. Withdrawal of foreign funds amid intense selling in domestic equity markets further pressured the rupee. Indian shares slumped on Monday as the Iran-Israel-U.S. war entered its 10th day and the Strait of Hormuz, a critical trade route, remained shut for the sixth consecutive day. The benchmark BSE Sensex ended down 1,352.74 points, or 1.71 percent, at 77,566.16 after hitting a low of 76,424.55 earlier. The broader NSE Nifty index hit an intraday low of 23,697.80 before recovering some lost ground to close down 422.40 points, or 1.73 percent, at 24,028.05. At the interbank foreign exchange, the rupee opened at 92.22 and rose briefly to 92.15 but kept losing ground through the session before eventually settling at its ...
Watch | M&M’s Japan agri exit seen as strategic portfolio rationalisation amid rising competition
Mahindra & Mahindra’s decision to exit its agri-machinery business in Japan reflects a broader strategy to streamline operations and focus on stronger, profitable markets, according to LKP Securities analyst Ashwin Patil. He said the Japan unit was likely a smaller, underperforming business facing intense competition, making continued investment less viable. The move aligns with M&M’s past efforts to exit non-core global operations and prioritise high-performing segments.