Market News
Stay updated with the latest market trends, earnings, and economic indicators.
SBI, Axis Bank among lenders set for $2 billion ECB fundraising via RBI swap
Major Indian banks, including SBI, Axis Bank, and Bank of Baroda, alongside Power Finance Corporation, are set to raise over $2 billion from overseas markets next week. This move capitalizes on the Reserve Bank of India's 1.5% fixed-rate swap incentive for external commercial borrowings, aimed at bolstering the rupee. HDFC Bank's recent successful dollar bond sale has spurred this wave of fundraising.
SBI, Axis Bank among lenders set for $2 billion ECB fundraising via RBI swap
Major Indian banks, including SBI, Axis Bank, and Bank of Baroda, alongside Power Finance Corporation, are set to raise over $2 billion from overseas markets next week. This move capitalizes on the Reserve Bank of India's 1.5% fixed-rate swap incentive for external commercial borrowings, aimed at bolstering the rupee. HDFC Bank's recent successful dollar bond sale has spurred this wave of fundraising.
SBI’s board clears record Rs 60,000 cr fundraise in FY27
State Bank of India's central board has approved raising up to Rs 60,000 crore this fiscal through rupee and dollar bonds. This move aims to bolster the bank's capital position and support business growth. Funds will be raised via various debt instruments from Indian and overseas investors.
Arvind SmartSpaces shares jump up to 10% after new Ahmedabad residential project
Arvind SmartSpaces' chairman and non-executive director Kulin Lalbhai told CNBC-TV18 last month that the firm is targeting a cumulative growth rate of 30% over a four-to-five-year period in the long term.
Wall Street week ahead: Spotlight on Federal Reserve rate decision, retail sales, Middle East, G7 summit
Market participants will be looking for signals on how the new Fed chief Kevin Warsh intends to tackle lingering inflation concerns while balancing economic growth
Firmer dollar, rate hikes, ETF outflows may weigh on gold prices: Analyst
A firmer dollar, rate hikes by central banks, ETF outflows, and elevated yields are likely to keep the yellow metal under pressure. China's demand is not too strong either
INR recovers momentum as local equities rebound; recent oil and dollar spike fades amid signs of easing geopolitical tensions
The Indian rupee recovered momentum to settle higher by around 28 paise at Rs 95.31 per dollar on Tuesday, 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. Geopolitical tensions eased somewhat, the dollar weakened and Brent crude futures fell below $93 a barrel as Israel and Iran agreed to halt attacks against each other following a series of mutual attacks from Sunday night, which marked the most serious escalation since the ceasefire in April. The BSE Sensex settled 394.50 points (0.54%) higher at 73,918.76, while the NSE Nifty 50 advanced 119.10 points (0.52%) to close at 23,242.10.
INR stays pressured amid elevated oil prices and firm dollar overseas
The Indian rupee is staying largely unchanged in opening trades on Tuesday amid elevated oil prices and relatively firm dollar overseas. INR opened at Rs 95.47 per dollar and hit a low of 95.62 so far during the day. Yesterday, rupee lost further momentum and settled the day lower by around 40 paise at Rs 95.61 per dollar. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at .
INR dragged lower by negative cues from equities, surging oil and firm dollar overseas
The Indian rupee lost further momentum during the course of the day and is seen settling the day lower by around 40 paise at Rs 95.57 per dollar. Elevated crude oil prices and firm dollar index around 100 mark are seen pressurizing rupee. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at 23,123.00. Also, rupee weakened despite the Indian government introducing a ...
Dollar index holds above 100 mark
The US dollar index surged above 100 mark on Friday to a two month high following strong US jobs report that increased possibility of a Federal Reserve interest rate hike soon. Jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% fueling concerns that elevated borrowing costs could weigh on economic growth and investment. Meanwhile, lack of any concrete settlement on US and Iran war front that is keeping oil prices elevated is also adding to inflationary pressures and flocking inventors to dollar for respite. US stocks also slumped on Friday after a strong jobs report consolidated the outlook of restrictive interest rates, while chip producers extended their selloff. The dollar index that measures the greenback against a basket of currencies ended the week at 100.03, up 0.67% on the day.
Dollar index witnesses massive surge to 2-month high beyond 100 mark
The US dollar index surged above 100 mark on Friday to a two month high following strong US jobs report that increased possibility of a Federal Reserve interest rate hike soon. Jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% fueling concerns that elevated borrowing costs could weigh on economic growth and investment. Meanwhile, lack of any concrete settlement on US and Iran war front that is keeping oil prices elevated is also adding to inflationary pressures and flocking inventors to dollar for respite. US stocks also slumped on Friday after a strong jobs report consolidated the outlook of restrictive interest rates, while chip producers extended their selloff. The dollar index that measures the greenback against a basket of currencies ended the week at 100.03, up 0.67% on the day.
Gold slumps most in two months as jobs fuel Fed rate-hike bets
Bullion declined as much as 3.4% as bond yields and the dollar climbed after the latest US data showed job growth topped all forecasts in May. The strength in the labour market keeps the door open for Fed officials to hike rates as Middle East tensions fuel higher energy prices.