Market News

INR settles around record low level as energy crisis deepen

The Indian rupee weakened further and fell to a record low of 95.73 (provisional) against the US dollar on Thursday, amid a strong dollar and worries over inflation amid elevated energy prices. International oil prices continued to hold around $100 per barrel mark that kept rupee under pressure. The rupee is expected to trade with a negative bias amid inflation concerns and the strength of the US dollar in the overseas market. The West Asia crisis and the blockade of the Strait of Hormuz have disrupted crude petroleum imports into India. Investors also awaited the outcome of U.S. President Donald Trump's summit with Chinese President Xi Jinping in Beijing. However, positive local equities limited losses in the domestic unit to some extent. Indian equity markets settled sharply higher for the second consecutive session, with the Sensex rising 789.74 points (1.06%) to 75,398.72 and the Nifty gaining 277 points (1.18%) to 23,689.60.

India rupee slips to record low near 96 per USD as energy risks deepen

The Indian rupee hit an all-time low, driven by high oil prices and portfolio outflows straining the economy. Policymakers are considering tax reductions for foreign investors on bonds to attract dollar inflows. Persistent balance of payments deficits and rising wholesale inflation signal ongoing rupee weakness.

DXY hovers around 98.50 mark; Trump-Xi meeting outcome awaited

The dollar index continues to hover around 98.50 mark on Thursday after US data reinforced inflationary pressures and higher interest rate scenario for longer. Accelerating inflationary pressures in the United States economy amid higher energy prices have for now ruled out possibility of any rate cut. Data released by the US Bureau of Labor Statistics on Wednesday showed that the US Producer Price Index (PPI) jumped by 6.0% on year in April, following the 4.3% seen in March. US wholesale inflation accelerated at its fastest annual pace in four years. Meanwhile, investors stay watchfully cautious ahead of the US President Donald Trump-Chinese President Xi Jinping summit in Beijing. Investors will also focus on the US retail sales data for April due later today.

Benchmarks snap 4-day losing streak; Nifty settles above 23,400

Domestic equity benchmarks Sensex and Nifty snapped a four-session losing streak to close higher on Wednesday, aided by value buying in beaten-down stocks. Market recovered from early volatility and profit booking to rebound sharply from intraday lows, with the Nifty settling above the 23,400 mark. Gains were led by metal, consumer durable and energy shares, while IT and auto stocks remained under pressure. However, overall sentiment stayed cautious amid elevated crude oil prices, persistent foreign institutional investor outflows, rupee weakness and lingering global inflation concerns. The Indian rupee also touched a fresh intraday record low of 95.80 against the US dollar.

Rupee slips to its lowest-ever intraday level of 95.80 against the US dollar

The Indian rupee hit a record low of 95.71 against the US dollar due to high energy prices and overseas debt repayments. Despite tariff hikes on precious metals, economists warn of sustained pressure on the currency amid rising inflation and geopolitical tensions.

Can Reliance Jio's fresh-issue play restore faith in India's billion-dollar IPOs?

Reliance Jio may change its IPO plan. Instead of existing investors selling shares, it could be a fresh issue. This means money goes directly into Jio Platforms for debt reduction and expansion. This move could restore investor faith in large Indian IPOs. It might set a new standard for future mega listings. The market will watch this development closely.

Reliance Industries shares in focus as Mukesh Ambani eyes satellite foray to take on Starlink

Reliance Industries is evaluating a multi-billion-dollar entry into satellite communications, focusing on low Earth orbit networks under Jio Platforms. The initiative aims to strengthen India’s strategic capabilities amid rising global competition, with discussions underway on technology partnerships, orbital slots and potential acquisitions as the company explores long-term opportunities in future.

Reliance eyes billions in LEO satellites to build India's answer to Starlink

Reliance Industries is set to make a significant entry into satellite communications. The company plans a multi-billion dollar investment in the low earth orbit segment. This move positions Reliance against global players like Starlink and Amazon Leo. Six teams are working on various project aspects. The initiative aligns with India's goal for a domestic satcom presence.

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.

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 ..

'100 bn dollar investment': Sagar Adani stresses energy resilience strategy amid West Asia crisis

Copper, zinc, aluminium trade mix amid US-Iran war uncertainty; what's the outlook ahead for base metals?

Base metals traded mixed on April 23,amid geopolitical tensions and changing global signals. Copper fell while aluminium declined due to rising energy costs. Analysts noted supply disruptions and structural deficits are driving the market, despite concerns over demand and a stronger dollar.