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INR seen supported by improving global risk sentiments
The Indian rupee appreciated 48 paise to close at 94.95 (provisional) against the US dollar on Tuesday, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties. Market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by USD 11 per barrel. Moreover, softness in Brent oil prices is alaos expected to ease inflationary pressures for India, the world's third-largest oil importer. However, Indian shares ended slightly lower on Tuesday, with benchmark indexes Sensex and Nifty snapping a four-day winning streak. The Indian benchmark equity indices snapped their four-day winning streak, ending marginally lower due to late-session profit booking and weak Asian cues. The NSE Nifty 50 declined by 31.65 points (0.13%) to close at 24,398.70, while the BSE Sensex dropped 104.35 points (0.13%) to settle at 78,180.72.
Rupee Surges 48 Paise Against US Dollar To Close At 94.95 On Easing Oil Supply Concerns
On Monday, the rupee had depreciated 25 paise to close at 95.43 against the US dollar.
INR appreciates on improved market sentiment
The Indian rupee appreciated 15 paise to 95.28 against the US dollar in early trade on Tuesday on improved market sentiment after reports that Saudi Arabia has slashed August crude oil prices for Asia amid easing of geopolitical tensions in the Middle East. Lower Middle East risk premium and higher traffic from the Strait of Hormuz kept the oil prices lower. At the interbank foreign exchange market the rupee opened at 95.33 and later touched 95.28 against the American currency, registering a gain of 15 paise from its previous close. Yesterday, rupee depreciated 20 paise to close at 95.43 against the US dollar, as a strengthening greenback weighed on emerging market currencies. Meanwhile, local markets are extending gains amid strong quarterly updates from banking heavyweights like HDFC Bank, favorable monsoon progress, and steady foreign institutional buying. The BSE Sensex was trading at 78,374.76, up by 89.69 points (0.11%), while the NSE Nifty 50 was up 38.90 points (0.16%) at ..
Auto retail sales surge 22% to record 2.56 million in June; Dealers expectgrowth momentumto continue withrains picking up
Vehicle retail sales reached a record high in June, showing a significant year-on-year increase. This robust growth was supported by strong demand across various vehicle segments. Improved supplies and easing crude oil prices are expected to sustain this positive momentum. Two-wheeler sales saw a notable rise, with electric models gaining significant market share. Rural markets demonstrated strong traction in commercial vehicle sales, indicating broad economic recovery.
Rupee hits three-week low as OMC dollar demand, NDF maturities weigh
The rupee slipped to a three-week low as dollar buying by oil firms and NDF demand offset support from lower crude oil prices
INR slips in opening trades as dollar recovers marginally; downside seen limited
The Indian rupee fell 10 paise to 95.28 against the American currency in early trade on Monday, weighed down by slight uptick of the American currency in the overseas market. However, positive cues from local equities and easing international oil prices are likely to limit downside in the counter. Indian shares are seen opening in green, with underlying sentiment likely to remain underpinned by improving earnings visibility and expectations of a more supportive global liquidity environment going forward. The BSE Sensex gained 176.99 points (0.23%) to open at 77,940.90, while the NSE Nifty 50 rose 36.00 points (0.15%) to open at 24,306.85.
OMCs lost Rs 18.9/litre on diesel, ₹6 on petrol in Q1
State-run oil companies faced significant losses in the April-June quarter, losing ₹18.9 per litre on diesel and ₹6 on petrol. This downturn occurred as domestic fuel prices failed to keep pace with rising international rates. Previously, these companies enjoyed healthy profits, but fluctuating global prices and limited domestic revisions have led to volatile retail margins, impacting profitability.
INR settles higher as the dollar index retreats from its recent 15-month high
The Indian rupee appreciated 14 paise to close at 95.21 (provisional) against the US dollar on Friday as the dollar index retreated from its recent 15-month high levels and mirrored positive domestic equities. Indian shares rose for a third straight session on Friday, even as markets ended off their day's highs due to profit booking at higher levels. Underlying sentiment was underpinned by the recent fall in crude prices to near pre-conflict levels and reduced expectations that the U.S. Federal Reserve will raise interest rates in the coming months. Overnight data showed U.S. jobs growth slowed sharply in June, and the two prior months' data were revised lower, raising expectations that the Fed will hold rates this month and potentially in September. However, despite a weaker dollar index and lower crude oil prices, the rupee is facing pressure from robust dollar demand from importers and corporate hedgers. At the interbank foreign exchange market, the rupee opened at 95.20 against ..
State oil companies lose ₹75,000 cr in Q1 on low prices: Oil minister Hardeep Singh Puri
State-run oil companies reported a significant loss of ₹74,781 crore in the April-June quarter due to selling fuel below market rates. Despite a global crude price drop, domestic pump prices remain unchanged as refiners process higher-priced crude. A reduction in retail fuel prices may be considered if current crude prices persist, while bulk diesel prices have narrowed the gap with retail rates.
INR settles on a positive note; Easing oil prices, positive local equities support
The Indian rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. Rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows. The Indian equity benchmarks closed sharply higher, with the BSE Sensex surging 579.48 points (0.75%) to settle at 77,502.12 and the NSE Nifty 50 advancing 169.85 points (0.71%) to end at 24,175.70.
INR seen supported by easing crude oil prices
The Indian rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. The rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Brent crude slipped below $71 a barrel after signs of progress in indirect US-Iran talks eased concerns over India's inflation and import bill. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Meanwhile, foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows. Yesterday, rupee depreciated 67 paise to close near a three-week low of 95.23 against the US dollar. The BSE Sensex is trading up roughly 400 points at 77,321.07, while the NSE Nifty 50 has crossed the key psychological hurdle to trade at 24,129.75.
INR slumps back beyond Rs 95 per dollar mark as dollar stays firm; positive local equities cap downside
The Indian rupee depreciated 67 paise to close near a three-week low of 95.23 (provisional) against the US dollar on Wednesday, as a strengthening dollar index weighed on emerging market currencies. The USD/INR pair witnessed significant pressure due to the strengthening of the American currency in the overseas market, persistent capital outflows, and broader Asian currency weakness. Moreover, market sentiment turned highly cautious, following the breach of the psychological level of 95.00. Local equities also rebounded driven by positive global cues, a drop in crude oil prices, and easing geopolitical tensions. The NSE Nifty 50 gained 140.10 points (0.59%) to close at 24,005.85, while the BSE Sensex climbed 443.97 points (0.58%) to settle at 76,922.64.