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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.
INR seen mildly supported as govt raises gold tariff
The Indian rupee is seen recovering some of its lost momentum from record low levels in opening trades on Tuesday after the govt stepped in to stabilize the local unit. The govt has raised import tariffs on gold and silver to 15%, reversing the 2024 duty cuts, as the government moves to curb surging precious metal imports, narrow trade deficit and support the rupee amid mounting external pressures. INR opened at Rs 95.52 per dollar and rebounded to a high of 95.51 so far during the day. Yesterday the counter closed at 95.68. Indian shares are seen opening little changed on Wednesday after two consecutive heavy sell-off sessions. Yesterday, Indian equity markets experienced a sharp decline, with the Sensex settling 1,456.04 points (1.92%) lower at 74,559.24 and the Nifty 50 falling 436.30 points (1.83%) to close at 23,379.55.
INR closes at all-time low as global risk aversion resurfaces
The Indian rupee depreciated 35 paise to close at an all-time low of 95.63 (provisional) against the US dollar on Tuesday, as renewed tension between the US and Iran has led to risk aversion in global markets. Market sentiment remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after President Donald Trump rejected Tehran's latest response to a US-backed peace proposal, calling it totally unacceptable. Moreover, market participants interpreted Prime Minister Narendra Modi's comments over the weekend regarding fuel conservation and lower imports as a subtle acknowledgement that India's trade deficit and balance-of-payments pressures could worsen if crude prices remain elevated for longer. The Sensex tumbled 1,456.04 points (1.92%) to settle at 74,559.24, while the Nifty 50 dropped 436.30 points (1.83%) to end at 23,379.55.
Sensex slips 252 pts, Nifty below 24,050 amid currency weakness and expiry volatility
The key equity benchmarks closed with measured losses on Tuesday, as a sharp slide in the rupee to a record low against the US dollar rattled sentiment, while the weekly expiry of Nifty derivatives injected fresh volatility into the market. Escalating US-Iran tensions further bruised investor confidence, wiping out recent optimism sparked by state election results and echoing weakness across global markets. Ongoing quarterly earnings announcements kept traders on edge, prompting a cautious stance. The Nifty slipped below the 24,050 mark, weighed down by private banks and consumer durables stocks, while FMCG, auto and pharma shares defied the broader weakness and ended in the green.
Rupee hits record low of 95.40 against US dollar
Indian rupee reached record low against US dollar as Brent crude surges after Iran escalates action in Strait of Hormuz, raising supply and volatility risks.
Raja Venkatraman, MarketSmith recommend five stocks for 4 May
After a dip in late April, Indian markets may start positively on May 4, driven by a favourable Gift Nifty. Analysts recommend buying stocks such as Syngene International and DCM Shriram, highlighting their growth potential despite recent market volatility.
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 ..
INR weakens near Rs 94 per dollar mark amid resurgence in oil prices
The Indian rupee weakened for the third straight session, losing 39 paise to settle at 93.83 (provisional) against the US dollar on Wednesday as oil prices resumed surge amid uncertainty on US-Iran peace talks eroded hopes of easing West Asia conflict. Intense selling in domestic equity markets and sustained outflow of foreign capital also weighed on the Indian currency. Indian shares fell sharply on Wednesday, with stalled U.S.-Iran peace talks, somewhat hawkish comments from Federal Reserve nominee Kevin Warsh at a Senate confirmation hearing, and a disappointing set of numbers for the fourth quarter from IT major HCL Technologies weighing on sentiment. The Sensex settled 757 points or 0.95% lower at 78,516, while the Nifty 50 ended 198 points or 0.8% lower at 24,378. At the interbank foreign exchange market, the rupee opened at 93.69 and touched an intraday low of 93.87 against the greenback during the session, nearing the 94 level and its lowest level in three weeks.
Life insurers see double-digit premium growth in March; retail business performance varies
Life insurers report strong March premium growth, with Axis Max, ICICI Prudential and LIC showing gains but mixed trends in retail APE performance.
INR settles lower amid lingering geopolitical uncertainties; RBI measures help retain support near 3-week high
The Indian rupee pared initial gains and settled for the day 24 paise lower at 92.76 (provisional) against the US dollar on Friday, weighed down by risks from rising global tensions, especially the US-Iran conflict. Rupee witnessed high volatility as the deadline for the RBI's instructions to banks to curb their overnight positions to USD 100 million closes on Friday amid heightened geopolitical uncertainty. At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then lost ground to touch an intra-day low of 92.76 against the greenback. It also hit the day's high of 92.41 during the session. Indian shares rallied on Friday in a broad market rally even as fresh Israeli strikes on Lebanon cast doubt over the durability of the fragile U.S.-Iran ceasefire. The Sensex closed at 77,550.25 and the Nifty 50 ended at 24,050.60.
Exclusive: Life insurers see uneven growth as some lag, others outperform in FY26
Life insurers reported mixed retail APE trends for FY26, with industry growth at around 12%, according to CNBC-TV18 sources. While HDFC Life and ICICI Prudential missed guidance, Axis Max Life and SBI Life met or exceeded expectations.