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INR recovers from record lows but settles beyond 92/$ mark
The Indian rupee recovered from record low levels and settled with a loss of 16 paise at 92.17 (provisional) against the US dollar on Thursday as global crude oil prices stayed on an upward trajectory amid the raging war in West Asia. A stronger greenback and volatility in the domestic equity markets further weighed on the rupee, which was already on a weak footing in early trade due to heavy foreign fund outflows. Indian shares fell sharply on Thursday to extend losses from the previous session as the prospect of a quick end to the war in West Asia thinned and trade tensions resurfaced. At close, the Sensex declined 829.29 points, or 1.08 per cent, to settle at 76,034.42, taking its two-day decline to 2,171.56 points. While the Nifty slipped 227.70 points, or 0.95 per cent, to close at 23,639.15, it slipped 2.56% in two sessions. At the interbank foreign exchange, the local unit opened at 92.25 but kept slipping to touch its record intra-day low against the greenback at 92.36. ...
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Market HIGHLIGHTS: Sensex sinks 1,141 pts; Nifty slips 393 amid US-Iran war worries
Market HIGHLIGHTS: Equity benchmarks ended sharply lower on Tuesday, with the Sensex closing at 79,098, down 1,141 points or 1.4%. The Nifty 50 dropped 393 points, or 1.6%, to finish at 24,472. The pressure on equities came alongside weakness in the currency market. The Indian rupee settled at 92.1500 per dollar at 1530 IST, depreciating from 91.4700 in the previous session on Monday. Here are the top highlights from today's trading session:
Trade Setup for March 2: Nifty braces for Monday chaos after US, Israel attack Iran
Before the markets open here in India, the bigger reaction will be seen on other asset classes beyond equities. Crude oil prices, Gold prices, moves on the US Dollar, the Yen, all of which will be significant and keenly monitored by the street. In fact, Barclays has already written in a note to clients that oil prices could go up to as high as $100 per barrel.
Bank shares rise up to 2% on RBI measures to draw dollar inflows; Canara, Yes Bank, PNB among top gainers
Nifty Bank index rose as much as 0.6 percent, extending gains for a fourth straight session. Eleven of its 14 constituents were trading in the green.
First Tick: Top global cues to watch in today's trade
GIFT Nifty signals a weak start as fresh US strikes on Iran lift crude oil and the dollar, while Asian markets trade mixed.
IT shares extend gains to 3rd day on strong dollar; Coforge, Mphasis, Infosys rise up to 6%
IT index rose about 4 percent during the session and was the top sectoral gainer on the Nifty.