Tag: early trade

Rupee surges 12 paise to 74.33 against US dollar in early trade

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The rupee surged 12 paise to 74.33 against the US dollar in opening trade on Monday as a firm trend in domestic equities and easing crude oil prices boosted investor sentiments.

At the interbank foreign exchange, the rupee opened strong at 74.38 against the dollar and gained further ground to 74.33 in early deals, a rise of 12 paise over its previous close.

On Friday, the rupee had settled at 74.45 against the US dollar.

According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, as the dollar index rises and oil prices fall, rupee is likely to move within a range of 74.20 to 74.60 for the day.

“With three listings on Wednesday, outflow could be seen particularly that of Paytm… India CPI came a tad higher at 4.48 per cent while IIP came a bit lower at 3.1 per cent. Oil prices have fallen to 81.50 while dollar Index has risen to 95.10,” Bhansali said, adding that exporters can take a call to sell at 74.55 while importers may buy near to 74.20.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 95.01.

Global oil benchmark Brent crude futures fell 0.82 per cent to $81.50 per barrel.

On the domestic equity market front, BSE Sensex was trading 144.4 points or 0.24 per cent higher at 60,831.09, while the broader NSE Nifty advanced 27.75 points or 0.15 per cent to 18,130.50.

Foreign institutional investors were net buyers in the capital market on Friday as they purchased shares worth ₹511.10 crore, as per exchange data.

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Rupee slips 11 paise to 74.16 against US dollar in early trade

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The Indian rupee depreciated by 11 paise to 74.16 against the US dollar in opening trade on Wednesday, tracking a lacklustre trend in the domestic equity market and firm American dollar.

At the interbank foreign exchange, the rupee opened on a weak note at 74.11, then fell further to 74.16, registering a decline of 11 paise from the last close.

On Tuesday, the rupee had closed at 74.05 against the US dollar.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.08 per cent to 94.03.

“As the inflows in the two IPOs getting subscribed are tepid, the dollar rupee was bought yesterday from 73.86. Today, there could be outflows of Nykaa and may be some inflows of Paytm,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

Bhansali further said that “importers to keep buying near to 74.00 and below. Exporters will wait for 74.40 and 74.50 before they begin to sell.” Global oil benchmark Brent crude futures advanced 0.29 per cent to $85.03 per barrel.

Moreover, foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth ₹2,445.25 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 286.21 points or 0.47 per cent lower at 60,147.24, while the broader NSE Nifty declined 84.40 points or 0.47 per cent to 17,959.85.

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Rupee surges 27 paise to 74.19 against US dollar in early trade

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The rupee surged 27 paise to 74.19 against the US dollar in opening trade on Monday supported by dovish central banks.

At the interbank foreign exchange, the rupee opened strong at 74.25 against the dollar and gained further ground to 74.19 in early deals, a rise of 27 paise over its previous close.

On Thursday, the rupee had settled at 74.46 against the US dollar.

The forex market was closed on Friday for ‘Diwali Balipratipada’.

The Indian Rupee opened stronger this Monday supported by dovish central banks, Reliance Securities said in a research note.

Fed’s taper announcement

Fed Chair Jerome Powell said he was in no rush to hike borrowing costs, as there was still ground to cover to reach maximum employment. The central bank did announce a $15 billion monthly tapering of its $120 billion in monthly asset purchases.

Additionally, flows into the market could also lend support. However, the Reserve Bank of India’s presence could cap the appreciation bias, the note said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.01 per cent to 94.31.

Global oil benchmark Brent crude futures rose 1.02 per cent to $83.58 per barrel.

On the domestic equity market front, BSE Sensex was trading 221.26 points or 0.37 per cent lower at 59,846.36, while the broader NSE Nifty declined 56.75 points or 0.32 per cent to 17,860.05.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth ₹328.11 crore, as per exchange data.

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Rupee gains 12 paise to 75.25 against US dollar in early trade

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The Indian rupee appreciated 12 paise to 75.25 against the US dollar in opening trade on Thursday, buoyed by heavy buying in domestic equities and fresh foreign fund inflows.

Weakness of the American currency in the overseas market also helped the domestic unit, forex dealers said.

However, higher crude prices restrained the rupee to gain momentum, they added.

At the interbank foreign exchange, the domestic unit opened strong at 75.27 against the US dollar, then gained further ground to 75.25, registering a rise of 12 paise against the previous close.

In initial deals, the rupee was trading in a tight range of 75.25 and 75.27 with a positive bias against the greenback.

The domestic had settled at 75.37 against the US currency on Wednesday.

Domestic equities

On the domestic equity market front, the BSE Sensex was trading 327.18 points or 0.54 per cent higher at 61,064.23, while the broader NSE Nifty surged 114.05 points or 0.63 per cent to 18,275.80.

Foreign institutional investors emerged as net buyers in the capital market on Wednesday, as they purchased shares worth ₹937.31 crore, as per exchange data.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.03 per cent to 94.05.

Global oil benchmark Brent crude futures rose 0.70 per cent to $83.76 per barrel.

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Rupee slumps 17 paise to 75.16 against US dollar in early trade

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The Indian rupee depreciated 17 paise to 75.16 against the US dollar in opening trade on Monday, as rising crude prices and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened on a weak note at 75.11, then fell further to 75.16, registering a decline of 17 paise from the last close.

On Friday, the rupee had settled at 74.99 against the US dollar.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08 per cent to 94.13.

According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, “with oil above $82 and US yields higher, USD/INR may come down to a maximum of 74.80 where importers may hedge their near-term payable, while exporters may sit quite with a stop loss of 74.75.” Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth ₹64.01 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 214.43 points or 0.36 per cent higher at 60,273.49, while the broader NSE Nifty was trading 74.80 points or 0.42 per cent higher at 17,970.

Global oil benchmark Brent crude futures advanced 1.43 per cent to $83.57 per barrel.

Meanwhile, the 13th round of military talks between India and China did not produce any resolution of the remaining issues in eastern Ladakh, the Indian Army said on Monday a day after the dialogue.

It said the Indian side made “constructive suggestions” for resolving the remaining areas but the Chinese side was not agreeable to them and also could not provide any forward-looking proposals.

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Rupee slumps 17 paise to 75.16 against US dollar in early trade

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The Indian rupee depreciated 17 paise to 75.16 against the US dollar in opening trade on Monday, as rising crude prices and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened on a weak note at 75.11, then fell further to 75.16, registering a decline of 17 paise from the last close.

On Friday, the rupee had settled at 74.99 against the US dollar.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08 per cent to 94.13.

According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, “with oil above $82 and US yields higher, USD/INR may come down to a maximum of 74.80 where importers may hedge their near-term payable, while exporters may sit quite with a stop loss of 74.75.” Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth ₹64.01 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 214.43 points or 0.36 per cent higher at 60,273.49, while the broader NSE Nifty was trading 74.80 points or 0.42 per cent higher at 17,970.

Global oil benchmark Brent crude futures advanced 1.43 per cent to $83.57 per barrel.

Meanwhile, the 13th round of military talks between India and China did not produce any resolution of the remaining issues in eastern Ladakh, the Indian Army said on Monday a day after the dialogue.

It said the Indian side made “constructive suggestions” for resolving the remaining areas but the Chinese side was not agreeable to them and also could not provide any forward-looking proposals.

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Rupee falls 8 paise to close at 74.14 against US dollar

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The rupee fell by 8 paise to close at 74.14 against the US dollar on Wednesday amid a lacklustre trend in domestic equities and strengthening of the American currency in the overseas market.

At the interbank foreign exchange market, the local currency opened at 74.18 and witnessed an intra-day high of 74.08 and a low of 74.26 against the US dollar in day trade.

The local unit finally settled at 74.14 a dollar, down 8 paise over its previous close. On Tuesday, the rupee had settled at 74.06 against the greenback.

“The Indian rupee depreciated amid strong dollar and muted domestic markets. Dollar gained strength on the back of a surge in US treasury yields. Yields are rising on expectation that the US Federal Reserve will start tapering its bond purchases before the end of the year and possibly begin raising interest rates next year,” said Raj Deepak Singh, Head-Derivatives – ICICI Securities.

A jump in commodity prices has also fuelled worries over short-term inflation pressures.

Furthermore, investors remained vigilant ahead of speeches of major central banks to get hints on their future monetary stance.

“Sharp downside was prevented on persistent FII inflows and as crude oil dipped from its high. Rupee may trade in the range of 73.90 to 74.40 in the next couple of sessions,” Singh noted.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 per cent higher at 93.82. Meanwhile, Brent crude futures, the global oil benchmark, declined 0.61 per cent to $78.61 per barrel.

On the domestic equity market front, the BSE Sensex ended 254.33 points or 0.43 per cent lower at 59,413.27, while the broader NSE Nifty declined 37.30 points or 0.21 per cent lower at 17,711.30.

Meanwhile, foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 1,957.70 crore, as per exchange data.

 

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Rupee inches 8 paise higher to 73.75 against US dollar in early trade

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The Indian rupee appreciated 8 paise to 73.75 against the US dollar in opening trade on Tuesday, tracking positive domestic equities.

Forex traders said rupee is trading in a narrow range as weakness of Asian currencies, firm crude oil prices and strong dollar weighed on the domestic unit.

At the interbank foreign exchange, the rupee opened at 73.79 against the dollar, then edged higher to 73.75, up 8 paise over its previous close.

On Monday, the rupee had settled at 73.83 against the US dollar.

Dolla index rises

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 93.44.

The Indian rupee opened on a flat note this Tuesday morning against the dollar, tracking the strength of the greenback and strong crude oil prices, Reliance Securities said in a research note.

Moreover, most emerging market and Asian currencies have started weaker this Tuesday morning and will weigh on sentiments, the note added.

Meanwhile, foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth ₹594.63 crore, as per exchange data.

On the domestic equity market front, the BSE Sensex was trading 16.19 points or 0.03 per cent higher at 60,094.07, while the broader NSE Nifty advanced 24.75 points or 0.14 per cent to 17,879.85.

Meanwhile, global oil benchmark Brent crude futures rose 0.79 per cent to $80.16 per barrel.

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Rupee slips 5 paise to 73.73 against US dollar in early trade

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The Indian rupee edged lower by 5 paise to trade at 73.73 against the US dollar in opening deals on Monday due to fresh demands for dollar from banks and importers.

Though, a sustained bull run in the domestic equity market and dollar’s weakness against key rivals overseas lent some support to the rupee and checked its further fall, analysts said.

At the interbank foreign exchange, the rupee opened on a weak note at 73.70 and slid further to 73.73 as the trade progressed, logging a loss of 5 paise against the greenback over its previous close.

On Friday, the Indian currency had closed 4 paise down at 73.68 against the US dollar.

Dollar index

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.11 per cent to 93.22.

On the domestic equity market front, the BSE Sensex was trading 114.73 points or 0.19 per cent higher at 60,163.20. Similarly, the NSE Nifty was trading 23.25 points or 0.13 per cent up at 17,876.45.

Meanwhile, global crude oil benchmark Brent futures advanced 1.19 per cent to $79 per barrel.

Foreign institutional investors were net buyers in the capital market on Friday as they purchased shares worth ₹442.49 crore, as per exchange data.

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