A sustained recovery in Asian markets, Nomura said, will largely depend on how the Covid situation and the ensuing curbs put in place to combat the pandemic in China plays out going ahead
The rupee fell 39 paise to an all-time low of 82.69 against the US dollar in early trade as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit
The rupee has depreciated 9.7 per cent against the dollar since September 2021
In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.
Until the S&P BSE Sensex and Nifty50 do not break 57,000 and 17,000 levels, there are higher changes of touching 64,000 and 19,000 levels.
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The rupee consolidated in a narrow range and settled 7 paise higher at 79.74 against the US dollar on Tuesday, snapping its four-session falling streak as investors await the US Fed's policy statement for further cues. At the interbank forex market, the local unit opened at 79.70 against the greenback. It witnessed an intra-day high of 79.58 and a low of 79.77 during the session. It finally ended at 79.74, up 7 paise from its previous close of 79.81. The rupee declined by 64 paise in the past four sessions due to forex outflows and a stronger dollar. The dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.12 per cent to 109.87. Brent crude futures, the global oil benchmark, advanced 0.14 per cent to USD 92.13 per barrel. "Rupee continued to consolidate in a narrow range despite gains in domestic equities. Volatility remained low ahead of the important FOMC policy statement that will be released tomorrow," said Gaurang Somaiya, Forex & .
Market is building an earnings growth of 10-12 per cent for FY23, which seems achievable given the present earnings momentum and economic outlook, says Sanjay Chawla of Baroda BNP Paribas MF.
The information technology sector (IT), Jefferies believes, remains at significant risk of sell-off if the Nifty were to correct
Markets, Credit Suisse said, had factored in excessive hope and not enough economic realities ahead of the Jackson Hole Symposium
But depreciation likely to be orderly because of RBI support, FPI inflows
The recent 'hope rally' in Indian markets was mostly led by a presumption that global central banks, especially the US Fed, may go slow on rate hikes in the rest of 2022 as the inflation cools off.
Asian shares got off to a rocky start on Monday while the dollar remained in demand amid concerns that most major central banks are committed to raising interest rates no matter the risks to growth
Economists polled by Reuters had forecast a 0.2% rise on the heels of a roughly 20% drop in the cost of gasoline
NEW YORK/LONDON (Reuters) - The dollar rebounded from a three-week low in choppy trading on Friday, as a round of U.S. economic data suggested that inflation continued its red-hot rise in June, keeping the Federal Reserve on track to raise interest rates as aggressively as it deems necessary.
As the cryptocurrency market cap crossed $1.1 trillion mark on Friday and Bitcoin rose above $24,000, experts said that 'we are not there yet'
Gold and silver have always remained some of the precious assets to safeguard against inflation
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Markets perceive Fed as being less hawkish