Indian rupee inches 2 paise higher at 73.66 against US dollar in early trade

#Indian Rupee, #Rupee, #US dollar

The Indian rupee opened on a flat note and inched higher by 2 paise to 73.66 against the US dollar in opening trade on Wednesday.

The domestic unit was trading in a narrow range as the US dollar regained strength ahead of the release of US inflation data. Moreover, high crude oil prices also restricted gains in the rupee, forex traders said.

At the interbank foreign exchange, the rupee opened at 73.68 against the dollar, then inched higher to 73.66, up 2 paise over its previous close.

The local unit touched an intra-day low of 73.71 in initial deals.

On Tuesday, the rupee had settled at 73.68 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 percent to 92.63.

Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,649.60 crore, as per exchange data.

On the domestic equity market front, BSE Sensex was trading 230.27 points or 0.40 percent higher at 58,477.36, while the broader NSE Nifty advanced 65.95 points or 0.38 percent to 17,445.95.

Meanwhile, global oil benchmark Brent crude futures rose 0.63 percent to USD 74.06 per barrel.

On the domestic macro-economic front, the wholesale price-based inflation rose marginally to 11.39 percent in August, mainly due to costlier manufactured goods.

Meanwhile, India’s exports jumped 45.76 percent to USD 33.28 billion in August on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals, even as the trade deficit widened to a four-month high of USD 13.81 billion, according to official data.

Internet Explorer Channel Network
News Related

OTHER NEWS

Asian stocks up as US dollar squeezed

Asian stock markets have risen, the US dollar has eased and longer-dated bonds rallied as investors reckoned on inflation bringing forward rate hikes around the world. MSCI's broadest index of ... Read more »

Sell USDINR; target of : 75.20 : ICICI Direct

ICICI Direct’s currency report on USDINR US dollar decline yesterday on a rise in risk appetite in the global markets and fall in longer dated US treasury yields. However, further ... Read more »

Trade Spotlight | What to do with Tata Motors, BHEL, M&M, Tata Chemicals stocks?

The Indian market consistently remained in an uncharted territory as the benchmark indices ended at fresh record closing highs on October 13, outperforming its global peers. The BSE Sensex rallied ... Read more »

Buzzing Stocks: Infosys, Wipro, UltraTech Cement and other stocks in news today

Results on October 14: HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, GTPL Hathway, Inox Wind, Inox Wind Energy, Mahindra CIE Automotive, Radhe ... Read more »

Carlyle Group to acquire A Twosome Place coffee chain

A Twosome Place image seen on the coffee chain’s official website / Courtesy of A Twosome Place By Anna J. Park The Carlyle Group plans to acquire Korea’s No. 2 ... Read more »

S&P 500 rises but JPMorgan a drag

The S&P 500 has ended higher, led by gains in shares of big growth names like Amazon and Microsoft, but JPMorgan shares fell and weighed on the index even though ... Read more »

Rupee recovers 15 paise to close at 75.37 against US dollar

The rupee on Wednesday rebounded by 15 paise to close at 75.37 (provisional) against the US dollar following a rally in domestic equities and weak American currency in the overseas ... Read more »

Natural gas futures fall on tepid global cues

Natural gas futures on October 13 slumped as participants increased their short positions as seen by the open interest. The gas price had risen 2.99 percent yesterday on the NYMEX. ... Read more »

10 stocks that saw maximum buying and selling by mutual funds

Inflows into equity and equity-oriented mutual fund (MF) schemes continued to be low for the second consecutive month, but inflows into systematic investment plans (SIPs) remained strong and touched over ... Read more »

Australian sharemarket lower for third straight day, iron ore miners weigh but gold stocks shine

The Australian sharemarket closed marginally lower after a choppy trading session, with banks and miners among the losers, but infant formula manufacturers rocketed. The benchmark S&P/ASX200 index finished down just ... Read more »

Sell USDINR; target of : 75.30 : ICICI Direct

rupee big_26776720 ICICI Direct’s currency report on USDINR US dollar increased yesterday amid risk aversion in the global markets and on anticipation that rising energy prices would fuel inflation and ... Read more »

Trade Spotlight | What should investors do with Jubilant FoodWorks, ICICI Securities and Radico Khaitan?

The market managed to add third of a percent gains amid volatile session and ended at fresh record closing high on October 12 continuing the uptrend for the third straight ... Read more »

Daily Voice | Robust recovery, macro numbers to push for fiscal consolidation, says Janakiraman of Franklin Templeton

A sharp swing in corporate earnings for 2020-21 and a strong demand recovery in real estate indicate that the growth momentum that India has revived after the Covid crisis will sustain over ... Read more »

Buzzing Stocks: RIL, Infosys, Wipro, Tata Motors and other stocks in news today

Results on October 13: Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries, ... Read more »

Wall St lower, jitters ahead of earnings

US stocks have finished lower, extending losses late as investors grew more jittery in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market. ... Read more »

Oil whipsaws in volatile session on energy crunch fears

Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery. Brent crude fell ... Read more »

Rupee declines 16 paise to 75.52; extends losses for third day

Representative image Falling for the third day in a row, the rupee weakened further by 16 paise to end at 75.52 against the US currency on Tuesday, weighed down by ... Read more »

Australian sharemarket loses ground for second straight day amid Asia, Wall Street sell-offs

The Australian sharemarket slumped for the second straight day following sell-offs on overseas markets. The benchmark S&P/ASX200 index closed 0.26 per cent lower at 7280.7 while the All Ordinaries Index ... Read more »

KKR betting more on Korea

KKR Co-CEO Joseph Bae By Park Jae-hyuk KKR is increasing its investments in Korea after Korean American co-President Joseph Bae was promoted to be one of two co-CEOs, succeeding the ... Read more »

India rupee slips 6 paise to 75.42 against US dollar in early trade

Representative image The Indian rupee depreciated 6 paise to 75.42 against the US dollar in opening trade on Tuesday, weighed down by the strengthening of the greenback in the overseas ... Read more »

Oil slips, takes breather after gains driven by global energy crisis

Representative image Oil prices edged lower on Tuesday, dropping for the first time in four days in what analysts called a breather after weeks of gains fuelled by a rebound ... Read more »

Tata Motors share price at 52-week high on robust global wholesales number

Tata Motors share price continued to gain for the fourth straight session on October 12 after the company reported 24 percent higher global wholesale figures for the September quarter compared ... Read more »

Buy USDINR; target of : 75.70 : ICICI Direct

ICICI Direct’s currency report on USDINR US dollar increased by 0.26% yesterday amid risk aversion in the global markets. Market sentiments were hurt on concerns that soaring oil prices may ... Read more »

Asian shares fall, worries over energy

Asian shares have dropped and the safe-haven US dollar has held firm as a global energy crunch fuelled inflation fears, clouding investor sentiment before the US corporate earnings season. MSCI's ... Read more »

US shares drop as soaring oil prices stir inflation woes; Yen wilts

Source: Reuters US shares fell on Monday, having whip-sawed between gains and losses as soaring oil prices that hit multi-year peaks stoked fears about rising prices and tighter monetary policy, ... Read more »

Wall St ends choppy session lower

US stocks have ended a choppy session lower as investors grew nervous ahead of the third-quarter earnings reporting season. Supply chain problems and higher costs for energy and other things ... Read more »

NSE launches weekly USD-INR futures contracts

Representative Image The National Stock Exchange (NSE) on Monday introduced weekly futures contracts in the US Dollar-Indian Rupee (USD-INR) currency pair. The first day witnessed participation from 122 trading members, ... Read more »

Red flag for the unstoppable bulls comes from rupee now

The defiant bulls continued their charge into the uncharted territory, often whipsawing technical breakdowns on the short-term charts as if the universe has conspired to make them victorious forever by ... Read more »

Rupee slumps 37 paise to close at 15-month low of 75.36 against US dollar

Representative image The rupee tumbled by 37 paise close at a 15-month low of 75.36 against the US dollar on Monday as rising crude oil prices and a stronger American ... Read more »

Ölpreise steigen – mehrjährige Höchststände erreicht

© ROSLAN RAHMAN / AFP / picturedesk.com Öltanker Nach wie vor befinden sich die Ölpreise in einem Höhenflug.Haupttreiber hierfür ist die angespannte Versorgungslage im Energiesektor. Nach wie vor befinden sich ... Read more »

Any correction in TCS will be a buying opportunity, says Vinod Nair of Geojit

The IT space has a positive outlook in view of the second-quarter results and strong deals bagged by most companies in the last one year, believes Vinod Nair, Head of Research at ... Read more »

Australian sharemarket follows Wall Street lower, casino operators weigh but resources stocks rise

The Australian sharemarket slumped after a negative lead from Wall Street, with casino operators tumbling on the local bourse but resources stocks rose on higher commodity prices. The benchmark S&P/ASX200 ... Read more »

Indian rupee slumps 17 paise to 75.16 against US dollar in early trade

Representative image 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 ... Read more »

Sell USDINR; target of :74.85 : ICICI Direct

ICICI Direct’s currency report on USDINR US dollar declined on Friday amid disappointing non-farm payrolls data. However, sharp downside was cushioned on uptick in US treasury yields and decline in ... Read more »

Aditya Birla Sun Life AMC debuts today: Here's what to expect from the listing

Aditya Birla Sun Life AMC, the largest non-bank affiliated AMC in India by quarterly average assets under management, is expected to start the first day trade with at least 5 ... Read more »

US stock futures lead Asia lower

Asian shares have slipped as global inflation angst favoured commodities as a hedge over US equities, while rising US bond yields lifted the US dollar to two-and-a-half year peaks against ... Read more »

LINA Korea to be sold to Chubb

LINA Life Insurance Co. of Korea / Courtesy of LINA Korea By Anna J. Park U.S.-based insurer group Chubb will become the new owner of LINA Life Insurance of Korea, ... Read more »

More foreigners turn to NPS for annuity

The headquarters of National Pension Service located in Jeonju / Yonhap By Anna J. Park A lawmaker noted Sunday that an increasing number of foreign nationals living in Korea are ... Read more »

China risks, supply chain disruptions to weigh on stock markets

Supply-side inflation feared to hurt production, consumption By Anna J. Park China’s liquidity risks and global supply chain disruptions are expected to continue weighing on local stock markets as such ... Read more »

TCS Q2 earnings miss street estimates; check what brokerages say

Tata Consultancy Services (TCS) on October 8 reported a consolidated net profit of Rs 9,624 crore for the quarter ended September 2021 (Q2FY22), registering a 14.1 percent year-on-year (YoY) growth. ... Read more »