early trade – The News Desk

JP Morgan: Rupee snaps two-day fall, recovers 6 paise against US dollar

27Sep

By adminNo Comments

Business

JP Morgan: Rupee snaps two-day fall, recovers 6 paise against US dollar

MUMBAI: The rupee on Wednesday staged a recovery after two days of steep losses to end 6 paise higher at 83.22 (provisional) against the US dollar on positive cues from domestic equity markets.However, selling pressure from foreign equity investors amid elevated levels of American currency and surging crude oil prices weighed on the local unit, forex traders said.At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.18 to 83.24 against the greenback. It finally settled at 83.22 (provisional), registering a gain of 6 paise from its previous close.The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a decline of 19 paise.The downward movement of the rupee w...

Rupee rises 38 paise to 82.75 against US dollar in early trade

MUMBAI: The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment.Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors.At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close.On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar.India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said."The inclusion of In...

Markets climb in early trade on firm global trends, encouraging domestic macroeconomic data

MUMBAI: Equity benchmark indices climbed in early trade on Monday in line with firm trend in global markets and encouraging domestic macroeconomic data.Fresh foreign fund inflows also added to the optimistic trend in the domestic equity market.Extending its previous day's rally, the BSE benchmark Sensex climbed 243.69 points to 65,630.85 in early trade. The Nifty went up by 91.5 points to 19,526.80.From the Sensex pack, Tata Steel, JSW Steel, UltraTech Cement, Larsen & Toubro, Maruti, HCL Technologies, Wipro and Tech Mahindra were the major gainers.ICICI Bank, Nestle, Asian Paints and Power Grid were among the laggards.In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains.The US markets ended mostly in the positive territory on Friday.Manufacturing activities ...