Thursday, 19 July 2018

The Indian Rupee Slipped In The Early Trade On Thursday

The Indian rupee slipped in the early trade on Thursday. It has opened lower by 8 paise at 68.70 per dollar versus 68.62 yesterday.

Rupee fell against the US dollar in yesterday’s session following uptick in global crude oil prices and after the greenback strengthened against its major crosses, said Motilal Oswal.

Following the Fed Chairman testimony the US dollar rose to the highest level in a year. In his testimony, the Fed Chair said he believed the US economy was on course for years more of steady growth, and played down the risks to the US economy of the escalating trade conflict.

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Equity Benchmarks Have Begun The Day On A Positive Note

Equity benchmarks have begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty has reclaimed 11,000 in the opening tick.

The Sensex is up 106.61 points or 0.29% at 36480.05, while the Nifty is up 24.40 points or 0.22% at 11004.90. The market breadth is positive as 261 shares advanced, against a decline of 105 shares, while 40 shares are unchanged.

All sectoral indices are trading in the green, with maximum gains seen among metals, and automobiles. Midcaps, meanwhile, are trading absolutely flat.

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Wednesday, 18 July 2018

The Indian Rupee Opened Marginally Higher At 68.42 Per Dollar On Wednesday

The Indian rupee opened marginally higher at 68.42 per dollar on Wednesday versus 68.45 yesterday.
Yesterday, rupee broadly consolidated in a range but traded with a slight positive bias despite strength in the dollar against its major crosses. 

Crude oil came under pressure API after reported a surprise crude oil build of 629,000 barrels of United States crude oil inventories for the week ending July 14 compared to expectations that this week would see a draw in crude oil inventories of 3.62mbpd, said Motilal Oswal.

Crude has been one of the major factor that is supporting the rupee and sustained fall in the same could continue to keep losses capped for the rupee.

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It’s A Strong Start To The Market On Wednesday Morning

It’s a strong start to the market on Wednesday morning, with the Sensex hitting a fresh record high, rising 200 points, while the Nifty opened above 11,050-mark.

The Sensex is up 198.95 points or 0.54% at 36718.91, while the Nifty is up 62.50 points or 0.57% at 11070.50. The market breadth is positive as 354 shares have advanced, while 79 shares have declined, and 46 shares are unchanged.

Among sectoral indices, all of them are trading in the green, with strength seen among PSU banks pharmaceuticals, energy and auto names. In the broader market, midcaps are trading higher as well, up over half a percent on the index.

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Tuesday, 17 July 2018

The Indian Rupee Gained In The Opening Trade On Tuesday

The Indian rupee gained in the opening trade on Tuesday. It has opened higher by 18 paise at 68.39 per dollar versus 68.57 yesterday.

Rupee continued to consolidate in a broad range of 68.50 and 69.00 since the last fourteen sessions despite volatility in global crude and strength in the dollar against its major crosses, said Motilal Oswal.

In the last few sessions crude oil has been under pressure as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. There are also reports that US could tap its Strategic Petroleum Reserve, which would add supply to the market. Sharp sell-off in crude oil prices is expected to support the rupee in the intraday session.

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Shares Of Ashok Leyland Were Trading Over 2 Percent Higher In The Morning Trade On Tuesday

Shares of Ashok Leyland were trading over 2 percent higher in the morning trade on Tuesday ahead of its June quarter earnings announcement.

The stock touched an intraday high of Rs 128.45 and an intraday low of Rs 125.00.

Gaining from a continued surge in demand across categories, and last year's lower base, domestic commercial vehicle manufacturer Ashok Leyland will likely post a threefold rise in its bottom line for the June quarter.

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Monday, 16 July 2018

The Indian Rupee Opened Marginally Lower At 68.55 Per Dollar On Monday

The Indian rupee opened marginally lower at 68.55 per dollar on Monday versus previous close 68.52.

Rupee fell on Friday, ahead of the trade balance number that was released post market hours. India’s trade deficit for June widened to the highest level driven largely by a surge in oil prices, said Motilal Oswal.

Merchandise exports rose 17.57 percent Y-o-Y in June, the trade deficit widened to USD 16.6 billion from USD 14.62 billion in May. Oil imports during April- June 2018-19 were valued at USD 34.64 billion which was 49.44 percent higher as compared to the same period last year.

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