Today Rupee opens at 66.80 per dollar; gains 22 paise At currency Market

Today Rupee opens at 66.80 per dollar; gains 22 paise At currency Market

 

The Indian rupee gained in the early trade on Monday. It opened higher by 22 paise at 66.80 per dollar versus 67.02 Friday.

Pramit Brahmbhatt of Veracity said, "Constant inflow from FIIs in the domestic equity market and lower crude oil prices will help the rupee appreciate.

We expect the USD-INR pair to trade in a range of 66.90-67.30/dollar."

The yen fell following a 3.1 percent surge on Friday as the Bank of Japan boosted purchases of exchange-traded funds.

 

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Today Rupee opens flat at 67.04 per dollar at Currency market

Today Rupee opens flat at 67.04 per dollar at Currency market

 

The Indian rupee opened flat at 67.04 per dollar on Friday against previous close 67.04.The yen gained amid jittery trade ahead of today's much-anticipated policy review from the Bank Of Japan.

US DOLLAR INDEX (USD)

The American currency plunged by 0.3 percent in yes terday’s trading session as markets discounted the recent FOMC monetary policy review. The Federal Reserve made a comment that the labour market was finally getting back on track and near term risks to the American economy had started to fade. However, the inflation rate still lingered under the 2 percent target which prompted the US policymakers to keep the interest rates on hold. There was no major volatility in the DX since markets were not expecting a rate hike this time but wanted clues as to when the Feds would go for a rate hike in times of uncertainty like the post - Brexit effects and the upcoming US Presidential elections. The American currency made an intraday low of 96.25 and closed at 96.72.

OUTLOOK

Rupee is likely to trade negative as markets indulge in speculation prior to the BoJ monetary Policy review that is to be held anytime during the day. Markets expect aggressive easing by the BoJ so as to boost the Japanese economy. this will keep the Indian Rupee pressurized.

 

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Today Rupee opens higher at 67.06 per dollar at the Currency Market

Today Rupee opens higher at 67.06 per dollar at the Currency Market

The Indian rupee opened higher by 8 paise at 67.06 per dollar on Thursday versus 67.14 Wednesday.The USD lost ground marginally against most currencies. Passage of GST in this session will be a positive for the rupee." 

"We expect the USD-INR pair to trade in a range of 66.85-67.15/dollar today,". The dollar slipped against the euro and the yen after Fed stays pat.

US DOLLAR INDEX (USD)

In spite of the robust release of consumer confidence and n ew home sales data from the nation that came better than the forecasted levels, the American currency plunged by 0.2 percent in yesterday’s trading session. This weakness could be attributed to the increased speculation and caution in the market ahead of the FOMC monetar y policy review that is to be held today in the later part of the day. I nv estors will anxiously vouch for this meeting so as to gauge the timing of the interest rate hike which in turn has kept the DX pretty volatile. The American currency made an intraday low of 96.90 and closed at 97.17.

OUTLOOK

Rupee is likely to depreciate today as increased speculation with regards to US rate hike in today ’s FOMC meeting will keep the DX volatile in turn acting as a negative factor for the Rupee. However, state ministers agreed to implement GST bill on the principle that the tax rate will be lower t han the current levels . T his will provide some support.

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Today Rupee opens at 67.33 per dollar , down 6 paise at currency Market

Today Rupee opens at 67.33 per dollar , down 6 paise at currency Market

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 6 paise at 67.33 per dollar versus 67.27 Tuesday. 

NS Venkatesh of Lakshmi Vilas Bank said, "Outcome of the FOMC meeting will be key for the currency. Dovish comments indicate that rate hike has been pushed to December." He further added, "We expect the rupee to trade between 67.20-67.31/dollar today."

The dollar was steady against other currencies ahead of the Federal Reserve's policy announcement later today. The positive US economic data has increased expectations that the Fed could raise rates in December, boosting the relative attraction of the dollar. 

The yen fell in early asian trade on Wednesday on expectations of significant monetary stimulus by the Bank of Japan later in the week.

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Indain Rupee opens lower at 67.41 per dollar At currency market

Indain Rupee opens lower at 67.41 per dollar At currency market

The Indian rupee opened marginally lower at 67.41 per dollar on Tuesday against previous close 67.35.

The dollar slipped ahead of the US Federal Reserve's two-day policy meeting that begins later on Tuesday, while the yen gained on hopes that the Bank of Japan will ease later this week. The US central bank is widely expected to stand pat on policy, but investors were bracing for any possible signals from the Fed about a tightening later this year.

US DOLLAR INDEX (USD)

The American currency plunged by 0.2 percent in yesterday ’s trading session as recent robust release of economic datasets from the nation has led to increased speculation that US Feds might opt for a rate hike in the upcoming FOMC monetary policy review. This has led to huge volatility in the DX. Moreover, lack of important economic data releases and events kept the trading volumes light yesterday. The American currency made a n intraday low of 9 7. 25 and closed at 97. 21.

OUTLOOK

Rupee is likely to trade negative owing as mixed trading in the Asian markets will govern the trend of the Indian markets and its currency. Moreover , increased speculation with regards to US rate hike in the upcoming FOMC meeting that will take place today and tomorrow will likely keep the DX volatile in turn acting a negative factor for the Rupee.

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Axis Bank falls after missing Q1 profit estimates

Axis Bank falls after missing Q1 profit estimates

 

Shares of Axis BankBSE -1.48 %, India's third largest private sector lender, fell over 2 per cent in the early trade on Monday after it reported a 21 per cent drop in net profit at Rs 1,555.50 crore for the June quarter on account of a rise in bad loans.

The bank had earned a net profit of Rs 1,978.44 crore in the April-June quarter of last financial year. Gross NPA in absolute terms rose to Rs 9,553 crore this June quarter compared with Rs 4,251 crore at the end of June, 2015.

Total income of the bank improved to Rs 13,852.1 crore from Rs 12,234.41 crore in the same period last year.

At 9:34 am, shares of the bank were trading at Rs 526.20 apiece, down 2.11 per cent from its previous close on the Bombay Stock Exchange (BSE). 

 

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Today Rupee opens flat at 67.18 per dollar At currency Market

Today Rupee opens flat at 67.18 per dollar At currency Market

The Indian rupee opened flat at 67.18 per dollar on Friday versus previous close of 67.17.

Support level of 67/dollar will hold and the trading range is seen between 67.10-67.50/dollar. Yen held steady after appreciating over 1 percent overnight, dollar index pared some of its gains, slipped below 97 mark.

               US DOLLAR INDEX (USD)

In spite of the robust release of unemployment claims and existing home sales data from the nation, t he American currency traded lower by 0.2 percent yesterday and closed at 97. 05 levels . The weakness could be attributed to the weak corporate results from the US companies that kept the traders cautious to place any risky bets. Furthermore, according the recent data manufacturing activities in the Philadelphia - region showed an unexpected s lump July’16. This has raised concerns over the health of the economy.

OUTLOOK 

Rupee is likely to trade sideways to negative as weak trading in the global markets will govern the trend of the Indian markets and its currency.

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Today Rupee opens lower at 67.22 per dollar At currency market

Today Rupee opens lower at 67.22 per dollar At currency market

 

The Indian rupee opened lower at 67.22 per dollar on Thursday versus previous closing 67.20.

Dollar index at a four-month high against a basket of currencies helped by strong US data and growing expectations that the Fed may raise rates before the end of the year.

US DOLLAR INDEX (USD)
The American currency traded higher by 0.2 percent yesterday and closed at 97.26 levels owing to the robust release of building permits and house starts data from the nation. Construction of newly made home rose more than the forecasted levels in Jun’16, thereby indicating the fact t hat residential real estate has finally gained momentum near the end of its busy selling season. Better - than - anticipated corporate earnings reports from the US companies have also contributed to the boost. Moreover, last week’s robust release of economic d ata from the nation like unemployment claims, producer price data, retail sales and industrial production data has boosted the confidence of the people in the economy. All the above factors have led to DX strengthening.

OUTLOOK
Rupee is likely to trade positive as positive trading in the Asian market equities after Kyodo reported that Japanese government might infuse a stimulus package of at least 20 trillion yen. This will govern the tren d of the Indian markets and its currency.

 

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Rupee opens lower at 67.15 per dollar

Rupee opens lower at 67.15 per dollar

The Indian rupee opened lower by 5 paise at 67.15 per dollar on Wednesday versus previous close of 67.10.

The dollar at four-month high against a basket of major currencies after data showed US housing starts rose more than expected in June, underpinning a theme of strength in the US economy.

US DOLLAR INDEX (USD)

The American currency traded higher by 0.5 percent yesterday and closed at 97.11 levels owing to the robust release of building permits and house starts data from the nation. Construction of newly made home rose mor e than the forecast ed levels in Jun ’16, thereby indicating the fact that residential real estate has finally gained momentum near the end of its busy selling season. Moreover, last week’s robust release of economic data from the nation like unemployment cl aims, producer price data, retail sales and industrial production data has boosted the confidence of the people in the economy. All the above factors have led to DX strengthening.

OUTLOOK

Rupee is likely to trade negative owing to mixed trend seen in the emerging market equities. Recent rally seen in the equities has prompted the traders to book profits which will keep the Indian Rupee pressurized. 

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Today Rupee opens marginally lower at 67.23 per dollar At currency Market

Today Rupee opens marginally lower at 67.23 per dollar At currency Market

 

The Indian rupee opened marginally lower at 67.23 per dollar on Tuesday against previous close of 67.20.

The dollar held steady against the major currencies, the dollar index is holding above the 96 mark.
 

 US DOLLAR INDEX (USD)
The American currency traded on a flat note yesterday and closed at 96.59 levels as lack of important economic datasets and events from the nation kept the trading volumes light. Moreover, in spite of the robust release of economic datasets from the nation like unemployment claims, producer price data, retail sales and ind ustrial production data from the nation, the American currency traded lower. This was mainly due to soaring of Japanese Yen against the American currency. A formal visit by former US Fed Chairman Ben Bernanke to the Bank of Japan governor yesterday has rai sed speculation that Japan might decide to provide fresh round of fiscal stimulus. This acted as a negative factor for DX. The American currency made an intraday low of 96.46 and closed at 96.59 on Monday.

OUTLOOK

Rupee is likely to appreciate in today’s trading session owing to weakness seen in the American currency that will keep the Indian Rupee supportive. Moreover, expectations of infusion of fresh stimulus in the markets by the central banks around the world have boosted the confidence in the market. 

 

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Today Rupee opens lower at 67.15 per dollar At currency Market

Today Rupee opens lower at 67.15 per dollar At currency Market

The Indian rupee has opened lower by 9 paise at 67.15 per dollar on Monday against Friday's closing value of 67.06 a dollar.

Turkey's Lira recouped losses as concern eased following a failed coup attempt in Turkey. The nation's currency plunged the most in eight years against the dollar on Friday. Meanwhile, the yen declines against the dollar.

US DOLLAR INDEX (USD) 

The American currency weakened by 0.3 percent in th e last week in spite of the robust release of economic datasets from the nation like unemployment claims, producer price data, retail sales and industrial production data from the nation. This was mainly due to soaring of Japanese Yen against the American currency. A formal visit by former US Fed Chairman Ben Bernanke to the Bank of Japan governor yesterday has raised speculation that Japan might decide to provide fresh round of fiscal stimulus. This acted as a negative factor for DX. The American currency made a weekly low of 95.84 and closed at 95.99 on Friday

OUTLOOK 

Rupee is likely to depreciate in today’s trading session as recent slag seen the American currency will prompt the traders to place fresh bets. Moreover, mixed trading in the Asian markets will govern the trend of the Indian Rupee.

Rupee opens marginally higher at 66.88 per dollar , Infosys posts 4% drop in Q1 PAT at Rs 3,440 crore

Rupee opens marginally higher at 66.88 per dollar , Infosys posts 4% drop in Q1 PAT at Rs 3,440 crore

The Indian rupee opened marginally higher at 66.88 per dollar on Friday versus previous close of 66.91.

Infosys BSE -8.32 % put out a quarterly report card that fell well below market expectations. It slashed its full-year revenue guidance, disappointing investors who punished the stock in early-morning trade as weak spending from Europe dragged down quarterly growth and ended the company's recent resurgence over the last four quarters.

Shares of India's second largest software exporter were down nearly 9% in early morning trade at Rs. 1075.50 on the BSE at 10.35 a.m. on Friday.

Infosys also scaled down its full-year revenue guidance to 10.5-12% in constant currency terms. In April Infosys forecast revenue growth of 11.8-13.8% in actual currency terms for the 2016-17 fiscal and by 11.5-13.5% in constant currency terms.

 

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Today Rupee opens Marginally higher at 67 per dollar

Today Rupee opens Marginally higher at 67 per dollar

 

The Indian rupee opened with marginal gain of 5 paise at 67 per dollar on Thursday versus previous close 67.05. Mohan Shenoi of Kotak Mahindra Bank said,

"Global equity market rally of the last few days has slowed down. The market focus is now on Bank of England's MPC meeting with an expectation of rate cut or stimulus."

"The Bank of Japan stimulus package is also widely expected. Global currency markets are flat except yen weakness across the board. The trading range for the USD-INR is seen between 66.95-67.25/dollar for the day," he added.

The yen strengthened versus the dollar. Meanwhile, the pound slipped amid Theresa May's elevation as Britain's new prime minister. 

 

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Today Rupee opens marginally lower at 67.17 per Dollar At currency Market

Today Rupee opens marginally lower at 67.17 per Dollar At currency Market

 

The Indian rupee opened marginally lower by 5 paise at 67.17 per dollar on Tuesday versus 67.12 Monday.

The USD-INR pair is expected to trade in the 66.90-67.50/dollar range with an appreciating bias,

The dollar near a one-week high against the yen following Japanese Prime Minister Shinzo Abe's call for a fresh round of fiscal stimulus. Also pound gained as Theresa May is set to be UK PM after Andrea Leadsom quit.

US DOLLAR INDEX (USD)

The American currency rose by 0. 3 percent in yesterday’s trading session as investors are discounting the recent robust release of economic data sets from the nation. ADP Non - Farm Employment for the month of Jun’16 increased to 172K from 168K, Non - Farm Employment rose to 287K from 11K and jobless claims dropped unexpectedly last week which meant that labour market was back on track. Moreover , the American currency soared against the Japanese Yen after a formal visit by former US Fed Chairman Ben Bernanke to the Bank of Japan governor yesterday has raised speculation that Japan might decide to provide fresh round of fiscal stimulus. All the above factors acted as a positive factor for the currency. The American currency made a n intraday high of 96.81 and closed at 96.59 on Monday.

OUTLOOK

Rupee is likely to trade slightly negative owing to strength seen in the American currency after a formal visit by former US Fed Chairman Ben Bernanke with the BoJ governor has sparked expect ation of more stimuli from Japan. This will keep the Indian Rupee pressurized against the American currency.

 

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Today Rupee opens marginally lower at 67.47 per dollar at Currency Market

Today Rupee opens marginally lower at 67.47 per dollar at Currency Market

 

The Indian rupee opened marginally lower by 8 paise at 67.47 per dollar on Friday versus previous close of 67.39.

Dollar gained against major currencies with investors awaiting the US non-farms payroll report due later today.

US DOLLAR INDEX (USD)

The American currency rose by 0.3 percent in yesterday ’ s trading session on account of robust release of economic data s e ts from the nation which has infused some hopes in the markets with respect to the strength of the economy. ADP Non - Farm Employment for the month of Jun ’ 16 increased to 172K from 168K and jobless claims dropped unexpectedly last week which mean t that labour market was back on track. H owever , markets are still discounting the outcome of US Fed s meeting minutes that showed Brexit issue will be the key going ahead for any further c lues on rate hike. M oreover , many Fed policymakers believed that slowdown in the hiring process could be statistical noise, and most argued the economy would be ready for rate increases u nless a financial or economic shock knocks America off course.

OUTLOOK

Rupee is likely to trade negative owing to strength seen in the American currency after the robust release of ADP employment data from the US. Moreover, weak trading in Asian equ ities will also govern the trend of the Indian markets and its currency.

 

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Today Rupee opens flat at 67.46 per dollar At the Currency Market

Today Rupee opens flat at 67.46 per dollar At the Currency Market

 

The Indian rupee opened flat at 67.46 per dollar on Thursday versus Tuesday's closing of 67.46. Mohan Shenoi of Kotak Mahindra Bank said, "Political turmoil in UK continues post Brexit vote with pound testing fresh lows below 1.28 before recovering from that level."

"June FOMC minutes were mildly dovish indicating no US Fed rate hike in CY16. Bunched up inward custodial flows and remittances for last 3 days due to Indian and US holidays could support rupee today."

"We see the USD-INR trading range for the day between 67.30-67.60/dollar," he added. The pound at 31-year low on mounting worries the Brexit would have on the global economy and the yen continues to climb. 

 

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Nifty hovers around 8350, midcap rises; UltraTech hits new high

Nifty hovers around 8350, midcap rises; UltraTech hits new high

 

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.3 percent. Even the market breadth was positive as about 1049 shares advanced against 861 declining shares on the Bombay Stock Exchange.

Equity benchmarks continued to consolidate after a rally in previous six sessions. The Sensex fell 28.80 points to 27249.96 and the Nifty declined 15.55 points to 8355.15.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.3 percent. Even the market breadth was positive as about 1049 shares advanced against 861 declining shares on the Bombay Stock Exchange. 

 

UltraTech Cement touched a record high of Rs 3,600 intraday in opening but came off day's high on profit booking. The company finalised acquisition of 21.2 MTPA cement capacity of Jaiprakash Associates for Rs 16,189 crore. JP Associates rallied 35 percent. Meanwhile, there will be announcement of cabinet reshuffle today.

As many as 19 new ministers, half a dozen of them from Uttar Pradesh which goes to polls in 2017, are set to be inducted into his team by Prime Minister Narendra Modi.

According to sources, the expansion-cum-reshuffle being carried out by Modi is also expected to see elevation of at least one minister to Cabinet rank. Some of the 19 new ministers are expected to get Independent charge, the sources said.

 

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Today Rupee opens at 67.23 per Dollar ; up 9 paisa At Currency Market

Today Rupee opens at 67.23 per Dollar ; up 9 paisa At Currency Market

The Indian rupee gained in the early trade on Monday. It has opened higher by 9 paisa at 67.23 per dollar versus 67.32 Friday.

"Trading range for the day will be 67-67.50/dollar," he said. Dollar fell against the euro on Friday due to reduced expectations of a US interest-rate hike this year.

US DOLLAR INDEX (USD) 

Last week’s trading session for the American currency was pretty volatile owing to mixed events. I t rose by 0.1 percent in the last week. Economic data releases such as the GDP, consumer and manufacturing data from the nation came on a good note. This calmed the jittery markets which shredded around $3 trillion in value post Britain’s vote out. Moreover, Bank of England governor, Mark Carney on 1st July’16 sent strong hints that the bank will likely cut interest rates by Aug’16 and even expand the quantitative easing  programme. However, sharp upside was restricted after Federal Reserve Bank of St. Lou is President James Bullard re - emphasized on a single rate hike for the foreseeable future. Bullard said he expects to see annual GDP and inflation growth of 2%, along with slight interest rate increases through 2018.

OUTLOOK

From the intra - day perspective, Rupee is likely to appreciate as positive trading in the Asian market equities will govern the trend of the Indian markets and its currency.

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