ANI
29 Sep 2022, 10:48 GMT+10
Mumbai [India], September 29 (ANI): The benchmark indices on stock equity markets snapped the six-day losing streak and opened higher during early trade on Thursday. Key indices Nifty50 rose 150 points to breach 17,000 level and the SP BSE Sensex was up 399 points to trade at 57, 149.
Some of the gainers in the early trade are Tata Chemicals, Century Enka, Forbes, Aptech and Sreeleathers. Some of the losers are Asian Paints, Welspun India, Jaiprakash Associates and ITI.
Broader markets outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices surged over 1 per cent each. Nifty Bank rose 1.07 per cent to 38,162.
Market participants are looking forward to the outcome of the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting on Friday for further cues. The MPC started deliberations on the keenly awaited monetary policy amidst expectations of a 50 basis points hike in interest rate to check inflation and improve foreign capital inflow to arrest rupee depreciation against the US dollar.
The RBI is expected to hike its policy rate by 50 basis points for the third time in a row as the rupee's plunge to a record low complicates the battle against inflation.
Indian rupee strengthened against dollar in the morning trade as expected. The Bank of England's decision to buy long-dated British bonds prompted a pullback in Treasury yields and the dollar index. The local currency closed at 81.94 versus dollar on Wednesday.
Sugandha Sachdeva, vice-president for commodity and currency research, Religare Broking, said most of the Asian currencies, including the local unit, are reeling under pressure amid the monetary tightening campaign in the West and concerns about a global economic slowdown. Limited intervention by the RBI amid declining forex reserves is also leading to the current bout of selling spree witnessed in the Indian rupee. (ANI)Get a daily dose of International Travel News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.
More InformationFRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
Kathmandu [Nepal], July 5 (ANI): The Nagarik Unmukti Party has decided to walk out of the ruling alliance led by Nepal Prime Minister...
HAIKOU, July 5 (Xinhua) -- Nestled in the coastal town of Boao in south China's Hainan Province, the Boao Lecheng International Medical...
* China's first LEGOLAND resort opened on Saturday in Shanghai. * Spanning 318,000 square meters, LEGOLAND Shanghai Resort is the...
(250705) -- BOAO, July 5, 2025 (Xinhua) -- Canadian figure skating coach Mark Batka (C) experiences Chinese calligraphy at the Boao...