The BSE Sensex on Tuesday surged 297 points to went past the key 35,000-level, continuing its winning-run for the third straight day amid optimism ahead of quarterly earnings from heavyweights and recovery in the rupee.

Meanwhile, the rupee strengthened by 25 paise to 73.58 (intra-day) against the US dollar in the forex market.

Besides, easing global crude prices and positive cues from Asian markets and a higher opening in european shares too fuelled the rally. Brent was trading 0.25 per cent lower at USD 80.58 a barrel on Tuesday.

The 30-share Sensex stayed in the positive zone during the session and shuttled between 35,215.79 and 34,913.06, before settling 297.38 points or 0.85 per cent higher at 35,162.48.

The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75.

Companies like Infosys and Hero MotoCorp are slated to announce their financial results Tuesday.&nbsp;

Domestic institutional investors (DIIs) bought shares worth Rs 294.78 crore, while foreign institutional investors invested Rs 67.86 crore on Monday, as per provisional data issued by the stock exchanges.

The BSE Sensex on Tuesday surged 297 points to went past the key 35,000-level, continuing its winning-run for the third straight day amid optimism ahead of quarterly earnings from heavyweights and recovery in the rupee.

The BSE Sensex on Tuesday surged 297 points to went past the key 35,000-level, continuing its winning-run for the third straight day amid optimism ahead of quarterly earnings from heavyweights and recovery in the rupee. Meanwhile, the rupee strengthened by 25 paise to 73.58 (intra-day) against the US dollar in the forex market. Besides, easing global crude prices and positive cues from Asian markets and a higher opening in european shares too fuelled the rally. Brent was trading 0.25 per cent lower at USD 80.58 a barrel on Tuesday. The 30-share Sensex stayed in the positive zone during the session and shuttled between 35,215.79 and 34,913.06, before settling 297.38 points or 0.85 per cent higher at 35,162.48. The NSE Nifty after regaining the 10,600-mark hit a high of 10,604.90 on the back of widespread gains, and finally concluded 72.25 points or 0.69 per cent higher at 10,584.75. Companies like Infosys and Hero MotoCorp are slated to announce their financial results Tuesday. Domestic institutional investors (DIIs) bought shares worth Rs 294.78 crore, while foreign institutional investors invested Rs 67.86 crore on Monday, as per provisional data issued by the stock exchanges.

Sensex rises 300 points on earnings optimism

The BSE benchmark Sensex after reclaiming the 35,000-mark fell 71 points to quote at 34,662.73 Monday, as the IIP slipped to a three-month low in August and retail inflation rose marginally in September.

Besides, weak Asian cues on worries over China-Us trade dispute influenced sentiment.

The 30-share barometer pushed lower by 70.85 points, or 0.20 per cent, to 34,662.73. It opened higher and touched a high of 35,008.65. The gauge had climbed 732.43 points in the previous session on Friday.

Sectoral indices were negative across the board, with oil&amp;gas, auto, consumer durables, PSU, bankex, capital goods, metal, infrastructure and realty falling by up to 1.25 per cent.

The NSE index Nifty was trading lower by 21.85 points, or 0.21 per cent, at 10,450.65 after shuttling between 10,524.60 and 10,432.

Selling activity emerged after data released by Central Statistics Office (CSO) on Friday showed that industrial production slipped to a three-month low of 4.3 per cent in August, while retail inflation up marginally to 3.77 per cent in September.

Meanwhile, the rupee depreciated by 36 paise to 73.93 against the dollar in early trade after Brent crude again went past the USD 81 a barrel, which also dampened sentiments.

Hindustan Unilever, emerged top loser in the Sensex pack, falling 3.28 per cent, followed by ICICI Bank at 2.46 per cent.

Other big losers that dragged both the key indices were Maruti Suzuki, Axis Bank, L&amp;T, Bharti Airtel, Bajaj Auto, PowerGrid, Kotak Bank, Coal India, Adani Ports, Asian Paint, HDFC Ltd, SBI, Vedanta Ltd and Tata Steel.

However, stocks of Sun Pharma, ITC LGd, TCS, Infosys, RIL and Wipro were trading higher.

Foreign portfolio investors (FPIs) gave up shares worth a net of Rs 1,322 crore, while Domestic institutional investors (DIIs) remained net buyers, picking up shares worth a net of Rs 1,287 crore on Friday, provisional data showed.

Most other Asian markets too were down on trade war worries and surging crude prices following rising diplomatic tensions between Riyadh and the West.

Japan's Nikkei fell 1.39 per cent, Hong Kong's Hang Seng shed 1.30 per cent, Taiwan was down 1.10 per cent in their early deals. Shanghai Composite Index, however, was flat.

The US Dow Jones Industrial Average had closed 1.15 per cent higher on Friday.

The BSE benchmark Sensex after reclaiming the 35,000-mark fell 71 points to quote at 34,662.73 Monday, as the IIP slipped to a three-month low in August and retail inflation rose marginally in September.

The BSE benchmark Sensex after reclaiming the 35,000-mark fell 71 points to quote at 34,662.73 Monday, as the IIP slipped to a three-month low in August and retail inflation rose marginally in September. Besides, weak Asian cues on worries over China-Us trade dispute influenced sentiment. The 30-share barometer pushed lower by 70.85 points, or 0.20 per cent, to 34,662.73. It opened higher and touched a high of 35,008.65. The gauge had climbed 732.43 points in the previous session on Friday. Sectoral indices were negative across the board, with oil&gas, auto, consumer durables, PSU, bankex, capital goods, metal, infrastructure and realty falling by up to 1.25 per cent. The NSE index Nifty was trading lower by 21.85 points, or 0.21 per cent, at 10,450.65 after shuttling between 10,524.60 and 10,432. Selling activity emerged after data released by Central Statistics Office (CSO) on Friday showed that industrial production slipped to a three-month low of 4.3 per cent in August, while retail inflation up marginally to 3.77 per cent in September. Meanwhile, the rupee depreciated by 36 paise to 73.93 against the dollar in early trade after Brent crude again went past the USD 81 a barrel, which also dampened sentiments. Hindustan Unilever, emerged top loser in the Sensex pack, falling 3.28 per cent, followed by ICICI Bank at 2.46 per cent. Other big losers that dragged both the key indices were Maruti Suzuki, Axis Bank, L&T, Bharti Airtel, Bajaj Auto, PowerGrid, Kotak Bank, Coal India, Adani Ports, Asian Paint, HDFC Ltd, SBI, Vedanta Ltd and Tata Steel. However, stocks of Sun Pharma, ITC LGd, TCS, Infosys, RIL and Wipro were trading higher. Foreign portfolio investors (FPIs) gave up shares worth a net of Rs 1,322 crore, while Domestic institutional investors (DIIs) remained net buyers, picking up shares worth a net of Rs 1,287 crore on Friday, provisional data showed. Most other Asian markets too were down on trade war worries and surging crude prices following rising diplomatic tensions between Riyadh and the West. Japan's Nikkei fell 1.39 per cent, Hong Kong's Hang Seng shed 1.30 per cent, Taiwan was down 1.10 per cent in their early deals. Shanghai Composite Index, however, was flat. The US Dow Jones Industrial Average had closed 1.15 per cent higher on Friday.

Sensex slips 71 points on negative economic data, weak rupee

The benchmark BSE Sensex extended gains for the second straight day by surging about 132 points on Monday on sustained buying by domestic institutional investors despite disappointing macro-economic data and uninterrupted foreign fund outflows.

The NSE index Nifty ended above the 10,500-mark.

However, investor mood remained cautious due to fresh weakness in the rupee on rising crude oil prices and a subdued trend at other Asian markets, following worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and signs of tighter monetary policy by the US Federal Reserve.

The rupee again breached the 74-mark against the US dollar to quote at 74.05 (intra-day) in the forex market.

Brent crude, the international benchmark, was trading higher by 0.98 per cent, to US $81.79 per barrel.

Meanwhile, inflation based on wholesale prices rose to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel, according to data released Monday.

Industrial production slipped to a three-month low of 4.3 per cent in August, while retail inflation up marginally to 3.77 per cent in September, data released by Central Statistics Office (CSO) on Friday.&nbsp;

The 30-share barometer, which had gained 732.47 points, its biggest single day gain in 19 months on Friday, reclaimed the 35,000-mark to hit a high of 35,008.65 at the outset on sustained buying by DIIs but turned choppy and slipped into negative zone to touch a low of 34,559.98.

Finally, it settled 131.52 points, or 0.38 per cent, higher at 34,865.10, largely supported by gains in healthcare and information technology space.

On similar lines, the NSE Nifty was up by 40 points, or 0.38 per cent, at 10,512.50. Intra-day, it shuttled between 10,526.30-10,410.15.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 1,287 crore, while foreign portfolio investors (FPIs) sold shares to the tune of Rs 1,322 crore on Friday, as per provisional data.

The benchmark BSE Sensex extended gains for the second straight day by surging about 132 points on Monday on sustained buying by domestic institutional investors despite disappointing macro-economic data and uninterrupted foreign fund outflows.

The benchmark BSE Sensex extended gains for the second straight day by surging about 132 points on Monday on sustained buying by domestic institutional investors despite disappointing macro-economic data and uninterrupted foreign fund outflows. The NSE index Nifty ended above the 10,500-mark. However, investor mood remained cautious due to fresh weakness in the rupee on rising crude oil prices and a subdued trend at other Asian markets, following worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and signs of tighter monetary policy by the US Federal Reserve. The rupee again breached the 74-mark against the US dollar to quote at 74.05 (intra-day) in the forex market. Brent crude, the international benchmark, was trading higher by 0.98 per cent, to US $81.79 per barrel. Meanwhile, inflation based on wholesale prices rose to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel, according to data released Monday. Industrial production slipped to a three-month low of 4.3 per cent in August, while retail inflation up marginally to 3.77 per cent in September, data released by Central Statistics Office (CSO) on Friday. The 30-share barometer, which had gained 732.47 points, its biggest single day gain in 19 months on Friday, reclaimed the 35,000-mark to hit a high of 35,008.65 at the outset on sustained buying by DIIs but turned choppy and slipped into negative zone to touch a low of 34,559.98. Finally, it settled 131.52 points, or 0.38 per cent, higher at 34,865.10, largely supported by gains in healthcare and information technology space. On similar lines, the NSE Nifty was up by 40 points, or 0.38 per cent, at 10,512.50. Intra-day, it shuttled between 10,526.30-10,410.15. Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 1,287 crore, while foreign portfolio investors (FPIs) sold shares to the tune of Rs 1,322 crore on Friday, as per provisional data.

Sensex extends gains in choppy trade; up 132 points despite weak macro data

The BSE benchmark Sensex staged a strong comeback by recovering over 600 points in opening trade Friday following fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, fall in global crude prices and rupee recovery.

Positive leads from most other Asian markets too fuelled the uptrend.

The 30-share Sensex climbed 639.80 points, or 1.88 per cent, to 34,640.95 with all the sectoral indices trading in the positive zone.

The gauge had plummeted over 750 points to end at a six-month low.

The NSE Nifty was trading above the 10,400-mark, up 174.30 points, or 1.70 per cent, at 10,408.95.

Meanwhile, the rupee strengthened by 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Brokers said besides rupee recovery, built-up of positions by investors ahead of index of industrial production (IIP) numbers for August and inflation data for September - to be released later in the day - too impacted investor sentiment here.

In the Sensex pack, prominent gainers were M&amp;M, Yes Bank, Maruti Suzuki, Adani Ports, IndusInd Bank, Vedanta, Asian Paints, RIL, Tata Steel, ICICI Bank, ITC, Hero MotoCorp, Coal India, Axis Bank, Kotak Bank, HDFC Bank, Sun Pharma, HDFC and Bajaj Auto, rising up to 4.08 per cent.

However, shares of country's largest software exporter TCS fell 2.13 per cent even after the company Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September 2018 quarter.

Shares of oil marketing companies such as HPCL, BPCL and IOC remained strong and rose further by up to 5.33 per cent on falling global crude oil prices.

Brent crude, the international benchmark, fell 3 per cent to quote at USD 80.37 a barrel. 
Stocks of Aviation companies - Spicejet, InterGlobe and Jet Airways - too were in better shape, rising up to 5.02 per cent, supported by falling crude prices.

Domestic institutional investors (DIIs) made purchases worth a net of Rs 1,888 crore Thursday, provisional data showed.

Elsewhere in Asia, Hong Kong's Hang Seng was up 1.11 per cent, Singapore rose 0.18 per cent, and Taiwan gained 1.17 per cent in their late morning deals. However, Japan's Nikkei was down 0.25 per cent and the Shanghai Composite Index shed 0.12 per cent.

The US Dow Jones Industrial Average fell over 2 per cent in Thursday's trade.&nbsp;

The BSE benchmark Sensex staged a strong comeback by recovering over 600 points in opening trade Friday following fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, fall in global crude prices and rupee recovery.

The BSE benchmark Sensex staged a strong comeback by recovering over 600 points in opening trade Friday following fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, fall in global crude prices and rupee recovery. Positive leads from most other Asian markets too fuelled the uptrend. The 30-share Sensex climbed 639.80 points, or 1.88 per cent, to 34,640.95 with all the sectoral indices trading in the positive zone. The gauge had plummeted over 750 points to end at a six-month low. The NSE Nifty was trading above the 10,400-mark, up 174.30 points, or 1.70 per cent, at 10,408.95. Meanwhile, the rupee strengthened by 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased. Brokers said besides rupee recovery, built-up of positions by investors ahead of index of industrial production (IIP) numbers for August and inflation data for September - to be released later in the day - too impacted investor sentiment here. In the Sensex pack, prominent gainers were M&M, Yes Bank, Maruti Suzuki, Adani Ports, IndusInd Bank, Vedanta, Asian Paints, RIL, Tata Steel, ICICI Bank, ITC, Hero MotoCorp, Coal India, Axis Bank, Kotak Bank, HDFC Bank, Sun Pharma, HDFC and Bajaj Auto, rising up to 4.08 per cent. However, shares of country's largest software exporter TCS fell 2.13 per cent even after the company Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September 2018 quarter. Shares of oil marketing companies such as HPCL, BPCL and IOC remained strong and rose further by up to 5.33 per cent on falling global crude oil prices. Brent crude, the international benchmark, fell 3 per cent to quote at USD 80.37 a barrel. Stocks of Aviation companies - Spicejet, InterGlobe and Jet Airways - too were in better shape, rising up to 5.02 per cent, supported by falling crude prices. Domestic institutional investors (DIIs) made purchases worth a net of Rs 1,888 crore Thursday, provisional data showed. Elsewhere in Asia, Hong Kong's Hang Seng was up 1.11 per cent, Singapore rose 0.18 per cent, and Taiwan gained 1.17 per cent in their late morning deals. However, Japan's Nikkei was down 0.25 per cent and the Shanghai Composite Index shed 0.12 per cent. The US Dow Jones Industrial Average fell over 2 per cent in Thursday's trade.

Sensex recovers over 600 points ahead of key macro data, Nifty reclaims 10,400

A day after the bloodbath in global markets, BSE Sensex on Thursday opened on a positive note, &nbsp;up by 465 points at 34,468.29. Nifty, on the other hand, registered a spike of 205.75 points at 10,440.45.

The gains came a day after massive slides in globals markets.&nbsp;

Meanwhile, continuing its recovery, the rupee&nbsp;strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency.

Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market.

Across the globe, share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in months, as fears over rising US Treasury yields sparked a broad sell-off of risky assets.

Indian shares ended lower on Thursday at their lowest closing level since April.&nbsp;

The NSE Nifty plunged as much as 3.07 per cent to 10,138.60. It closed down 2.2 per cent at 10,234.65.

Japan's Nikkei fell 3.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value.

Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 per cent.

A day after the bloodbath in global markets, BSE Sensex on Thursday opened on a positive note, up by 465 points at 34,468.29. Nifty, on the other hand, registered a spike of 205.

A day after the bloodbath in global markets, BSE Sensex on Thursday opened on a positive note, up by 465 points at 34,468.29. Nifty, on the other hand, registered a spike of 205.75 points at 10,440.45. The gains came a day after massive slides in globals markets. Meanwhile, continuing its recovery, the rupee strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency. Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market. Across the globe, share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in months, as fears over rising US Treasury yields sparked a broad sell-off of risky assets. Indian shares ended lower on Thursday at their lowest closing level since April. The NSE Nifty plunged as much as 3.07 per cent to 10,138.60. It closed down 2.2 per cent at 10,234.65. Japan's Nikkei fell 3.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value. Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 per cent.

Markets open in green, Sensex up by 465 points; rupee strengthens 38 paise

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency.

Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market.

Forex dealers said a higher opening in the equity market also supported the rupee's sentiment.

The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar.

Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade. 
&nbsp;

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency. Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market. Forex dealers said a higher opening in the equity market also supported the rupee's sentiment. The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar. Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade.

Rupee strengthens 38 paise against US dollar

Indian markets on Thursday opened in red with BSE Sensex tumbling over 900 in morning trade. Shortly after opening, Sensex tumbled around 1000 points, trading at 33,918.29 at 9.30am.

Nifty, on the other hand, dipped by 290.3 points at 10,169.80 in opening trade today.&nbsp;

Indian rupee hit&nbsp;a new low of 74.47 versus the US dollar.&nbsp;

Indian equities ended more than 1 per cent higher on Wednesday with shares of non-banking financial companies staging a recovery, while IT stocks closed lower as the rupee strengthened against the US dollar.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Sensex opens with a fall of more than 980 points, currently at 33,774.89 <a href="https://t.co/8s8goaeKAb">pic.twitter.com/8s8goaeKAb</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1050232295318331392?ref_src=twsrc%5Etfw">October 11, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The benchmark BSE Sensex closed up 1.35 per cent at 34,760.89.

The broader NSE Nifty ended 1.54 per cent higher at 10,460.10.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Indian Rupee hits a new low of 74.47 versus the US Dollar <a href="https://t.co/zSnUsJqPaQ">pic.twitter.com/zSnUsJqPaQ</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1050233072585719819?ref_src=twsrc%5Etfw">October 11, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Meanwhile, Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe, news agency Reuters reported.&nbsp;

Japan's Nikkei fell 3.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value.

Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 per cent.

On Wall Street, the S&amp;P500's sharpest one-day fall since February wiped out around $850 billion of wealth as technology shares tumbled on fears of slowing demand.

Oil prices skidded in line with US equity markets, even though energy traders worried about shrinking Iranian supply from US sanctions and kept an eye on Hurricane Michael, which closed some US Gulf of Mexico oil output.

Brent crude fell 76 cents to $82.33 a barrel, while US crude dropped 68 cents to $72.49.

(With inputs from Reuters)&nbsp; 
&nbsp;

Indian markets on Thursday opened in red with BSE Sensex tumbling over 900 in morning trade. Shortly after opening, Sensex tumbled around 1000 points, trading at 33,918.

Indian markets on Thursday opened in red with BSE Sensex tumbling over 900 in morning trade. Shortly after opening, Sensex tumbled around 1000 points, trading at 33,918.29 at 9.30am. Nifty, on the other hand, dipped by 290.3 points at 10,169.80 in opening trade today. Indian rupee hit a new low of 74.47 versus the US dollar. Indian equities ended more than 1 per cent higher on Wednesday with shares of non-banking financial companies staging a recovery, while IT stocks closed lower as the rupee strengthened against the US dollar. Sensex opens with a fall of more than 980 points, currently at 33,774.89 pic.twitter.com/8s8goaeKAb — ANI (@ANI) October 11, 2018 × The benchmark BSE Sensex closed up 1.35 per cent at 34,760.89. The broader NSE Nifty ended 1.54 per cent higher at 10,460.10. Indian Rupee hits a new low of 74.47 versus the US Dollar pic.twitter.com/zSnUsJqPaQ — ANI (@ANI) October 11, 2018 × Meanwhile, Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe, news agency Reuters reported. Japan's Nikkei fell 3.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value. Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 per cent. On Wall Street, the S&P500's sharpest one-day fall since February wiped out around $850 billion of wealth as technology shares tumbled on fears of slowing demand. Oil prices skidded in line with US equity markets, even though energy traders worried about shrinking Iranian supply from US sanctions and kept an eye on Hurricane Michael, which closed some US Gulf of Mexico oil output. Brent crude fell 76 cents to $82.33 a barrel, while US crude dropped 68 cents to $72.49. (With inputs from Reuters)

Sensex slumps 1000 points in morning trade, Rupee hits new low of 74.47

BSE Sensex on Wednesday opened on a positive note up by 193.74 points at &nbsp;34,493.21. Nifty, on the other hand, registered a spike of 30.80 points, or 0.30 per cent, at 10,331.85 in morning trade today.&nbsp;

Meanwhile, <a href="http://www.wionews.com/business-economy/diesel-price-up-by-rs-024-in-delhi-at-rs-7435-petrol-remains-unchanged-170537">petrol prices in Mumbai and the national capital remained unchanged</a> on Wednesday after a series of relentless rise over the past few weeks.

Diesel, however, rose to Rs 74.35 per litre, increased by Rs 0.24 per litre, in Delhi and Rs 77.93, up by Rs 0.25 per litre, in Mumbai today.&nbsp;

Indian shares ended lower on Tuesday at their lowest closing level since April, with market heavyweight Tata Motors Ltd dragging down the indexes amid weak global cues, news agency Reuters reported.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Sensex at 34,493.21, up by 193.74 points. Nifty at 10,331.65, up by 30.60 points.
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1049868841231282179?ref_src=twsrc%5Etfw">October 10, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The benchmark BSE Sensex closed down 0.51 per cent at 34,299.47. The broader NSE Nifty ended 0.45 per cent lower at 10,301.05 yesterday.

The national currency on Tuesday slumped 33 paise to close at record low of 74.39.

BSE Sensex on Wednesday opened on a positive note up by 193.74 points at 34,493.21. Nifty, on the other hand, registered a spike of 30.80 points, or 0.30 per cent, at 10,331.

BSE Sensex on Wednesday opened on a positive note up by 193.74 points at 34,493.21. Nifty, on the other hand, registered a spike of 30.80 points, or 0.30 per cent, at 10,331.85 in morning trade today. Meanwhile, petrol prices in Mumbai and the national capital remained unchanged on Wednesday after a series of relentless rise over the past few weeks. Diesel, however, rose to Rs 74.35 per litre, increased by Rs 0.24 per litre, in Delhi and Rs 77.93, up by Rs 0.25 per litre, in Mumbai today. Indian shares ended lower on Tuesday at their lowest closing level since April, with market heavyweight Tata Motors Ltd dragging down the indexes amid weak global cues, news agency Reuters reported. Sensex at 34,493.21, up by 193.74 points. Nifty at 10,331.65, up by 30.60 points. — ANI (@ANI) October 10, 2018 × The benchmark BSE Sensex closed down 0.51 per cent at 34,299.47. The broader NSE Nifty ended 0.45 per cent lower at 10,301.05 yesterday. The national currency on Tuesday slumped 33 paise to close at record low of 74.39.

Markets open in green, Sensex up by close to 195 points

Markets staged a strong comeback Wednesday after the recent rout as investors started accumulating battered financials, auto and metal stocks amid the rupee recovering from record lows.

The BSE Sensex, after a gap up opening at 34,493.21, rallied to hit a high of 34,858.35 before concluding 461.42 points, or 1.35 per cent higher at 34,760.89.

The broader Nifty too reclaimed the key 10,400 mark. It touched a high of 10,482.35, before finally settling at 10,460.10, showing a significant gain of 159.05 points, or 1.54 per cent.

Key indices stayed in the positive terrain through the session as buying activity gathered momentum.&nbsp;

The Sensex had lost nearly 175 points Tuesday as the rupee plunged to a record low amid unabated capital outflows by foreign funds.

Sentiment also got a lift after the SBI, coming to the rescue of cash-strapped NBFCs, decided Tuesday to buy their assets to the tune of Rs 45,000 crore, a move that will provide liquidity support to non-banking financing companies facing headwinds after a series of loan defaults by IL&amp;FS group firms.

RBI's decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet festive season demand for funds also boosted the sentiment here, market watchers said.

The rupee recovered by 34 paise to 74.05 (intra-day) against the dollar at the forex market Wednesday.

Selling also halted at emerging markets after the dollar turned weak from seven-week highs and steady crude oil prices also positively impacted sentiment.

Meanwhile, Brent crude, the international benchmark, was hovering around USD 84.30 a barrel.

Domestic institutional investors (DIIs) were net buyers as they bought shares worth Rs 1,526 crore Tuesday while foreign portfolio investors (FPIs) offloaded equities amounting to Rs 1,242 crore, provisional data showed.

Benchmarks largely benefited from value buying in beaten-down stocks, led by Maruti Suzuki, Tata Steel, Yes Bank and SBI amid a better trend at other Asian markets, traders said.&nbsp;

Markets staged a strong comeback Wednesday after the recent rout as investors started accumulating battered financials, auto and metal stocks amid the rupee recovering from record lows.

Markets staged a strong comeback Wednesday after the recent rout as investors started accumulating battered financials, auto and metal stocks amid the rupee recovering from record lows. The BSE Sensex, after a gap up opening at 34,493.21, rallied to hit a high of 34,858.35 before concluding 461.42 points, or 1.35 per cent higher at 34,760.89. The broader Nifty too reclaimed the key 10,400 mark. It touched a high of 10,482.35, before finally settling at 10,460.10, showing a significant gain of 159.05 points, or 1.54 per cent. Key indices stayed in the positive terrain through the session as buying activity gathered momentum. The Sensex had lost nearly 175 points Tuesday as the rupee plunged to a record low amid unabated capital outflows by foreign funds. Sentiment also got a lift after the SBI, coming to the rescue of cash-strapped NBFCs, decided Tuesday to buy their assets to the tune of Rs 45,000 crore, a move that will provide liquidity support to non-banking financing companies facing headwinds after a series of loan defaults by IL&FS group firms. RBI's decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet festive season demand for funds also boosted the sentiment here, market watchers said. The rupee recovered by 34 paise to 74.05 (intra-day) against the dollar at the forex market Wednesday. Selling also halted at emerging markets after the dollar turned weak from seven-week highs and steady crude oil prices also positively impacted sentiment. Meanwhile, Brent crude, the international benchmark, was hovering around USD 84.30 a barrel. Domestic institutional investors (DIIs) were net buyers as they bought shares worth Rs 1,526 crore Tuesday while foreign portfolio investors (FPIs) offloaded equities amounting to Rs 1,242 crore, provisional data showed. Benchmarks largely benefited from value buying in beaten-down stocks, led by Maruti Suzuki, Tata Steel, Yes Bank and SBI amid a better trend at other Asian markets, traders said.

Markets stage relief rally; banking, auto stocks lead

Indian markets on Tuesday opened in green with Sensex reaching 34,651.82 in opening trade, up by 126.94 or 0.37 per cent. Nifty, on the other hand, opened at 10,390.30, 36.15 points, or 0.35 per cent up from yesterday's closing.&nbsp;

Indian shares snapped three sessions of losses and ended higher on Monday, after swinging between gains and losses through the day, as oil marketing companies continued to drive gains, while metal and some non-banking financial stocks dragged the investor sentiment.

While the benchmark BSE Sensex closed up 0.28 per cent at 34,474.38, the broader NSE Nifty ended 0.31 per cent higher at 10,348.05, news agency Reuters reported.

Meanwhile, <a href="http://www.wionews.com/business-economy/fuel-prices-rise-again-petrol-sells-at-rs-8226-per-litre-in-delhi-170311">fuel prices in the country continued to rise</a> on the second straight day of the week on Tuesday.&nbsp;

Petrol and diesel prices in the country went up again for the second straight day in a week on Tuesday. Petrol price in the national capital rose to Rs 82.26 per litre, increased by Rs 0.23, while diesel prices amounted to Rs 74.11, up by Rs 0.29 in Delhi today.

In Mumbai, petrol will be sold for Rs 87.73 per litre today, while diesel is priced at Rs 77.68 per litre.

The government on Saturday assured investors that it would not go back to regulating fuel prices, soothing market frenzy after it announced a 2.50-rupee cut in gasoline and diesel rates on Thursday.

&nbsp; &nbsp;&nbsp;

Indian markets on Tuesday opened in green with Sensex reaching 34,651.82 in opening trade, up by 126.94 or 0.37 per cent. Nifty, on the other hand, opened at 10,390.

Indian markets on Tuesday opened in green with Sensex reaching 34,651.82 in opening trade, up by 126.94 or 0.37 per cent. Nifty, on the other hand, opened at 10,390.30, 36.15 points, or 0.35 per cent up from yesterday's closing. Indian shares snapped three sessions of losses and ended higher on Monday, after swinging between gains and losses through the day, as oil marketing companies continued to drive gains, while metal and some non-banking financial stocks dragged the investor sentiment. While the benchmark BSE Sensex closed up 0.28 per cent at 34,474.38, the broader NSE Nifty ended 0.31 per cent higher at 10,348.05, news agency Reuters reported. Meanwhile, fuel prices in the country continued to rise on the second straight day of the week on Tuesday. Petrol and diesel prices in the country went up again for the second straight day in a week on Tuesday. Petrol price in the national capital rose to Rs 82.26 per litre, increased by Rs 0.23, while diesel prices amounted to Rs 74.11, up by Rs 0.29 in Delhi today. In Mumbai, petrol will be sold for Rs 87.73 per litre today, while diesel is priced at Rs 77.68 per litre. The government on Saturday assured investors that it would not go back to regulating fuel prices, soothing market frenzy after it announced a 2.50-rupee cut in gasoline and diesel rates on Thursday.

Markets open in green, Sensex up by 126.94 points at 34,651.82

Key equity indices Sensex and Nifty opened lower on Monday.The markets opened in red with the Sensex witnessing a fall of 36 points to open at 34412.

At 9:20 am, Sensex was at 34198.67, down 178.32 points and Nifty 50 at 10260.35, down 56.10 points.

Meanwhile, Rupee opens lower at 73.96 per dollar.&nbsp;

At 9:15 am, Rupee trades at 73.88 per dollar as against the previous close of 73.76 per Dollar.&nbsp;

The rupee is expected to remain under pressure weighed by a further rise in long-term US Treasuries following non-farm payroll data.

Key equity indices Sensex and Nifty opened lower on Monday.The markets opened in red with the Sensex witnessing a fall of 36 points to open at 34412. At 9:20 am, Sensex was at 34198.

Key equity indices Sensex and Nifty opened lower on Monday.The markets opened in red with the Sensex witnessing a fall of 36 points to open at 34412. At 9:20 am, Sensex was at 34198.67, down 178.32 points and Nifty 50 at 10260.35, down 56.10 points. Meanwhile, Rupee opens lower at 73.96 per dollar. At 9:15 am, Rupee trades at 73.88 per dollar as against the previous close of 73.76 per Dollar. The rupee is expected to remain under pressure weighed by a further rise in long-term US Treasuries following non-farm payroll data.

Markets begin week on a negative note: Sensex at 34198, Nifty at 10260

In a highly volatile session, value-buying by investors in recently battered banking, oil &amp; gas and auto stocks reversed the three-session losing streak, helping the Sensex and Nifty to close on a positive note Monday.

The Sensex swung over 660 points both ways on alternate bouts of selling and buying.

The 30-share Sensex touched a high of 34,636.43 on the back of sustained buying by domestic institutional investors (DIIs), but later turned choppy and hit a low of 33,974.66 as selling pressure gathered momentum.

However, amid buying towards the fag-end, it recovered to close the day higher by 97.39 points, or 0.28 per cent, at 34,474.38.

The 30-scrip gauge had lost 2,149.15 points in the previous three straight sessions.

The 50-share NSE Nifty too recovered by 31.60 points, or 0.31 per cent, to end at 10,348.05. During the session, it moved between 10,198.40 and 10,398.35.

Besides value buying, covering-up of short positions by investors also aided the recovery in the market.

Meanwhile, global cues remained negative with Asian markets leading the sentiment. Chinese stocks, in their first trading day after a one-week holiday, tumbled even though

Beijing's central bank increased liquidity to offset the impact of an escalating trade dispute with the US.

China's central bank said on Sunday that it was cutting the reserve requirement rations (RRRs) by 1 per cent from October 15 which will inject a net USD 109.2 billion in cash into the banking system, amid a deepening trade war with the US that has increased pressure on growth in the world's second largest economy.

European markets too weakened in early session.

On a net basis, domestic institutional investors bought equities worth Rs 1,902.07 crore in the previous session Friday, while foreign funds sold shares worth a net of Rs 3,370.14 crore, provisional data showed.&nbsp;

In a highly volatile session, value-buying by investors in recently battered banking, oil & gas and auto stocks reversed the three-session losing streak, helping the Sensex and Nifty to close on a positive note Monday.

In a highly volatile session, value-buying by investors in recently battered banking, oil & gas and auto stocks reversed the three-session losing streak, helping the Sensex and Nifty to close on a positive note Monday. The Sensex swung over 660 points both ways on alternate bouts of selling and buying. The 30-share Sensex touched a high of 34,636.43 on the back of sustained buying by domestic institutional investors (DIIs), but later turned choppy and hit a low of 33,974.66 as selling pressure gathered momentum. However, amid buying towards the fag-end, it recovered to close the day higher by 97.39 points, or 0.28 per cent, at 34,474.38. The 30-scrip gauge had lost 2,149.15 points in the previous three straight sessions. The 50-share NSE Nifty too recovered by 31.60 points, or 0.31 per cent, to end at 10,348.05. During the session, it moved between 10,198.40 and 10,398.35. Besides value buying, covering-up of short positions by investors also aided the recovery in the market. Meanwhile, global cues remained negative with Asian markets leading the sentiment. Chinese stocks, in their first trading day after a one-week holiday, tumbled even though Beijing's central bank increased liquidity to offset the impact of an escalating trade dispute with the US. China's central bank said on Sunday that it was cutting the reserve requirement rations (RRRs) by 1 per cent from October 15 which will inject a net USD 109.2 billion in cash into the banking system, amid a deepening trade war with the US that has increased pressure on growth in the world's second largest economy. European markets too weakened in early session. On a net basis, domestic institutional investors bought equities worth Rs 1,902.07 crore in the previous session Friday, while foreign funds sold shares worth a net of Rs 3,370.14 crore, provisional data showed.

Market ends in the green, breaks three-day losing streak

The BSE Sensex fell over 300 points Friday, extending its losing run for the third day, ahead of the RBI's bi-monthly policy meet outcome amid weak global cues.

The 30-share index after cracking the 35,000-mark by falling over 335 points to touch a low of 34,833.81, pared some losses to quote 194.44 points, or 0.55 per cent lower at 34,974.72.

It lost 1,356.98 points in the previous two sessions on rupee woes and boiling crude oil prices.

Sectoral indices led by oil and gas, PSU, infrastructure, auto and banking stocks cracked up to 10.27 per cent.

Stocks of state-run oil companies were under selling pressure as the government Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty by Rs 1.50 a litre and asked oil companies to absorb another Re 1.

Shares of BPCL, HPCL and IOC were trading sharply lower by up to 20.50 per cent on nervous selling by investors.

The NSE Nifty also dropped by 90.40 points, or 0.85 per cent, to 10,508.85.

Brokers said investors offloaded their positions, tracking a selloff in global markets as US Treasury surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation.

Besides, caution ahead of RBI's monetary policy announcement which expected to hike interest rates by 25 basis points, too, dented sentiments, they added.

Shares of ONGC, Bajaj auto, HUL, ITC, M&amp;M, RIL, Maruti Suzuki, Hero MotoCorp, Adani Ports, HDFC Bank, NTPC, Vedanta, HDFC, HDFC Bank, Tata Steel and Axis Bank tanked up to 11.27 per cent.

On the other hand, Sun Pharma, IndusInd Bank, Tata Motors, Infosys, Yes Bank, PowerGrid, TCS and Kotak Bank bucked market trend, and were trading in the green, rising up to 2 per cent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 2,760.63 crore Thursday, while domestic institutional investors (DIIs) bought shares worth a net Rs 1,823.59 crore, provisional data showed.

Among other Asian markets, Japan's Nikkei, Hong Kong's Hang Seng, Strait Times and Taiwan indices fell up to 1.73 per cent.

The US Dow Jones Industrial Average too ended lower Thursday.

The BSE Sensex fell over 300 points Friday, extending its losing run for the third day, ahead of the RBI's bi-monthly policy meet outcome amid weak global cues. The 30-share index after cracking the 35,000-mark by falling over 335 points to touch a low of 34,833.

The BSE Sensex fell over 300 points Friday, extending its losing run for the third day, ahead of the RBI's bi-monthly policy meet outcome amid weak global cues. The 30-share index after cracking the 35,000-mark by falling over 335 points to touch a low of 34,833.81, pared some losses to quote 194.44 points, or 0.55 per cent lower at 34,974.72. It lost 1,356.98 points in the previous two sessions on rupee woes and boiling crude oil prices. Sectoral indices led by oil and gas, PSU, infrastructure, auto and banking stocks cracked up to 10.27 per cent. Stocks of state-run oil companies were under selling pressure as the government Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty by Rs 1.50 a litre and asked oil companies to absorb another Re 1. Shares of BPCL, HPCL and IOC were trading sharply lower by up to 20.50 per cent on nervous selling by investors. The NSE Nifty also dropped by 90.40 points, or 0.85 per cent, to 10,508.85. Brokers said investors offloaded their positions, tracking a selloff in global markets as US Treasury surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation. Besides, caution ahead of RBI's monetary policy announcement which expected to hike interest rates by 25 basis points, too, dented sentiments, they added. Shares of ONGC, Bajaj auto, HUL, ITC, M&M, RIL, Maruti Suzuki, Hero MotoCorp, Adani Ports, HDFC Bank, NTPC, Vedanta, HDFC, HDFC Bank, Tata Steel and Axis Bank tanked up to 11.27 per cent. On the other hand, Sun Pharma, IndusInd Bank, Tata Motors, Infosys, Yes Bank, PowerGrid, TCS and Kotak Bank bucked market trend, and were trading in the green, rising up to 2 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 2,760.63 crore Thursday, while domestic institutional investors (DIIs) bought shares worth a net Rs 1,823.59 crore, provisional data showed. Among other Asian markets, Japan's Nikkei, Hong Kong's Hang Seng, Strait Times and Taiwan indices fell up to 1.73 per cent. The US Dow Jones Industrial Average too ended lower Thursday.

Sensex drops below 35,000-mark ahead of RBI policy outcome

Every monetary policy meeting gives rise to a debate over whether the RBI should increase interest rates. This time, too, it is not different as the external environment, equity markets, credit markets and the general sentiment are down. The rupee is falling, oil price is rising and stock markets are searching for a bottom.

Over the past few weeks, the whole financial system in India has been going through a turmoil. The upheaval was triggered by defaults at Infrastructure Leasing and Financial Services Ltd (IL&amp;FS), and other Non-Banking Financial Company (NBFC) and Housing Finance Companies (HFC). The Central government took prompt action by superseding the IL&amp;FS board and is trying hard to bring in a Satyam-like resolution to the problem. For the time being, the fear and rumours have been nipped in the bud.

IL&amp;FS was one of the largest Infrastructure lenders in the country and a default by it has disturbed the well-oiled Commercial Paper (CP) market. CP is a short-term financial instrument used by corporates to raise money from a few days to a year. Banks and mutual funds are main investors in CPs. The total outstanding CP issuance by all corporates as on September 15, 2018, is Rs 6,40,000 crore, out of which, more than 60 per cent is raised by NBFC and HFC. CP is a preferred mode of raising short-term money for companies as it offers lower interest rates when compared to banks interest rate for loans.

 
Post the IL&amp;FS default on their repayment of CP, large investors have withdrawn from the CP market. They are scared of further defaults and losing their investment. This has led to liquidity drying up for NBFC and HFCs. Now, why is it important that the CP markets remain well oiled? After 11 PSU banks were put under Prompt Corrective Action (PCA) by the RBI, there were further restrictions on these banks on new lending. This opened up the opportunity for NBFC and HFC to capture this market and bridge the need by corporates. After all the raw material for NBFC and HFC is ‘money’ and when the flow of money dries up so does the finished goods and, in this case, lending slows down by NBFC and HFC. Hence, even if the IL&amp;FS issue is sorted, it may take nearly a quarter for the investors to start lending again at the same pace as they were doing before the problem started. This will obviously slow down NBFCs growth and also credit flow into the economy.

Meanwhile, the Consumer Price Inflation (CPI) was at 3.69 per cent, which is well under the RBI’s targeted inflation rate of 4 per cent. It is remarkable that even after the increase in MSP and oil prices, the Consumer Price Inflation for March 2019 is expected to be around 4.70 per cent and for the full year average of 4.40 per cent to 4.50 per cent. This is within the stated range of inflation targeted by RBI. The CPI is expected to be low mainly due to low food inflation and MSP benefit being passed on to the farmer directly, thus as per the stated policy of keeping interest rates 2 per cent over the average CPI inflation has already been achieved.

While inflation is under control, the speed with which the Indian Rupee (INR) is falling against the dollar is a cause of concern. Countries like Turkey, Argentina and Indonesia have tried to address currency depreciation by hiking the interest rate and have failed miserably. Addressing the currency depreciation with interest rate hike is a very blunt tool. India’s currency woes need to be solved by taking more concrete steps toward containing the Current Account Deficit (CAD). But factors like crude prices are beyond the control of the India government. Though the steps taken by the government to reduce petrol and diesel prices by Rs 2.50 per litre are welcome, maybe it’s time to adopt new measures to curtail the overall fuel consumption through innovative means.

RBI has raised REPO rates twice this year from 6 per cent to 6.25 per cent in June and 6.50 per cent in August. By doing this RBI has moved along with the interest rate curve. The government securities market is extremely nervous and is already trading substantially higher to the long-term average spreads of 100 bps over Repo rate. The 10-year government security bond is being traded at 8.20 per cent which is a spread of 170 bps higher. This is an unusually high interest rate for a government to borrow from the market. The borrowing cost of the government is growing rapidly and high-interest rates can dent the future growth of the country. Even from real interest rate perspective, RBI is targeting a positive interest rate of 1.50 per cent to 2 per cent, whereas we are already in positive interest rate territory at 3.36 per cent as per the current bond rates pricing in the market.

In such a scenario it is time for the RBI to be bold and brave. The first steps taken by RBI towards resolving this situation was announcing Rs 36,000 crore of open market operations (ie, buying government bonds from open market). This basically helps in infusing much-needed liquidity into the debt markets. The money markets need assurances to soothe and calm the nerves of its investors so that liquidity can come back to these markets.

Government steps toward resolving IL&amp;FS and RBI’s Open Market Operation announcement is in the correct direction. Raising interest rates after two consecutive rate hikes may not be an effective way to stop the rupee from depreciating further. Especially when the inflation is not showing any signs of running away. However, by keeping the interest rates steady and a neutral liquidity position with a bias towards easy liquidity when the markets require it, may help the markets to calm down its nerves, along with removing some of the PCA restrictions on PSU banks could keep the financial engine chugging. 
 
 
(The author is the promoter-director of Sunidhi Securities &amp; Finance Ltd)

(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-markets-need-rbi-s-assurance-2671660">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

 
&nbsp;

Every monetary policy meeting gives rise to a debate over whether the RBI should increase interest rates. This time, too, it is not different as the external environment, equity markets, credit markets and the general sentiment are down.

Every monetary policy meeting gives rise to a debate over whether the RBI should increase interest rates. This time, too, it is not different as the external environment, equity markets, credit markets and the general sentiment are down. The rupee is falling, oil price is rising and stock markets are searching for a bottom. Over the past few weeks, the whole financial system in India has been going through a turmoil. The upheaval was triggered by defaults at Infrastructure Leasing and Financial Services Ltd (IL&FS), and other Non-Banking Financial Company (NBFC) and Housing Finance Companies (HFC). The Central government took prompt action by superseding the IL&FS board and is trying hard to bring in a Satyam-like resolution to the problem. For the time being, the fear and rumours have been nipped in the bud. IL&FS was one of the largest Infrastructure lenders in the country and a default by it has disturbed the well-oiled Commercial Paper (CP) market. CP is a short-term financial instrument used by corporates to raise money from a few days to a year. Banks and mutual funds are main investors in CPs. The total outstanding CP issuance by all corporates as on September 15, 2018, is Rs 6,40,000 crore, out of which, more than 60 per cent is raised by NBFC and HFC. CP is a preferred mode of raising short-term money for companies as it offers lower interest rates when compared to banks interest rate for loans. Post the IL&FS default on their repayment of CP, large investors have withdrawn from the CP market. They are scared of further defaults and losing their investment. This has led to liquidity drying up for NBFC and HFCs. Now, why is it important that the CP markets remain well oiled? After 11 PSU banks were put under Prompt Corrective Action (PCA) by the RBI, there were further restrictions on these banks on new lending. This opened up the opportunity for NBFC and HFC to capture this market and bridge the need by corporates. After all the raw material for NBFC and HFC is ‘money’ and when the flow of money dries up so does the finished goods and, in this case, lending slows down by NBFC and HFC. Hence, even if the IL&FS issue is sorted, it may take nearly a quarter for the investors to start lending again at the same pace as they were doing before the problem started. This will obviously slow down NBFCs growth and also credit flow into the economy. Meanwhile, the Consumer Price Inflation (CPI) was at 3.69 per cent, which is well under the RBI’s targeted inflation rate of 4 per cent. It is remarkable that even after the increase in MSP and oil prices, the Consumer Price Inflation for March 2019 is expected to be around 4.70 per cent and for the full year average of 4.40 per cent to 4.50 per cent. This is within the stated range of inflation targeted by RBI. The CPI is expected to be low mainly due to low food inflation and MSP benefit being passed on to the farmer directly, thus as per the stated policy of keeping interest rates 2 per cent over the average CPI inflation has already been achieved. While inflation is under control, the speed with which the Indian Rupee (INR) is falling against the dollar is a cause of concern. Countries like Turkey, Argentina and Indonesia have tried to address currency depreciation by hiking the interest rate and have failed miserably. Addressing the currency depreciation with interest rate hike is a very blunt tool. India’s currency woes need to be solved by taking more concrete steps toward containing the Current Account Deficit (CAD). But factors like crude prices are beyond the control of the India government. Though the steps taken by the government to reduce petrol and diesel prices by Rs 2.50 per litre are welcome, maybe it’s time to adopt new measures to curtail the overall fuel consumption through innovative means. RBI has raised REPO rates twice this year from 6 per cent to 6.25 per cent in June and 6.50 per cent in August. By doing this RBI has moved along with the interest rate curve. The government securities market is extremely nervous and is already trading substantially higher to the long-term average spreads of 100 bps over Repo rate. The 10-year government security bond is being traded at 8.20 per cent which is a spread of 170 bps higher. This is an unusually high interest rate for a government to borrow from the market. The borrowing cost of the government is growing rapidly and high-interest rates can dent the future growth of the country. Even from real interest rate perspective, RBI is targeting a positive interest rate of 1.50 per cent to 2 per cent, whereas we are already in positive interest rate territory at 3.36 per cent as per the current bond rates pricing in the market. In such a scenario it is time for the RBI to be bold and brave. The first steps taken by RBI towards resolving this situation was announcing Rs 36,000 crore of open market operations (ie, buying government bonds from open market). This basically helps in infusing much-needed liquidity into the debt markets. The money markets need assurances to soothe and calm the nerves of its investors so that liquidity can come back to these markets. Government steps toward resolving IL&FS and RBI’s Open Market Operation announcement is in the correct direction. Raising interest rates after two consecutive rate hikes may not be an effective way to stop the rupee from depreciating further. Especially when the inflation is not showing any signs of running away. However, by keeping the interest rates steady and a neutral liquidity position with a bias towards easy liquidity when the markets require it, may help the markets to calm down its nerves, along with removing some of the PCA restrictions on PSU banks could keep the financial engine chugging. (The author is the promoter-director of Sunidhi Securities & Finance Ltd) (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Markets need RBI’s assurance

The BSE Sensex fell 792.17 points today to close below the 35,000 mark and the NSE Nifty went down 282.80 points to close at 10,316.50 after&nbsp;the Reserve Bank of India(RBI) in a surprise move kept key rates unchanged.

<a href="http://www.wionews.com/business-economy/rbi-keeps-policy-rate-unchanged-in-surprise-move-169622">Also Read:&nbsp;RBI keeps policy rate unchanged in surprise move</a>

At one point, the Sensex had fallen over 900 points while going down&nbsp;300 points in the morning session extending its losing streak for the third straight day on Friday.

In the end, the Sensex closed&nbsp;at 34,376.99&nbsp;down 2.25 per cent and the Nifty&nbsp;fell 282.80 points or 2.67 per cent to close at 10,316.50.

Banking stocks HDFC, Yes Bank and ICICI Bank crashed with Reliance Industries falling over six per cent. Finance companies also experienced huge falls with Bajaj Finance, Indiabulls Housing Finance and DHFL going down over nine per cent.

RBI's monetary policy also affected the Rupee with the Indian currency falling&nbsp;below the 74-level against the US dollar for the first time ever.

The domestic currency was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.

The BSE Sensex fell 792.17 points today to close below the 35,000 mark and the NSE Nifty went down 282.80 points to close at 10,316.50 after the Reserve Bank of India(RBI) in a surprise move kept key rates unchanged.

The BSE Sensex fell 792.17 points today to close below the 35,000 mark and the NSE Nifty went down 282.80 points to close at 10,316.50 after the Reserve Bank of India(RBI) in a surprise move kept key rates unchanged. Also Read: RBI keeps policy rate unchanged in surprise move At one point, the Sensex had fallen over 900 points while going down 300 points in the morning session extending its losing streak for the third straight day on Friday. In the end, the Sensex closed at 34,376.99 down 2.25 per cent and the Nifty fell 282.80 points or 2.67 per cent to close at 10,316.50. Banking stocks HDFC, Yes Bank and ICICI Bank crashed with Reliance Industries falling over six per cent. Finance companies also experienced huge falls with Bajaj Finance, Indiabulls Housing Finance and DHFL going down over nine per cent. RBI's monetary policy also affected the Rupee with the Indian currency falling below the 74-level against the US dollar for the first time ever. The domestic currency was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.

Sensex crashes 792 points to close below 35,000 mark; Nifty tanks 282 points

The bloodbath in Indian markets continued on Friday as the Sensex fell more than 900 points after a monetrary policy review by the Reserve Bank of India where the central bank of India kept key rates unchanged.

Minutes before closing, the Sensex was trading at 34,267.

The Sensex had fell over 300 points in the morning session, extending its losing run for the third day, amid weak global cues.

It lost 1,356.98 points in the previous two sessions on rupee woes and boiling crude oil prices.

Sectoral indices led by oil and gas, PSU, infrastructure, auto and banking stocks cracked up to 10.27 per cent.

The NSE Nifty also dropped by 90.40 points on Friday morning, or 0.85 per cent, to 10,508.85.

Shares in state-owned oil marketing companies slumped more than 20 percent to multi-year lows on Friday, after the government on Thursday announced a 2.50 rupees-per-litre cut in gasoline and diesel prices to reduce the burden on the Indian masses from all-time high prices at fuel pumps.

The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government. Petrol prices were regulated until 2012, while diesel prices remained so until 2014.

(With inputs from agencies)

The bloodbath in Indian markets continued on Friday as the Sensex fell more than 900 points after a monetrary policy review by the Reserve Bank of India where the central bank of India kept key rates unchanged.

The bloodbath in Indian markets continued on Friday as the Sensex fell more than 900 points after a monetrary policy review by the Reserve Bank of India where the central bank of India kept key rates unchanged. Minutes before closing, the Sensex was trading at 34,267. The Sensex had fell over 300 points in the morning session, extending its losing run for the third day, amid weak global cues. It lost 1,356.98 points in the previous two sessions on rupee woes and boiling crude oil prices. Sectoral indices led by oil and gas, PSU, infrastructure, auto and banking stocks cracked up to 10.27 per cent. The NSE Nifty also dropped by 90.40 points on Friday morning, or 0.85 per cent, to 10,508.85. Shares in state-owned oil marketing companies slumped more than 20 percent to multi-year lows on Friday, after the government on Thursday announced a 2.50 rupees-per-litre cut in gasoline and diesel prices to reduce the burden on the Indian masses from all-time high prices at fuel pumps. The price cut sparked fears of the country going back toward the regulated regime where the prices of diesel and petrol were controlled by the government. Petrol prices were regulated until 2012, while diesel prices remained so until 2014. (With inputs from agencies)

Sensex down over 900 points, trading below 35,000-mark

The rupee continued its slide against the dollar, hitting a new low of 73.77 early Thursday morning.&nbsp;

The Sensex crashed too in early morning trade.&nbsp;The Sensex had closed Wednesday at 35,975.&nbsp;

It opened Thursday at 35,820 but quickly crashed to a low of 35,341 in early morning trade — a fall of close to 500 points.&nbsp;

The Nifty meanwhile opened at 10,754 but dropped over 150 points in early morning trade.&nbsp;It had closed Wednesday at 10,858.&nbsp;

The rupee has been Asia's worst-performing currency, falling over 14% against the dollar this year.&nbsp;

There are a number of reasons for the fall.&nbsp;

The prices of crude have in general been rising — petrol in Mumbai is selling at over Rs 90 a litre; there have also been fears that crude oil prices could sometime soon touch $100 a barrel — &nbsp;and the US has been putting pressure on countries to stop buying oil from Iran.

India gets a chunk of its oil from Iran.&nbsp;

The rupee has also been rattled by the trade war started by Trump with China.&nbsp;

And China's yuan has fallen in recent&nbsp;months, leading to a dollar flight from developing economies, all of which make the dollar dearer, and the rupee less so.&nbsp;

The rupee continued its slide against the dollar, hitting a new low of 73.77 early Thursday morning. The Sensex crashed too in early morning trade. The Sensex had closed Wednesday at 35,975.

The rupee continued its slide against the dollar, hitting a new low of 73.77 early Thursday morning. The Sensex crashed too in early morning trade. The Sensex had closed Wednesday at 35,975. It opened Thursday at 35,820 but quickly crashed to a low of 35,341 in early morning trade — a fall of close to 500 points. The Nifty meanwhile opened at 10,754 but dropped over 150 points in early morning trade. It had closed Wednesday at 10,858. The rupee has been Asia's worst-performing currency, falling over 14% against the dollar this year. There are a number of reasons for the fall. The prices of crude have in general been rising — petrol in Mumbai is selling at over Rs 90 a litre; there have also been fears that crude oil prices could sometime soon touch $100 a barrel — and the US has been putting pressure on countries to stop buying oil from Iran. India gets a chunk of its oil from Iran. The rupee has also been rattled by the trade war started by Trump with China. And China's yuan has fallen in recent months, leading to a dollar flight from developing economies, all of which make the dollar dearer, and the rupee less so.

Rupee continues to slide against dollar, hits new low of 73.77

Investors became poorer by Rs 5 lakh crore in two days of stock market crash where the BSE benchmark index plummeted by 1,357 points.

Markets witnessed severe selling Thursday with the benchmark Sensex crashing over 806 points to end at 35,169.16 after the rupee crashed to a new life-time low and global crude oil price breached the USD 86 a barrel.

The gauge had lost 550.51 points Wednesday on rupee woes and surging crude oil prices.&nbsp;

Led by the sharp sell-off in equities, the market capitalisation of BSE-listed companies tumbled Rs 5,02,895.97 crore to Rs 1,40,39,742.92 crore (USD 1.90 trillion).

The dollar figure has been arrived at by calculating the m-cap from rupee's intra-day low of 73.81 Thursday.&nbsp;

With this, market capitalisation of BSE-listed firms slipped below the USD 2 trillion.

"The strongest of businesses and the bluest of blue chips have cracked in the last couple of sessions, which highlights the prevailing negative sentiment and an environment of pessimism. With the rupee hitting a record low, crude prices moving northwards, increasing fears of a broadening current account deficit along with the liquidity worries led to another major fall in the indices and broader markets.&nbsp;

"With deteriorating macros, all eyes will now be on the second quarter earnings and how the current liquidity situation is addressed," said Devang Mehta, Head ? Equity Advisory, Centrum Wealth Management.

The bloodbath on the bourses was primarily triggered by a continued slide in the rupee which hit yet another low of 73.81 (intra-day) against the dollar, brokers said. 
From the 30-share pack, 24 scrips declined, while 6 advanced.

RIL was the worst hit from the pack plunging 7.03 per cent followed by Hero MotoCorp 5.45 per cent and TCS 4.54 per cent.

In the broader market, the S&amp;P BSE midcap index fell by 1.93 per cent and smallcap index 2.07 per cent.

"Indian markets have been seeing a sharp sell-off on account of depreciation in rupee and higher crude prices. This negative sentiment was further reinforced by fears of liquidity crisis to support credit growth following the IL&amp;FS scare," said Nitasha Shankar, Sr Vice President and Head of Research, YES Securities.

Nearly 400 stocks hit their 52-week low on BSE Thursday.

At the BSE, 1,889 stocks declined, while 775 advanced and 138 remained unchanged.&nbsp;

Investors became poorer by Rs 5 lakh crore in two days of stock market crash where the BSE benchmark index plummeted by 1,357 points. Markets witnessed severe selling Thursday with the benchmark Sensex crashing over 806 points to end at 35,169.

Investors became poorer by Rs 5 lakh crore in two days of stock market crash where the BSE benchmark index plummeted by 1,357 points. Markets witnessed severe selling Thursday with the benchmark Sensex crashing over 806 points to end at 35,169.16 after the rupee crashed to a new life-time low and global crude oil price breached the USD 86 a barrel. The gauge had lost 550.51 points Wednesday on rupee woes and surging crude oil prices. Led by the sharp sell-off in equities, the market capitalisation of BSE-listed companies tumbled Rs 5,02,895.97 crore to Rs 1,40,39,742.92 crore (USD 1.90 trillion). The dollar figure has been arrived at by calculating the m-cap from rupee's intra-day low of 73.81 Thursday. With this, market capitalisation of BSE-listed firms slipped below the USD 2 trillion. "The strongest of businesses and the bluest of blue chips have cracked in the last couple of sessions, which highlights the prevailing negative sentiment and an environment of pessimism. With the rupee hitting a record low, crude prices moving northwards, increasing fears of a broadening current account deficit along with the liquidity worries led to another major fall in the indices and broader markets. "With deteriorating macros, all eyes will now be on the second quarter earnings and how the current liquidity situation is addressed," said Devang Mehta, Head ? Equity Advisory, Centrum Wealth Management. The bloodbath on the bourses was primarily triggered by a continued slide in the rupee which hit yet another low of 73.81 (intra-day) against the dollar, brokers said. From the 30-share pack, 24 scrips declined, while 6 advanced. RIL was the worst hit from the pack plunging 7.03 per cent followed by Hero MotoCorp 5.45 per cent and TCS 4.54 per cent. In the broader market, the S&P BSE midcap index fell by 1.93 per cent and smallcap index 2.07 per cent. "Indian markets have been seeing a sharp sell-off on account of depreciation in rupee and higher crude prices. This negative sentiment was further reinforced by fears of liquidity crisis to support credit growth following the IL&FS scare," said Nitasha Shankar, Sr Vice President and Head of Research, YES Securities. Nearly 400 stocks hit their 52-week low on BSE Thursday. At the BSE, 1,889 stocks declined, while 775 advanced and 138 remained unchanged.

Investors become poorer by Rs 5 lakh crore in two days of market crash

Indian stock markets closed in red on Thursday with BSE Sensex diving 806.47 points to close at 35,169.16 and Nifty sinking 259 points at 10,599.25, news agency PTI reported.&nbsp;

Markets today opened on a negative note, with the BSE benchmark Sensex cracking over 850 points in early session as the rupee hit another low amid weak global cues and fears of widening current account deficit.

The 50-share Nifty tumbled nearly 250 points to test the 10,600-mark during the day.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/Sensex?src=hash&amp;ref_src=twsrc%5Etfw">#Sensex</a> down by 806.47 points, currently at 35,169.16; Nifty down by 259 points, currently at 10,599.25
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1047790558834507776?ref_src=twsrc%5Etfw">October 4, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The rupee's plunge to a new record low of 73.72 against the dollar in early trade, too, weighed on investor mood.

Meanwhile, fuel prices across the country witnessed an unabated rise with petrol in Mumbai selling at Rs 91.34 per litre, while diesel rose to Rs 80.10 per litre. In Delhi, prices of petrol and diesel were hiked by 0.15 paise and 0.20 paise, respectively at Rs 84 per litre and Rs 75.45 per litre, respectively.&nbsp;

Union Finance Minister Arun Jaitley on Thursday noon announced relief to consumers by communicating government's decision to cut fuel prices by Rs 2.5.&nbsp;

According to the Finance Minister, while the excise duty has been cut by Rs 1.5, various oil marketing companies will also absorb Rs 1 giving a cumulative relief of Rs 2.5 on fuel prices to the consumers.

Indian stock markets closed in red on Thursday with BSE Sensex diving 806.47 points to close at 35,169.16 and Nifty sinking 259 points at 10,599.25, news agency PTI reported.

Indian stock markets closed in red on Thursday with BSE Sensex diving 806.47 points to close at 35,169.16 and Nifty sinking 259 points at 10,599.25, news agency PTI reported. Markets today opened on a negative note, with the BSE benchmark Sensex cracking over 850 points in early session as the rupee hit another low amid weak global cues and fears of widening current account deficit. The 50-share Nifty tumbled nearly 250 points to test the 10,600-mark during the day. #Sensex down by 806.47 points, currently at 35,169.16; Nifty down by 259 points, currently at 10,599.25 — ANI (@ANI) October 4, 2018 × The rupee's plunge to a new record low of 73.72 against the dollar in early trade, too, weighed on investor mood. Meanwhile, fuel prices across the country witnessed an unabated rise with petrol in Mumbai selling at Rs 91.34 per litre, while diesel rose to Rs 80.10 per litre. In Delhi, prices of petrol and diesel were hiked by 0.15 paise and 0.20 paise, respectively at Rs 84 per litre and Rs 75.45 per litre, respectively. Union Finance Minister Arun Jaitley on Thursday noon announced relief to consumers by communicating government's decision to cut fuel prices by Rs 2.5. According to the Finance Minister, while the excise duty has been cut by Rs 1.5, various oil marketing companies will also absorb Rs 1 giving a cumulative relief of Rs 2.5 on fuel prices to the consumers.

Markets close in red, Sensex tanks 806.47 points to close at 35,169.16  

The BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices.

The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a low of 36,325.15. The gauge had gained 299 points Monday after the RBI announced measures to shore up liquidity.

Investors were also cautious ahead of the three-day RBI policy review scheduled to begin Wednesday.

Sectoral indices led by PSU, metal, infrastructure, power, oil and gas, auto, capital goods, realty and consumer durables stocks were trading in the negative terrain, falling by up to 1.43 per cent.

The NSE Nifty fell 93.55 points, or 0.85 per cent, to 10,914.75.

Top laggards include Maruti Suzuki, Asian Paint, TCS, Coal India, HDFC Bank, SBI and IndusInd Bank, falling up to 2.18 per cent.

However, Yes Bank continued its recovery for the second straight day and rose 7 per cent. ONGC, Infosys, Hero MotoCorp, ITC and Sun Pharma were also trading in the green on bargain buying.

Foreign funds sold shares worth a net of Rs 1,842 crore, while domestic institutional investors bought equities worth Rs 1,805 crore Monday, provisional data showed.

Meanwhile, Brent crude oil near USD 85 a barrel, the rupee weakening by 43 paise to hit an all-time low of 73.34 against the dollar, and a mixed trend in other Asian markets also influenced trading sentiment here.

Japan's Nikkei fell 0.40 per cent, while Hong Kong's Hang Seng shed 0.56 per cent in early deals. Chinese markets were closed for a public holiday. 
The US Dow Jones Industrial Average ended at a record high by rising 0.46 per cent Tuesday.&nbsp;

The BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices.

The BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a low of 36,325.15. The gauge had gained 299 points Monday after the RBI announced measures to shore up liquidity. Investors were also cautious ahead of the three-day RBI policy review scheduled to begin Wednesday. Sectoral indices led by PSU, metal, infrastructure, power, oil and gas, auto, capital goods, realty and consumer durables stocks were trading in the negative terrain, falling by up to 1.43 per cent. The NSE Nifty fell 93.55 points, or 0.85 per cent, to 10,914.75. Top laggards include Maruti Suzuki, Asian Paint, TCS, Coal India, HDFC Bank, SBI and IndusInd Bank, falling up to 2.18 per cent. However, Yes Bank continued its recovery for the second straight day and rose 7 per cent. ONGC, Infosys, Hero MotoCorp, ITC and Sun Pharma were also trading in the green on bargain buying. Foreign funds sold shares worth a net of Rs 1,842 crore, while domestic institutional investors bought equities worth Rs 1,805 crore Monday, provisional data showed. Meanwhile, Brent crude oil near USD 85 a barrel, the rupee weakening by 43 paise to hit an all-time low of 73.34 against the dollar, and a mixed trend in other Asian markets also influenced trading sentiment here. Japan's Nikkei fell 0.40 per cent, while Hong Kong's Hang Seng shed 0.56 per cent in early deals. Chinese markets were closed for a public holiday. The US Dow Jones Industrial Average ended at a record high by rising 0.46 per cent Tuesday.

Sensex falls over 200 points, Nifty slips below 11,000

Indian markets on Wednesday closed in red with BSE Sensex plunging 550.51 points to end at 35,975.63. Nifty, on the other hand, tanked 150.05 points to close at 10,858.25.&nbsp;

Meanwhile, the Indian currency was at Rs 73.25 against the American dollar on Wednesday noon.&nbsp;

In opening trade on Wednesday, the <a href="http://www.wionews.com/business-economy/sensex-falls-over-200-points-nifty-slips-below-11000-169111">BSE Sensex fell over 200 points</a> and the NSE Nifty dropped below the 11,000-level in early trade after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices.

The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a low of 36,325.15. The gauge had gained 299 points Monday after the RBI announced measures to shore up liquidity.

The <a href="http://www.wionews.com/business-economy/rupee-hits-fresh-record-low-7324-against-us-dollar-169082">rupee dropped to a record low on Wednesday</a> as a sharp rise in global crude oil prices heaped more pressure on the currency, prompting the central bank to quickly intervene to slow its fall.

The domestic currency slid 34 paise to a new record low of 73.25 against the US dollar in early morning trade.&nbsp;

The partially convertible rupee briefly traded stronger on the day at 72.90 per dollar against its previous close of 72.91 after the news report. It had touched a life low of 73.42 earlier in the session.

By 2:34 pm, the rupee was trading at 73.24 per dollar.

(With inputs from agencies)&nbsp;

Indian markets on Wednesday closed in red with BSE Sensex plunging 550.51 points to end at 35,975.63. Nifty, on the other hand, tanked 150.05 points to close at 10,858.

Indian markets on Wednesday closed in red with BSE Sensex plunging 550.51 points to end at 35,975.63. Nifty, on the other hand, tanked 150.05 points to close at 10,858.25. Meanwhile, the Indian currency was at Rs 73.25 against the American dollar on Wednesday noon. In opening trade on Wednesday, the BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a low of 36,325.15. The gauge had gained 299 points Monday after the RBI announced measures to shore up liquidity. The rupee dropped to a record low on Wednesday as a sharp rise in global crude oil prices heaped more pressure on the currency, prompting the central bank to quickly intervene to slow its fall. The domestic currency slid 34 paise to a new record low of 73.25 against the US dollar in early morning trade. The partially convertible rupee briefly traded stronger on the day at 72.90 per dollar against its previous close of 72.91 after the news report. It had touched a life low of 73.42 earlier in the session. By 2:34 pm, the rupee was trading at 73.24 per dollar. (With inputs from agencies)

Markets close in red with Sensex plunging over 500 points

Indian markets on Monday opened in red with the BSE Sensex ruling&nbsp;59.79 points lower at 36,167 at 9:26 am.

The benchmark 30-share BSE Sensex recovered after falling marginally in early trade Monday amid mixed global trends.

The NSE barometer Nifty50 was trading at 10,882.

The Reserve Bank of India's policy meeting, macroeconomic data announcements and trends in crude oil prices are expected to be the key factors for market movements this week.

Last week, the 30-share BSE index slipped at 97.03 points in see-saw trade to close at 36,227.14, while the NSE Nifty dropped 47.10 points to 10,930.45.

The Sensex lost a whopping 2,417.93 points, or 6.26 per cent, in September -- its worst monthly show since February 2016.

(With inputs from PTI)

&nbsp;

 
 
&nbsp;

&nbsp;

Indian markets on Monday opened in red with the BSE Sensex ruling 59.79 points lower at 36,167 at 9:26 am. The benchmark 30-share BSE Sensex recovered after falling marginally in early trade Monday amid mixed global trends.

Indian markets on Monday opened in red with the BSE Sensex ruling 59.79 points lower at 36,167 at 9:26 am. The benchmark 30-share BSE Sensex recovered after falling marginally in early trade Monday amid mixed global trends. The NSE barometer Nifty50 was trading at 10,882. The Reserve Bank of India's policy meeting, macroeconomic data announcements and trends in crude oil prices are expected to be the key factors for market movements this week. Last week, the 30-share BSE index slipped at 97.03 points in see-saw trade to close at 36,227.14, while the NSE Nifty dropped 47.10 points to 10,930.45. The Sensex lost a whopping 2,417.93 points, or 6.26 per cent, in September -- its worst monthly show since February 2016. (With inputs from PTI)

Markets open in Red, Sensex tumbles nearly 60 points

Indian shares ended higher on Monday snapping a three-session losing streak, boosted by financials such as Housing Development Finance Corp Ltd and IT bellwether Tata Consultancy Services Ltd.

Investors remained cautious in early trade following the central bank announced measures to curb liquidity concerns ahead of a key policy meeting later this week.

The benchmark BSE Sensex closed up 0.83 per cent at 36,526.14. The broader NSE Nifty ended 0.71 per cent higher at 11,008.3.

HDFC closed 3.45 per cent higher and contributed to over a fifth of the Nifty's gains, while TCS gained 3.05 per cent.

Yes Bank Ltd was the top percentage gainer on the NSE index, closing 9.37 per cent higher.

Indian shares ended higher on Monday snapping a three-session losing streak, boosted by financials such as Housing Development Finance Corp Ltd and IT bellwether Tata Consultancy Services Ltd.

Indian shares ended higher on Monday snapping a three-session losing streak, boosted by financials such as Housing Development Finance Corp Ltd and IT bellwether Tata Consultancy Services Ltd. Investors remained cautious in early trade following the central bank announced measures to curb liquidity concerns ahead of a key policy meeting later this week. The benchmark BSE Sensex closed up 0.83 per cent at 36,526.14. The broader NSE Nifty ended 0.71 per cent higher at 11,008.3. HDFC closed 3.45 per cent higher and contributed to over a fifth of the Nifty's gains, while TCS gained 3.05 per cent. Yes Bank Ltd was the top percentage gainer on the NSE index, closing 9.37 per cent higher.

Nifty, Sensex snap three sessions of fall; financials gain

The Sensex advanced over 150 points and Nifty reclaimed the 11,000 mark in early session Friday as the October derivatives series took off on a strong footing amid positive global cues.

The 30-share Sensex, which lost 327.89 points in the previous two sessions, recovered by 181.95 points, or 0.50 per cent, to 36,506.12.

Sectoral indices of BSE led by oil and gas, FMCG, banking, consumer durables, infrastructure and capital goods were in the positive territory, rising by up to 0.95 per cent.

The NSE Nifty too gained 26 points, or 0.24 per cent, to 11,003.55.

Brokers said investors created new positions following the beginning of the October futures and options (F&amp;O) series leading to the recovery in the market.

Moreover, data showing fresh buying by foreign institutional investors on the Indian bourses on Thursday buoyed sentiment.

Major gainers were IndusInd Bank, Asian Paints, ITC, HDFC, Axis Bank, Adani Ports, HDFC Bank, ICICI Bank, ONGC, Tata Motors, RIL and Kotak Bank, gaining up to 1.66 per cent.

However, Yes Bank emerged the worst performer in the Sensex kitty, plunging 7.82 per cent.

Also, Bharti Airtel, M&amp;M, Hero MotoCorp, Tata Steel and Vedanta shed up to 3.36 per cent.

A firming trend elsewhere in Asia led by Japan, tracking healthy lead from Wall Street after the upbeat US economic data, accelerated buying activity at the domestic bourses here, they added.

Japan's Nikkei moved 1.70 per cent higher, while Hong Kong's Hang Seng gained 0.59 per cent in early trade. China's Shanghai Composite Index too rose 0.93 per cent.

The US market ended 0.21 per cent higher Thursday.

The Sensex advanced over 150 points and Nifty reclaimed the 11,000 mark in early session Friday as the October derivatives series took off on a strong footing amid positive global cues.

The Sensex advanced over 150 points and Nifty reclaimed the 11,000 mark in early session Friday as the October derivatives series took off on a strong footing amid positive global cues. The 30-share Sensex, which lost 327.89 points in the previous two sessions, recovered by 181.95 points, or 0.50 per cent, to 36,506.12. Sectoral indices of BSE led by oil and gas, FMCG, banking, consumer durables, infrastructure and capital goods were in the positive territory, rising by up to 0.95 per cent. The NSE Nifty too gained 26 points, or 0.24 per cent, to 11,003.55. Brokers said investors created new positions following the beginning of the October futures and options (F&O) series leading to the recovery in the market. Moreover, data showing fresh buying by foreign institutional investors on the Indian bourses on Thursday buoyed sentiment. Major gainers were IndusInd Bank, Asian Paints, ITC, HDFC, Axis Bank, Adani Ports, HDFC Bank, ICICI Bank, ONGC, Tata Motors, RIL and Kotak Bank, gaining up to 1.66 per cent. However, Yes Bank emerged the worst performer in the Sensex kitty, plunging 7.82 per cent. Also, Bharti Airtel, M&M, Hero MotoCorp, Tata Steel and Vedanta shed up to 3.36 per cent. A firming trend elsewhere in Asia led by Japan, tracking healthy lead from Wall Street after the upbeat US economic data, accelerated buying activity at the domestic bourses here, they added. Japan's Nikkei moved 1.70 per cent higher, while Hong Kong's Hang Seng gained 0.59 per cent in early trade. China's Shanghai Composite Index too rose 0.93 per cent. The US market ended 0.21 per cent higher Thursday.

Sensex surges over 150 points; Nifty reclaims 11,000 mark

The key stock market indices on Thursday opened higher despite a muted trend in Asian markets and rate hike by the US Federal Reserve.

The Sensitive Index (Sensex) of the BSE, which had closed at 36,542.27 points on Wednesday, opened higher at 36,691.93 points.

At 09:50 am, the Sensex is up 52.20 points at 36,594, while the Nifty is up 8 points at 11,060.&nbsp;

Shares of HDFC, M&amp;M and HDFC Bank are among the top losers in the morning trade, shedding as much as 1% each.&nbsp;

Shares of Bajaj Finance, Indiabulls Housing Finance too were under pressure, &nbsp;tanking by up to 1% in the morning trade.

Meanwhile, Rupee is trading around 72.4975 after opening at 72.41-mark on Thursday morning.&nbsp;

The key stock market indices on Thursday opened higher despite a muted trend in Asian markets and rate hike by the US Federal Reserve. The Sensitive Index (Sensex) of the BSE, which had closed at 36,542.

The key stock market indices on Thursday opened higher despite a muted trend in Asian markets and rate hike by the US Federal Reserve. The Sensitive Index (Sensex) of the BSE, which had closed at 36,542.27 points on Wednesday, opened higher at 36,691.93 points. At 09:50 am, the Sensex is up 52.20 points at 36,594, while the Nifty is up 8 points at 11,060. Shares of HDFC, M&M and HDFC Bank are among the top losers in the morning trade, shedding as much as 1% each. Shares of Bajaj Finance, Indiabulls Housing Finance too were under pressure, tanking by up to 1% in the morning trade. Meanwhile, Rupee is trading around 72.4975 after opening at 72.41-mark on Thursday morning.

Stock markets rise after a choppy start; Sensex at 36,594 and Nifty at 11,060

Indian stock market indices opened with solid gains on Wednesday ahead of Fed meet outcome.

Shrugging off weak global cues, fresh buying was witnessed across the board as all the sectoral indices were trading in the green.&nbsp;

The Sensex was up 222.59 points or 0.61% at 36874.65, while the Nifty was higher by 67.50 points or 0.61% at 11135.00.&nbsp;

The market breadth is positive as 432 shares advanced, against a decline of 98 shares, while 27 shares were unchanged.

At 9.11am, the rupee was trading at 72.73 to a dollar, down 0.03% from its Tuesday’s close of 72.70. The home currency opened at 72.72 per dollar

Asian shares barely budged on Wednesday, lacking traction as US bond yields edged near a seven-year peak ahead of a widely expected rate hike by the Federal Reserve. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat in early trade. In Japan, the Nikkei edged down 0.4 per cent.

Indian stock market indices opened with solid gains on Wednesday ahead of Fed meet outcome. Shrugging off weak global cues, fresh buying was witnessed across the board as all the sectoral indices were trading in the green.

Indian stock market indices opened with solid gains on Wednesday ahead of Fed meet outcome. Shrugging off weak global cues, fresh buying was witnessed across the board as all the sectoral indices were trading in the green. The Sensex was up 222.59 points or 0.61% at 36874.65, while the Nifty was higher by 67.50 points or 0.61% at 11135.00. The market breadth is positive as 432 shares advanced, against a decline of 98 shares, while 27 shares were unchanged. At 9.11am, the rupee was trading at 72.73 to a dollar, down 0.03% from its Tuesday’s close of 72.70. The home currency opened at 72.72 per dollar Asian shares barely budged on Wednesday, lacking traction as US bond yields edged near a seven-year peak ahead of a widely expected rate hike by the Federal Reserve. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat in early trade. In Japan, the Nikkei edged down 0.4 per cent.

Sensex rises over 200 points, Nifty above 11100

Indian shares ended lower on Wednesday, dragged by consumer goods and IT stocks, while investors awaited cues from a US&nbsp;Federal Reserve meeting that ends later in the day.

The benchmark BSE Sensex closed down 0.30 per cent at 36,542.27 while the broader NSE Nifty ended 0.12 per cent lower at 11,053.8. 
Both the indexes fell for the sixth session in seven.

ITC closed 2.67 per cent lower while information technology majors Tata Consultancy Services Ltd and Infosys Ltd fell 1.65 per cent and 0.9 per cent, respectively.

Indian shares ended lower on Wednesday, dragged by consumer goods and IT stocks, while investors awaited cues from a US Federal Reserve meeting that ends later in the day.

Indian shares ended lower on Wednesday, dragged by consumer goods and IT stocks, while investors awaited cues from a US Federal Reserve meeting that ends later in the day. The benchmark BSE Sensex closed down 0.30 per cent at 36,542.27 while the broader NSE Nifty ended 0.12 per cent lower at 11,053.8. Both the indexes fell for the sixth session in seven. ITC closed 2.67 per cent lower while information technology majors Tata Consultancy Services Ltd and Infosys Ltd fell 1.65 per cent and 0.9 per cent, respectively.

Nifty, Sensex end lower; ITC, TCS drag

Indian markets on Tuesday opened in red, the benchmark BSE Sensex fell 79.02 points, or 0.22 per cent, to 36,226, news agency PTI reported. &nbsp;

Nifty was recorded at 10,969.95 in the first few minutes of the opening morning trade on Tuesday. Nifty50 was at 10,943.35, 24.05 points or 0.22 per cent lower.

On a net basis, foreign funds sold shares worth Rs 523.94 crore, while domestic institutional investors bought shares to the tune of Rs 1,527.67 crore Monday, provisional data showed.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/Sensex?src=hash&amp;ref_src=twsrc%5Etfw">#Sensex</a> currently at 36,112.72; Nifty currently at 10,900.05 <a href="https://t.co/frtWMdzrsm">pic.twitter.com/frtWMdzrsm</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1044440044776378369?ref_src=twsrc%5Etfw">September 25, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Indian shares fell more than one per cent and ended lower for a fifth straight session on Monday.&nbsp;

The benchmark BSE index closed down 1.46 per cent at 36,305.02, its lowest close since July 11.

The broader NSE index ended 1.58 per cent lower at 10,967.4, its biggest single-day percentage loss since March 16, Reuters reported.&nbsp;

(With inputs from agencies)&nbsp;

 
&nbsp;

Indian markets on Tuesday opened in red, the benchmark BSE Sensex fell 79.02 points, or 0.22 per cent, to 36,226, news agency PTI reported. Nifty was recorded at 10,969.

Indian markets on Tuesday opened in red, the benchmark BSE Sensex fell 79.02 points, or 0.22 per cent, to 36,226, news agency PTI reported. Nifty was recorded at 10,969.95 in the first few minutes of the opening morning trade on Tuesday. Nifty50 was at 10,943.35, 24.05 points or 0.22 per cent lower. On a net basis, foreign funds sold shares worth Rs 523.94 crore, while domestic institutional investors bought shares to the tune of Rs 1,527.67 crore Monday, provisional data showed. #Sensex currently at 36,112.72; Nifty currently at 10,900.05 pic.twitter.com/frtWMdzrsm — ANI (@ANI) September 25, 2018 × Indian shares fell more than one per cent and ended lower for a fifth straight session on Monday. The benchmark BSE index closed down 1.46 per cent at 36,305.02, its lowest close since July 11. The broader NSE index ended 1.58 per cent lower at 10,967.4, its biggest single-day percentage loss since March 16, Reuters reported. (With inputs from agencies)

Markets open in red, Sensex tumbles by over 50 points 

Indian shares snapped a five-session losing streak and ended higher on Tuesday, helped by gains in financials such as Housing Development Finance Corp Ltd and HDFC Bank.

The benchmark BSE Sensex closed 0.96 per cent higher at 36,652.06. The broader NSE Nifty gained 0.91 per cent to 11,067.45.

HDFC closed 3.2 per cent higher, contributing to more than a fifth of the Nifty's gains.

Indian shares snapped a five-session losing streak and ended higher on Tuesday, helped by gains in financials such as Housing Development Finance Corp Ltd and HDFC Bank.

Indian shares snapped a five-session losing streak and ended higher on Tuesday, helped by gains in financials such as Housing Development Finance Corp Ltd and HDFC Bank. The benchmark BSE Sensex closed 0.96 per cent higher at 36,652.06. The broader NSE Nifty gained 0.91 per cent to 11,067.45. HDFC closed 3.2 per cent higher, contributing to more than a fifth of the Nifty's gains.

Nifty closes nearly 1 per cent higher as financials recover

Continuing its uptrend, the rupee firmed by another 53 paise to trade at over a two-week high of 71.84 against the US dollar in early trade Friday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

Besides, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee, forex dealers said.

On Wednesday, the rupee had gained 61 paise, notching up its best single-day gain since March 2017 to close at 72.37 against the US currency supported by heavy dollar selling by banks and weakness in the greenback in global markets.

Meanwhile, the benchmark BSE Sensex recovered by 231.40 points, or 0.62 per cent, to 37,352.62 in morning trade.

The stock market was shut Thursday on account of Muharram.

The Sensex had lost 969.42 points in the previous three sessions.

The NSE Nifty went past 11,300 to trade at 11,318.50, gaining 84.15, or 0.75 per cent.

Sectoral indices, including metal, oil and gas, PSU, power, infrastructure, healthcare, consumer durables, FMCG, capital goods, auto and banking stocks, rose up to 1.62 per cent.

Continuing its uptrend, the rupee firmed by another 53 paise to trade at over a two-week high of 71.84 against the US dollar in early trade Friday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

Continuing its uptrend, the rupee firmed by another 53 paise to trade at over a two-week high of 71.84 against the US dollar in early trade Friday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks. Besides, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee, forex dealers said. On Wednesday, the rupee had gained 61 paise, notching up its best single-day gain since March 2017 to close at 72.37 against the US currency supported by heavy dollar selling by banks and weakness in the greenback in global markets. Meanwhile, the benchmark BSE Sensex recovered by 231.40 points, or 0.62 per cent, to 37,352.62 in morning trade. The stock market was shut Thursday on account of Muharram. The Sensex had lost 969.42 points in the previous three sessions. The NSE Nifty went past 11,300 to trade at 11,318.50, gaining 84.15, or 0.75 per cent. Sectoral indices, including metal, oil and gas, PSU, power, infrastructure, healthcare, consumer durables, FMCG, capital goods, auto and banking stocks, rose up to 1.62 per cent.

Rupee at 2-week high, markets open in green

The BSE Sensex tumbled about 280 points to close below the 37,000-mark Friday after investors were jolted by an over 1,000-point plunge in afternoon trade.

The 30-share benchmark, which opened on a strong footing, suddenly tanked 1,127.58 points, or 3.03 per cent, to hit a low of 35,993.64 at 1309 hours, before staging an equally sharp recovery.

The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.

The Sensex finally ended lower by 279.62 points, or 0.75 per cent, at 36,841.60. This is its lowest closing since July 25, when it had finished at 36,858.23.

Yes Bank was the worst performer on the index, losing a whopping 28.71 per cent. The Reserve Bank Wednesday curtailed the term of its founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019.

The broader Nifty too suffered a mid-session plunge and ended at 11,143.10, down 91.25 points.

The indices closed with losses for the third straight week. The Sensex lost a hefty 1,249.04 points, or 3.28 per cent, while the NSE Nifty fell 372.10 points, or 3.23 per cent, during the week.

Foreign portfolio investors (FPIs) remained net sellers and offloaded equities worth Rs 2,184.55 crore while domestic institutional investors (DIIs) made purchases worth a net Rs 1,201.30 crore Wednesday, provisional data showed.&nbsp;

The BSE Sensex tumbled about 280 points to close below the 37,000-mark Friday after investors were jolted by an over 1,000-point plunge in afternoon trade. The 30-share benchmark, which opened on a strong footing, suddenly tanked 1,127.

The BSE Sensex tumbled about 280 points to close below the 37,000-mark Friday after investors were jolted by an over 1,000-point plunge in afternoon trade. The 30-share benchmark, which opened on a strong footing, suddenly tanked 1,127.58 points, or 3.03 per cent, to hit a low of 35,993.64 at 1309 hours, before staging an equally sharp recovery. The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis. The Sensex finally ended lower by 279.62 points, or 0.75 per cent, at 36,841.60. This is its lowest closing since July 25, when it had finished at 36,858.23. Yes Bank was the worst performer on the index, losing a whopping 28.71 per cent. The Reserve Bank Wednesday curtailed the term of its founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019. The broader Nifty too suffered a mid-session plunge and ended at 11,143.10, down 91.25 points. The indices closed with losses for the third straight week. The Sensex lost a hefty 1,249.04 points, or 3.28 per cent, while the NSE Nifty fell 372.10 points, or 3.23 per cent, during the week. Foreign portfolio investors (FPIs) remained net sellers and offloaded equities worth Rs 2,184.55 crore while domestic institutional investors (DIIs) made purchases worth a net Rs 1,201.30 crore Wednesday, provisional data showed.

Sensex ends in red after 1,000-point flash crash

sensex

Sensex, News on Sensex, stories on Sensex, articles on Sensex, Sensex stories at Wion, Sensex news, Sensex latest news