Rupee down 10 paise against dollar

 Economy
Dec 162012
 

The author has posted comments on this articlePTI | Dec 17, 2012, 10.19AM IST

MUMBAI: The rupee on Monday fell by 10 paise to trade at 54.58 against the US dollar in early trade, extending its slide for the fourth day, at the Interbank Foreign Exchange as the American currency firmed against euro and other currencies in the overseas market.

Dealers said besides strengthening of dollar against the major currencies including yen, which plunged to a year-and-a-half low overseas, a lower opening the domestic equity market mainly put pressure on the local unit.

Meanwhile, the BSE benchmark Sensex fell by 33.22 points, or 0.17 per cent, to 19,284.03 in early trade.

The rupee had lost just two paisa to close at 54.48 against the US currency on Friday.

Sensex declines 126 points

 Economy
Dec 132012
 

The author has posted comments on this articlePTI | Dec 13, 2012, 04.58PM IST
MUMBAI: Falling for the fifth straight day, the BSE benchmark Sensex today closed 126 points down on sustained selling by investors ahead of wholesale inflation data amid a weakening trend in the European region.

Extending its previous four sessions loss of 132 points, the gauge dropped 0.65 per cent to close at 19,229.26 points.

The 30-share index touched the day’s high of 19,421.72. Similarly, the broad-based 50-stock Nifty of NSE lost 36.50 points, or 0.62 per cent, to 5,851.50, after touching a high of 5,907.45.

Brokers said the cautious investors indulged in selling over concern that any further fall in inflation data might fade chances of the Reserve Bank of India to cut interest rate in its mid-quarter policy review on December 18.

WPI-based inflation data will be announced tomorrow. Traders said a weakening trend in the euro zone after the US Federal Reserve announced new measures to support the world’s largest economy, further dampened the investor confidence.

Selling pressure was wide-based as all sectoral indices, barring auto and refinery, closed with losses up to 2.73 per cent.

Infosys led the fall in the software sector by losing 0.69 per cent to Rs 2,283 over concern that dim situations on the global front might hurt revenues.

ITC Ltd, also a prominent member of the index, tumbled by 3.55 per cent to Rs 295 after FTSE global equity index series cut the stock’s “investability” weight to 24 per cent from 75 per cent.

The consumer durable sector index suffered the most by losing 2.73 per cent to 7,862.13 followed by FMCG index by 2.64 per cent to 5,970.55. Realty index fell by 1.62 per cent to 2,046.54.

Sensex closes 32 points down

 Economy
Dec 122012
 

The author has posted comments on this articlePTI | Dec 12, 2012, 04.51PM IST
MUMBAI: Registering losses for the fourth straight day, the BSE benchmark sensex today closed 32 points lower as a sharp rebound in industrial growth during October and retail-level inflation inching up to 9.9% in November, dimmed interest rate cut hopes.

The sensex, which had lost nearly 100 points in the past three trading sessions, fell further by 31.88 points, or 0.16% to 19,355.26. The gauge touched the day’s high of 19,478.79 in early trade but failed to sustain momentum after IIP and inflation data were released.

The 30-share index was dragged down by financial stocks, including HDFC, ICICI Bank and SBI. HUL, L&T, ONGC, BHEL and Tata Motors also were among the 20 losers.

Similarly, the broad-based National Stock Exchange index Nifty fell by 10.80 points to 5,888 points, after rising to 5,924.60 at the outset.

While retail inflation rose to 9.90% in November, from 9.75% in October, the industrial output growth rate bounced back to 8.2% in October compared to 5% decline in the same month last year.

The capital goods, metal and banking sectors suffered the most today.

Brokers said trading remained listless as they reduced their holdings despite a firming trend in Asian and European stock markets.

The benchmark Indian indices were cushioned to some extent today by rise in Reliance Industries, ITC, M&M, Bajaj Auto and HDFC Bank stocks that gained.