Rupee trades near day's low at 70.14/USD

Indian rupee is trading near to day's low at 70.14 per dollar, down 44 paise against Thursday's close 69.70.

Yesterday the rupee ended at the highest level against the US dollar since November 30 as crude oil price plunged to the lowest level over a year. It gained 70 paise against Wednesday's close of 70.40 per dollar.

Rupee gained sharply against the US dollar following broader weakness in the dollar and plunge in global crude oil prices. Gains in the rupee were triggered after the Federal Reserve in its policy statement mentioned that rate hike in the coming year could be restricted to two compared to earlier estimates of three rate hikes next year, said Motilal Oswal.

Fed Chairman Jerome Powell said the central bank would continue trimming its balance sheet by USD 50 billion each month, and left open the possibility that continued strong data could force it to raise rates to the point where they start to brake the economy’s momentum.

Today, USD-INR pair is expected to quote in the range of 69.70 and 70.50. Pound failed to break the crucial resistance of 1.2740 ahead of important Bank of England policy statement, wherein the central bank, it added.

Source:https://www.moneycontrol.com/news/business/markets/rupee-trades-near-days-low-at-70-14usd-3314021.html

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Sensex continues to trade lower, Nifty holds on to 10,900; Airtel up 2%

Market opens It’s a mildly lower start to the market on Friday morning, amid weak global cues. The Nifty is holding 10,900-mark. 

Among sectors, Nifty IT index is down around half a percent, while energy and pharma are in the negative zone. Automobile names are trading in the green. 

The Nifty Midcap index is up one quarter of a percent. 

The Sensex is down 31.04 points or 0.09% at 36400.63, while the Nifty was down 16.20 points or 0.15% at 10935.50. The market breadth is positive as 295 shares advanced, against a decline of 107 shares, while 21 shares were unchanged.

Bharti Airtel, Yes Bank, HPCL and Indiabulls Housing are the top gainers, while Infosys, Power Grid and IOC have lost the most. 

Rupee opens The Indian rupee opened at 69.72 per dollar on Friday versus previous close 69.70.

Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-continues-to-trade-lower-nifty-holds-on-to-10900-airtel-up-2-3313861.html

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Sensex sees marginal recovery, down over 100 points; Nifty back at 10,900

Market opens It’s a gap down start to the market on Thursday morning, with the Sensex taking a cut of 0.7 percent, while the Nifty has given up 10,900-mark. 

All sectors are trading in the red, with maximum cuts visible among banks, automobiles, energy and metals, among others. The Nifty Midcap index is down around a percent. 

The Sensex is down 259.49 points or 0.71% at 36224.84, while the Nifty is down 78.90 points or 0.72% at 10888.40. The market breadth is negative as 197 shares advanced, against a decline of 264 shares, while 32 shares were unchanged.

Sun Pharma, M&M, and Tech Mahindra are the top gainers, while Vedanta, NTPC, and Hindalco lost the most. 

Rupee opens The Indian rupee has opened at 70.68 per US dollar, a weaker opening compared to previous close of 70.40 per US dollar.

Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-sees-marginal-recovery-down-over-100-points-nifty-back-at-10900-3309991.html

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