Abbasi and Company, a leading stock broker in Pakistan has facilitated the launch Roshan Equity Investment for RDA holders. The main purpose of RDA is to promote new investment opportunities in Pakistan along with the collaboration of renowned banks on an international platform. Roshan Equity Investment is a product offered to non-resident Pakistanis under the […]
Mumbai Apr 25 PTI The rupee declined by 22 paise to close at 7664 against the US dollar on Monday tracking a strong greenback overseas and a lacklustre trend in the domestic equity markets Heavy forex outflows amid growing worries over global growth weighed on the local units traders said At the interbank foreign exchange market the rupee opened lower at 7658 against the American currency and finally settled for the day at 7664 During the trading session the rupee witnessed an intra-day high of 7655 and a low of 7677 On Friday the rupee had closed 25 paise lower at 7642 The US dollar surged to a two-year high levels on strong risk-averse sentiment in global markets Chinese yuan dropped for a third day in a row on fears of slowdoan in China due to resurging Covid cases and subsequent lockdowns in main cities The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 034 per cent higher at 10156 Global oil benchmark Brent crude futures fell 438 per cent to USD 10198 per barrel The 30-share BSE Sensex ended 61726 points or 108 per cent lower at 5657989 while the broader NSE Nifty fell 218 points or 127 per cent to 1695395 The Indian rupee declined on Monday amid risk-off sentiments in global markets There are increased expectations that US Federal Reserve may hike interest rates by 50 bps in upcoming FOMC meet next week as indicated by Fed Chair Jerome Powells speech last week There are expectations of further aggressive rate hikes in the coming months too said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Significant foreign fund outflows have also dented the domestic currency while the sharp decline in crude oil prices have cushioned the downside for the rupee We expect Rupee to remain under pressure on deteriorating global risk sentiments due to escalating tensions between Russia and Ukraine and hawkish US Federal Reserve Concerns over resurgence of COVID-19 may also weigh on Rupee Rupee may trade in the range of Rs 76-7720 in the next couple of sessions Singh added Foreign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 330285 crore according to stock exchange data PTI DRR MR
Mumbai Apr 25 PTI The rupee declined 26 paise to close at 7668 provisional against the US dollar on Monday tracking a strong greenback overseas and a lacklustre trend in the domestic equity markets At the interbank foreign exchange market the rupee opened lower at 7658 against the American currency and finally settled for the day at 7668 down 26 paise over its previous close During the trading session the rupee witnessed an intra-day high of 7655 and a low of 7677 On Friday the rupee had closed 25 paise lower at 7642 Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 034 per cent higher at 10156 Global oil benchmark Brent crude futures fell 438 per cent to USD 10198 per barrel The 30-share BSE Sensex ended 61726 points or 108 per cent lower at 5657989 while the broader NSE Nifty fell 218 points or 127 per cent to 1695395 The Indian rupee declined on Monday amid risk-off sentiments in global markets There are increased expectations that US Federal Reserve may hike interest rates by 50 bps in upcoming FOMC meet next week as indicated by Fed Chair Jerome Powells speech last week There are expectations of further aggressive rate hikes in the coming months too said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Significant foreign fund outflows have also dented the domestic currency while the sharp decline in crude oil prices have cushioned the downside for the rupee We expect Rupee to remain under pressure on deteriorating global risk sentiments due to escalating tensions between Russia and Ukraine and hawkish US Federal Reserve Concerns over resurgence of COVID-19 may also weigh on Rupee Rupee may trade in the range of Rs 76-7720 in the next couple of sessions Singh added Foreign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 246172 crore according to stock exchange data PTI DRR DRR ABM ABM
Mumbai Apr 20 PTI Snapping its four-day losing streak the rupee appreciated by 20 paise to settle at 7630 against the US dollar on Wednesday tracking a weak greenback overseas and recovery in domestic equities However unabated foreign fund outflows capped the gains At the interbank forex market the domestic unit opened at 7641 against the US dollar and touched an intra-day high of 7616 and a low of 7652 It finally finished at 7630 registering a rise of 20 paise over its previous close The rupee is currently trading slightly higher today on overnight decline in crude oil prices and positive domestic equity markets Softer US Dollar is also supporting rupee said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Singh further said We expect Indian Rupee to decline again from higher levels as overall sentiments remain negative for Rupee Geopolitical tensions due to tensions between Russia and Ukraine may again put downside pressure on the Rupee Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 060 per cent lower at 10035 The US Dollar is also expected to recover from lower levels as hawkish Federal Reserve and elevated US bond yields may continue to support the greenback Singh said On the domestic equity market front the 30-share BSE Sensex ended 57435 points or 102 per cent higher at 5703750 while the broader NSE Nifty surged 17790 points or 105 per cent to 1713655 Brent crude futures the global oil benchmark inched up 076 per cent to USD 10806 per barrel Foreign institutional investors continued their selling spree and offloaded shares worth a net Rs 300926 crore on Wednesday as per stock exchange data According to Sriram Iyer Senior Research Analyst at Reliance Securities the rupee appreciated against the US dollar on Wednesday following gains in local equities and a fall in the dollar and US bond yields Most major equity markets in Asia except China and Hong Kong rose while regional currencies were mixed against the greenback The dollar and US bond yields fell as most investors await the final public statement from Fed Chair Jerome Powell Traders will closely watch for any hints regarding future monetary policy Rupee traded strongly near 7630 compared to 7650 previously amid weakness in Crude and Commodities across the board The rupee has been volatile in a range of 7625-7660 either side break can give a fresh rally A break above 7620 will see a sharp rise toward 7600 said Jateen Trivedi Senior Research Analyst at LKP Securities PTI DRR ABM ABM
Mumbai Apr 20 PTI The rupee appreciated 29 paise to settle at 7621 provisional against the US dollar on Wednesday tracking positive domestic equities and some moderation in crude oil prices At the interbank forex market the domestic unit opened at 7641 against the US dollar and touched an intra-day high of 7616 and finally closed at 7621 registering a rise of 29 paise over its previous close On Tuesday the rupee had dropped 21 paise to close at 7650 The rupee is currently trading slightly higher today on overnight decline in crude oil prices and positive domestic equity markets Softer US Dollar is also supporting rupee said Praveen Singh AVP- Fundamental currencies and Commodities analyst Sharekhan by BNP Paribas Singh further said We expect Indian Rupee to decline again from higher levels as overall sentiments remain negative for Rupee Geopolitical tensions due to tensions between Russia and Ukraine may again put downside pressure on the Rupee Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading 060 per cent lower at 10035 The US Dollar is also expected to recover from lower levels as hawkish Federal Reserve and elevated US bond yields may continue to support the greenback Singh said On the domestic equity market front the 30-share BSE Sensex ended 57435 points or 102 per cent higher at 5703750 while the broader NSE Nifty surged 17790 points or 105 per cent to 1713655 Brent crude futures the global oil benchmark inched up 076 per cent to USD 10806 per barrel Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 587169 crore as per stock exchange data PTI DRR DRR ABM ABM
Mumbai (Maharashtra) [India], April 6 (ANI/PNN): Elearnmarkets, India's premier online financial education portal along with its Fintech platform StockEdge, data analytics app is all set to host the first ever Face2Face Mega Trading Conclave in Goa from April 26 to April 29, 2022. The event is the brainchild of Vivek Bajaj, Co-founder Elearnmarkets, who also happens to be one of the most popular stock market experts.
Mumbai Mar 31 PTI The rupee advanced by 16 paise to close at 7574 against the US dollar on Thursday tracking strong Asian peers and a fall in global crude oil prices The local unit however closed the 2021-22 fiscal with overall losses of 361 per cent or 264 paise against the American currency due to a stronger dollar and surging crude oil prices At the interbank forex market the local unit opened at 7567 against the greenback and witnessed an intra-day high of 7566 and a low of 7583 The rupee finally settled at 7574 registering a rise of 16 paise over its previous close On Wednesday the rupee dropped 17 paise to close at 7590 against the US dollar According to Dilip Parmar Research Analyst HDFC Securities the rupee appreciated on Thursday following strong Asian currencies and lower crude oil prices On a quarterly basis it was the second consecutive quarter marked with a loss against the dollar and in percentage terms the weakest quarter after March 2020 FY22 remained highly volatile for global forex markets as we had seen a surge in COVID-19 global central banks started unwinding quantitative easing on the back of higher inflation and in last geopolitical tension between Russia and Ukraine Rupee depreciated 36 per cent in the current fiscal Parmar said The rupee declined sharply at the beginning of the financial year amid lockdowns during the second wave of COVID-19 which impacted domestic businesses and the economy severely said Praveen Singh - AVP Fundamental currencies and Commodities analyst at Sharekhan by BNP Paribas The unit recovered gradually on declining COVID-19 infections reopening of the economy and upbeat economic data Industrial production also picked up from May indicating a recovery in the economy However the rupee started to weaken again on the rising US dollar from October onwards The dollar gained ground as many Fed officials turned hawkish signalling hiking benchmark rates aggressively and tightening the policy Singh said The rupee declined further in the last quarter of FY2021-22 as Russia invaded Ukraine which impacted global market sentiments Riskier assets fell while safe-haven assets like the Dollar and Gold rallied Rupee Spot touched its all-time low of Rs 7715 per dollar in March Meanwhile the dollar index which measures the greenbacks strength against a basket of six currencies rose 040 per cent to 9818 Brent crude futures the global oil benchmark fell sharply by 559 per cent to USD 10711 per barrel On the domestic equity market front the BSE Sensex ended 11548 points or 020 per cent lower at 5856851 while the broader NSE Nifty fell 3350 points or 019 per cent to 1746475 Foreign institutional investors were net buyers in the capital market on Wednesday as they purchased shares worth Rs 135747 crore according to stock exchange data PTI DRR BAL MR MR
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