Indian stock markets witnessed a sharp downturn on Monday, with the benchmark indices Sensex and Nifty both plunging by over 1.5%, primarily due to a broad-based selloff. The drop in the indices was driven by rising concerns over third-quarter earnings growth, coupled with sustained foreign fund outflows, which dampened investors’ risk appetite. Adding to the market woes were fears surrounding the new HMPV virus, the depreciation of the rupee, and weak trends across Asian markets, all of which contributed to the overall negative sentiment. The 30-share BSE Sensex sank 1,258.12 points, or 1.59%, to settle at 77,964.99, closing below the 78,000 mark. At one point during the day, the index plunged even further, down 1,441.49 points, or 1.81%, to 77,781.62. Similarly, the NSE Nifty fell 388.70 points, or 1.62%, to end the day at 23,616.05. Among the prominent stocks in the Sensex pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra, and Reliance Industries were among the major laggards, leading the market decline. However, Titan and Sun Pharma were the only two stocks that managed to close in the green. Experts attributed the steep fall to multiple factors, including the rise in Foreign Institutional Investor (FII) selling, which amounted to Rs 4,227.25 crore on Friday. Santosh Meena, Head of Research at Swastika Investmart, stated, “The Indian equity markets are experiencing a sharp decline today, with both the Nifty and Bank Nifty slipping below their 200-day moving averages. This sell-off is largely due to growing concerns over the upcoming Q3 earnings season, alongside heightened fears related to the new HMPV virus.” Asian markets also faced a mixed session, with Seoul closing higher, while Tokyo, Shanghai, and Hong Kong ended in the red. European markets traded in a mixed fashion, while US markets had ended positively on Friday. Meanwhile, global oil prices witnessed a slight dip, with the Brent crude benchmark slipping by 0.25% to $76.32 per barrel. On Friday, the BSE Sensex had already experienced a decline of 720.60 points, or 0.90%, closing at 79,223.11, while the Nifty had dropped 183.90 points, or 0.76%, to end at 24,004.75. PTI reports indicate that the market continues to grapple with volatility, and concerns over the economic outlook are expected to remain a key focus in the coming days. (With inputs from PTI)
06 January,2025 04:30 PM IST | MumbaiThe Indian equity markets surged in early trade on Thursday, with buying activity in IT and banking stocks driving the benchmark indices higher. The BSE Sensex, which tracks 30 blue-chip stocks, rose by 242.95 points to reach 78,750.36 in the initial hours of trading. Similarly, the NSE Nifty also saw an uptick, gaining 69.25 points to trade at 23,812.15. Key stocks driving the market’s growth included large-cap IT and banking companies, such as Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, Infosys, HCL Tech, Tech Mahindra, Mahindra & Mahindra, and Tata Consultancy Services. Despite the overall market positivity, certain stocks were under pressure. NTPC, Sun Pharma, Asian Paints, and Adani Ports were among the notable laggards in the early session. As per the latest data from the Goods and Services Tax (GST) collection, India's gross GST revenue rose by 7.3 per cent year-on-year in December, touching Rs 1.77 lakh crore. This comes despite a notable rise in both domestic and export refunds during the same period. This revenue growth is seen as a positive sign for the economy and the markets, helping to support investor sentiment. In the Asian markets, however, trading was subdued. Major Asian indices such as Seoul, Shanghai, and Hong Kong were seen trading lower during the morning session, reflecting broader global market sentiment. Notably, US markets remained closed on Wednesday for the New Year holiday, contributing to lighter trading volumes. Foreign Institutional Investors (FIIs) continued their trend of profit booking, offloading equities worth Rs 1,782.71 crore on Wednesday, according to exchange data. This selling activity from FIIs could weigh on market sentiment in the coming days. Meanwhile, the global oil market remained firm, with Brent crude, the global oil benchmark, rising by 0.44 per cent to USD 74.97 per barrel in futures trade. This uptick in oil prices, despite global market volatility, may provide some support to energy-related stocks and sectors in India. Yesterday, on the first trading day of the year, the Sensex gained 368.40 points, or 0.47 per cent, to close at 78,507.41. The Nifty also ended higher, gaining 98.10 points, or 0.41 per cent, to settle at 23,742.90, setting a positive tone for the markets as they begin 2025. PTI reports indicate that while the market is buoyant in the early trade, investor attention will remain on global cues, the evolving GST collection data, and the movement of oil prices to gauge the market’s direction in the days ahead. (With inputs from PTI)
02 January,2025 10:09 AM IST | MumbaiThe Indian rupee witnessed a drop of 11 paise, falling to 85.75 against the US dollar in early trading on Thursday, primarily due to a strong dollar index and higher US 10-year bond yields.Forex traders attributed the rupee's decline to the sustained upward momentum of the dollar, which has strengthened against most global currencies throughout 2024 and continues to maintain a solid position into the new year. Additionally, ongoing foreign fund outflows have further dampened investor sentiment, adding pressure on the local currency. Global markets are expected to see low trading volumes in the near term, as major economies such as the UK and Europe are still in the holiday season. At the interbank foreign exchange, the rupee initially opened at 85.69 but slipped further to 85.75 against the greenback, marking an 11-paise drop compared to its previous close. On Wednesday, the rupee ended almost unchanged at 85.64 against the dollar. The Indian currency reached its lifetime intraday low of 85.80 on December 27 against the US dollar, raising concerns about the strength of the rupee. Meanwhile, the dollar index, which measures the US dollar's performance against a basket of six major currencies, stood at 108.32, down by 0.15 percent. This index has remained well-supported, hovering around the 108 mark for the last few sessions. Looking ahead, market experts are focusing on the potential impact of policies by US President Donald Trump, which could spur economic growth but also lead to higher price pressures. This scenario might prompt the US Federal Reserve to hold off on cutting interest rates for an extended period, according to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "Today, the rupee is expected to trade within a range of 85.50 to 85.80, with attention on liquidity positions as near-term premiums remain elevated," Bhansali noted. Brent crude, the global oil benchmark, was trading 0.44 percent higher at USD 74.97 per barrel in futures trade. On the domestic front, the 30-share BSE Sensex rose by 270.48 points, or 0.34 percent, to 78,777.89 points in early trade, while the Nifty gained 85.15 points, or 0.36 percent, to 23,828.05 points. Foreign Institutional Investors (FIIs) continued to be net sellers, offloading Rs 1,782.71 crore in the capital markets on Wednesday, according to exchange data. On the macroeconomic front, the Goods and Services Tax (GST) revenue for December rose by 7.3 percent, totalling Rs 1.77 lakh crore, compared to Rs 1.65 lakh crore in the same period last year. However, November's GST collection had been higher, standing at Rs 1.82 lakh crore, reflecting an 8.5 percent annual growth. The highest-ever GST collection was recorded in April 2024, at over Rs 2.10 lakh crore. (With inputs from PTI)
02 January,2025 09:58 AM IST | MumbaiIndian benchmark indices Sensex and Nifty opened lower on Wednesday, marking the first trading session of 2025. The downturn in the markets comes as persistent foreign fund outflows continue to negatively impact investor sentiment. Additionally, market participants remain cautious as they await the start of the earnings season next week. The 30-share BSE benchmark Sensex saw a decline of 171.81 points, settling at 77,967.20 despite a positive start to the trading session. Meanwhile, the NSE Nifty fell by 46.4 points to 23,598.40 after a muted opening. Among the 30 stocks listed on the Sensex, key laggards included ICICI Bank, UltraTech Cement, Adani Ports, Tata Steel, Axis Bank, Maruti, and Kotak Mahindra Bank. On the other hand, stocks such as Asian Paints, Larsen & Toubro, Bajaj Finance, Infosys, HCL Tech, and Bajaj Finserv witnessed gains. According to exchange data, Foreign Institutional Investors (FIIs) continued to offload equities worth Rs 4,645.22 crore on Tuesday, further weighing on market sentiment. Commenting on the market outlook, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “The New Year begins on a somber note for the Indian equity market. The near-term trend appears weak, with macroeconomic conditions dominated by sluggish GDP growth and earnings. Headwinds such as a strong dollar and high US bond yields are likely to affect the market through continued FII selling, at least in the early days of 2025. While DII buying may counterbalance FII selling, the current sentiment leans towards FIIs, as valuations remain high and growth and earnings have yet to show signs of recovery.” In global markets, US stocks ended lower on Tuesday, continuing a negative trend. Meanwhile, the global oil benchmark, Brent crude, gained 0.88 percent, rising to USD 74.64 per barrel. On Tuesday, the Sensex had dropped by 109.12 points, or 0.14 percent, to close at 78,139.01. The Nifty fell marginally by 0.10 points, settling at 23,644.80. Despite these early losses, 2024 saw positive growth overall, with the Sensex climbing 5,898.75 points, or 8.16 percent, and the Nifty rising by 1,913.4 points, or 8.80 percent, throughout the year. As per PTI reports, investors are awaiting more data to understand whether the market will recover or continue to be under pressure from these ongoing challenges. 9With inputs from PTI)
01 January,2025 11:01 AM IST | MumbaiThe Indian rupee fell by 5 paise to 85.69 against the US dollar in early trade on Wednesday, marking the first trading session of the year. The decline came as the American currency strengthened in global markets, coupled with persistent outflows of foreign funds, which pressured the rupee lower. Forex traders noted that the rise in the US dollar index (DXY) and the upward movement in US 10-year bond yields were contributing factors. These trends are largely attributed to the Federal Reserve's cautious stance, along with external factors such as the "Trump factor," influencing global market sentiments. The impact of these factors was felt as global trading volumes remained subdued due to the ongoing holiday season in major economies, including the UK and parts of Europe. At the interbank foreign exchange market, the rupee opened at 85.63 before slipping further to 85.69 against the greenback, reflecting a 5-paise dip compared to its previous close. On Tuesday, the rupee had depreciated by 12 paise, settling at a record all-time closing low of 85.64 against the US dollar. On December 27, the currency had hit its lifetime intraday low of 85.80. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, mentioned that the Reserve Bank of India (RBI) had supported the rupee at the 85.6450 level on Tuesday. He also highlighted that with US markets closed on Wednesday, there would be limited cash dollar demand, making a lower opening for the USD/INR an opportunity for importers to buy dollars for their payables. Bhansali suggested that the day’s trading range for the rupee could be between 85.40 and 85.70. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was recorded at 104.48. In global commodity markets, Brent crude futures were priced at USD 74.64 per barrel. On the domestic equity front, the 30-share BSE Sensex was trading lower by 127.91 points, or 0.16 per cent, at 78,011.10 points, while the Nifty dropped by 36.30 points, or 0.15 per cent, to 23,608.50 points. Foreign Institutional Investors (FIIs) were also active in the capital markets, offloading Rs 4,645.22 crore on a net basis on Tuesday, as per exchange data. On the economic front, the Centre’s fiscal deficit for the first eight months of the fiscal year 2024-25 reached 52.5 per cent of the full-year target, with the fiscal deficit standing at approximately Rs 8.47 lakh crore during the April-November period, according to data from the Controller General of Accounts (CGA).
01 January,2025 10:53 AM IST | MumbaiIndian stock markets opened on a positive note today, buoyed by optimism about a potential year-end rally. The Nifty 50 index opened at 23,801.40, gaining 51.20 points, or 0.22 per cent, while the BSE Sensex rose 135 points, or 0.17 per cent, to reach 78,607.58 points at the start of the trading session. Market experts have observed that, despite today's gains, the markets have struggled to sustain their rally in previous sessions, with foreign investors contributing to selling pressure. This trend is expected to persist until stronger earnings signals emerge. Akshay Chinchalkar, Head of Research at Axis Securities, noted, "The Nifty could not sustain its opening advance for the third straight day, as the market failed to break above the 200-day average. Support is seen between 23,500 and 23,640. A daily close above 24,150 is required to overcome the current nervousness." Sectoral performance at the NSE showed Nifty Auto leading with a surge of more than 1 per cent, while other indices also posted gains in the early session. Of the Nifty 50 stocks, 41 saw positive movement at the time of reporting, with only 9 declining. Among the top gainers were Bajaj Auto, Trent, IndusInd Bank, and Tata Motors, while Apollo Hospital, HCL Tech, TCS, and CIPLA were among the top losers in the opening session. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the ongoing market volatility, stating, "Short-term bumps on the economic growth path are causing corrections and market fluctuations. The biggest challenge for the market is FII selling, driven by a strong dollar and attractive US bond yields. A shift from FII selling to buying will occur once macro indicators point towards a recovery in growth and corporate earnings." As the nation pays tribute to Manmohan Singh, the architect of India's liberalisation, investors may reflect on the wealth created by the Indian stock market since liberalisation began in 1991. Asian markets also displayed mixed results: Japan’s Nikkei 225 index climbed 1.45 per cent, Hong Kong’s Hang Seng rose by 0.03 per cent, while Taiwan’s Weighted index gained 0.12 per cent. South Korea's KOSPI index, however, fell by 1.43 per cent. (With inputs from ANI)
27 December,2024 09:51 AM IST | MumbaiIndian equity benchmarks Sensex and Nifty surged in early trade on Thursday, propelled by a rally in blue-chip banking stocks and a positive trend across Asian markets. The 30-share BSE benchmark Sensex saw a sharp rise, jumping 425.5 points to reach 78,898.37, while the NSE Nifty gained 123.85 points, standing at 23,851.50. As per PTI reports, the rally was led by prominent banking stocks, with heavyweights such as State Bank of India, Axis Bank, ICICI Bank, and HDFC Bank among the major gainers. Other stocks from different sectors like Maruti, Mahindra & Mahindra, and Power Grid also witnessed positive momentum. These blue-chip stocks were seen to be the key drivers behind the early surge in the markets. On the other hand, a few stocks from other sectors struggled during the early session. As per PTI, Asian Paints, Tech Mahindra, Nestle, and Tata Consultancy Services were among the laggards, weighing on broader market sentiment. Asian markets were also trading in positive territory, contributing to the upbeat mood on Indian bourses. Key indices in Seoul, Tokyo, and Shanghai posted gains, which further boosted investor confidence in the Indian markets. However, the US markets were closed on Wednesday due to the Christmas holiday, which limited global cues for the day’s trading session. In line with the market surge, global oil prices also edged up. The global oil benchmark, Brent crude, increased by 0.41 per cent to USD 73.88 a barrel, which is being closely watched by investors due to its potential impact on inflation and energy costs. As per PTI, the Indian economy is showing signs of recovery from the slowdown witnessed in the September quarter. The recovery is attributed to strong festival activity and sustained rural demand, according to a recent bulletin released by the Reserve Bank of India (RBI). The central bank’s positive outlook on the economic rebound is believed to have given a further boost to market sentiment. Despite the positive early trends, foreign institutional investors (FIIs) offloaded equities worth Rs 2,454.21 crore on Tuesday, according to exchange data. The Indian stock markets had remained closed on Wednesday due to the Christmas holiday, which left investors eagerly awaiting today’s session to gauge market direction. In the previous session, the BSE index had declined by 67.30 points or 0.09 per cent, closing at 78,472.87, while the Nifty dipped 25.80 points, or 0.11 per cent, to end at 23,727.65. However, today’s strong early performance shows a reversal of the losses seen earlier this week, signalling positive investor sentiment in the markets. The outlook for Indian equities remains optimistic, with experts anticipating continued strength driven by domestic demand and improving global sentiment. (With inputs from PTI)
26 December,2024 10:57 AM IST | MumbaiThe Indian stock markets opened marginally higher on Tuesday as traders prepared for the Christmas holiday, but the outlook for a year-end rally continues to diminish due to ongoing market pressure. The Nifty 50 index opened at 23,769.10 points, with a slight gain of 15.65 points or 0.07 per cent. Similarly, the BSE Sensex opened at 78,707.37 points, marking a gain of 167.20 points or 0.21 per cent. However, the markets are grappling with consistent external pressures, making a sustained rally unlikely in the near term. According to market experts, two key factors are exerting pressure on the Indian stock markets: the strengthening US dollar and rising bond yields in the US. These factors have prompted foreign institutional investors (FIIs) to sell during rallies, dampening any immediate hopes of a bullish run. As a result, investors are advised to focus on safety over returns as the year-end approaches. Ajay Bagga, a banking and market expert, shared his thoughts with ANI, stating, "Today, the markets are showing a slight positive open in India. However, as we approach the end of the year, investors should be cautious and not fall for miscalculated certainty. It is essential to leave room for chance in your success." Sectoral performance was mixed at the opening, with only a few sectors registering gains. The Nifty Auto, Nifty FMCG, Nifty IT, Nifty Media, and Nifty PSU Bank indices saw positive movements, while most others faced downward pressure. Among the top gainers in the Nifty 50 list were Britannia, TCS, Tata Motors, Nestle India, and Hero Motors. On the other hand, losers included JSW Steel, IndusInd Bank, and Shriram Finance. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that while a relief rally was witnessed on Monday, the market's prospects remain restrained by both external and internal factors. "Externally, the strong dollar and high bond yields in the US will prompt FIIs to sell on rallies. Internally, the growth slowdown and earnings deceleration will also act as headwinds for the bulls," he explained. Vijayakumar further urged investors to prioritise safety in this volatile market environment. Globally, Asian markets displayed a mixed trend. While Japan’s Nikkei 225 and South Korea’s KOSPI saw losses, other markets, including Taiwan’s Weighted Index, Hong Kong’s Hang Seng, and Indonesia’s Jakarta Composite, experienced modest gains, reflecting the overall cautious sentiment in global markets. As the year draws to a close, market experts emphasise the importance of caution, advising investors to adjust their strategies according to the prevailing market conditions. (With inputs from ANI)
24 December,2024 10:11 AM IST | MumbaiThe Indian rupee fell by 5 paise to reach a new all-time low of 85.16 against the US dollar in early trade on Tuesday. The decline came as a result of a stronger American currency and ongoing outflows of foreign capital. According to PTI, the rupee opened at 85.10 against the greenback, but quickly slid further to hit the record low of 85.16, marking a loss of 5 paise from its previous close. The persistent demand for the US dollar, coupled with rising crude oil prices, significantly impacted the rupee's value. The volatile geopolitical environment has contributed to the upward momentum in crude oil prices, which in turn, exerted additional pressure on the Indian currency. Forex traders noted that despite the positive sentiment in the domestic equity markets, the rupee's decline continued as the dollar remained strong globally. The strength of the US dollar was reinforced by soaring US Treasury yields, which prompted foreign investors to adjust their portfolios, often resulting in profit-booking through the sale of Indian equities. As per PTI, the foreign institutional investors (FIIs) were net sellers in the capital markets on Monday, offloading shares worth Rs 168.71 crore. Meanwhile, the dollar index, which tracks the greenback's performance against a basket of six major currencies, was trading higher by 0.10 per cent at 107.92, supported by fears of delayed interest rate cuts by the US Federal Reserve. This, in turn, heightened demand for the dollar, adding to the pressure on the rupee. In addition to the strengthened dollar, the rise in Brent crude oil prices contributed to the rupee's depreciation. As per PTI, Brent crude futures rose by 0.30 per cent to USD 72.85 per barrel, further elevating concerns about India's trade balance and the impact on the rupee. On the domestic front, the equity market provided some relief as the Sensex was trading marginally higher by 15.97 points, or 0.02 per cent, at 78,556.14 points. The Nifty index also saw a slight gain of 13.70 points, or 0.06 per cent, to reach 23,767.15 points. Despite this, the negative external factors, including the strong US dollar, rising bond yields, and geopolitical instability, continued to weigh heavily on the Indian currency. The outlook for the rupee remains uncertain, with sustained capital outflows and a robust dollar providing little support for the local unit in the short term. (With inputs from PTI)
24 December,2024 09:32 AM IST | MumbaiAfter facing consecutive selling pressure over the past three trading sessions, Indian markets rebounded on Monday, with both the Nifty 50 and BSE Sensex indices marking significant gains. The Nifty 50 surged 150 points, or 0.64 percent, opening at 23,738.20 points, while the Sensex gained over 448 points to open at 78,490.19 points. Analysts observed that for this recovery to turn into a sustained rally, progress on inflation, further interest rate cuts, and a reduction in market volatility caused by global events—such as uncertainties surrounding former US President Donald Trump's political movements—are necessary. Nonetheless, the possibility of a year-end rally still remains. Ajay Bagga, a banking and market expert, stated, "The US rally on Friday is supporting Asian equities this morning. Short-term momentum is turning positive again, and we may see a year-end rally in the remaining seven working days of 2024. However, the broader trend remains challenging due to persistently high US bond yields." Sector-wise, the Nifty Metal index emerged as the top gainer among the NSE sectoral indices, with Nifty IT, Nifty Media, Nifty FMCG, and Nifty Pharma also seeing positive movements. As per ANI, the Nifty 50 witnessed 46 stocks advancing, while two stocks saw a decline, and two remained unchanged. JSW Steel, Hindalco, Shriram Finance, Trent, and HDFC Bank were among the top gainers, while the major losers included SBI Life, HDFC Life, Power Grid, and BEL. According to Akshay Chinchalkar, Head of Research at Axis Securities, "Support for the Nifty lies at 23,400, which was the target of the short-term head and shoulders pattern confirmed on 18th December. Below this level, the final support for the bulls would be at the November 21 low of 23,263. The three-day momentum is at a low, suggesting the likelihood of a rebound remains high." Asian markets also saw positive movements on Monday. The Nikkei 225 index climbed 0.88 percent, Taiwan's Weighted Index rallied by 2.55 percent, South Korea's KOSPI surged 1.57 percent, Hong Kong's Hang Seng gained 0.36 percent, and Indonesia's Jakarta Composite rose by 1.22 percent. The Nifty 50 had experienced a sharp 4.77 percent decline last week, marking its largest weekly drop of the year. The index had fallen from the 24,800 level, which now acts as strong resistance. According to Sunil Gurjar, SEBI Registered Research Analyst and Founder of Alphamojo Financial Services, "23,300 serves as a critical support level. A breakdown below this level would suggest a continuation of the downtrend." While Monday's recovery has raised hopes, market experts continue to monitor global economic conditions and domestic factors that will play a pivotal role in determining the trajectory of Indian equities (With inputs from ANI)
23 December,2024 10:11 AM IST | MumbaiThe Indian rupee experienced a minor recovery on Friday, appreciating by 6 paise to 85.07 against the US dollar in early trade. This comes after the rupee hit an all-time low of 85.13 on Thursday, underlining the ongoing pressure on the domestic currency. Forex traders indicated that the rupee is likely to remain in a weakening phase due to continued strong demand for the US dollar. The Dollar Index (DXY), which measures the greenback’s strength against a basket of six major currencies, is expected to stay elevated in the near term, with resistance near the 110 level. This follows reduced expectations for aggressive rate cuts by the US Federal Reserve in 2025, following its recent decision to lower rates by 25 basis points. On Wednesday, the Federal Reserve slashed interest rates by 25 basis points. However, the central bank’s forward guidance for 2025 has been softened, with expectations now lowered from four rate cuts to just two. This shift has further impacted the rupee, as traders adjust their expectations of future monetary policy actions. At the interbank foreign exchange market, the rupee opened at 85.07, marking a gain of 6 paise from its previous close. The domestic currency later traded at 85.10 against the dollar, remaining slightly above its historic low. On Thursday, the rupee fell by 19 paise, breaching the key 85.00 mark, and closed at an all-time low of 85.13. According to Amit Pabari, Managing Director of CR Forex Advisors, the Indian rupee is facing significant challenges from both global and local factors. While the Federal Reserve's cautious stance on rate cuts has led to a more than 1% correction in Indian equities, the Reserve Bank of India (RBI) appears limited in its ability to intervene effectively due to tightening liquidity in the banking system. Pabari predicted that in the short term, the USD/INR pair will likely consolidate within a range of 84.70 to 85.20. Meanwhile, the dollar index was trading 0.03% higher at 108.43, indicating further strength for the greenback. Brent crude, the global oil benchmark, fell by 0.62%, trading at USD 72.43 per barrel in futures. In the domestic equity markets, the 30-share benchmark Sensex was down by 145.13 points, or 0.18%, at 79,072.92, while the Nifty declined by 17.40 points, or 0.07%, to 23,934.30. Foreign Institutional Investors (FIIs) were net sellers on Thursday, offloading equities worth Rs 4,224.92 crore, according to exchange data. As per PTI, the rupee’s recent volatility is likely to continue, given the combination of global and domestic economic pressures. The currency is expected to remain sensitive to changes in US monetary policy, foreign fund flows, and global oil price fluctuations. (With inputs from PTI)
20 December,2024 10:20 AM IST | MumbaiADVERTISEMENT
