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Rupee trades lower at 72.05 per dollar

After a flat opening the Indian rupee is trading lower by 13 paise at 72.05 per dollar on Monday versus previous close 71.92. The dollar-rupee November contract on the NSE was at 71.99 in the previous session. November contract open interest declined 5.66% in the previous session, said ICICIdirect. We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added. INTRADAY FUTURE TIPS

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Wall Street Week Ahead: Investors eye holiday sales for market salve

Investors will get a glimpse of consumer health next week as the holiday shopping season gets under way with Black Friday sales, and a solid start could help equities steady after several tumultuous weeks. The day after Thanksgiving has been regarded as the traditional start of the holiday buying season, although deals and bargains are being unveiled earlier this year. Wall Street has been struggling with uncertainty over U.S. congressional midterm elections, the path of interest rate hikes by the…

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Sensex gains 200 points; Yes Bank, ONGC decline

Equity benchmark indices extended gain in the morning trade on Friday led by healthcare, auto, FMCG and consumer durables stocks. However, oil & gas, infrastructure, metal and PSU banks were under selling pressure. Sun Pharma, Axis Bank, M&M, TCS and Asian Paints were the top gainers in today’s session, while the major losers were Yes Bank, ONGC, Adani Ports, Infosys and Tata Steel on the Sensex. The Sensex was trading higher 216 points at 35,476 and the Nifty up 57…

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Rupee rises to 72.13 against US Dollar in early trade

The Indian rupee opened higher in the morning session on fresh foreign fund inflows and easing crude oil prices. Currently, the rupee is trading higher at 72.13. The local currency opened higher by 25 paise at 72.05 against the greenback. Besides, the dollar’s weakness against some currencies overseas also supported the domestic unit. On the economy front, India’s inflation based on wholesale prices rose to a four-month high of 5.28% in October, mainly due to a spike in petrol and…

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Top stocks in focus today: Zee, Hindalco, M&M, Grasim

The promoters of Zee Entertainment Enterprises will sell up to 50% of their stake in the company to a strategic partner. Ashok Leyland’s MD & CEO Vinod K.Dasari to resign from company effective March 31, 2019. Dheeraj Hinduja will step in as executive chairman with immediate effect. PNB Housing Finance stock in focus today. QIH withdrew from the joint sale process in which the company along with Punjab National Bank were proposing to sell 51% stake in the housing finance…

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UCO Bank asks govt to inject Rs7,000cr to shore up capital

State-owned lender UCO Bank has asked the government to infuse Rs7,000cr to bolster the company’s capital, which has slid below the regulatory minimum. In the recently announced results, for the September quarter, the bank’s capital adequacy ratio dropped to 7.57% against the postulated 9%, while its net loss widened to Rs1,136cr on rising bad loans worth Rs2,000cr. The bank assumed that the government will infuse fresh capital by March. However, there was no confirmation from the government on the size…

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Rupee appreciates 50 paise against US Dollar on Friday

The Indian rupee ended on a strong note, up by 50 paise against the dollar to close at 72.50. Besides, the dollar, which had weakened following the US midterm election results, staged a recovery after the Federal Reserve kept interest rates unchanged but indicated a hike next month. RBI’s reference rate for the dollar stood at Rs72.73, while for the euro, it was at Rs82.51. Further, its reference rate for the yen stood at Rs63.84, while that for the British…

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Nifty ends lackluster session at 10,500

Markets witnessed a sideways consolidation on Monday after the sharp surge in Friday’s trading session. Nifty ended the day 29 points lower at 10,524, managing to end above the psychological level of 10,500. Bank Nifty relatively outperformed and ended 30 points higher at 25,732 led by strong gains in PSU bank stocks, especially SBI, which ended the day 3.36% higher. Tracking the derivative data points, both Nifty futures and Bank Nifty futures witnessed a surge in open interest to the…

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Rupee opens weak at 72.80 per dollar

The Indian rupee opened lower by 36 paise at 72.80 per dollar on Monday versus Friday’s close 72.44. On Friday, rupee surged following broad weakness in the dollar and sharp fall in global crude oil prices. Crude fell to the lowest level since April, due to growing concerns that global demand is weakening at a time when output from the world’s major oil producers is surging. Oil has also been under pressure on growing concern over a possible slowdown in…

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Nifty, Bank Nifty jump over 5% amid falling oil prices and strengthening rupee

Markets staged a strong relief rally during the week as the Sensex, Nifty, and Bank Nifty registered their biggest weekly gains since May 2016. Falling crude oil prices and a strengthening Indian rupee were the main factors that lifted sentiments on Dalal Street. Investor sentiment also got a fillip after index heavyweights like Hindalco, L&T, Tech Mahindra, and HCL Tech announced better-than-expected results for Q2FY19. Tata Motors, HPCL, IOC, and Vedanta, on the other hand, came out with disappointing quarterly earnings.…

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