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FIIs turning positive boosts stock markets
Domestic equities continued its northbound journey on the back of positive global cues and better than expected 1QFY23 earnings. Nifty opened higher and sustained momentum to close near day's high with gains of 114 points (0.7 per cent) at 16,719. Barring IT, pharma and oil & gas, all other sectors ended in green with banking and financial services being top gainers, up more than 1 per cent.
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'Rupee could break Rs 80 mark against dollar next week'
"Rupee traded in a range between 79.80 and 79.98. As dollar index traded in a range, broadly the trend for dollar is positive till the time it is above $105... next hurdle for dollar can be seen around $110, hence rupee can be seen weak... the trend continues towards 80.50," Trivedi said. He said the Rs 79.25 mark will act as resistance for rupee and break above Rs 79.25 will trigger short covering for rupee.
Indian rupee weakens against dollar
The rupee movement against the dollar will be triggered by the inflation numbers of the US which are expected to be out later on Wednesday. "Rupee traded with minor losses falling below 79.65 as the dollar index traded positive above $108 rupee range can be seen between 79.25-79.75," said Jateen Trivedi, Vice President, Research Analyst, LKP Securities.
Small-cap indices witness sharp correction from the highs of Oct'21
While the Nifty-50 declined 15 per cent from its October 2021 peak against a 20 per cent decline in midcaps and 28 per cent decline in smallcaps, the broader market has witnessed a much sharper sell-off. NSE Smallcap 100 index is down even vs December 2017 levels as per a report by Motilal Oswal Financial Services. India has outperformed key global markets in June'22 amid various challenges.
Markets looking for a trend
BSESENSEX gained 179.95 points or 0.34 per cent to close at 52,907.93 points while NIFTY gained 52.80 points or 0.34 per cent to close at 15,752.05 points. The broader indices saw BSE100, BSE200 and BSE500 gain 0.32 per cent, 0049 per cent and 0.55 per cent respectively. BSEMIDCAP was up 0.26 per cent while BSE SMALLCAP gained 1.17 per cent.
Indian rupee slips to 78.68 against US dollar
The Indian rupee opened at Rs 78.50 and went down to touch a fresh record low of 78.68 against the dollar. As crude prices increase, the rupee may further slip down, analysts said. The Reserve Bank of India (RBI) intervened by selling dollars to stabilise the rupee rate but the demand for the US currency was high.
Equity indices settle sharply low, Sensex down over 1K points
Sensex closed at 51,495.79 points, down 1,045.60 points, or 1.99 per cent, whereas Nifty closed at 15,360.60 points, down 331.55 points, or 2.11 per cent. The decision by the US Federal Reserve to raise the interest rate by 0.75 percentage points, the highest on-shot increase since 1994, to tackle inflation that is at its highest in 40 years, also weighed on the stocks.
Indian private equity investments reach $70 billion in 2k deals in 2021
Indian investments grew by 96 per cent over 2020 (excluding the mega deals of Jio Platforms and Reliance Retail). Much of the deal activity was in consumer tech and IT/ITES sectors. The two sectors combined represented more than 60 per cent of the year's deal value, at nearly $44 billion, according to the annual India Private Equity Report 2022 by Bain & Company.
Equity indices settle marginally low amid volatile trade
With Tuesday's slump, the indices declined for the seven out of the past eight sessions. Sensex closed at 52,693.57 points, down 153.13 points or 0.29 per cent, whereas Nifty closed at 15,732.10 points, down 42.30 points or 0.27 per cent. Any steep fall in the indices during the session was arrested due to a moderation in retail inflation in India in the month of May.
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