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Monday
August 2020
11:48 PM IST
News Headlines
NIA arrests six more people and conducts searches at 6 places in Kerala gold smuggling case        Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case        Kerala crosses 25,000 COVID-19 cases as 1,169 test positive        Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal        Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram        International passengers with negative COVID-19 test report can skip institutional quarantine: Govt        High time Mehbooba Mufti is released, says Rahul Gandhi        Death toll in Punjab spurious liquor tragedy rises to 104        Trump Says Federal Government Should Seek Death Penalty For Boston Bomber        Khamenei''s top aide praises Turkey''s Hagia Sophia move        IPL GC Meet: Final on Nov 10, Chinese sponsors intact, COVID replacements allowed        2nd ODI: Bairstow, Rashid shine in England''s 4-wicket win over Ireland        Kerala''s COVID-19 tally inching towards 25,000 mark, 1129 ccases, death toll climbs to 82        Kerala police SI dies of COVID-19; first from the force to succumb to the virus        If high command forgives rebels, I will welcome them back: Gehlot        Former SP leader and Rajya Sabha MP Amar Singh dies at 64        Wild fire: 200 homes evacuated in Southern California        Emirati nuclear plant successfully starts up first reactor        Ready to push for continued advancement of China-Nepal ties: Xi        Some 17,000 people hit streets of Berlin to protest COVID-19 measures        
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Business News
Rupee cuts short 5-day gaining streak; edges down 1 paise to 70.87 against dollar
 
Mumbai: Snapping its five-day winning run, the rupee on Tuesday slipped by 1 paise to close at 70.87 against the US dollar ahead of the signing of the US-China trade deal and weak macro economic data on the domestic front.

The domestic currency had opened on a strong note in line with other Asian peers after the US on Monday removed the currency manipulator label it imposed on China last summer.

However, weak macro data weighed, rising crude oil prices and strengthening of the American currency in the overseas market dragged the domestic unit lower.

"Higher than expected retail and wholesale inflation weighed on Indian bond as MPC may pause rate in coming meeting. The benchmark 10 year bond yield jumped 6 bps to 6.65 per cent," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities.

Wholesale inflation surged to an eight-month high of 2.59 per cent in December as against 0.58 per cent in November due to sharp rise in prices of food articles.

Retail inflation jumped sharply to 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to high food prices.

"Rupee after rising for fifth successive session fell against the US dollar following slowing FII fund inflow," said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.

Foreign investors offloaded equities worth Rs 205 crore on net basis on Tuesday, provisional exchange data showed.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 97.41.

Brent crude futures, the global oil benchmark, rose 0.64 per cent to trade at USD 64.61 per barrel.

The 10-year government bond yield was at 6.67 per cent on Tuesday.

On the domestic market front, the 30-share BSE Sensex hit life-time high of 41,994.26 in day trade. It finally settled 92.94 points or 0.22 per cent higher at 41,952.63 - its all-time closing high.

The broader Nifty scaled its lifetime high (intra-day) of 12,374.25, before ending 32.75 points, or 0.27 per cent, higher at 12,362.30 -- a record closing level.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.8115 and for rupee/euro at 78.8019. The reference rate for rupee/British pound was fixed at 92.2598 and for rupee/100 Japanese yen at 64.59.


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Rupee slips 9 paise to 75.02 against USD
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KERALA NEWS
Kerala crosses 25,000 COVID-19 cases as 1,169 test positive
 Thiruvananthapuram: Kerala on Sunday crossed the 25,000 mark in COVID-19 cases as 1,169 more people  
Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal
Kerala police SI dies of COVID-19; first from the force to succumb to the virus
Kerala reports 1,310 COVID-19 cases; 3 deaths takes toll to 73
INTERNATIONAL NEWS
Trump Says Federal Government Should Seek Death Penalty For Boston Bomber
 WASHINGTON: US President Donald Trump says the federal government must seek the death penalty for Bo
Khamenei''s top aide praises Turkey''s Hagia Sophia move
Wild fire: 200 homes evacuated in Southern California
Emirati nuclear plant successfully starts up first reactor
NATIONAL NEWS
Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case
 New Delhi: Union Minister V Muraleedharan on Sunday observed a day-long fast at his residence here d
Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram
International passengers with negative COVID-19 test report can skip institutional quarantine: Govt
High time Mehbooba Mufti is released, says Rahul Gandhi
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