19
Saturday
October 2019
7:58 PM IST
News Headlines
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha        PM Modi has no understanding of economy: Rahul        INX Media: Chidambaram conspired with son, misused official position, says CBI charge sheet        US dream shattered, 311 Indians land in Delhi after deportation from Mexico        US to host 2020 G7 summit at a Trump golf resort        Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria        Twin blasts in Afghanistan''s mosque kill 62        China''s Q3 GDP growth slows to 6%, slowest in 27 years        Ranchi Test: India eye clean sweep against Proteas        Pakistan sacks Sarfaraz as captain in Test, T20I formats        Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt        BSF jawan killed, 1 injured in firing by Bangladeshi troops along border in West Bengal        At least 35 people killed in bus accident in western Saudi Arabia        UK, EU hail new Brexit deal, but Parliament sign-off hangs in balance        Nearly 100 people injured in Catalonia unrest on Wednesday: Medics        Indo-Pak bilateral ties subject to approval from PMs of both countries: Ganguly        Aiden Markram ruled out of Ranchi Test with wrist injury        Indian challenge ends at Denmark Open        Aussie cricketer Watson apologies for 'illicit' social media posts        India's performance was no match to atmosphere at Salt Lake: Chhetri        
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Business News
Rupee recovers from day''s lows, settles 20 paise higher at 70.87
 
Mumbai: The Indian rupee recovered from the day''s lows and settled higher by 20 paise at 70.87 to the US dollar on Thursday, helped by weakening of the greenback overseas and easing crude oil prices. However, sustained foreign fund outflows and sell-offs in domestic equities put pressure on the forex market, somewhat capping the rupee gains.

At the interbank foreign exchange market, the rupee opened weaker at 71.22 a dollar. It fell further to the day''s low of 71.35, before recouping losses to touch a high of 70.86. The local unit finally settled at 70.87, up 20 paise against its previous close. The Indian rupee on Tuesday had closed at 71.07 against the US dollar. Forex market was closed on Wednesday on account of Mahatma Gandhi Jayanti. "Indian rupee has recovered from morning lows of 71.35 a dollar and last quoted at 70.93 a dollar with the gain of 15 paise amid foreign fund flows in Primary market and lower dollar index," said V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.

Sharma further noted that "ongoing IPO, IRCTC has received good response from Institutions. Asian currencies are trading higher following weaker economic data". The initial public offering of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 77.91 times so far on the final day of bidding on Thursday. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 810.72 crore on Thursday, exchange data showed. Brent futures, the global oil benchmark, dropped 0.28 per cent to USD 57.53 per barrel. The dollar index, which gauges the greenback''s strength against a basket of six currencies, fell 0.07 per cent to 98.95. The 10-year government bond yield was at 6.61 per cent on Thursday.

"India''s bonds advance for a third day amid bets the central bank will cut interest rates when it meets Friday. A decline in U S Treasury yields is also supporting sentiment," Sharma said. Experts believe the Reserve Bank of India is likely to go for yet another rate cut at the fourth bi-monthly monetary policy for 2019-20 on Friday. On the domestic market front, the 30-share BSE Sensex swung between a high of 38,310.93 and a low of 37,957.56, before settling at 38,106.87, showing a decline of 198.54 points or 0.52 per cent. Likewise, the 50-share NSE Nifty closed down by 46.80 points or 0.41 per cent at 11,313.10.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.9109 and for rupee/euro at 77.1752. The reference rate for rupee/British pound was fixed at 87.0554 and for rupee/100 Japanese yen at 65.49.


China''s Q3 GDP growth slows to 6%, slowest in 27 years
High-level Indian, Bangladeshi delegations to meet next week
Adani Wilmar launches ready-to-cook ''Khichdi''
Sebi levies Rs 30 lakh fine on 4 firms for fraudulent trading
HAL employees' strike continues, unions reject mgmt
Rupee slips 20 paise to 71.22 vs USD in early trade
SBI lowers rates on non-repo-linked loans by 10 bps
Sensex, Nifty cautious in early trade amid weak global cues, fund outflows
New IMF chief says trade tensions could cut global GDP by 700 bln USD
Sitharaman to inaugurate national tax e-assessment centre on Monday
FinMin to kick-start budgetary exercise from Oct 14
Andhra Bank opens SGB scheme 2019-20 Series-V
Migsun Group to invest Rs 900 crore on housing project in Ghaziabad
RBI rate cut to complement government's measures to boost growth: Finmin
RBI's rate cut reflects India's ambition to boost economic growth: Niti
Maruti Suzuki''s NEXA touches one million hearts
34 functional teams to smoothen merger of UBI, PNB, OBC
PMC case: ICAI to check role of auditors
RCEP trade ministers to meet in Bangkok on Oct 10-12
Ashok Leyland sales dips 55 pc in Sep at 8,780 units
KERALA NEWS
Netherlands'' King Willem-Alexander , Queen Maxima, gets warm welcome in Alappuzha
 Alappuzha: Netherlands'' King Willem-Alexander and Queen Maxima, who are on a two-day visit to Keral  
Scribe's death:Kerala IAS officer's suspension extended
Kerala's CPI to discuss Vedas and Marxism in seminar
Kerala Assembly session from Oct 28
INTERNATIONAL NEWS
US to host 2020 G7 summit at a Trump golf resort
 Washington: The G7 Summit in 2020 would be held at President Donald Trump''s golf resort in Florida
Trump speaks over phone with Turkey''s Erdogan over cease-fire in Syria
Twin blasts in Afghanistan''s mosque kill 62
At least 35 people killed in bus accident in western Saudi Arabia
NATIONAL NEWS
PM Modi has no understanding of economy: Rahul
 Mahendragarh: Congress leader Rahul Gandhi on Friday alleged that Prime Minister Narendra Modi has n
US dream shattered, 311 Indians land in Delhi after deportation from Mexico
Mentally-unstable man jumps inside lion enclosure in Delhi zoo, escapes unhurt
Senior Odisha BJP leader Damodar Rout quits party
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