17
Tuesday
September 2019
9:55 AM IST
News Headlines
Pakistan recall Umar Akmal, Ahmed Shehzad for uncertain Lanka series        Kohli holds on to 2nd spot as Smith retains number one position in ICC Test Rankings        Steve Smith 'proud' after summer of Ashes redemption        Some 46,000 General Motors auto workers strike in US        Sensex cracks nearly 300 pts; oil and gas stocks tank        Trump to join Modi in Houston to address 50K Indian-Americans, says White House        Car bomb kills 11 civilians in northern Syria: monitor        PM to visit Narmada dam on b'day to mark highest water level feat        Bribery case: CBI inspector surrenders before ACB        Centre should release funds for MP flood relief: Scindia        Cong, NCP to contest 125 seats each in Assembly polls: Pawar        21 Indians killed in 2,050 ceasefire violations by Pak this year: MEA        Government to rebuild Palarivattom flyover        CM demands PSC questions in Malayalam        Sourabh wins Vietnam Open Super 100 title        England close in on Ashes-levelling win after Broad double        Air India posts Rs 4,600 cr operating loss in 2018-19; aims operating profit this fiscal        SBI to move RBI to offer fixed-floating rate home-loans: Chairman        Hong Kong returns to violence with tear gas and Molotovs        36 people missing after boat sinks in Congo river: DRC police        
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Business News
Rupee slips 18 paise to 69.69 vs USD on high dollar demand
 
Mumbai: The rupee Tuesday declined by 18 paise to close at 69.69 against the US currency, weighed down by month-end dollar demand from importers and rising crude oil prices.

Forex traders said that weakened Asian currencies also added to the pressure on the domestic unit.

However, gains in domestic equities supported the rupee and capped its losses to some extent, they added.

At the interbank foreign exchange (forex) market, the domestic currency opened lower at 69.68 per dollar and fell further to touch the day's low of 69.74. It finally settled at 69.69, down 18 paise over its previous close.

The rupee had settled at 69.51 against the US dollar Monday.

"Month end dollar demand from oil importers, weaker Asian currencies and probable foreign funds outflows by MSCI re-balancing dragged the rupee lower in Tuesday's trade," said V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities.

Going forward, the focus will be on RBI monetary policy outcome scheduled on June 6, on GDP data and manufacturing activity numbers scheduled on Friday this week.

Brent crude futures, the global oil benchmark, climbed 0.53 per cent to USD 70.48 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 97.77.

Meanwhile, government bonds rose, leading to 0.39 per cent drop in the yield to 7.14 per cent.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,215.36 crore Monday, as per provisional data.

Continuing their record-setting spree for a third day in a row, domestic equity benchmarks Sensex and Nifty Tuesday hit fresh closing highs on sustained foreign fund inflows coupled with positive domestic cues.

After swinging over 300 points in a highly volatile session, the 30-share index ended 66.44 points, or 0.17 per cent, higher at 39,749.73 -- its all-time closing high. Likewise, the broader NSE Nifty inched 4 points, or 0.03 per cent, higher to 11,928.75 -- another closing peak for the index.

Meanwhile, Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.4327 and for rupee/euro at 77.8220. The reference rate for rupee/British pound was fixed at 88.4795 and for rupee/100 Japanese yen at 63.38.


Some 46,000 General Motors auto workers strike in US
Sensex cracks nearly 300 pts; oil and gas stocks tank
Air India posts Rs 4,600 cr operating loss in 2018-19; aims operating profit this fiscal
SBI to move RBI to offer fixed-floating rate home-loans: Chairman
Inflation under control, clear signs of revival in factory output: FM
China to lift punitive tariffs on US soybeans, pork
Exports decline 6 pc; imports dip 13.45 pc
Retail inflation inches up to 10-month high of 3.21 pc in August
India & Qatar to focus on hydrocarbon sector: Pradhan
Samruddhi Corridor: MSRDC ties up loans of Rs 28,000 crore
Just 19 pc employers in India bullish on hiring in Oct-Dec qtr: Survey
Alibaba's Ma steps down as industry faces uncertainty
Ahead of festivals, SBI again cuts lending rates by 10 bps
Sensex drops over 150 pts; bank, auto stocks drag
15th Finance Commission holds meeting with Raj bodies, industry
PNB puts up for sale 11 NPA accounts to recover dues of Rs 1,234 cr
States to be key drivers of growth for making India USD 5 trillion economy: Niti CEO
FinMin sets up task force to identify infra projects for Rs 100 lakh cr investment
To create jobs, C'garh govt reduces land rates for industries
India's domestic market for computer services to grow faster than exports: UN report
KERALA NEWS
Government to rebuild Palarivattom flyover
 Thiruvananthapuram: The state government has decided to demolish and rebuild Palarivattom flyover as  
CM demands PSC questions in Malayalam
Tipplers guzzle Rs 487 crore worth liqour during onam
candidate selection for Pala by-election is an internal matter of KC(M): Chandy
INTERNATIONAL NEWS
Trump to join Modi in Houston to address 50K Indian-Americans, says White House
 Washington: US President Donald Trump will join Prime Minister Narendra Modi at Houston's mega "Howd
Car bomb kills 11 civilians in northern Syria: monitor
Hong Kong returns to violence with tear gas and Molotovs
36 people missing after boat sinks in Congo river: DRC police
NATIONAL NEWS
PM to visit Narmada dam on b'day to mark highest water level feat
 Ahmedabad: Prime Minister Narendra Modi, who turns 69 on Tuesday, will visit the site of the Gujarat
Bribery case: CBI inspector surrenders before ACB
Centre should release funds for MP flood relief: Scindia
21 Indians killed in 2,050 ceasefire violations by Pak this year: MEA
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