19
Saturday
October 2019
8:01 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 stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices
 
Mumbai: Snapping its two-day falling streak, the rupee rebounded 54 paise to finish at 71.24 against the US dollar on Wednesday as sliding crude oil prices eased pressure off emerging market currencies. However, unabated foreign fund outflows capped the gains, forex traders said. Global equities and oil markets stabilised after Saudi Arabia''s energy minister said production capacity at its plant targeted by drone attacks over the weekend would be fully restored by the end of the month. At the Interbank Foreign Exchange, the rupee opened at 71.47 and surged to an intra-day high of 71.17 against the US dollar.

The local unit finally settled at 71.24, higher by 54 paise over its previous close of 71.78. "Indian rupee led gains in emerging market Asian currencies as crude prices eased after Saudi Arabia partially restored production at its damaged oil plant," HDFC Securities Head PCG and Capital Markets Strategy V K Sharma said. Sharma further said lower crude oil prices calmed concerns about inflation and the fiscal side which will provide room for the RBI to lower interest rate in the coming October meet. The Reserve Bank of India, which has already reduced the key policy rate four times in the current calendar year, is scheduled to announce its next bi-monthly monetary policy on October 4.

Market participants were also awaiting cues from the much-anticipated policy meeting of the US Federal Reserve, traders said. Meanwhile, crude oil benchmark, Brent Futures on Wednesday witnessed some moderation and was trading at USD 64.32 per barrel, down 0.36 per cent. Foreign institutional investors (FIIs) offloaded equities worth a net Rs 959.09 crore on Wednesday, provisional exchange data showed. On the domestic markets front, the 30-share BSE Sensex ended 82.79 points, or 0.23 per cent, higher at 36,563.88. Similarly, the broader NSE Nifty gained 23.05 points, or 0.21 per cent, to finish at 10,840.65.

The 10-year government bond yield was at 6.62 per cent. The dollar index, which gauges the greenback''s strength against a basket of six currencies, rose by 0.20 per cent to 98.46. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.8196 and for rupee/euro at 78.9613. The reference rate for rupee/British pound was fixed at 89.1219 and for rupee/100 Japanese yen at 66.36.


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
Rupee recovers from day''s lows, settles 20 paise higher at 70.87
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
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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