Indian indices may witness a flat to negative start on Thursday. The indices snapped their four-day gain on Wednesday amid weak global market trends and inflation concerns. Stock indexes on Wall Street ended mostly lower in the overnight session after another choppy day of trading as the market heads toward its fourth monthly loss this year. In Asia, shares declined in Japan, South Korea, and Australia, while they advanced in Hong Kong and Shanghai.
Rupee rises 13 paise to 78.90 against US dollar in early trade
Recovering from its record low, the rupee appreciated 13 paise to 78.90 against the US dollar on Thursday.
At the interbank foreign exchange, the rupee opened at 78.92 against the American dollar. In initial trade, the local currency witnessed a high of 78.90 and a low of 78.94 against the US dollar.
In the previous session, the rupee had closed at its all-time low of 79.03 against the US dollar.
According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the range for the rupee today is 78.65-79.05.
Realty index drops over 1%
Top BSE losers in morning trade
Rakesh Jhunjhunwala portfolio stock gives breakout. Should you buy now?
Rakesh Jhunjhunwala portfolio: The GST Council on Wednesday deferred the proposal to levy 28 per cent GST (Goods and Services Tax) on online gaming, casino and horse racing. After the announcement by the Government of India (GoI) about its decision on tax proposals, Delta Corp shares started surging northward as the company has strong exposure in casino business. The Rakesh Jhunjhunwala-backed company’s stock ended near 2 points higher at ₹181.40 apiece levels on NSE giving fresh breakout at ₹178 levels.
How can investors deal with crypto selloffs? A few tips from experts
When Doug Milnes started buying cryptocurrencies in January of this year, he felt like it could become an entirely new asset class for investors. Right now what it is making him feel is extremely unsettled.
Indian Oil shares rise as stock trades ex-bonus
Oil marketing company Indian Oil Corporation (IOC) shares surged more than 2% to ₹74.8 apiece on the BSE as the stock started trading ex-bonus in Thursday’s session, a day ahead of its record date for the 1:2 bonus shares issue.
Top Sensex gainers in early trade
BSE indices in early morning trade
Can Indian IT giants avoid the breakups done by IBM and Atos?
The big boys of Indian IT have steered well through the last three decades. But they need to be more agile to avoid facing the ignominy of separations made by their larger western peers
Nifty50 rises above 15,800; Kotak Bank, Britannia, Tata Motors top gainers, Cipla top loser
Sensex jumped around 200 points after opening flat
Nifty50 at pre-open: Trades around 15,775; Titan, Asian Paints top losers
Sensex at pre-open: Slips around 150 points; HDFC twins drag
Sun TV under F&O ban on NSE today, Delta Corp out
Only one stock has been put under the ban for trade on Thursday, June 30, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.
Multibagger Adani stock gives 183% CAGR over 4 years. ₹1 lakh turns ₹64 lakh
Multibagger stock: Adani Green Energy shares are one of the multibagger stocks that Indian stock market has produced in last one year. This has become possible despite global economy reeling under the heat of Covid-19 pandemic. After closing at ₹882 levels on 30th July 2021, this multibagger Adani group stock closed at ₹1899 per share levels on 29th June 2022, giving more than 100 per cent return to its shareholders.
Cryptocurrency prices today: Bitcoin, ether fall while dogecoin, Shiba Inu, Uniswap gain
Cryptocurrency prices continued to decline with the world’s largest and most popular cryptocurrency Bitcoin falling over a per cent and was trading at $20,069. The global cryptocurrency market cap today was below the $1 trillion, and was down over 3% in the last 24 hours to $929 billion, as per CoinGecko.
Day trading guide for Thursday
6 stocks to buy or sell today — 30th June
Gold inches higher; set for worst quarter in five as dollar shines
Gold firmed on Thursday as US Treasury yields dipped, but faces its worst quarter since early 2021, as the dollar cemented its place as the safe-haven asset of choice, amid top central banks adopting aggressive tactics against runaway inflation. Spot gold was up 0.1% at $1,818.31 per ounce by 0115 GMT. US gold futures also firmed 0.1% to $1,819.70. Benchmark US 10-year Treasury yields inched down, increasing the appeal of non-yielding gold. The dollar ticked up towards recent two-decade peaks, and could record its best quarter in over five years, making gold less attractive for buyers holding other currencies. *
Rupee slides 18 paise to close at all-time low of 79.03 against US dollar
Falling for the fourth session in a row, the rupee slid by 18 paise to close at a record low of 79.03 against the US dollar on Wednesday, weighed down by a rise in crude oil prices, a strong dollar overseas and persistent foreign capital outflows.
At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled at 79.03, down 18 paise over its previous close.
During the session, the rupee touched an all-time low of 79.05 against the American currency.
Sundram Fasteners plans to invest ₹100 cr in defence biz vertical
Auto component maker Sundram Fasteners plans to invest ₹100 crore in its defence business vertical in the next two years, company’s chairman Suresh Krishna said on Wednesday.
Addressing the shareholders at the company’s 59th Annual General Meeting in Chennai, Krishna stated that he expects the domestic automobile sector to grow in double digits across segments this fiscal after two years of sluggishness, according to a company statement.
The company has been devising plans and broad-basing the product segments to increase its revenues, exports and profits considering the need for faster growth and to ensure consistent performance under economic cycles, he said.
Indiabulls Housing Finance skips call option on perpetual bonds
Indiabulls Housing Finance Ltd., one of India’s leading mortgage lenders, decided not to redeem its rupee-denominated perpetual bonds as refinancing costs rise at the fastest pace in at least two decades.
The financier had issued the so-called hybrid notes, with characteristics of debt and equity, in June 2012 with an option to redeem them 10 years later. But, the company chose not to call the 10.6% notes back on June 28 and instead paid interest on these securities a day prior.
“The implied cost of equity for non-bank lenders has increased in the last year owing to rising interest rates and capital outflows,” a spokesperson for the company said. “These perps are attractively priced for investors, and the company’s cost will be higher currently if it were to replace this with equity.”
RBI battles against rupee’s slump with multi-pronged strategy
The Reserve Bank of India (RBI) is fighting on several fronts to slow the rupee’s decline to fresh records, with little respite in sight.
Read More: Market Live: Sensex turns flat amid volatility, Nifty above 15,800; Realty drags