Mumbai

Rupee at four-week high of 62.35 against dollar

Mumbai - The rupee strengthened by 32 paise at over four-week high of 62.35 against the dollar in early trade today at the Interbank Foreign Exchange on sustained selling of the US currency by exporters and banks amid higher opening in the domestic equity market.

Forex dealers said besides increased selling of the American currency by exporters and banks and a higher opening of the domestic equity market, the dollar's weakness against other currencies overseas, supported the rupee.

Yesterday, the rupee jumped 50 paise to close at 62.67 against the Greenback on persistent selling of dollars by banks and hopes of capital inflows in view of a strong equity market.

India's sovereign rating upgrade likely in 2015: Report

Deutsche BankMumbai : Improving external balances and government actions may drive a sovereign rating upgrade for the country during the current calendar year, according to a report by Deutsche Bank (DB).

It was despite the fact that market was not yet factoring in a rating upgrade, the report said.

"We assign a high likelihood of a sovereign ratings upgrade for India as most macro indicators have exhibited improvements in past two years," DB Group managing director, head of research, Abhay Laijawala said while unveiling 'India equity strategy: 2015 outlook' here Thursday.

The rating upgrade for the country will happen shortly, however, it will depend on the forthcoming annual Budget, he said.

Rupee up 10 paise to 63.47 against dollar in early trade

Mumbai - The rupee gained 10 paise to 63.47 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on fresh selling of the US currency by exporters.

Forex dealers said besides selling of the American currency by exporters and banks, a higher opening in the domestic stock market supported the rupee but the dollar's strength against other currencies overseas, limited the gains.

The rupee had ended with a fall of 16 paise at over one week low of 63.57 against the Greenback in yesterday's trade.

Meanwhile, the benchmark BSE Sensex today rose by 50.05 points, or 0.19 percent, to trade at 27,037.51 in early trade. PTI

Stability is returning back in stock market, say expert

Mumbai, Jan. 7 - The Market Expert Sunil Shah on Wednesday said that after a huge cut in the stock market yesterday, it seems like stability is returning back.

"After a huge cut yesterday, what we saw on capital stock markets of our country, today it seems like stability is returning back. As I am talking to you the BSE is in green, it is up by 45 points," Shah said.

"What we saw in the market is that even the Asian markets are also stable. There is no deep cut in any of the markets. I would say that stability is coming back to the global capital markets," he added.

Shah also said that the European market opening later in the day will also have a bearing on our markets.

Vikram took five hours a day for his 'Ogre' look in 'I'

VikramMumbai: Tamil star Vikram took almost five hours everyday to transform himself into a man-like monster in his upcoming film 'I'.

Vikram, 48, plays two characters in the film-- one of a normal man and other of a creature, which closely looks like an Ogre. His makeup was done by Hollywood's Weta workshop, who have done make up for films 'The Hobbit' and 'Lord of the Rings'.

'I', also starring Amy Jackson, is being dubbed in Telugu, Hindi and many other foreign languages.

The movie has been shot mainly in China. Further schedules were filmed in locations in Chennai, Bangkok, Jodhpur, Bangalore and Mysore.

Sensex regains 28,000-mark; Nifty above 8,400 level

Mumbai - The benchmark BSE Sensex reclaimed 28,000-level for the first time since December 9 and the NSE Nifty shot up by 22 points to trade above 8,400-mark in trade Monday on sustained fund inflows.

Rising for the seventh straight session, the 30-share index went past 28,000 mark after over three weeks by rising 122.45 points, or 0.44 percent, to 28,010.35.

The gauge had gained almost 680 points in the past six sessions.

All the sectoral indices, led by capital goods, metal and auto, were trading in positive zone with gains up to 1.18 percent.

On similar lines, the 50-share NSE Nifty gained 22.00 points, or 0.26 percent, to trade above the 8,400-level at 8,417.45.

Rupee down 21 paise to 63.50 against dollar

Mumbai - The rupee lost 21 paise to Rs 63.50 against the US dollar in early trade Monday at the Interbank Foreign Exchange due to rise in the greenback's value against other currencies overseas.

Dealers attributed the fall in rupee to dollar's gains against the euro which fell to a nine-year low; but a higher opening in the domestic stock market limited the fall of the domestic currency.

The Indian rupee had ended 6 paise higher at 63.29 against the greenback on Friday, helped by selling of dollars by banks and exporters amid hopes of more foreign capital inflows into the equity market.

Stock markets gain over 2% this week on hopes of more reforms

Mumbai - The benchmark BSE Sensex settled at a four-week high while NSE Nifty surged to near 8,400 levels this week on hopes of much-awaited sectoral reforms and encouraging manufacturing output data for December.

Only two-days of the week witnessed a tepid trading hindered by weak-sentiment over political uncertainty in Greece as well as liquidity drench following lack of major foreign funds inflow due to New Year holidays in most of the global market.

However, investors sentiments underpinned by optimism over the government growth oriented economic reforms, which was safeguarded by cabinet approval of taking ordinance route to acquire land in key sectors.

RBI directs payment firms to display company name in products

RBIMumbai: Reserve Bank has directed entities offering services such as e-wallets, smart cards and White Label ATMs to prominently display their company name in products to ensure transparency.

"All the information available to the public regarding the product, whether as advertisements, on website, application form, etc. Should prominently carry the name of the entity/company authorised by RBI," Reserve Bank said in a notification.

RBI said it came to its notice that many authorised entities using specific brand names for their products like e-wallets, smart cards, WLAs were not disclosing their own company name in the information available to the users.

Sensex rallies over 325 points, Nifty reclaims 8,350 level

Mumbai - The benchmark BSE Sensex rallied over 325 points and Nifty reclaimed the 8,350 level in morning trade on across the board buying, led by banking, oil, metal and auto stocks.

Positive economic data amid hopes of more reforms fueled the buying by funds and retail investors, brokers said.

Stocks from midcap and smallcap companies also joined the rally along with key private financials like HDFC bank, ICICI and Axis Banks.

The Sensex resumed higher at 27,521.28 and surged to 27,832.60 points at 1100 hrs, a gain of 325.06 points or 1.18 percent over the previous close.

The 50-issue Nifty of NSE crossed the 8,300 level by rising over 95 points in morning trade.

Sensex begins New Year on a weak note

Mumbai - Stock markets opened on a subdued note on the first trading day of 2015 with the benchmark BSE Sensex falling by over 83 points in early trade on profit booking after recent gains.

The 30-share index which had gained 290.81 points in previous four straight sessions, fell 83.84 points, or 0.30 percent, to 27,415.58 in early trade Thursday.

Stocks of banking, oil & gas, metal, FMCG and power sector led the fall.

HDFC, HDFC Bank, ICICI Bank, Infosys, NTPC and Coal India fell up to 1.03 percent in early trade.

Reliance, Sesa Sterlite, Gail, Hindalco, Dr Reddy's were also among major losers.

Rupee down 21 paise at 63.24 Vs USD

Mumbai - The rupee fell by 21 paise to trade at 63.24 against the US dollar on the first trading day of the New Year due to buying of American currency by banks and importers.

At the Interbank Foreign Exchange, the rupee opened lower by 21 paise against previous close of 63.03.

Dealers said increased demand for the American unit from importers and a lower opening in the doemstic equity market weighed on the rupee.

Dollar's gain against major world currencies also influenced the rupee movement, they added.

The rupee had appreciated by 35 paise to end at two-week high of 63.03 against the greenback yesterday.

Sensex gains 82 points to 27,478 in early trade

Mumbai - The benchmark BSE Sensex rose over 82 points in early trade on Tuesday on increased buying by funds and retail investors amid acceleration in economic reforms after the government recommended promulgation of an ordinance making significant changes in the Land Acquisition Act.

Rising for the third straight session, the BSE 30-share barometer rose by 82.57 points, or 0.30 percent, to 27,478.30.

The National Stock Exchange index Nifty also edged higher by 21.95 points, or 0.26 percent, to 8,268.25.

Brokers said sentiments remained firm over optimism on the growth front and the government's resolve to use the ordinance route to push more economic reforms.

Rupee at over 13-month low of 63.77

Mumbai - Continuing its slide for the fifth consecutive day, the rupee lost 10 paise to over 13-month low of 63.77 against the US dollar in early trade today at the Interbank Foreign Exchange market due to sustained year-end demand for the American currency from importers.

Forex dealers said the dollar's strength against other currencies in the global market also put pressure on the rupee but sustained rise in domestic equities capped the fall.

The domestic currency had closed lower by 10 paise to 63.67 against the Greenback following sustained dollar demand from importers.

RBI pitches for structural reforms; sees 6% inflation in 2015

RBIMumbai: Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 percent level in 2015.

The central bank, however, flagged lower revenue mobilisation this fiscal as a "major concern" and said that the asset quality remains a grey area in the banking sector.

It also sounded caution over the recent phenomenon of FIIs showing greater interest in the Indian debt markets, saying this trend can turn volatile in the wake of changes in global markets, especially in the US, the world's largest economy.

Amitabh Bachchan plans to start campaign for Hepatitis B

Mumbai - Megastar Amitabh Bachchan is planning to start a new campaign for infectious disease caused by the hepatitis B virus (HBV).

The 72-year-old actor, who is also a UNICEF Global Ambassador for polio eradication, met doctors recently to strategies the plan.

"Wish to start a campaign on awareness of Hepatitis B... Met some committed doctors and shall strategise... Detect and cured asap!," Bachchan posted on Twitter.

Apart from his social works, Bachchan is also excited to release the first song of his upcoming release 'Shamitabh' after unveiling the film's first audio poster.

Sanjiv Sarin appointed CEO designate of Tata Coffee Limited

sanjiv sarinMumbai, Dec.29 - The Board of Directors of Tata Coffee Limited has announced that Sanjiv Sarin will be appointed as CEO designate of Tata Coffee Limited with effect from January 8, 2015.

Sarin will assume charge as CEO and MD of Tata Coffee Limited upon the retirement of Mr. Hameed Huq, the current CEO and MD , a compnay press release said. (ANI)

Sensex snaps two-session losing streak; gains 102 points to 27,311

Mumbai - Snapping its two-session losing streak, the benchmark BSE Sensex recovered over 102 points to 27,311 in early trade on Friday as the January series in derivatives segment commenced on fresh buying by participants.

The 30-share index, which had lost 493.18 points in the previous two sessions, rose by 102.83 points, or 0.38 percent, to trade at 27,311.44 with power, capital goods, infrastructure, banking and metal sector stocks leading the rise.

On similar lines, the National Stock Exchange index Nifty surged by 44.85 points, or 0.55 percent, to 8,218.95.

Rupee falls 6 paise to 63.57 against dollar

Rupee DollarMumbai: In line with the stock market, the rupee failed to maintain initial gains against the dollar and was quoted lower by six paise to 63.57 on fresh demand for the American currency from banks and importers due to heavy foreign capital outflows.

The rupee resumed higher at 63.45 as against Wednesday's closing level of 63.51 at the Interbank Foreign Exchange (Forex) on initial selling of dollars by banks and exporters.

However, it failed to maintain initial gains and dropped to 63.64 before quoting 63.57 at 1000 hours.

It moved in a range of 63.45-63.64 per dollar during morning trade.

Sensex gains over 6,000 pts; gears for best rally in 5 years

Mumbai - Riding high on the sentiments, the stock market is gearing up for its best performance in five years with a rally of over 6,000 points in the benchmark Sensex in 2014 -- which also saw the investors' wealth hitting Rs 100 trillion level for the first time in history.

With just four days of trading left this year, the Sensex has rallied by nearly 29 percent so far in 2014 with a gain of 6,038 points -- the highest annual gain since the year 2009 when the bluechip index had rallied by 7,817 points.

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