ANI
25 Nov 2022, 10:48 GMT+10
Mumbai (Maharashtra) [India], November 25 (ANI): Indian markets lost and snapped their rally, after being volatile, during the morning trade on Friday. Sensex dropped 138 points to 62,134.65 levels at 9.39 am as Nifty declined 23 points to 18,460.60 in the early session of Friday.
The cues from US Federal Reserve indicating to go slow on its rate hike is a good news for the global markets. Last week, the global markets picked up the cues and recovered. The domestic markets also picked up from Tuesday this week as majority of stocks gained and snapped their losing run. However, Friday morning saw selling pressures dragging the indices and declined after being volatile.
Among the broad-based indices, BSE SmallCap dropped 74 points to 62,197.70 with ITDC, Religare, Finolex Industries amongst the gainers on the index. BSE MidCap lost 130 points to 62,142.17, with Bank of India, IOB, Max Health and GSPL amongst the active stocks on the index while BSE LargeCap lost 13.98 points to 7,125.77 levels, while Paytm, PNB, DLF and Bank of Baroda among the most active stocks on the index.
Rupee closed higher at 81.63 on Thursday as the dollar index dropped against a basket of world currencies after Federal Open Market Committee (FOMC) minutes indicated a less hawkish stance going forward. Asian peers also picked up in the forex market.
US dollar index is a currency index, created by the Federal Reserve, to measure the exchange rate of the USD compared to the nations that it trades with the most, the more trade a country has with the US the more that exchange rate weighs on the index.
Experts said Indian rupee is expected to remain under pressure in 2023, moving between 84 to even hit as low as 85 mark against the US dollar. The rupee is currently around 81.7 against the US currency. However, the local currency weakened significantly by over 10 per cent against the greenback so far in the current year due to macroeconomic uncertainties. (ANI)Get a daily dose of Broadcast Communications news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.
More InformationPARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
SHARJAH, 7th May, 2025 (WAM) -- The Sharjah Broadcasting Authority (SBA) recently took part in the 76th World News Media Congress,...
Paris is withdrawing its troops after the African country scrapped a decades-old defense agreement France has handed over a military...
New Delhi [India], July 1 (ANI): On the occasion of the approval of the new 'Khelo Bharat Niti 2025', Prime Minister Narendra Modi...
Mumbai (Maharashtra) [India], July 1 (ANI): The Indian Institute of Creative Technologies (IICT) opens admissions for its first batch...
New Delhi [India], July 1 (ANI): In a significant step to bolster India's research and innovation ecosystem, the Union Cabinet on Tuesday...
Welcome to Wider Europe, RFE/RL's newsletter focusing on the key issues concerning the European Union, NATO, and other institutions...