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Where is the rupee headed after hitting record highs?

The Indian rupee hit a new high of 78.5963 against the dollar index on June 28, due to continued sell-offs in stock markets and high crude oil prices, which could weigh on the net importer’s fiscal balance. The rise in crude oil prices is once again reigniting concerns on the inflation front, which could prompt central banks to be very aggressive in raising rates and thus induce a recession.

Looking ahead, we expect the rupiah spot to depreciate towards the 80/81 levels by the end of the year as the twin deficits add pressure on the emerging market currency. The Fed is expected to hike rates by 75 basis points at the July meeting, while the RBI meeting is only scheduled for August, which could reduce yield spreads between India and the United States. United and weigh more on the rupee.

— Jigar Trivedi – Research Analyst – Fundamentals of Commodities and Currencies, Anand Rathi Shares

Glenmark Pharmaceuticals Ltd announced on Tuesday that it has acquired approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the United States.

Price as of June 28, 2022 10:42Click on company names for their live prices.

The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of failing to pass on more than Rs 6.46 crore in input tax credits to homebuyers by proportionally reducing prices after the rollout of GST.

Price as of June 28, 2022 10:28Click on company names for their live prices.

Bajaj Auto at AND NOW

  • Promoters will not participate in the buyout
  • Felt free market route will be easier to run

Indian rupee hits record high on rising global crude prices

The Indian rupee opened at a record high against the dollar on Tuesday as a rise in global crude prices and weakness in local equities prompted investors to sell the local unit, traders said, adding that steep losses during the session were unlikely. The partially convertible rupee was trading at a record high of 78.5875/5975 to the dollar at 0408 GMT, from its close of 78.34 on Monday.

Why Bajaj Auto’s Rs 2,500 crore takeover offer might not excite investors

The repurchase of Bajaj Auto shares worth Rs 2,500 crore may not appeal to investors as the size of the offering is significantly below the company’s cash reserve of Rs 19,090 crore at the end March 2022 and therefore below street expectations. Additionally, as it will be a buyout in the open market and not through the usual tender route, analysts do not expect the stock price to reach the level of the price. repurchase at the time of the closing of the offer.

Live Market Updates: Zomato Falls Another 6%

The markets are trying to measure the extent of the slowdown in growth in the United States, which has already begun. One view is that since Fed policy will be data driven, the Fed could slow rate hikes and QT if incoming data allows. The drop in metal prices is a positive development from this point of view. But Brent Crude rising back above $116 is negative. There are plenty of headwinds for the recent rally to sustain. FII will continue to sell at gatherings. Therefore, investors do not need to rush to buy dips, especially in mid and small caps. Systematic calibrated buying of high quality large caps would be a better strategy now.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Most active stocks on NSE

Price as of June 28, 2022 09:29Click on company names for their live prices.

Sensex Heatmap: 24 of 30 index stocks are trading lower

Sensex Heatmap: 24 of 30 index stocks are trading lower

OPENING BELL: Sensex drops 200 points, Nifty below 15,800; Titan, Asian paints drop 2% each

Asian stocks retreat after Wall Street plunge

Asian stocks fell slightly in early trading on Tuesday as investors took inspiration from a volatile overnight session on Wall Street, while oil prices rose after last week’s rout. At the start of the Asian trading day, MSCI’s broadest index of Asia-Pacific stocks outside Japan was down 0.7%. The index is down 3.8% so far this month. US equity futures, the S&P 500 e-minis, rose 0.27%.

Fourth quarter results today

BF Utilities is among the companies that will announce their quarterly results today.

SGX Nifty reports a negative start

Nifty futures on the Singapore Stock Exchange traded 48.5 points, or 0.31%, at 15,785.50, signaling Dalal Street was heading for a negative start on Tuesday.

Tech View: 15,800 key support for Nifty

Analysts said not seeing a follow-up buy after a gap started was disappointing. The index needs to hold above the 15,800 level for momentum to remain strong, they said.

Oil climbs as UAE’s top producer says it has no spare capacity

Oil prices rose around 1% at the start of Asian trading on Tuesday after the UAE’s energy minister said the country was producing near capacity, thwarting expectations that it could help boost economic growth. offer in a tight market.

Tokyo stocks benefit from bargain hunting

Shares in Tokyo traded higher on Tuesday in search of bargains, having opened following falls on Wall Street. The benchmark Nikkei 225 rose 0.37%, or 100.42 points, to 26,971.69 in morning trade, while the broader Topix index rose 0.60%, or 11, 33 points, at 1,898.75 yen.

Wall Street ends lower, dragged down by growth stocks

U.S. stocks closed lower on Monday, with few catalysts to sway investor sentiment as they approach the halfway point of a year in which equity markets have been hit by heightened concerns over inflation and Fed policy tightening.

The rupee falls 4 paise to 78.37 against the US dollar

The rupiah fell 4 paise to close at an all-time low of 78.37 against the US dollar on Monday on continued outflows of foreign funds and fears of a downturn. Strong crude oil prices in the international market and weak macroeconomic data put pressure on national unity. However, a weak dollar overseas supported the local currency, traders said.

Sensex, nice on Monday

The Sensex rose 433 points or 0.82% to end the session at 53,161.28. Its larger counterpart, Nifty50, added 132.80 points or 0.85% to close above the 15,830 mark.

Hello, dear reader! Here’s something to start your trading day

Hello, dear reader!  Here's something to start your trading day

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