Rupee slips 17 paise against US dollar in early trade
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The rupee opened 17 paise lower at 70.17 against the US dollar on Friday amid weak global cues after the European Central Bank (ECB) slashed its growth forecasts and launched an emergency round of policy stimulus.
The domestic unit ended 28 paise higher at 70 on Thursday amid robust foreign inflows and strong buying in domestic equities. It was the third straight session of gain for the domestic currency, during which it has strengthened by 92 paise.
The dollar-rupee March contract on the NSE was at 70.15 in the previous session. March contract open interest (OI) declined 4 per cent in the previous session. "We expect the US$/INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions," ICICI Securities said in its daily currency report.
On Thursday, foreign investors (FIIs and FPIs) infused a total of Rs 1,137.85 crore in the Indian equity market while domestic investors (DIIs) were the net sellers to the tune of Rs 925.46 crore, NSE data showed.
On the global front, Asian stocks fell on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent while Japan’s Nikkei dropped 0.9 per cent. E-Mini futures for the S&P 500 dithered either side of flat after a weak close for Wall Street, Reuters reported.
The US dollar reached a new 2019 high against a basket of currencies and was last at 97.607.
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The Economic Offences Unit (EOU) of Bihar Police on Thursday arrested four persons, including three from West Bengal, in connection with the constable recruitment examination question paper leak on October 1, 2023, leading to its cancellation by the Central Selection Board of Constables (CSBC) on October 3.
The arrested persons are Kaushik Kumar Kar and Sanjay Das, both residents of North 24 Parganas, West Bengal, and Suman Bishwas from Kolkata. Another arrested person, Saurabh Bandhopadhay, hails from Lucknow, Uttar Pradesh.
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Six people were injured after a portion of the roof of the Delhi airport's Terminal-1 fell on cars, including taxis, amid heavy rains early Friday, Delhi Fire Services (DFS) officials said.
They said a search operation is underway to make sure no one else is trapped in the damaged vehicles.
Besides the roof sheet, the support beams also collapsed, damaging the cars parked in the pick-up and drop area of the terminal, the officials said.
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A group of five men pasted posters outside the residence of AIMIM president Asaduddin Owaisi here on Thursday evening, demanding his suspension from the Lok Sabha, officials said.
According to a police officer, four-five men reached Owaisi's 34 Ashoka Road residence located in Central Delhi and pasted three posters at the entry gate and wall of the house about 9 pm.
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Stocks of small-and-medium enterprises (SME) have seen a good run at the bourses, with select counters surging over 700 per cent thus far in calendar year 2024, shows ACE Equity data. Out of the 192 SME stocks listed on the NSE, 109 stocks, or nearly 57 per cent of the counters have given a positive return during this period, data shows.
Of these 109 SME counters, 65 stocks have given a double-digit return (between 10 per cent and 99 per cent), while 25 stocks have more than doubled in price, i.e. return in excess of 100 per cent.
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The Securities and Exchange Board of India (Sebi) on Thursday eased the delisting framework to allow promoters a fair shot at taking their companies private. It also revised the eligibility criteria for inclusion and removal of stocks from the futures & options segment to ensure liquid stocks were traded in the segment.
Tightening rules for finfluencers and those doling out stock advice, Sebi barred regulated entities and people from having any association with anyone providing direct or indirect recommendations or claiming guaranteed returns.
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