ANI
25 Nov 2022, 15:18 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 Manufacturing Mirror 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 Manufacturing Mirror.
More InformationDUBLIN, Ireland: A just-released survey shows that over half of the chief executives in Ireland believe the nation's economic growth ...
NEW YORK CITY, New York: As it sets aside more funds to cover potentially bad loans, American Express announced that ...
New Delhi [India], January 4 (ANI): The Delhi High Court has extended the interim bail granted to businessman Ajay Ramesh ...
Washington [US], February 4 (ANI): A US jury on Friday decided that Tesla CEO Elon Musk was "not liable" for ...
New Delhi [India], February 3 (ANI): BJP national general secretary Tarun Chugh on Friday demanded a central agency inquiry into ...
Beijing [China], February 3 (ANI):In southeast Asian region, Chinese human trafficking syndicates operate in nexus with local authorities in countries ...
WASHINGTON D.C.: The US has again asked Mexico to investigate claims that workers at an auto parts facility of American ...
WASHINGTON D.C.: Tesla confirmed this week that the US Justice Department has requested documents related to its Full Self-Driving and ...
TOKYO, Japan: Toyota has announced that it sold 10.5 million vehicles in 2022, maintaining its position as the world's top-selling ...
WASHINGTON D.C.: The White House said this week that Tesla Chief Executive Elon Musk met with John Podesta, a Democratic ...
JERUSALEM, Israel: As demand for its driver-assistance technology rises among vehicle-makers, Mobileye Global is forecasting revenues for the 2023 fiscal ...
New Delhi [India], February 4 (ANI): Keeping pace with the green energy focus of the world and reducing its carbon ...