MARKET
HEADLINES
- Rupee gains on foreign flows, RBI's absence
Rupee was trading at 60.11/12, marginally above its previous close of 60.17/18 on foreign inflows and absence of any central bank intervention so far, dealers said. Overseas investors bought Indian shares worth $214.42 million on Monday, their biggest single-day buying since June 12, provisional exchange data showed. Also, the pair is tracking losses in the dollar versus other Asian currencies. The dollar wallowed close to seven-week lows against a basket of major currencies on Tuesday, with the greenback pressured by doubts about the strength of the U.S. economic recovery. However, the rupee is expected to continue to remain in a tight range ahead of the federal budget on July 10 with the geo-political situation in Iraq and central bank intervention at 60 level being closely monitored. The pair is seen holding in a 60 to 60.40 range during the session. - Rupee steady after initial gains; trades at 60.18
The
rupee trimmed its initial gains and was quoted steady at 60.18 per
dollar on mild demand for the US currency from banks and importers.
The domestic unit
opened higher at 60.10 per dollar as against the last closing level
of 60.17 at the Interbank Foreign Exchange market on initial selling
of the greenback by banks due to weakness of dollar in overseas
market. However,
it trimmed its initial gains and dropped to 60.20 per dollar on
demand for the American currency from importers and banks before
quoting at 60.18 per dollar at 1000 hours. It moved in a range of
60.10 and 60.20 per dollar during the morning trade.
In New York market,
the dollar posted second-quarter losses against nearly all major
rivals yesterday, with the exception of the euro.
Meanwhile, crude oil
prices rose in Asia today as dealers made the most of a weakening
dollar while keeping an eye on continuing fighting in Iraq, analysts
said. US
benchmark West Texas Intermediate for August delivery rose 23 cents
to USD 105.60 while Brent crude gained eight cents to USD 112.44 in
late-morning trade. The Indian benchmark 30-share index Sensex rose
further by 107.26 points, or 0.42 per cent, to 25,521.04 at 1000
hours.
- Rupee steady after initial gains; trades at 60.18
The
rupee trimmed its initial gains and was quoted steady at 60.18 per
dollar on mild demand for the US currency from banks and importers.
The domestic unit opened higher at 60.10
per dollar as against the last closing level of 60.17 at the
Interbank Foreign Exchange market on initial selling of the greenback
by banks due to weakness of dollar in overseas market. However, it
trimmed its initial gains and dropped to 60.20 per dollar on demand
for the American currency from importers and banks before quoting at
60.18 per dollar at 1000 hours. It moved in a range of 60.10 and
60.20 per dollar during the morning trade. In
New York market, the dollar posted second-quarter losses against
nearly all major rivals yesterday, with the exception of the euro.
Meanwhile, crude oil prices rose in Asia today as dealers made the
most of a weakening dollar while keeping an eye on continuing
fighting in Iraq, analysts said. US
benchmark West Texas Intermediate for August delivery rose 23 cents
to USD 105.60 while Brent crude gained eight cents to USD 112.44 in
late-morning trade. The Indian
benchmark 30-share index Sensex rose further by 107.26 points, or
0.42 per cent, to 25,521.04 at 1000 hours.
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Silverm prices on MCX were trading with marginal gains on Tuesday. MCX Silverm November contract was trading at Rs 45750 up Rs 75, or 0.16 percent.
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