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Time of India
14 hours ago
- Business
- Time of India
Rupee falls to 3-month low at 86.72/$
The rupee weakened for the third straight session on Thursday, closing at 86.72 against the dollar - down 24 paise. The rupee touched an intraday low of 86.89, its weakest level since mid-March, as global risk aversion spiked on fears of a possible US involvement in the Israel-Iran conflict. This marks a cumulative loss of 69 paise over the last three sessions. Forex traders attributed the decline to a mix of sustained dollar demand from importers, weak domestic equities, and geopolitical concerns in West Asia. The dollar index , which tracks the greenback against six major currencies, edged higher to 98.92, supported by safe-haven flows. However, gains remained limited as the US Fed chose to keep interest rates unchanged, despite Trump's demand for a steep 250-basis-point cut.
Hans India
18 hours ago
- Business
- Hans India
Markets extend losses for 3rd session amid geopolitical conflict
Mumbai: Benchmark indices Sensex and Nifty ended lower for the third straight session on Thursday, in line with weak trends in global markets, as geopolitical uncertainties due to the ongoing Iran-Israel conflict unnerved investors. The US Fed's decision to keep interest rates unchanged and rising global crude prices also dampened market sentiment, experts said. In a largely volatile trade, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. During the day, it hit a high of 81,583.94 and a low of 81,191.04, gyrating 392.9 points. As many as 3,018 stocks declined, while 959 advanced and 140 remained unchanged on the BSE. The 50-share NSE Nifty dipped 18.80 points or 0.08 per cent to 24,793.25. 'The Indian equity index experienced range-bound movement with a negative bias as cautious sentiment spread across the globe, driven by concerns over the potential US involvement in the Middle East conflict. 'Investor mood was further affected by the Fed's decision to keep interest rates unchanged while signalling persistent inflation and slower economic growth, which weighed on software export stocks,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Adani Ports, Bajaj Finance, Tech Mahindra, IndusInd Bank, Nestle and Tata Steel were among the major laggards.
Time of India
18 hours ago
- Business
- Time of India
Rupee falls to 3-month low at 86.72/$
MUMBAI: The rupee weakened for the third straight session on Thursday, closing at 86.72 against the dollar - down 24 paise. The rupee touched an intraday low of 86.89, its weakest level since mid-March, as global risk aversion spiked on fears of a possible US involvement in the Israel-Iran conflict. Tired of too many ads? go ad free now This marks a cumulative loss of 69 paise over the last three sessions. Forex traders attributed the decline to a mix of sustained dollar demand from importers, weak domestic equities, and geopolitical concerns in West Asia. The dollar index, which tracks the greenback against six major currencies, edged higher to 98.92, supported by safe-haven flows. However, gains remained limited as the US Fed chose to keep interest rates unchanged, despite Trump's demand for a steep 250-basis-point cut.
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Business Standard
a day ago
- Business
- Business Standard
Rupee extends slump to 3-month low on Iran-Israel tensions; ends at 86.74/$
Indian Rupee extended its fall on Thursday to hit a three-month low as West Asia jitters deepened the risk-off sentiment among traders. The domestic currency depreciated 27 paise to close at 86.74 against the dollar, the lowest level since March 17 this year, according to Bloomberg. During the session, the currency fell as low as 86.90, taking the fall to 1.33 per cent so far this month. The currency traded weakly as rising crude oil prices and escalating Iran-Israel tensions, including renewed US pressure on Iran's nuclear program, weighed on sentiment, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "Additionally, the US Fed's indication that rate cuts may be delayed by around six months supported the dollar, adding pressure on the rupee." Iranian Supreme Leader Ayatollah Ali Khamenei, on Wednesday, rejected US President Donald Trump's calls for unconditional surrender. 'The Americans should know that any US military intervention will undoubtedly be accompanied by irreparable damage,' Khamenei warned. Trump, meanwhile, said on Wednesday that his patience with Iran had run out, with Bloomberg reporting that US officials are preparing for a possible strike on Iran in the coming days. The US military has moved some aircraft and ships from bases in the West Asia that may be vulnerable to any potential Iranian attack, according to a Reuters report. Crude oil prices remained volatile after these developments. Brent crude price was up 0.26 per cent at $76.90 per barrel, while WTI crude prices were higher by 0.69 per cent at 75.66, as of 3:30 PM IST. With uncertainty persisting, the rupee may stay under pressure in the coming days, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Meanwhile, the dollar traded slightly higher a day after the US Federal Reserve kept the interest rates unchanged for the fourth consecutive time. However, Fed Chair Jerome Powell downgraded US growth estimates while projecting higher inflation. 'The cost of the tariff has to be paid, and some of it will fall on the end consumer,' Powell said. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.03 per cent at 98.93.
Mint
a day ago
- Business
- Mint
Sensex, Nifty 50 slip; mid, small-caps bleed; investors lose ₹4 lakh crore— 10 key highlights from Indian stock market
Indian stock market benchmarks, the Sensex and the Nifty 50, ended marginally lower, while the mid-cap and small-cap segments suffered deep losses on Thursday, June 19, as escalating tensions between Israel and Iran kept sentiment fragile. The Sensex ended 83 points, or 0.10 per cent, lower at 81,361.87, while the Nifty 50 settled 19 points, or 0.08 per cent, down at 24,793.25. On the other hand, the BSE Midcap index plunged 1.64 per cent and the Smallcap index crashed 1.77 per cent. The overall market capitalisation of BSE-listed firms dropped to nearly ₹ 442.5 lakh crore from ₹ 446.3 lakh crore in the previous session, making investors poorer by about ₹ 4 lakh crore in a single day. Market sentiment remained weak as the risk of Israel-Iran conflict turning into a bigger geopolitical crisis grows. US President Donald Trump has warned that it was too late for Iran to negotiate. Trump also hinted at 'something big' next week. Moreover, the US Fed has revised growth and inflation forecasts of the US, sketching a stagflationary picture of the world's largest economy. The US Federal Reserve left the policy rate unchanged at 4.25 per cent to 4.50 per cent on June 18, reiterating the risks arising from the trade war triggered by President Donald Trump's tariff policies. "The Indian equity index experienced rangebound movement with a negative bias as cautious sentiment spread across the globe, driven by concerns over potential U.S. involvement in the Middle East conflict," said Vinod Nair, Head of Research, Geojit Investments Limited. "Investor mood was further affected by the Fed's decision to keep interest rates unchanged while signalling persistent inflation and slower economic growth, which weighed on software export stocks," Nair said. Shares of Tata Consumer (up 2.14 per cent), Eicher Motors (up 1.71 per cent) and Mahindra & Mahindra (up 1.58 per cent) ended as the top gainers. Adani Ports (down 2.52 per cent), Bajaj Finance (down 2.29 per cent) and Shriram Finance (down 2.08 per cent) ended as the top losers. As many as 33 stocks closed lower in the Nifty index. Barring Nifty Auto (up 0.52 per cent), all sectoral indices ended lower, with Nifty PSU Bank (down 2.04 per cent), Media (down 1.91 per cent), Realty (down 1.60 per cent) and Metal (down 1.29 per cent) losing big. Nifty Bank fell 0.45 per cent, while the Financial Services index dropped 0.38 per cent. The Nifty Private Bank index slipped 0.30 per cent. Vodafone Idea (64.10 crore shares), KBC Global (23.83 crore shares) and GTL Infrastructure (13.66 crore shares) were the most active stocks in terms of volume on the NSE. Aakash Exploration Services (up 20 per cent), Onelife Capital Advisors (up 10 per cent), SPML Infra (up 9.87 per cent), Punjab Chemicals & Crop Protection (up 9.61 per cent) and Aeroflex Industries (up 9.24 per cent) were among the 11 stocks that rose more than 5 per cent on the NSE. Cinevista (down 11.28 per cent) and M K Proteins (down 10.97 per cent) were the two stocks that crashed more than 10 per cent on the NSE. As many as 107 stocks, including Interarch Building Solutions, HCC, Reliance Power, Hindustan Motors and Sigma Solve, hit their lower circuits in intraday trade on the NSE. On the other hand, Jindal Photo, Softtech Engineers and Aakash Exploration Services were among the 46 stocks that hit their upper circuits. The advance-decline ratio tilted heavily towards the decliners. Out of 4,117 stocks traded on the BSE, 959 advanced and 3,018 declined. Some 140 stocks remained unchanged. Vodafone Idea, Protean eGov Technologies and Easy Trip Planners were among the 79 stocks that hit their 52-week lows in intraday trade on the BSE. However, AU Small Finance Bank and Muthoot Finance were among the 73 stocks that hit their 52-week highs during the session. Read all market-related news here Read more stories by Nishant Kumar
