• SENSEX  
    ( -4.61%)
  • USDINR  
    ( -0.20%)
  • GOLD  
    ( 0.53%)
  • Pre Session Commentary - Detailed News

Indian Rupee: Await Cues From Union Budget Amid China Virus Outbreak
31-Jan-20   08:57 Hrs IST

Rupee could recover some of the sharp losses registered in the previous session on Friday, 31 January 2020, but gains are likely to be limited amid China worries as the World Health Organization declared a global health emergency on Thursday as the coronavirus outbreak spread well beyond China, where it emerged last month. Moreover, market participants are also assessing the economic implications of the coronavirus outbreak and awaiting cues from the Union Budget.

The Indian rupee lost 22 paise to close at a three-week low of 71.49 on Thursday tracking heavy sell-off in domestic equities amid rising concerns over the outbreak of coronavirus. Most Asian currencies declined after the US Federal Reserve kept its key policy rates steady. The domestic currency opened weak at 71.39 a dollar. It finally settled for the day lower by 22 paise at 71.49, a level not seen since January 8. On Wednesday, the local unit had closed at 71.27 against the greenback. Foreign institutional investors sold equities worth Rs 962.28 crore on a net basis on Thursday, according to provisional exchange data. The 10-year Indian government bond yield was at 6.56 per cent.

The domestic market corrected sharply on Thursday amid weak global cues triggered by rising death toll from coronavirus spreading in China. Meanwhile, India on Thursday reported its first case of the novel coronavirus in Kerala. The patient, a student of the China's Wuhan University, is stable and in isolation at a hospital, a statement from the Health Ministry said. The barometer BSE S&P Sensex fell 284.84 points or 0.69% to 40,913.82. The Nifty 50 index lost 93.70 points or 0.77% to 12,035.80.

Shares in Europe and Asia fell across the board on Thursday as worries about the spread of a new virus from China sent investors heading for safe instruments like gold & bonds. US stock market ended little changed on Wednesday, with better-than-expected results from blue-chip names, including Apple, offset by lingering concerns related to China's coronavirus outbreak.

The dollar struggled to find its footing Thursday, amid mixed U.S. economic data and a sharp decline against the pound after the Bank of England held rates steady in the wake of firmer economic data. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.18% to 97.64.

Powered by Commodity Insights

Useful Links

Back to Top
Attention Investors
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day.............issued in the interest of investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account                                    "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Investors should be cautious of unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.BSE   http://www.bseindia.com/investors/tip-off-registration.aspx?expandable  NSE   https://www.nseindia.com/int_invest/dynacontent/any_portal.htm
All payments to Stock Broker shall be received from the market intermediaries/participants strictly by account payee crossed cheques / demand drafts or by way of direct credit into the bank account through electronic fund transfer, or any other mode permitted by the Reserve Bank of India. Stock Brokers shall not accept cash from their clients either directly or by way of cash deposit to the Bank Account of Stock Broker.
Group Companies Members of : BSE, NSE, MCX, MCX.SX, CDSL, NCDEX, Broking Services, Depository Services, Portfolio Management Services, Member Area IPO Distribution, Insurance Broking
BSE Clearing No.: 911 | SEBI Regn. No.: INZ000177531 (Cash/F&O) | NSE Clearing No.: 11858 | SEBI Regn. No. INZ000177531 (Cash/F&O/CDs) | MCX-SX Clearing No.: 11400 | SEBI Regn. No.: INZ000177531 (CDs) | CDSL DP ID: 30300 | SEBI Regn. No.: IN-DPCDSL-210-2003 | MCX SEBI Reg No.: INZ000032336 | MCX: 10665 | NCDEX: 00254 | NBFC RBI Regn. No.: 13.01851
© Copyright 2018 Ajmera Associates Ltd ( ISO 9001:2015 Certified )
Designed, Developed and Powered By CMOTS Infotech ( ISO 9001:2015 Certified )
Open An Account Today !