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July 26, 2024 New Delhi, India Daily Market Analysis USDINR The rupee settled flat as likely intervention from the Reserve Bank of India (RBI) balanced the market. The USDINR trading range for the day was 83.71-83.89. India’s Manufacturing PMI rose to 58.5 in July 2023, up from 58.3 in the previous month, while the HSBC…
July 25, 2024 New Delhi, India The Indian stock market ended flat on Thursday amid the monthly F&O expiry for the July series. Despite a steep sell-off in the morning, the benchmarks BSE Sensex and NSE Nifty50 managed to clock a steady recovery during the day. Market Highlights: BSE Sensex: Ended at 80,040, down 109…
July 25, 2024 New Delhi, India GBP/USD The Pound Sterling (GBP) weakened to 1.2880 against the US Dollar (USD) during Thursday’s London session. The decline in the GBP/USD pair comes amidst sour market sentiment ahead of the advanced United States (US) Q2 Gross Domestic Product (GDP) data, which is set to be published at 12:30…
July 25, 2024 New Delhi, India WTI Crude Oil Price Oil prices eased on Thursday as concerns over weak demand in China, the world’s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains from the previous session after draws in U.S. inventories. Market Overview: Brent Crude and WTI…
July 25, 2024 New Delhi, India IPO Watch Today The allotment process for the Sanstar IPO was finalised on July 24. The IPO, which opened for subscription on July 19 and closed on July 23, saw a remarkable subscription status of 82.99 times. Investors can now check their allotment status through the registrar’s portal, Link…
July 25, 2024 New Delhi, India Daily Market Analysis USDINR The rupee depreciated amidst market assessments of the 2025 Union Budget’s impact on Indian foreign exchange flows. The USDINR trading range for the day was 83.58-83.8. India has lowered its fiscal deficit target to 4.9% of GDP for FY25, and the country’s economy is projected…
July 24 2024 New Delhi, India Indian stock market benchmarks, the Sensex and the Nifty 50, extended their losing streak into a fourth consecutive session on Wednesday, July 24. Despite the broader market downturn, mid and small-cap segments recorded healthy gains. Market Summary: Sensex: Fell by 280 points or 0.35%, ending at 80,148.88. Nifty 50:…
July 24, 2024 New Delhi, India IPO Watch V L Infraprojects’ initial public offering (IPO) has garnered significant investor interest, achieving an oversubscription rate of 119.51 times on the second day. The IPO, which began on Tuesday, July 23, and will close on Thursday, July 25, is priced between ₹39 and ₹42 per share with…
July 24, 2024 New Delhi, India JPY Yen Analysis The Japanese Yen (JPY) continues its upward trajectory for the third consecutive session on Wednesday, buoyed by hawkish sentiment surrounding the Bank of Japan’s (BoJ) anticipated policy shift. The market expects the BoJ to raise interest rates at next week’s policy meeting, prompting short-sellers to cover…
July 24, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) weakened during Wednesday’s early European session despite an improvement in India’s HSBC Manufacturing and Services PMI for July. The Rupee’s decline was driven by Finance Minister Nirmala Sitharaman’s announcement of increased capital gains tax, which exerted selling pressure on the INR. Stronger PMI…
