The dollar index futures lost ground and slumped below 105 mark as markets brushed aside elevated level s of producer price inflation for April. US producer Price Index (PPI) increased by 0.5% on monthly basis, surpassing the forecasted 0.3% rise. Similarly, the core PPI, which excludes food and energy prices, also rose by 0.5%, beating the expected 0.2% increase. Meanwhile, Federal Reserve Chair Jerome Powell said that the PPI readings were higher than expected. He added that policymakers need to be patient and let restrictive policy do its work. Investors now shift focus to US CPI report this week. The dollar index dumped aside higher PPI data and added to losses at 104.82 alongside fall in treasury yields. Among basket currencies, EURUSD and GBPUSD are quoting higher by 0.06% at $1.0842 and $1.2600 respectively.
Posts in category Business Standard
DXY Futures Lose Ground Below 105 Mark; Let restrictive policy do its work, Says Powell (15-05-2024)
Radico Khaitan stock surges 4% on strong Q4 performance (15-05-2024)
The company’s consolidated revenue from operations stood at Rs 3,894.6 crore in Q4FY24, as opposed Rs 3,375.4 crore in Q4FY23
broader market outperforms; PSU banks advance (15-05-2024)
At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 115.67 points or 0.16% to 72,983.14. The Nifty 50 index shed 12.40 points or 0.06% to 22,205.45.
Global funds eye India’s maturity bonds betting on RBI’s policy shift (15-05-2024)
The proportion of foreign money allocated to local bonds due in 10 years or more climbed to 17 per cent last week, up from just 11 per cent in September
Canara Bank jumps 5% post stock split; up 8% in last three sessions (15-05-2024)
State owned Canara Bank soared up to 4.8 per cent at Rs 118.90 a piece on the BSE in Wednesday’s intraday deals. The stock has moved up more than 8 per cent in the last three trading sessions
Colgate Palmolive shares fall 2% as investors book profit after healthy Q4 (15-05-2024)
Colgate Palmolive Q4 results: despite a sharp ramp up of ad spends (up 18 per cent Y-o-Y), Ebitda margins expanded by 226bp Y-o-Y/216bp Q-o-Q to stand at 35.7 per cent
India Domestic Passenger Vehicle Sales Rise To Record Levels In April: SIAM (15-05-2024)
Passenger vehicle wholesales in India rose to record levels in April driven by strong demand for utility vehicles, automobile industry body SIAM said on Tuesday. The overall passenger vehicle dispatches from companies to dealers rose 1.3 per cent year-on-year to record levels of 3,35,629 units in April, as compared to 3,31,278 units in April 2023. Utility vehicle sales stood at 1,79,329 units last month, up 21 per cent from 1,48,005 units in the same month last year.
Volumes soar at V-Mart Retail Ltd counter (15-05-2024)
V-Mart Retail Ltd clocked volume of 12081 shares by 10:46 IST on BSE, a 14.19 times surge over two-week average daily volume of 852 shares
Q4 FY24 results: RVNL, MOIL, Biocon among 84 firms to post earnings today (15-05-2024)
Q4 FY24 company results: Dixon Technologies, Jindal Stainless, Power Finance Corporation, Thomas Cook will also release their financial results
Andhra Paper stock split: Board approves split in 1:5 ratio; stock falls 4% (15-05-2024)
The fall came a day after the company announced its March quarter results for FY24 (Q4FY24), along with stock-split and dividend announcement