The Indian rupee has stayed mostly flat through the day as gains from mild weakness in dollar was offset by soaring international oil prices and lackluster cues from domestic equity indices. INR is quoting at Rs 83.44 per dollar, marginally lower on the day. Meanwhile, the National Stock Exchange (NSE) and BSE issued circulars to brokerages on April 1 to ensure that their clients trading in currency derivatives are in line with the Reserve Bank of India’s directives, which will come into effect from April 5. According to the central bank notification dated Jan 05, 2024, RBI would allow exchanges to offer forex derivative contracts involving the INR only for contracted exposure or hedging, compared to the current allowance of up to $100 million without any explicit underlying exposure. For exchange traded foreign exchange derivative contracts involving INR, recognized stock exchange shall ensure that the user is allowed to take positions (long or short), without having to establish …
Posts in category Business Standard
Quick Wrap: Nifty Realty Index falls 2.58% (03-04-2024)
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Barometers end near flat line; Nifty below 22,450; realty shares tumble (03-04-2024)
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 27.09 points or 0.04% to 73,876.82. The Nifty 50 index added 18.65 points or 0.08% to 22,434.65.
‘Turmoil in exchange-traded FX options on forced position unwinding’ (03-04-2024)
The premium on out-of-the-money dollar/rupee put options expiring on April 26 soared up to 250%, despite spot dollar/rupee inching up 0.04% to 83.4200
NSE revises lot sizes for Nifty, Fin Nifty, and Midcap Indices (03-04-2024)
Reduced Lot Sizes:
Vanta Bioscience wins order of Rs 1.2 cr (03-04-2024)
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Lupin appoints Dr. Ranjana Pathak as Chief Quality Officer (03-04-2024)
Dr. Pathak’s career includes serving as the Global Head for Quality and Pharmacovigilance at Dr. Reddy’s. Prior to this, Dr. Pathak served as the President & Global Head of Quality, Medical Affairs and Pharmacovigilance at Cipla and has also held Global Quality and Compliance leadership positions at Watson/Actavis and Endo Pharmaceuticals in the U.S. Dr. Pathak has strong experience across generic and brand medicines across dosage platforms including injectables, inhalation products and biologics.
China Market ends lower (03-04-2024)
At close of trade, the benchmark Shanghai Composite index dropped 0.18%, or 5.66 points, to 3,069.30. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, sank by 0.66%, or 11.73 points, to 1,767.97. The blue-chip CSI300 index dropped by 0.36%, or 12.88 points, to 3,567.97.
Macrotech Developers Ltd leads losers in ‘A’ group (03-04-2024)
Godrej Properties Ltd, DLF Ltd, Sapphire Foods India Ltd and Torrent Pharmaceuticals Ltd are among the other losers in the BSE’s ‘A’ group today, 03 April 2024.
BSE Midcap index hits new high; analysts see more upside in months ahead (03-04-2024)
The S&P BSE Midcap index traded higher for a third straight day, surging 3.5 per cent during the period