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Posts in category Business Standard
INR Settles Near Record Lows Amid Dollar Strength, Muted Equities (02-04-2024)
The Indian rupee on Tuesday consolidated in a narrow range and settled 4 paise lower at 83.43 against the US dollar, weighed down by a strong dollar and elevated crude oil prices. The dollar index futures that measure the greenback against a basket of currencies raced to 104.72 after US ISM business activity report from March yesterday reported highest growth since September 2022, showing resilience in US economy that could deter the Fed from rushing into rate cuts. US 10-year benchmark treasury yields shot up to 4.35%. Meanwhile, a weak trend in domestic equities also dented investor sentiments. The benchmark S&P BSE Sensex ended the session down 110.64 points, or 0.15 percent, at 73,903.91 after having a hit a low of 73,743.77 earlier. The broader NSE Nifty index recouped most early losses to end down 8.70 points at 22,453.30. At the interbank foreign exchange, the local unit opened at 83.37, then touched an intraday high of 83.34 and a low of 83.44 against the greenback. The ..
Govt proposes national iron ore exchange to tackle price anomalies: Report (02-04-2024)
The proposed exchange would record real-time transactions and physical delivery of iron ore, the document said
Forex derivatives volumes to plummet 80% on mandatory exposure rule (02-04-2024)
The rule, which comes into effect from April 5, was reiterated by exchanges on Monday following concerns raised by brokers about its impact on volumes
Fevikwik introduces new products in instant adhesion segment (02-04-2024)
The new range of products have been designed to offer superior performance and user experience across various usage categories – Fevikwik Precision Pro for precise application, Fevikwik Gel for spillfree repairs and opportunity to correct mistakes, Fevikwik Advanced with water-proof and shockproof properties, and Fevikwik Craft for crafting enthusiasts.
Board of Mankind Pharma approves slump sale of OTC biz (02-04-2024)
At meeting held on 02 April 2024
Singapore Market gains 0.4% (02-04-2024)
At closing bell, the Straits Times Index (STI) index was up 12.83 points, or 0.4% to 3,247.72 after trading between 3,230.48 and 3,252.82. Volume of 2.15 billion shares worth S$1.04 billion changed hands. Across the broader market, advancers outpaced decliners 332 to 247.
Hong Kong Market surges 2.4% (02-04-2024)
City market surged after encouraging news regarding China’s manufacturing sector. Chinas official PMI manufacturing index rose to 50.8 in March from 49.1 in February, the statistics bureau said on Sunday. A reading above 50 signifies growth in the sector. Adding to the optimism, a separate report by Caixin/S&P Global showed an even sharper rise in the manufacturing PMI to 51.1 in March from 50.9 in February.
Nifty April futures trade at premium (02-04-2024)
The NSE’s India VIX slipped 3.55% to 11.65.
CAMS subsidiary to facilitate issuance of insurance policies in electronic form (02-04-2024)
With effect from 01 April 2024