INR Recovers Marginally With Focus On Budget (22-07-2024)
The Indian rupee consolidated in a narrow range to settle 3 paise higher at 83.67 (provisional) against the American currency on Monday, as crude oil prices and the US dollar retreated from their elevated levels. Rupee recovered from all-time low levels and traded in a narrow range as mixed-to-weak domestic markets put downside pressure on the rupee. However, weak tone in the US dollar and a decline in crude oil prices cushioned the downside. The benchmark S&P/BSE Sensex ended the session down 102 points, or 0.13 percent, at 80,502 after a choppy session. The broader NSE Nifty index closed at 24,509, down 22 points, or 0.09 percent, from its previous close. At the interbank foreign exchange market, the local unit opened at 83.66, and touched an intraday high of 83.65 and a low of 83.68 against the dollar during the trading session. Investors now await the announcement of India's budget on Tuesday and will focus on the government's fiscal deficit target and gross market borrowing .
E2E Networks Ltd – Listed small Cloud computing player (22-07-2024)
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Barometers end flat ahead of Union Budget; NSE VIX jumps 4% (22-07-2024)
Domestic stocks ended almost flat today as investors remained cautious ahead of tomorrow's Union Budget, opting to wait and see before making any major moves. Despite early gains, the Nifty50 couldn't hold onto momentum and closed below 24,550. While some sectors like auto and healthcare saw a rise, others like oil & gas and realty declined. This cautious approach reflects the dual impact of the conservative economic growth projection and recent underwhelming corporate earnings reports. The budget is expected to be positive, but high valuations and potential downgrades in earnings growth keep investors on edge.