Subhadip's Feed
Dec 5, 2013

Rupee, Sensex rally as BJP leads in exit polls

MUMBAI (Reuters) – The rupee rose to a five-week high against the dollar and stocks jumped more than 2 percent to near record highs on Thursday as exit polls predicted a strong showing for the key opposition party in recent state elections.

Confirmation of a strong showing by the opposition Bharatiya Janata Party when results are out on Sunday would be seen as bolstering its chances of victory in general elections due by May, according to analysts.

Dec 5, 2013

Indian rupee, shares rally as opposition leads in exit polls

MUMBAI, Dec 5 (Reuters) – The Indian rupee rose to a
five-week high against the dollar and stocks jumped more than 2
percent to near record highs on Thursday as exit polls predicted
a strong showing for the key opposition party in recent state
elections.

Confirmation of a strong showing by the opposition Bharatiya
Janata Party when results are out on Sunday would be seen as
bolstering its chances of victory in general elections due by
May, according to analysts.

Dec 4, 2013

Rupee gains on Power Grid share-sale inflows

MUMBAI (Reuters) – The rupee rose on Wednesday, helped by foreign inflows tied to a share sale from a state-run power transmission utility, even as other emerging market currencies were hit by fears of an early tapering of the U.S. monetary stimulus.

The gains in the rupee masked a rising sense of caution across markets ahead of the results of elections in several states. Delhi was the latest to hold assembly elections on Wednesday.

Dec 3, 2013

Rupee weakens on Fed taper fears, but domestic data soothes

MUMBAI (Reuters) – The rupee fell on Tuesday as the dollar gained after strong U.S. economic data sparked expectations of an early tapering of the Federal Reserve stimulus, but a sharp easing in the current account deficit capped wider losses.

Data late on Monday showed India’s current account deficit narrowed to 1.2 percent of gross domestic product, the lowest since the June quarter of 2009.

Dec 3, 2013

Indian rupee weakens on Fed taper fears, but domestic data soothes

MUMBAI, Dec 3 (Reuters) – The Indian rupee fell on Tuesday
as the dollar gained after strong U.S. economic data sparked
expectations of an early tapering of the Federal Reserve
stimulus, but a sharp easing in the current account deficit
capped wider losses.

Data late on Monday showed India’s current account deficit
narrowed to 1.2 percent of gross domestic product, the lowest
since the June quarter of 2009.

Dec 3, 2013

*subhadip*Indian rupee weakens on Fed taper fears, but domestic data soothes

MUMBAI, Dec 3 (Reuters) – The Indian rupee fell on Tuesday
as the dollar gained after strong U.S. economic data sparked
expectations of an early tapering of the Federal Reserve
stimulus, but a sharp easing in the current account deficit
capped wider losses.

Data late on Monday showed India’s current account deficit
narrowed to 1.2 percent of gross domestic product, the lowest
since the June quarter of 2009.

Dec 2, 2013

Rupee, now without RBI support, gains on economic hopes

MUMBAI (Reuters) – The rupee rose to a near two-week high on Monday as manufacturing activity returned to growth in November, but trimmed gains after the central bank said state-run oil companies were sourcing all of their dollar needs in markets.

The return of oil marketing companies (OMCs) to sourcing dollars in foreign exchange markets marks the end of a special window, implemented late-August, to provide the greenback to these refiners. Many analysts have said the move supported the rupee.

Dec 2, 2013

Indian rupee, now without cbank support, gains on economic hopes

MUMBAI, Dec 2 (Reuters) – The Indian rupee rose to a near
two-week high on Monday as manufacturing activity returned to
growth in November, but trimmed gains after the central bank
said state-run oil companies were sourcing all of their dollar
needs in markets.

The return of oil marketing companies (OMCs) to sourcing
dollars in foreign exchange markets marks the end of a special
window, implemented late-August, to provide the greenback to
these refiners. Many analysts have said the move supported the
rupee.

Nov 19, 2013

Rupee at two-week high; fund inflows continue to support

MUMBAI (Reuters) – The rupee rose for a fourth straight session to a near two-week high on Tuesday on strong foreign inflows into stocks and as global risk sentiment was boosted after China’s central bank governor said the yuan’s trading band will be widened.

Foreign fund inflows into local stocks have already totalled nearly $900 million in November, adding to the rupee’s gains after $2.6 billion inflows in October. Foreign banks have been consistent dollar sellers in recent sessions as they buy into Indian equities.

Nov 18, 2013

Rupee sees biggest one-day gain in seven weeks

MUMBAI (Reuters) – The rupee notched up its biggest single-day gain in nearly seven weeks on Monday, buoyed by hopes strong foreign fund flows would support local markets as global risk assets got a boost from China’s ambitious economic reforms agenda and monetary stimulus in the United States looked set to continue.

The BSE Sensex rose more than 2 percent, its biggest single-day gain in more than a month.