Source - http://in.reuters.com
The rupee eased in early trade on Wednesday, tracking weak regional currencies, but a firm start to the domestic sharemarket is expected to arrest the fall and could push the local unit up later in the session.
At 10:30 a.m. (0500 GMT), the partially convertible rupee was at 46.83/84 per dollar, a little below its previous close of 46.80/81. Last Thursday, the rupee fell to a low of 46.97, its weakest since Nov. 27.
So far the rupee has traded in a band of 46.8175 to 46.84. Most Asian units were weaker compared to the dollar.
Activity was thin ahead of year-end, with Monday being declared a holiday for the markets in addition to Friday.
"Gains in the stock market are getting offset by the dollar's rise versus the euro, which is quite significantly down," said Naveen Raghuvanshi, an associate vice president with Development Credit Bank.
"Had it been for the euro's move alone, then the rupee should have crossed 47 by now. But it would continue to be in 46.75-46.87 range for the rest of the month. There is very little impetus for any movement and only in the New Year we could see some fresh triggers," he added.
Shares rose 1 percent in morning deals, supported by gains in Asia, but they may lack further momentum for a sharper move.
"We may see the dollar-rupee drifting lower towards 46.75 tracking shares later today," said R.K. Gurumurthy, head of treasury, at ING Vysya Bank.
The U.S. dollar notched a two-month top on the yen in Asia on Wednesday, with buyers enticed by U.S. yields at four-month highs and the steepest yield curve on record.
Tuesday, December 22, 2009
Wednesday, December 2, 2009
Sensex northbound; ACC, Hindalco, Grasim, Cipla top gainers
Source - http://www.moneycontrol.com/news/
At 11.57 hrs IST, continuous buying in oil & gas, banking, technology, cement, realty, metal and select infrastructure stocks was helping the Sensex to maintain early gains. However, selling in Tata Motors, Cairn India, L&T, HUL, Suzlon and IDFC capped the gains to some extent.
On the global front, Asian markets were trading higher barring Shanghai. Nikkei shot up 3.8% and Kospi was up 1.5%. Hang Seng and Jakarta were up 0.5% each. Straits Times and Taiwan were marginally in the green. However, Shanghai lost 0.65%.
The Sensex was up 116.54 points or 0.68% at 17286.45, and the Nifty was up 39.90 points or 0.78% at 5163.15. About 1944 shares advanced, 907 shares declined, and 583 shares were unchanged.
In the largecap space, Cipla was the top gainer on the Nifty with 3% gain. Reliance Capital, ACC, Reliance Power, Hindalco and Grasim were up 2.5-2.7% each. On the losing side, Tata Motors, Cairn India, IDFC, Larsen and Infosys were down 0.1-2%.
Technical analysts suggest that Nifty will hover in the range of 5150-5187 before making new highs.
Top gainers on the BSE Midcap: Jet Airways, United Breweries, Allcargo Global, Andrew Yule and KGN Industries were up 5-8%.
Top losers on the BSE Midcap: Indiabulls, HSBC Invest, Dena Bank, Jain Irrigation and Edelweiss Capital were down 1-3%.
Top gainers on the BSE Smallcap: Dynamatic Tech, Sanwaria Agro, Binani Inds, Tata Elxsi and OCL Iron were up 10-16%
Top losers on the BSE Smallcap: Mastek, Swaraj Mazda, JMD Telefilms, Zenith Infotech and Supreme Ind were down 4-6%.
At 11.57 hrs IST, continuous buying in oil & gas, banking, technology, cement, realty, metal and select infrastructure stocks was helping the Sensex to maintain early gains. However, selling in Tata Motors, Cairn India, L&T, HUL, Suzlon and IDFC capped the gains to some extent.
On the global front, Asian markets were trading higher barring Shanghai. Nikkei shot up 3.8% and Kospi was up 1.5%. Hang Seng and Jakarta were up 0.5% each. Straits Times and Taiwan were marginally in the green. However, Shanghai lost 0.65%.
The Sensex was up 116.54 points or 0.68% at 17286.45, and the Nifty was up 39.90 points or 0.78% at 5163.15. About 1944 shares advanced, 907 shares declined, and 583 shares were unchanged.
In the largecap space, Cipla was the top gainer on the Nifty with 3% gain. Reliance Capital, ACC, Reliance Power, Hindalco and Grasim were up 2.5-2.7% each. On the losing side, Tata Motors, Cairn India, IDFC, Larsen and Infosys were down 0.1-2%.
Technical analysts suggest that Nifty will hover in the range of 5150-5187 before making new highs.
Top gainers on the BSE Midcap: Jet Airways, United Breweries, Allcargo Global, Andrew Yule and KGN Industries were up 5-8%.
Top losers on the BSE Midcap: Indiabulls, HSBC Invest, Dena Bank, Jain Irrigation and Edelweiss Capital were down 1-3%.
Top gainers on the BSE Smallcap: Dynamatic Tech, Sanwaria Agro, Binani Inds, Tata Elxsi and OCL Iron were up 10-16%
Top losers on the BSE Smallcap: Mastek, Swaraj Mazda, JMD Telefilms, Zenith Infotech and Supreme Ind were down 4-6%.
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