Investor sentiment turned cautious as markets awaited the U.S. Federal Reserve’s policy meeting, which is expected to give fresh signals about the path of interest rates. Traders and portfolio managers paused for clues on whether rates will stay higher for longer or begin to ease, and that caution showed up in softer risk appetite and … Read more
Dollar demand weighs on market mood Growing demand for the US dollar from corporates, importers and foreign portfolio investors has cooled investor enthusiasm. The uptick in dollar purchases is putting pressure on the local currency, stirring volatility in equity and debt markets and prompting investors to reassess short-term risk. What’s driving the dollar appetite? Corporate … Read more
India and the United States will begin a three-day round of negotiations on December 10 to discuss the first phase of a proposed bilateral trade agreement. The talks mark a fresh push to deepen economic ties and resolve trade frictions between the two economies. What these talks are about The first phase is expected to … Read more
What the 1% TDS on cryptocurrencies means The Finance Act 2022 introduced a 1% tax deduction at source (TDS) on transfers of Virtual Digital Assets (VDAs), a category that includes cryptocurrencies and certain digital tokens. In plain terms, when a crypto asset is transferred, the payer (or transferee) must deduct 1% of the payment as … Read more
RBI lets the rupee find its own level, Governor says On December 5, Reserve Bank Governor Sanjay Malhotra made it clear that the central bank does not peg the rupee to any specific band in the foreign exchange market. Instead, the RBI allows the currency to discover its appropriate level through market forces, stepping in … Read more
Rupee slips to 90.09 against the US dollar At the close of trade on Monday, the Indian rupee settled at 90.09 against the US dollar, provisionally down 14 paise from the previous session. The move left the currency trading at a fresh weaker level for the day as global and domestic forces influenced demand for … Read more
Market snapshot Markets showed limited upside today, with only a handful of stocks closing in the green. Tech Mahindra, HCL Technologies, Reliance Industries and HDFC Bank were the only gainers on the session. Who moved higher Tech Mahindra — one of the IT services names that found buying interest. HCL Technologies — another IT heavyweight … Read more
Steady interest in gold ETFs continues for a sixth month Indian investors have kept buying exchange-traded funds (ETFs) that track the yellow metal for the sixth consecutive month. The sustained inflows reflect a mix of portfolio hedging, easy access to the asset, and ongoing concerns about global and domestic economic uncertainty. Why Indians are buying … Read more
Rupee comes under pressure as dollar demand picks up Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors is weighing on the rupee. The combined need for dollars to pay for goods, manage overseas obligations and invest abroad is tightening supply in the local market, nudging the currency lower. Why the … Read more
Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors put pressure on the rupee, pushing the currency weaker against the greenback and increasing volatility in currency markets. Why the rupee came under pressure Corporate dollar needs: Companies buying raw materials and components from abroad often need dollars to settle invoices, raising … Read more