Mumbai, Dec 14: The rupee on Tuesday declined by 10 paise to 75.88 against the US dollar as muted domestic equities and persistent foreign fund outflows weighed on the local unit.
At the interbank foreign exchange market, the local currency opened at 75.94 against the greenback. During the day, the local unit witnessed an intra-day low of 75.95 and a high of 75.83 against the US dollar.
In the previous session, the rupee had settled at 75.78 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01 per cent down at 96.30.
Brent crude futures, the global oil benchmark, advanced 0.35 per cent to USD 74.13 per barrel.
On the domestic equity market front, the BSE Sensex ended 166.33 points or 0.29 per cent lower at 58,117.09 while the broader NSE Nifty fell 43.35 points or 0.25 per cent to 17,324.90.
Foreign institutional investors remained net sellers in the capital market on Monday, as they offloaded shares worth Rs 2,743.44 crore, according to the exchange data.
On the domestic macroeconomic front, the wholesale price-based inflation surged to more than a decade high of 14.23 per cent in November, mainly due to hardening of prices of mineral oils, basic metals, crude petroleum and natural gas. (AGENCIES)
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BIZ-GOLD-PRICE
Gold declines Rs 68 on muted global trends
New Delhi, Dec 14:
Gold in the national capital on Tuesday dipped Rs 68 to Rs 47,280 per 10 gram in line with weak international precious metal prices, according to HDFC Securities.
In the previous trade, th precious metal settled at Rs 47,348 per 10 gram.
Silver, however, gained Rs 114 to Rs 60,221 per kg from Rs 60,107 per kg in the previous trade.
In the international market, gold was trading lower at USD 1,784 per ounce and silver was flat at USD 22.23 per ounce.
“Gold prices traded weak with spot gold prices at COMEX trading 0.17 per cent down at USD 1,784 per ounce on Tuesday. Gold prices kept narrow trading range on mixed global cues over stronger dollar,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. (AGENCIES)
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BIZ-STOCKS-CLOSE
Sensex drops 166 pts on weak global cues; Nifty ends below 17,350
Mumbai, Dec 14:
Equity benchmark Sensex dropped 166 points on Tuesday, tracking losses in index majors Reliance Industries, ITC and Kotak Bank amid a negative trend in global markets.
The 30-share index declined 166.33 points or 0.29 per cent to end at 58,117.09. Similarly, the Nifty fell 43.35 points or 0.25 per cent to 17,324.90.
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Bajaj Finance, Kotak Bank, Bharti Airtel and Reliance Industries.
On the other hand, PowerGrid, Axis Bank, Nestle India and Dr Reddy’s were among the gainers.
“The domestic market was impacted by negative sentiments from other Asian markets as traders showed concern about WHO statement on Omicron variant of COVID-19 coupled with Federal Reserve policy meeting week ahead,” said Likhita Chepa, Senior Research Analyst, Capitalvia Global Research.
Elsewhere in Asia, bourses in Shanghai, Tokyo, Seoul and Hong Kong ended with losses. Stock exchange in Europe were, however, trading on a positive note in mid-session deals
Meanwhile, international oil benchmark Brent crude fell 0.26 per cent to USD 74.20 per barrel. (AGENCIES)
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