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USDINR closed at 61.86 against its open at 61.84.
Sensex provisionally closes 1.68 percent lower, Nifty down 1.5 pct.
The govt is planning to sell a stake of up to 10 percent in Coal India, of which the govt currently owns close to 90 percent. The stake to be sold, worth about $3.9 billion at current market prices, will be unloaded through an auction on Friday.
With the central government divesting Coal India shares at about 5% discount to Thursday's closing price, its biggest fund-raising effort in the secondary market.
Coal India shares down 3.5 percent in pre-open trade ahead of govt's share sale.
nvestors will next be eyeing U.S. fourth-quarter gross domestic product data due out that may show a solid pace of economic expansion as the Fed had described in its policy statement on Wednesday.
Germany’s inflation rate turned negative in January for the first time in more than five years, aggravating a slump in consumer prices in the Euro area.
The euro-area inflation rate was probably minus 0.5 percent in January.
Japan's industrial output edged higher in December, suggesting the world's third-largest economy may be turning the corner on a recession brought on by a hefty sales tax hike.
The government will sell 315.8 million shares with an option to sell another 315.8 million in the auction, which will start at 9.15 am and end at 3.30 pm on Friday.
Troubled carrier SpiceJet Ltd (SPJT.BO) said its board has approved selling shares worth up to 15 billion rupees ($242.6 million) in the company, following a deal between its current majority owner and a co-founder leading a rescue plan.
FII inflows was also partially supported by government's disinvestment of 10% stake in Coal India, whose offer for sale opens today with a floor price of Rs 358 a share compared with market price of Rs 363.55/share.
The Rupee had lost 45 paise against the Dollar yesterday, its worst single-session drop in nearly seven weeks, to end at 61.86 on month-end dollar demand from importers and banks amid speculation that the Fed is considering raising interest rates.
India's oldest stock market operator, BSE Ltd, is slashing fees to gain ground in new markets, turning currency derivatives into the latest battleground in its long-standing rivalry with the younger but larger National Stock Exchange.
Inflows are seen after government's disinvestment of 10% stake in Coal India, whose offer for sale opens today with a floor price of Rs 358 a share compared with market price of Rs 362.75/share.
The RBI is making extra efforts to spur the country's corporates to more actively hedge their foreign exchange exposure, in order to fortify the country's defences against any risk of currency turmoil.
India revises up 2013/14 GDP to 6.9 pct from 4.7 pct earlier; 2012/13 GDP revised up to 5.1 pct.
The country's foreign exchange reserves fell to $322.04 billion as of Jan. 23, compared with $322.14 billion a week earlier, the Reserve Bank of India said on Friday.
Russia's central bank cut its key interest rate on Friday, defying expectations of a hold, as the economy slides towards recession because of a collapse in global oil prices and Western sanctions over the Ukraine crisis.
FOMC STATEMENT- HAWKISH STANCE
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