India's benchmark indices closed near two-week lows and the rupee weakened 0.2 per cent against the US dollar on Monday as rising Covid cases in China and talk of persistent rate hikes by US Federal Reserve officials unnerved the markets.
This is a sharp reversal of sentiment from a week ago when the Sensex had posted fresh closing highs and the rupee strengthened after the US consumer price index data for October showed signs of inflationary pressures abating. The Sensex fell 0.84 per cent, or 519 points, to close at 61,145, while the Nifty50 index lost 0.81 per cent, or 148 points, to settle at 18,160 on Monday, logging their third straight day of losses.
The rupee closed at 81.85 against the dollar, as against 81.69 on Friday. So far in 2022, the domestic currency has depreciated 9.2 per cent versus the dollar.
This story is from the November 22, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 22, 2022 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Plan logistics: MoE to CBSE on two board exams a year
The Ministry of Education (MOE) has asked the Central Board of Secondary Education (CBSE) to work out logistics for conducting board exams twice a year from the 2025-26 academic session, according to sources.
Rushdie at the cutting edge
I began my review of Victory City thus: \"Rejoice, for Salman Rushdie,.
Most SC/ST candidates fight with no backing from political party
ANOUSHKA SAWHNEY New Delhi, 26 April The participation of political contestants belonging to the ☐ scheduled caste and scheduled tribe has shown a declining trend over the years.
INDIA'S GAMBIT
What is behind the explosion of chess talent in the country, and what does it augur for the game?
Innovation funds: High-risk bets that are apt for seasoned investors
Failure rates among innovators tend to be high; concentrated portfolios make these funds volatile
Bajaj Finance sinks 8% amid rising NIM pressure
Brokerages bearish, anticipate NIM compression in FY25
Strong execution key for Tech Mahindra to achieve 3-year targets
The market could not make a clear assessment of Tech Mahindra with the stock swinging wildly in the last two sessions.
Mkts wrong to hope worst of geopolitical crises over: Wood
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED & fear'.
Post-LS elections gaining streak: Will Nifty IT do it again?
Usually, general elections cast a spell of sorts on Dalal Street.
BSE to shell out regulatory charge to Sebi more as
Move follows clarity on turnover fee paid by bourses