Rupee gains 7 paise to close at ₹77.98 against US dollar
The Hindu
At the interbank forex market, rupee opened strong at ₹77.98 against the greenback and witnessed an intra-day high of ₹77.87 and a low of ₹78.03
The rupee appreciated by 7 paise to settle at ₹77.98 against the US dollar on Monday as crude oil prices retreated from elevated levels.
However, unabated foreign fund outflows restricted the appreciation bias in the rupee, forex dealers said.
At the interbank forex market, rupee opened strong at ₹77.98 against the greenback and witnessed an intra-day high of ₹77.87 and a low of ₹78.03.
It finally settled at ₹77.98, a rise of 7 paise over its previous close of ₹78.05.
“Rupee consolidated in a broad range despite volatility in domestic and global equities. Fed projection showed economic growth slowing to a below-trend rate of 1.7%,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
On the domestic equity market front, the BSE Sensex ended 237.42 points or 0.46% higher at 51,597.84, while the broader NSE Nifty advanced 56.65 points or 0.37% to 15,350.15.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was down 0.37% at 104.31.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.