Rupee slips to 75.35 against US dollar as crude oil spikes
The Hindu
Global oil benchmark Brent crude futures jumped 5.46% to $103.28 per barrel amid a war in Ukraine
The rupee slipped by 2 paise to 75.35 (provisional) against the U.S. dollar on Monday due to rising crude oil prices amid deepening tensions between Russia and Ukraine.
Sustained foreign capital outflows also weighed on investor sentiment, forex traders said.
At the interbank foreign exchange market, the rupee opened weak at 75.73 against the U.S. dollar. However, it recovered most of its losses to quote at 75.35 at 3.30 p.m., down 2 paise from the previous close.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.46% higher at 97.06.
Global oil benchmark Brent crude futures jumped 5.46% to $103.28 per barrel amid a war in Ukraine.
On the domestic equity market front, the 30-share Sensex ended 388.76 points or 0.70% higher at 56,247.28, while the broader NSE Nifty rose 135.50 points or 0.81% to close at 16,793.90.
Foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth ₹4,470.70 crore, as per stock exchange data.
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.