Dollar shaky after euro rebound; yen mired at 34-year low
The dollar index – which measures the currency against six major peers including the euro, sterling and yen – was flat at 105.64 in early Asian trading after slumping 0.4% overnight and touching the lowest level since April 12 at 105.23.
FPI assets hit new high amid rising bets on capital goods and auto stocks
The auto and capital goods sectors had inflows of $815 and $1,157 million respectively as of April 15 on a year-to-date basis resulting in total inflows of $1.9 billion.
FPIs lap up power, financial services stocks in April; IT, FMCG see biggest outflows
Power sector received the highest inflow from foreign investors, who bought shares worth ₹5,143 crore after buying ₹45 crore in March. In 2023, the sector witnessed inflows worth ₹2,477 crore. With the government expected to boost the country’s power capabilities as part of its ambition to make India into a manufacturing hub, the focus is […]
D-Street goes short on fear, VIX plunges 20%
“The drop in VIX is unprecedented, as previously readings of VIX near 8-9% were seen when markets were making a top. This is showing that traders have become overly positive about the upcoming days.”
Top brokerages bullish on Reliance, raise price targets
Analysts said that Reliance’s balance sheet remains strong but growth in retail and oil-to-chemical businesses is expected to be muted in the short term, but the company’s digital services led by Jio could be a key driver.
RBI’s dollar purchases in Feb highest since June 2021
In January, the RBI had net purchased $1.9 billion in the spot market, the central bank’s April 2023 Bulletin showed. In February, the RBI did not sell US dollars in the currency market.
Sudarshan Chemical jumps 19% on rival’s bankruptcy
“Sudarshan Chemical stands to gain meaningful share in the export as well as domestic markets,” said Sandeep Abhange, research analyst at LKP Securities.