A cracker of a start to Samvat 2081: Indices climb nearly half a percent in Muhurat Trading Session
The local trader community actively participates in the Muhurat trading session, engaging in token transactions with an intent to take home profits. Making money in this hour is considered auspicious, setting the tone for the year to come.
India’s forex reserves fall by $3.5 billion
The Reserve Bank of India’s foreign exchange reserves decreased by $3.5 billion to $684.8 billion in the week ended September 25, primarily due to the central bank’s dollar sales to prevent rupee depreciation. Foreign currency assets fell significantly while gold reserves saw a rise. Outflows from Indian stocks and bonds added pressure on the rupee.
In dead-heat US polls, hedge funds hunt for trades
As the nearly deadlocked race nears, some are looking for so-called “asymmetric trades” involving bitcoin or the yuan, assets which could yield big profits if Trump wins but would not cause big losses if the wagers are wrong. “Trading the election is difficult given how tight it is,” said Edoardo Rulli, head of UBS Hedge […]
RINL’s SBI-led lender consortium to go for uniform debt rejig
Lenders have formed a consortium led by SBI to create a uniform debt resolution plan for RINL, which has been operating at one-third capacity. SBI Capital Markets is preparing the plan. RINL has missed payments and was downgraded to default category, but received a Rs 1,650 crore infusion from the government recently.
Bond traders scour US jobs data for clues on Fed’s rate plan
US bonds edged higher in early trading Friday after ending October with their worst monthly performance in two years. With the election and a Fed meeting days away, a measure of daily yield swings is at its highest in a year as traders position for further losses that could send 10-year yields as high as […]