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Mumbai, The rupee turned flat at 82.89 against the US dollar in early trade on Wednesday, resisting pressure amid unabated outflow of foreign funds and increased month-end demand of the American currency. According to forex analysts, crude oil prices hovering above <keyword id="19944038" type="General" weightage="20" keywordseo="usd" source="keywords">USD</keyword> 83 per barrel also weighed on the domestic currency, however, positive equity markets provided cushion and capped a steep fall in the rupee. Investors were also awaiting cues from US GDP data to be released later in the day and domestic GDP (Gross Domestic Product) numbers later this week, they said. At the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback. On Tuesday, the rupee settled 1 paisa lower at 82.89 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.09 per cent higher at 103.92. <keyword id="20241049" type="General" weightage="20" keywordseo="gaurang-somaiya" source="keywords">Gaurang Somaiya</keyword>, forex and bullion analyst <keyword id="19969289" type="General" weightage="20" keywordseo="motilal-oswal-financial-services" source="keywords">Motilal Oswal Financial Services</keyword>, said the dollar index traded neutral against its peers after the US data showed the consumer confidence index for February dropped lower than anticipated. Also, the data on durable goods orders revealed a contraction. "Currently, <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> watch tool suggests that market participants are pricing rate cuts to begin no time before June, and the upcoming core <keyword id="19906790" type="General" weightage="20" keywordseo="pce" source="keywords">PCE</keyword> (Personal Consumption Expenditures) price index tomorrow and GDP figures today will be heavily watched for," he said, adding that the USD-INR (Spot) is expected to trade "sideways and quote in the range of 82.80-83.20". Brent crude futures, the global oil benchmark, were trading 0.49 per cent lower at USD 83.24 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 17.46 points or 0.02 per cent higher at 73,112.68 points. The broader NSE Nifty rose 10.10 points or 0.05 per cent to 22,208.45 points. Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday as they sold shares worth Rs 1,509.16 crore on a net basis, according to exchange data.

Rupee turns flat at 82.89 against US dollar in early trade

New Delhi, The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> rose 1 paisa to 83.36 against the US dollar in early trade on Tuesday amid foreign fund inflow and softening of the American currency against its major rivals. According to forex traders, positive cues from the domestic equity market also boosted investors' sentiment while the upward movement of crude oil prices weighed on the Indian currency. At the interbank foreign exchange market, the local unit opened at 83.36 against the greenback. The rupee touched the intra-day peak of 83.35 before trading at 83.36 against the American currency, up 1 paise from its previous close. On Monday, the domestic currency settled at 83.37 against the US dollar. "Yesterday, the dollar against its major crosses also traded with low volatility as market participants remain cautious ahead of the important FOMC (Federal Open Market Committee) policy statement that is scheduled to be released later this week," <keyword id="12834279" type="General" weightage="80" keywordseo="gaurang-somaiya" source="Orion">Gaurang Somaiya</keyword>, forex and bullion analyst at <keyword id="113829" type="General" weightage="80" keywordseo="motilal-oswal-financial-services" source="Orion">Motilal Oswal Financial Services</keyword>, said. He said traders will also keep a tab on the domestic inflation data as well as industrial output numbers to be released later in the day. "We expect the USD-INR (spot) to trade sideways and quote in the range of 83.20 and 83.50," Somaiya said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent higher at 103.58 on Tuesday. Brent crude futures, the global oil benchmark, advanced 0.28 per cent to USD 76.24 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 77.50 points or 0.11 per cent higher at 70,006.03 points. The broader NSE Nifty jumped 32.85 points or 0.16 per cent at 21,029.95 points. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Monday as they bought shares worth Rs 1,261.13 crore, according to exchange data.

Rupee rises 1 paisa to 83.36 against US dollar in early trade

Mumbai, The rupee appreciated by 16 paise to settle at 82.56 against the US dollar on Thursday, marking its third straight day of gains on the back of softening crude oil prices and foreign funds inflows. The upward trend in the past three sessions led to a gain of 57 paise in the Indian currency, rebounding from its all-time low level of 83.11 against the greenback witnessed on Monday. According to reports, the rupee's sharp gain was attributed to the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s move to prevent banks from short-term trading in offshore currency markets. The cautious move by investors ahead of the BRICS summit and US Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium restricted the upward movement of the dollar even as negative sentiment in the domestic equity markets weighed on the Indian currency, forex analysts said. "Expectation is that the Fed Chairman could maintain a hawkish tone and that could extend gains for the greenback," Gaurang Somaiya, Forex and bullion analyst <keyword id="248720" type="General" weightage="50" keywordseo="motilal-oswal-financial" source="Orion">Motilal Oswal Financial</keyword> Services said. At the interbank foreign exchange, the domestic unit opened strong at 82.55 and moved in the range of 82.36 and 82.61 against the American currency. It finally settled at 82.56 against the greenback, registering a gain of 16 paise over its previous close. On Wednesday, the rupee registered the highest single-day gain in more than two months and appreciated by 27 paise to close at 82.72 against the dollar. Earlier, the domestic unit witnessed the maximum intra-day gain of 35 paise on June 16 this year. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said, "Indian rupee gained for the third consecutive day on weakening US dollar and easing crude oil prices. The rupee also gained on reports that the Reserve Bank of India has asked banks not to indulge in short-term trading in the offshore markets." On Wednesday, the dollar initially gained on disappointing PMI data from the Eurozone and the UK but lost its initial gains on weaker-than-expected manufacturing and services PMI from the US. Choudhary said the rupee is expected to trade with a "slight positive bias on extended weakness in the US dollar and retreating crude oil prices". However, weak domestic markets may cap the upside. "Traders may remain cautious ahead of weekly unemployment claims and durable goods orders data from the US while investors may remain cautious ahead of Fed Chair Jerome Powell's speech at Jackson Hole Symposium tomorrow. USDINR spot price is expected to trade in a range of Rs 82.20 to Rs 82.85," he added. Jateen Trivedi, VP Research Analyst at LKP Securities, said India's moon mission with the successful landing of Chandrayaan-3 will attract the global investors' interest in the country's science and technology sector, offering robust support to the rupee. However, the rupee faced resistance due to the elevated level of dollar index hovering above 103. "The market's focus is now centered on the release of the Reserve Bank of India's meeting minutes, scheduled for later in the evening, along with the ongoing Jackson Hole Symposium, which will span over the next few days. "Given these factors, the rupee's trading range is anticipated to fall within 82.30 to 82.90, reflecting the prevailing market dynamics and influences," Trivedi added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.20 per cent to 103.62. Global oil benchmark Brent crude futures climbed 0.37 per cent to <keyword id="54123" type="General" weightage="80" keywordseo="usd" source="Orion">USD</keyword> 83.52 per barrel. On the domestic equity market front, the <keyword id="53232" type="General" weightage="50" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> closed 180.96 points or 0.28 per cent lower at 65,252.34. The broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> declined 57.30 points or 0.29 per cent to 19,386.70. <keyword id="6438315" type="General" weightage="50" keywordseo="foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (FIIs) were net buyers in equities on Thursday as they purchased shares worth Rs 1,524.87 crore, according to exchange data.

Rupee rises for third day on forex inflows, softening crude oil

Mumbai, The rupee recovered from its all-time low levels and appreciated by 5 paise to 83.05 against the US dollar in early trade on Monday tracking a positive trend in domestic equities. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 83.05 against the American currency, registering a rise of 5 paise over its last close. On Friday, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar, weighed down by a negative trend in domestic equities, and foreign fund outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 103.39. Dollar witnessed its longest winning streak in the last 15 months following safe haven buying on the back of uncertainty in China and better-than-expected economic numbers from the US, said Gaurang Somaiya, forex and bullion analyst, <keyword id="248720" type="General" weightage="50" keywordseo="motilal-oswal-financial" source="Orion">Motilal Oswal Financial</keyword> services. Rising uncertainty over economic recovery in China is leading to weakness in the Chinese Yuan and thereby weighing on the rupee, Somaiya added. Most investors will be taking cues from the BRICS summit and the Jackson Hole Symposium. "We expect the USDINR(Spot) to trade sideways and quote in the range of 82.80 and 83.30," Somaiya said. Brent crude futures, the global oil benchmark, rose 0.73 per cent to <keyword id="54123" type="General" weightage="80" keywordseo="usd" source="Orion">USD</keyword> 85.42 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 117.43 points or 0.18 per cent higher at 65,066.09. The broader NSE Nifty advanced 26.40 points or 0.14 per cent to 19,336.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 266.98 crore, according to exchange data. Meanwhile, India's foreign exchange reserves jumped USD 708 million to USD 602.161 billion for the week ended August 11, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous week, the overall reserves had declined USD 2.417 billion to USD 601.453 billion.

Rupee rises 5 paise to 83.05/USD tracking domestic equities

The rupee depreciated by 37 paise to close at 81.63 (provisional) against the US dollar on Thursday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities. Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>. At the interbank foreign exchange market, the local unit opened at 81.62 and later witnessed an intraday high of 81.45 and a low of 81.68 during the session. The domestic unit finally settled at 81.63 against the American currency, registering a fall of 37 paise over its last close. On Wednesday, the rupee depreciated by 35 paise to close at 81.26 against the US dollar. US retail sales posted the biggest increase in eight months in October. UK inflation number came in at 11.1 per cent, to a 41-year high, as compared to 10.1 per cent in the previous month, said <keyword id="12834279" type="General" weightage="80" keywordseo="gaurang-somaiya" source="Orion">Gaurang Somaiya</keyword>, Forex &amp; Bullion Analyst, <keyword id="113829" type="General" weightage="80" keywordseo="motilal-oswal-financial-services" source="Orion">Motilal Oswal Financial Services</keyword>. "We expect the USD-INR (Spot) to trade sideways and quote in the range of 81.05 and 81.60," Somaiya said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.26 per cent to 106.55. Global oil benchmark Brent crude futures declined 0.40 per cent to USD 92.49 per barrel. On the domestic equity market front, the 30-share <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> Sensex fell 230.12 points or 0.37 per cent to end at 61,750.60, while the broader NSE Nifty declined 65.75 points or 0.36 per cent to 18,343.90. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 386.06 crore on Wednesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/india-inc-q2-fy23-revenue-rises-to-25-6-lakh-crore-here-are-the-winners-and-losers/slidelist/95577982.cms">India Inc. Q2 FY23 revenue rises to ₹25.6 lakh crore – here are the winners and losers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bank-strike-on-saturday-operations-in-some-public-sector-banks-likely-to-be-hit/articleshow/95579052.cms">Bank strike on Saturday: Operations in some public sector banks likely to be hit</a>

Rupee falls 37 paise to close at 81.63 against US dollar

Total assets under management (<keyword id="135675" type="General" weightage="20" keywordseo="AUM" source="Orion">AUM</keyword>) for the <keyword id="6354820" type="General" weightage="20" keywordseo="mutual-fund" source="Orion">mutual fund</keyword> industry declined for the second consecutive month to Rs 35.6 trillion (-4.2 per cent month-on-month) in June'22 -- the lowest level since August'21 -- led by a decline in AUM for income (Rs 711b), equities (Rs 405b), liquid (Rs 219b), other ETFs (Rs 115b). A report by <keyword id="113829" type="General" weightage="80" keywordseo="motilal-oswal-financial-services" source="Orion">Motilal Oswal Financial Services</keyword> said <keyword id="6391506" type="General" weightage="20" keywordseo="equity" source="Orion">equity</keyword> AUM for domestic MFs (including ELSS and index funds) decreased 2.9 per cent MoM to Rs 13.8t in June'22. This was due to a decline in equity scheme sales (down 7.6 per cent MoM to Rs 355b). Further, market indices closed lower (the <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> was down 4.8 per cent MoM). At the same time, redemptions dipped 15.4 per cent MoM to Rs 127b - at a 25-month low. Consequently, net inflows declined marginally to Rs 228b in June'22, from Rs 234b in May'22. The month saw notable changes in the sector and stock allocation of funds. On a MoM basis, the weights of automobiles, oil &amp; gas, consumer, healthcare, telecom, and PSU banks increased, while the weights of private banks, metals, NBFCs, cement, retail, utilities, textiles, insurance, and chemicals moderated. Automobiles' weight increased for the third consecutive month to a 42-month high of 7.6 per cent (+50bp MoM, +110bp YoY). The sector now ranks third in the allocation of mutual funds -- it was in the fourth position a month back. Oil &amp; Gas weight stands at a 18-month high of 7.3 per cent (+20bp MoM and +40bp YoY). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/oyo-rolls-out-a-discount-for-mumbais-stranded-commuters-as-the-city-stays-on-orange-alert-till-july-14/articleshow/92827833.cms">OYO rolls out a discount for Mumbai’s stranded commuters as the city stays on orange alert till July 14</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/heres-why-lower-unit-price-of-a-mutual-fund-doesnt-mean-higher-returns/articleshow/92824945.cms">Here’s why lower unit price of a mutual fund doesn't mean higher returns</a>

Mutual fund industry's total assets decline for the second consecutive month

The <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> is aiming to de-dollarize <keyword id="176734" type="General" weightage="20" keywordseo="Global-trade" source="Orion">global trade</keyword> and the Indian economy, <keyword id="113829" type="General" weightage="50" keywordseo="motilal-oswal-financial-services" source="Orion">Motilal Oswal Financial Services</keyword> said in a report. In another move aimed at supporting the currency, the RBI allowed international trade settlement in <keyword id="164031" type="General" weightage="80" keywordseo="inr" source="Orion">INR</keyword> on Monday. "In order to promote growth of global trade with emphasis on exports from <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> and to support the increasing interest of the global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports and imports in INR," the press release issued by the RBI stated. While this seems like a welcome initiative, we believe that it is a long drawn process and is likely to play out fully over decades. Implementation of this process will require extensive deliberations with trading partners. The success of this measure will depend on how many of them are willing to trade in the INR. There is a possibility that if India asks for its import settlement in INR, the trading partner may ask for its import settlement in its local currency, which indicates that RBI, along with other central banks, will have to hold their foreign exchange reserves in many currencies. If so, it could further increase volatility and fluctuations in the currency market, the report said. Foreign exchange reserves held with the RBI comprise four components -- foreign currency assets (FCA), gold, Special Drawing Rights (SDR), and reserve tranche position (RTP) with the <keyword id="6366068" type="General" weightage="50" keywordseo="international-monetary-fund" source="Orion">International Monetary Fund</keyword> (IMF). On an average, 93 per cent of total foreign exchange reserves constitute FCA. The latter is maintained with the RBI as a multi-currency portfolio comprising major currencies (such as the US dollar, <keyword id="6431122" type="General" weightage="50" keywordseo="euro" source="Orion">Euro</keyword>, Pound sterling, and the Japanese yen), and is valued in <keyword id="54123" type="General" weightage="50" keywordseo="usd" source="Orion">USD</keyword> terms. This move can also help reduce the effectiveness of US sanctions recently imposed on Russia on account of its invasion of Ukraine, or sanctions imposed even otherwise. If the INR has to play an international role, it needs to be more freely determined. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/playboy-hops-on-to-the-metaverse-with-sandbox/articleshow/92823386.cms">Playboy hops on to the Metaverse with Sandbox</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/best-bollywood-actor-and-actress-comeback-to-ott/slidelist/92802567.cms">Best Bollywood comebacks to OTT; Sushmita Sen, Karisma Kapoor, Bobby Deol and more</a>

You Searched For "Motilal Oswal Financial Services Ltd" and got 7 results

Rupee turns flat at 82.89 against US dollar in early trade

PTI

Rupee rises 1 paisa to 83.36 against US dollar in early trade

PTI

Rupee rises for third day on forex inflows, softening crude oil

PTI

Rupee rises 5 paise to 83.05/USD tracking domestic equities

PTI

Rupee falls 37 paise to close at 81.63 against US dollar

PTI

Mutual fund industry's total assets decline for the second consecutive month

IANS

De-dollarizing global trade is a great move but will take decades to play out says Motilal Oswal

IANS

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