Monday, August 26, 2013
Sensex up 144 points in early trade
10:15 AM
alphaadvisory
Rupee, bonds weaken at open; further falls expected
10:05 AM
alphaadvisory
Mumbai: The rupee on Monday again turned weak and plunged 70 paise to 63.90 against the US dollar in early trade after strong recovery on Friday, due to increased demand for the American currency from importers and some banks.
Dealers said besides increased month-end demand for dollar from importers, dollar's gain against some currencies overseas put pressure on the domestic currency.
However, a higher opening in the domestic equity market, capped the rupee's fall, they said.
The rupee had made a stunning comeback by rising 135 paise to close at 63.20, its second-biggest rise in a decade against the dollar on Friday.
Meanwhile, the BSE benchmark Sensex rose further by 143.77, or 0.78 percent, at 18,663.21 in early trade today.
Wednesday, August 21, 2013
Financial Tech slips 20% as NSEL defaults on payout
10:57 AM
alphaadvisory
NEW DELHI: Financial Technologies (India) Ltd plunged as much as 20 per cent in morning trade after its subsidiary National Spot Exchange (NSEL) defaulted on payments to investors on Tuesday.
The first payout from borrowers on NSEL to 148 broker members, representing 13,000 investors, was unsuccessful with the exchange managing to recover Rs 92.12 crore against the Rs 174.72 crore it was supposed to pay out every week for the next five months beginning August 20.
The total amount due to be paid out is Rs 5574.31 crore over 30 weeks.
At 09:40 a.m.; Financial Technologies recouped some of the morning losses and was trading 6.3 per cent lower at Rs 132.40. It has hit a low of Rs 113.05 and a high of Rs 140 in trade today.
Shares in Multi Commodity Exchange of India, another FT-promoted entity were locked in upper circuit on the Bombay Stock Exchange. The stock was up 5 per cent at Rs 281.55.
On Tuesday, market regulator FMC wrote a letter to the bourse's board saying it risked losing its "fit and proper person" status, and warned that in the event of such an "eventuality" it could not continue to hold directorship or shareholding in MCX or any other recognised commodity futures exchange.
" Anjani Sinha, MD & CEO, and six other officials of NSEL were stripped of their posts on Tuesday after the troubled bourse failed to clear its first payout," ET reported.
"NSEL's inability to meet the payout obligations may also cast a cloud of doubt on NSEL promoter FTIL's fitness to retain control over other exchanges such as MCX and MCX-SX," added the ET report.
Rupee could touch 70 Vs dollar in a month or so
10:56 AM
alphaadvisory
Mumbai: The rupee could touch 70 against the US dollar in a month or so, although some revival is expected in the currency by the end of the year, Deutsche Bank said in a report on Wednesday.
"We continue to believe that fundamentally the rupee is undervalued and has overshot its equilibrium level substantially, but as numerous episodes of past currency crises have amply demonstrated, under a scenario of deep pessimism, currencies can overshoot substantially and remain so for a long time," economists at the bank wrote in the report.
"India, we fear, is entering such a zone".
The partially convertible rupee dropped to a record low of 64.13 per dollar on Tuesday and was trading at 63.38/42 on Wednesday, weaker than its close of 63.25/26.
Monday, August 19, 2013
Wednesday, August 14, 2013
Tuesday, August 13, 2013
Monday, August 12, 2013
Thursday, August 8, 2013
Wednesday, August 7, 2013
Oil futures hold mild gain after inventory decline http://on.mktw.net/189iUXS
12:07 PM
alphaadvisory
Infra stocks now going cheaper than a kilo of onions | Business Standard: http://www.business-standard.com/article/markets/infra-stocks-now-going-cheaper-than-a-kilo-of-onions-113080700314_1.html#.UgHlig4HE3c.twitter …
12:05 PM
alphaadvisory
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