Economy

  • Rupee ends at 60.29 up 8 paise against dollar April 17, 2014

    Mumbai: The rupee on Thursday gained by 8 paise to close the day at 60.29 against the dollar in line with the surge in stock markets, breaking three-day losing streak. Fresh dollar selling by exporters amid weak dollar overseas aided the rupee, forex dealers said, adding that sustained capital outflows...
  • Rupee at 3-week closing 60.37 against US dollar April 16, 2014

    Mumbai: The rupee on Wednesday lost 14 paise to register its three-week closing low of 60.37 against the dollar amid capital outflows and continuing demand for the US currency from oil refiners. At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 60.30 a dollar from the previous...
  • China needs to disclose foreign exchange market intervention: US April 16, 2014

    Washington: Like other large emerging market countries including India and Brazil, China also needs to disclose its foreign exchange market intervention to increase the credibility of its monetary policy framework and to promote exchange rate and financial market transparency, the United States has said. "In line with the practice of most...
  • Rupee ends at 60.23 vs US dollar, dips to two-week low April 15, 2014

    Mumbai: The Indian rupee on Tuesday lost six paise to register its two-week closing low of 60.23 against the dollar on sustained dollar demand from importers. A firm overseas and capital outflows also weighed on the rupee, a forex dealer said. At the Interbank Foreign Exchange (Forex) market, the domestic...
  • Rupee loses 10 paise against dollar April 11, 2014

    Mumbai: The rupee on Friday lost 10 paise to end the day at 60.17 against the dollar in line with fall in local stocks, amid fresh dollar demand from importers. Dollar gaining strength in overseas markets also hit the local currency, forex dealers said. The dollar index was up by...
  • Rupee ends higher by 7 paise at 60.07 against the US dollar April 10, 2014

    Mumbai: The rupee on Thursday gained 7 paise to settle the day at 60.07 against the dollar which quoted lower in overseas markets on hints that the Fed Reserve may keep interest rates low. Fresh selling of greenback by exporters and banks also aided the rupee to record gains, forex dealers...
  • Rupee recovers 26 paise vs dollar in early trade April 9, 2014

    Mumbai: The rupee on Wednesday appreciated by 26 paise to 59.85 against the dollar in early trade at the Interbank Foreign Exchange amidst IMF's forecast of improved growth prospects for India. Besides, a higher opening in the domestic equity market and strengthening of other Asian currencies against the dollar overseas supported...
  • India likely to see weak economic growth, says OECD April 8, 2014

    London: India and many major emerging economies are expected to see weak growth even as prospects have stabilised in most of the advanced countries, says a report by Paris-based think-tank OECD. Besides India, Brazil and Russia are likely to witness economic growth weakening whereas the prospects look better for China. The...
  • India's growth likely to recover to 5.4 per cent in 2014: IMF April 8, 2014

    Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said on Tuesday. "India's growth is expected to recover from 4.4 per cent in 2013...
  • Rupee up 29 paise against dollar in early trade April 7, 2014

    Mumbai: The rupee appreciated by 29 paise to trade at 59.79 against the US dollar in early trade on Monday on selling of the American currency by banks. Forex dealers said sustained foreign capital inflows also supported the rupee but a lower opening in the domestic equity market and dollar gains...
  • Sun Pharma up 3 per cent, BHEL falls 3 per cent; Sensex, Nifty end flat April 7, 2014

    Mumbai: After some heavy losses, the market ended flat but Nifty was below the 6700. The Nifty ended at 6695.05, up 0.70 points while the Sensex was down 16.05 points at 22343.45. Sun Pharma did not lose its grip even though the market was weak. The stock wrapped up...
  • Economy to boost mkt in long-term; current rally poll-driven April 3, 2014

    Though the outcome of the general elections will offer a short-term boost to the market, a sustained rally will be determined by the economic data, according to a JP Morgan Asset Management report. "Although investors are eagerly awaiting the results of the general elections as a catalyst to boost market confidence,...
  • Nifty ends above 6700; SBI loses 2 pc, pharma outperforms April 3, 2014

    Mumbai: Equity benchmarks retreated from record highs on Thursday with the Nifty snapping 10-day winning streak on account of profit booking in banks, oil & gas and capital goods stocks. The market fell as much as 0.8 percent intraday but it managed to trim losses in late trade. The Sensex...
  • How bad is the UPA's economic record? April 2, 2014

    New Delhi: The economic record of the United Progress Alliance (UPA) is a major election issue, and the Bharatiya Janata Party (BJP) is making the case that weak leadership and a welfarist ideology led the UPA to fritter away India's economic future. At a press conference on Sunday, BJP leader and...
  • Exclusive: Not worried about rupee overvaluation right now, says Rajan April 2, 2014

    Mumbai: Reserve Bank of India governor Raghuram Rajan said he was not worried about rupee overvaluation for now. Strong foreign fund inflows over the last couple of months have lifted the rupee to an 8-month high, stoking concerns that India's exports could become uncompetitive. "When we were at 60/$, people...
  • Modi represents crony capitalism, big businesses support him: FM March 31, 2014

    New Delhi: Finance Minister P Chidambaram on Monday hit out at Narendra Modi, the prime ministerial candidate of the BJP, saying he represented "crony capitalism" and big businesses which liked it, supported him. "Modi is associated with crony capitalists. Big businesses which are comfortable with the idea support him," he said. The...
  • RBI likely to maintain status quo in monetary policy on Tuesday March 31, 2014

    New Delhi: The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. "It would be quite a tough call for the RBI in the given scenario......
  • Chidambaram deteriorated a robust, healthy economy: Yashwant Sinha March 30, 2014

    New Delhi: Attacking the Congress led UPA government on the economy front, the Bharatiya Janata Party on Sunday hit out at the Finance Minister P Chidambaram for India's weak economic condition. BJP leader and former finance minister Yashwant Sinha accused Chidambaram of deteriorating a robust and healthy economy. He, in...
  • India, US discuss security, nuclear proliferation, trade March 29, 2014

    Seeking to bring ebbing bilateral ties back on track, India and the US on Saturday discussed maritime security and expanding regional trade in the Indo-Pacific Economic Corridor and beyond, administration officials said. During the sixth session of the US-India East Asia Consultations, top US officials "conveyed their condolences" to the Indian...
  • 2014 Lok Sabha elections: It's all about jobs March 29, 2014

    Patna: Old enough to vote for the first time, student Sheeba Shamim, the daughter of a middle class family, and young construction workers sweating on a nearby building site are impatient for a government in India that delivers jobs and hope for the future. They are among more than 100...
  • Rupee below 60 per dollar for first time in eight months March 28, 2014

    Mumbai: Continuing its rising streak, the rupee on Friday strengthened to below 60 level at 59.90 for the first time since July 2013 against the US dollar in late afternoon trade on sustained foreign fund flows. Dealers said sustained selling of the American currency by banks and exporters and ongoing bull-run...
  • US fourth-quarter growth raised to 2.6 per cent March 27, 2014

    US economic growth was a bit faster than previously estimated in the fourth quarter, displaying underlying strength that could bolster views that the slowdown in activity early in the year would be temporary. Gross domestic product expanded at a 2.6 per cent annual rate, the Commerce Department said on Thursday, up...
  • Nifty ends March series above 6600, Sensex up 119.07 points March 27, 2014

    Mumbai: It is a record closing of March F&O series with the Nifty ending at 6642, up 40.35 points. The Sensex was up 119.07 points at 22214.37. About 1668 shares have advanced, 1105 shares declined, and 158 shares are unchanged. SBI, Bharti Airtel, Hero Motocorp, GAIL and NTPC were...
  • Sensex, Nifty hit fresh record high on capital inflows March 26, 2014

    Mumbai: The BSE benchmark index Sensex on Wednesday climbed to all-time closing high of 22,095.30 points by gaining 40 points on sustained buying by foreign funds in bluechips on improving growth outlook amid a firming global trend. The National Stock Exchange's broad-based index Nifty also closed at record high of 6,601.40...
  • Stable UPA government providing strength to Indian economy, says Chidambaram March 25, 2014

    Finance Minister P Chidambaram on Tuesday rejected media analysis that the "hope" of a stable government after elections is bringing in investments and driving up the capital market and the value of Rupee. He maintained it is not "hope" but the "fact" of a stable government provided by UPA and the...
  • Rupee up 23 paise against dollar in early trade March 25, 2014

    Mumbai: Extending its rising streak, the rupee opened 23 paise up to trade at 60.54 against the US dollar today on heavy capital inflows. Dealers said sustained selling of the American currency by banks and exporters also supported the rupee but a lower opening of the domestic equity market and dollar's...
  • Sensex up 0.25 points, ends at 21832.86 March 19, 2014

    Mumbai: In choppy trade, the benchmark Sensex on Wednesday ended almost unchanged as gains in HDFC, ITC and Tata Steel shares were countered by losses in IT stocks like TCS and Infosys, amid global markets turning cautious ahead of a closely-watched US Federal Reserve policy meeting. After touching the day's high...
  • Rupee ends 24 paise higher at 60.95 against the US dollar March 19, 2014

    Mumbai: The rupee on Wednesday appreciated 24 paise to close at a nearly one-week high of 60.95 against the dollar following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows. The local currency that logged its best daily gain since March 6 seemed unperturbed by...
  • Rupee up 22 paise against dollar in early trade March 18, 2014

    Mumbai: The rupee gained 22 paise to 60.97 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market on increased selling of the US currency by exporters amid a higher opening in the domestic equity market. Besides, the WPI inflation that eased to a nine-month low in...
  • Economy will grow at 5.5 per cent in Q4, says C Rangarajan March 14, 2014

    Country's economy is likely to grow at 5.5 per cent in the fourth quarter of the current fiscal on higher agriculture output and pick up in the manufacturing activities, Prime Minister's Economic Advisory Council (PMEAC) chairman C Rangarajan said on Friday. "I see some greenshoots in Indian economy...In order to achieve...