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Rupee falls 16 paise to close at 89.79 against US dollar

Mumbai, Dec 24 (PTI) The rupee pared initial gains and settled for the day lower by 16 paise at 89.79 (provisional) against the US dollar on Wednesday, fuelled by persistent capital withdrawals from foreign investors, alongside heightened greenback demand from bullion importers. Forex traders said that despite the central bank’s announcement of USDINR swaps and Open Market Operations (OMO), the measures failed to boost market sentiments, amid strong dollar demand and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 89.56 against the US dollar, then touched an intra-day high of 89.51, registering a 12-paise gain

Silver surges to record Rs 2.27/kg in Delhi; breaches USD 72/ounce-mark in global markets

New Delhi, Dec 24 (PTI) Silver prices surged Rs 9,750 to hit a new record of Rs 2,27,000 per kilogram in the national capital on Wednesday, even as the white metal breached the USD 72 per ounce-mark in overseas markets, according to the All India Sarafa Association. On Tuesday, the metal had settled at Rs 2,17,250 per kg. “Spot silver crossed the USD 72 level as the bullion prices hit record highs in the international markets,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. During the calendar year, the white metal has risen by Rs 1,37,300, or 153.06

Stock markets trade higher in early deals

Mumbai, Dec 24 (PTI) Benchmark equity indices Sensex and Nifty rallied in early trade on Wednesday, tracking a positive trend in global markets and consistent buying by domestic institutional investors. The 30-share BSE Sensex climbed 115.8 points to 85,640.64 in early trade. The 50-share NSE Nifty went up by 40.7 points to 26,217.85. From the 30-Sensex firms, Bajaj Finance, NTPC, Trent, Bharat Electronics, Adani Ports and Eternal were among the gainers. However, Tech Mahindra, Infosys, HCL Tech and Sun Pharma were among the laggards. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong

Rupee rises 12 paise to 89.51 against US dollar in early trade

Mumbai, Dec 24 (PTI) The rupee appreciated 12 paise to 89.51 against the US dollar in early trade on Wednesday, supported by the RBI’s major liquidity announcement and the weakness of the American currency in the overseas market. Forex traders said the rupee started the day on a stronger note after the RBI announced sufficient liquidity for the markets to the extent of approx. Rs 3 lakh crore, which will also allow the RBI to keep rupee weakness under control. At the interbank foreign exchange market, the rupee opened at 89.56 against the US dollar, then gained some ground and

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