The rupee depreciated by 14 paise to close at 71.02 against the US dollar on Monday as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.
The rupee on Friday closed almost flat at 70.88 against the US dollar after the Reserve Bank of India in a widely expected move cut key interest rates by 0.25 percentage point. At the interbank foreign exchange market, the rupee had opened strong at 70.82 against the US dollar at the interbank forex market.
Stock market benchmark BSE Sensex plummeted by 434 points on Friday due to heavy losses in banking and FMCG stocks despite a 25 basis point cut in the key policy rate by the RBI which also slashed the growth outlook for this fiscal.
The BSE benchmark Sensex plunged nearly 362 points on Tuesday due to an across-the-board sell-off as financial sector woes, auto sales slump and weak macro data spooked investors.
Gold prices fell by Rs 58 to Rs 38,140 per 10 gram in the national capital on Tuesday, while silver zoomed Rs 2,360 to Rs 47,580 per kilogram, according to HDFC Securities.
Equity benchmark Sensex fell over 155 points on Monday to close at 38,667.33 due to a massive sell-off in banking stocks as investors turned cautious on the financial services space.
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Investor wealth soared for the second consecutive session on Monday, rising by Rs 10.35 lakh crore in two sessions, as market sentiment remained euphoric after a host of measures were announced to boost slowing economic growth.
Extending gains for the second consecutive session, domestic equity benchmark BSE Sensex skyrocketed 1,075 points on Monday driven by continued euphoria over the government's tax booster.
Bulls took over the market after the government slashed corporate tax rates for companies by almost 10 percentage points to 25.17 per cent to bring them at par with Asian rivals such as China and South Korea.
Domestic equity benchmark BSE Sensex vaulted 1,921 points on Friday, fuelled by a slew of economy-boosting measures announced by Finance Minister Nirmala Sitharaman. Logging its biggest intra-day spike in over a decade, the 30-share index soared 2,284.55 points to a peak of 38,378.02, before settling 1,921.15 points or 5.32 per cent higher at 38,014.62.
The govt on Friday slashed corporate tax rates for companies by almost 10 per cent to 25.17 per cent to bring them at par with Asian rivals, as it looked to boost demand and investments.
Gold prices declined by Rs 150 to Rs 38,905 per 10 gram in the bullion market here on Tuesday due to weak demand, according to HDFC Securities.
The BSE benchmark Sensex on Monday slipped nearly 262 points due to panic sell-offs by investors who were caught off guard by massive spike in crude prices after drone attack on the Saudi Arabia's largest oil processing facility.
Gold on Monday climbed Rs 460 to Rs 38,860 per 10 gram in the national capital on a weak rupee and higher oil prices, which led to investors opting for safe haven commodities, according to HDFC Securities.
The BSE benchmark Sensex rallied 281 points on Friday, led by financial and IT stocks as hopes of another rate cut by RBI boosted investor sentiment. After swinging 413 points, the 30-share index ended 280.71 points, or 0.76 per cent, higher at 37,384.99. It hit an intra-day high of 37,413.50 and low of 37,000.09.
Gold and silver prices on Friday witnessed recovery, with the yellow metal rising Rs 70 to Rs 38,695 per 10 gram in the national capital, according to HDFC Securities. Silver prices also witnessed a gain of Rs 172 to Rs 48,400 per kilogram. On Thursday, it closed at Rs 48,228 per kilogram.
Investor wealth dropped Rs 2.55 lakh crore on Tuesday following a sharp plunge in the equity market as investor sentiment went for a toss amid concerns related to economic crisis and trade issues. The BSE benchmark Sensex tumbled 769.88 points, or 2.06 per cent, to close at 36,562.91.
Prices of 24 karat gold rose by Rs 538 to Rs 38,987 per 10 gram in the national capital on Tuesday, mainly on the back of recovery in global rates, according to HDFC Securities. Silver prices too witnessed similar trends. The rate of silver zoomed by Rs 1,080 to Rs 47,960 per kilogram in the national capital, as per the data.
The BSE Sensex snapped its three-session rising streak to close 189 points lower on Wednesday, led by losses in metals, energy, banking and auto counters, as global markets wobbled amid recession fears. Profit-booking following the recent rally and a depreciating rupee also weighed on bourses, traders said.
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