Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the U.S. dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows. … [Read more...] about Rupee gains 6 paise to close near five-month high of 72.99 against U.S. dollar
Investments in foreign currency
Rupee gains 7 paise to trade near 5-month high of 72.98 against U.S. dollar
Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the U.S. dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows. … [Read more...] about Rupee gains 7 paise to trade near 5-month high of 72.98 against U.S. dollar
Celebrations at Dalal Street; Sensex crosses 50k mark for the first time
The BSE barometer of top 30 firms, S&P BSE Sensex, reached the 50,000-mark for the first time on Thursday, hitting a record high of 50,140 in opening deals. The market capitalisation of listed firms on the BSE, too, touched a record high of Rs 199 trillion.Sensex’s journey from 45,000 to 50,000 currently is the fastest 5,000-point rally in the history of Dalal Street’s oldest equities index and was completed in just 48 days. It’s run from 40,000 to 45,000 levels took 561 days to accomplish.According to experts, Foreign Portfolio Investors have been the main driver behind the market rally in India. After the initial bout of selling in the earlier part of 2020, FPIs have been consistently buying Indian equities so far. As per the data available with the NSE, In the year 2020, FPI made a net equity investment of Rs 1.5 lakh crore into the Indian market.Vijay Chandok - MD & CEO, ICICI Securities said- "Sensex crossing the important milestone of 50,000 is a telling … [Read more...] about Celebrations at Dalal Street; Sensex crosses 50k mark for the first time
Turkey seeks to enhance ties with ASEAN amid COVID-19 economic woes
"Through the activities of this group, we aim to create the perception of being a direct partner, not a sectoral dialogue partner, for the ASEAN countries and increase the effectiveness of the Turkish business world in the region," Olpak said on Tuesday in an online meeting with journalists. … [Read more...] about Turkey seeks to enhance ties with ASEAN amid COVID-19 economic woes
Economic Watch: Zooming into China’s economy in 2020 beneath headline growth
At the policy level, China is stepping up efforts to develop the digital economy and increase investments in "new infrastructure" such as 5G networks and data centers, which is expected to generate new driving forces for the economic recovery from the pandemic. … [Read more...] about Economic Watch: Zooming into China’s economy in 2020 beneath headline growth
