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Indian shares tumbled on Wednesday, weighed down by capital outflow worries after the rupee tumbled to hit a record low against the dollar, succumbing to growing risk aversion due to the euro zone crisis and amid concerns about India’s widening current account and fiscal deficits. The rupee pared early losses after finance minister Pranab Mukherjee [...]
Continue Reading →Indian shares rebounded on Tuesday, as bargain hunters stepped in after five straight days of losses. Falling oil prices and the strengthening of rupee from a near record low against the dollar amidst what dealers called “massive” intervention from the Reserve Bank of India also encouraged investors to cherry-pick battered stocks.
Continue Reading →Indian shares are trading moderately higher on Tuesday, as investors hunted for bargains after five straight days of losses. U.S. crude futures extended losses, dropping towards $94 a barrel this morning and the Reserve Bank of India is believed to have intervened in the forex market to check rupee volatility, offering some support to battered [...]
Continue Reading →Indian shares fell on Monday after government data showed India’s headline inflation accelerated to 7.23 percent in April, making it difficult for the RBI to moderate monetary policy. Negative global cues, especially a sell-off in Europe on fears that Greece will soon exit the eurozone also prompted investors to move to the sidelines.
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