Chhatrapati Shivaji Maharaj Jayanti: Forex Markets Remain Shut On Wednesday
Domestic forex markets remained shut on Wednesday on account of Chhatrapati Shivaji Maharaj Jayanti. On Tuesday, the rupee had declined by 22 paise to close at a nearly three-week low of 71.54 against the US dollar, as concerns over the economic fallout from coronavirus outbreak continued to roil foreign exchange (forex) market sentiment. The money markets will resume trading on Thursday, and will again remain shut the next day for the Mahashivratri holiday.
Meanwhile, domestic stock markets rebounded from two-week lows on Wednesday, with the S&P BSE Sensex index jumping more than 400 points in intraday trade and the broader NSE Nifty benchmark moving back above the 12,100 mark amid gains across sectors.Â
Finance Minister Nirmala Sitharaman said on Tuesday that the government would announce measures to tackle the financial fallout from the coronavirus outbreak amid a fall in new cases in China.
The finance minister met more than 200 business leaders to assess the impact of the coronavirus on Tuesday, and said the government would unveil measures to help businesses. However, she did not elaborate on what measures the government would take to limit the impact.
On that day, the benchmark indices closed at their lowest levels recorded since February 4, declining for the fourth session in a row.
The capital markets will also be shut on Friday on account of Mahashivratri.
In March, the forex markets will remain closed for two days for the Holi and Navaratri festivals on the 10th and 25th day of the month respectively.Â
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
