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Economic Times
13 minutes ago
- Economic Times
Indian economy not slowing, early to assess tariff impact on GDP, chief economic advisor says
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The Hindu
13 minutes ago
- The Hindu
Stock markets climb in early trade as steady U.S. inflation data fuel global rally
Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday (August 13, 2025) as steady U.S. inflation data propelled a sharp rally in global markets. Besides, retail inflation slowing to an 8-year low of 1.55% in July also led to the positive trend in domestic equities. The 30-share BSE Sensex climbed 327.79 points to 80,563.38 in early trade. The 50-share NSE Nifty edged up by 112.15 points to 24,599.55. From the Sensex firms, Bharat Electronics, Tata Motors, Power Grid, Tata Steel, Eternal and Infosys were among the gainers. However, Maruti, Tech Mahindra, HCL Tech and Bajaj Finserv were among the laggards. Retail inflation slowed to an 8-year low of 1.55% in July, falling below the Reserve Bank's comfort zone for the first time since January 2019, helped by subdued prices of food items, according to government data released on Tuesday (August 12, 2025). "Nifty and Bank Nifty traded with a bullish undertone as positive cues from lower CPI readings in India and steady U.S. inflation boosted sentiment," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading in positive territory. The U.S. markets ended significantly higher on Tuesday. "The Trump-Putin talks may provide a positive trigger, but there is no certainty about it," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. Global oil benchmark Brent crude went up by 0.06% to $66.16 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,398.80 crore on Tuesday, according to exchange data. On Tuesday, the Sensex dropped 368.49 points or 0.46% to settle at 80,235.59. The Nifty went lower by 97.65 points or 0.40% to 24,487.40.
The Hindu
13 minutes ago
- The Hindu
Rupee falls 6 paise to 87.69 against U.S. dollar in early trade
The rupee traded in a tight range and slipped 6 paise to 87.69 against the U.S. dollar in morning trade on Wednesday (August 13, 2025) as depreciation pressures are still lingering amid persistent foreign fund outflows. Forex traders said the rupee is trading in a narrow range as the Reserve Bank of India has stepped up its efforts to curb excessive rupee depreciation. At the interbank foreign exchange market rupee opened at 87.63, then touched an intra-day low of 87.69 against the U.S. dollar in initial trade, lower by 6 paise from its previous close. On Tuesday (August 12, 2025), the rupee appreciated 12 paise to close at 87.63 against the U.S. dollar. In initial trade, the rupee touched an early high of 87.61 against the greenback. Following the U.S. CPI release, the probability of a Fed rate cut on September 17 rose sharply to 90% from 82%, CR Forex Advisors MD Amit Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.08% to 98.01, as markets continued to price in a September U.S. rate cut. Brent crude, the global oil benchmark, was up 0.09% at $66.18 per barrel in futures trade. On the domestic front, India's July retail inflation cooled sharply to 1.55%, marking the lowest level since June 2017. "Price pressures undershooting the Reserve Bank of India's inflation target are paving the way for more interest rate cuts this year, adding downward pressure on the rupee," Mr. Pabari said. "Amidst pressures, the Reserve Bank of India has reportedly stepped up its efforts to curb excessive rupee depreciation, selling at least $5 billion in both onshore and offshore markets this month. "While these interventions have provided short-term relief, persistent headwinds, including escalated trade tensions from higher U.S. tariffs, continue to leave the rupee vulnerable and depreciation risks alive," he added. On the domestic equity market front, the Sensex climbed 327.79 points to 80,563.38 in early trade, while the Nifty was up 112.15 points to 24,599.55. Foreign Institutional Investors offloaded equities worth ₹3,398.80 crore on Tuesday, according to exchange data.
