86.75: Rupee drops to 5-month low vs dollar
MUMBAI: The rupee weakened to a five-month low on Monday, closing at 86.75 against the dollar, down 26 paise from its previous close of 86.59. The decline mirrored a broader drop in Asian currencies, as investors turned to the greenback amid escalating geopolitical tensions in West Asia.
The rupee is likely to stay in the 86.50-86.90 range in the near term, depending on oil prices. TNN
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
39 minutes ago
- India Today
Stock market today: Sensex, Nifty to rally on Iran-Israel ceasefire?
Sensex and Nifty are expected to open on a positive note on Tuesday, following gains in the broader Asian markets. This upward movement comes after U.S. President Donald Trump announced a ceasefire agreement between Iran and Israel, which has led to a drop in oil Gift Nifty futures were trading at 25,297.50 as of 8:10 a.m., indicating that the Nifty50 will open above its previous close of 24,971.9. This suggests a positive start for the markets, aligning with the broader trend observed in Asia, where indices have shown resilience despite recent geopolitical the ceasefire announcement, oil prices fell to a one-week low, and the MSCI Asia ex-Japan index climbed by over 1.5%. The benchmark Nifty and Sensex indices had slipped by about 0.6% each on Monday, largely due to foreign investors withdrawing amidst rising geopolitical tensions in the Middle East. However, the ceasefire has brought a sense of relief, potentially stabilising the markets in the short recent uncertainties, the 50-stock index has gained about 1% in June, marking its fourth consecutive monthly gain. This positive trend is largely attributed to central bank easing policies and robust domestic growth Ambala, Co-Founder of Stock Market Today, remarked, "We can expect Nifty to find support between 24,850 and 24,720 and meet resistance between 25,080 and 25,210 in the next intraday trading session."advertisementBajaj Broking Research said that the index formed a high wave candle which remained enclosed inside previous session price range signalling consolidation amid rise in geopolitical further elaborated, "Stock specific action remained in focus in today's session. Going forward, index to maintain positive bias and gradually head towards 25,200–25,250 levels in the coming sessions being the upper band of the last five weeks consolidation range. Immediate bias remains positive above 24,700-24,800 levels being the confluence of last week low and 20 days EMA."In addition, Bajaj Broking Research suggested that "a decisive breakout above this overhead supply zone may pave the way for a further leg higher towards the 25,500 in the near term."The company also identified "key support at the 24,500–24,400 region — a key confluence area marked by the 50-day EMA and the lower boundary of the recent multi-week range." (Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
New Indian Express
an hour ago
- New Indian Express
Red Lines crossed, a region on the brink
As the smoke clears from the US airstrikes targeting Iranian nuclear facilities, the world stands at a geopolitical crossroads, anxiously anticipating Tehran's response. The strikes—unprecedented in their scope and timing—have triggered a wave of uncertainty across West Asia, the Middle East, and beyond. Analysts are now debating whether Washington's action was a calibrated deterrent designed to placate Israeli pressure and to appease Israel's Prime Minister Benjamin Netanyahu or whether it marked the opening salvo of a broader, more devastating war against Iran that could spiral into full-scale regional conflict? In either case, Iran's next move will likely define the trajectory of a conflict that threatens to redraw alliances, disrupt global energy markets, and upend the fragile balance of power in the Gulf. The United States' entry into the escalating conflict between Israel and Iran marks a pivotal and perilous shift with global implications. What began as a regional confrontation now threatens to spiral into a broader geopolitical crisis, with key trade routes—such as the Strait of Hormuz—hanging in the balance. Washington faces a stark dilemma: pursue escalation and regime change or push for containment through urgent diplomacy. Either path carries heavy costs. West Asia is once again on the brink of a wider regional war. The Gulf States were caught in the crossfire, particularly Saudi Arabia, Kuwait, Iraq, Qatar, and the UAE; the war represents a nightmare scenario. Economically interdependent with both the West and Asian powers and militarily reliant on US security guarantees, they now face missile threats, oil shipment disruptions, and the spectre of domestic unrest. The region's economic model, built on stability and energy exports, is directly at risk.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Stocks to Watch today: Cochin Shipyard, KPIT Tech, HG Infra, Reliance Infra
Stocks to Watch Today, Tuesday, June 24, 2025: Domestic equities are headed for a gap-up start, taking cues from their Asian peers as US President Donald Trump announced a tentative ceasefire between Iran and Israel. The early indicator of Nifty50 performance -- GIFT NIFTY -- was up 219 points or 0.88 per cent at 25,213 as of 7:45 AM. Hours after Iran launched missiles targeting the US air base in Qatar -- which were all intercepted -- Trump said Iran and Israel agreed to a 'complete and total ceasefire.' However, Iranian Foreign Minister Abbas Araghchi said that while there is no ceasefire agreement, Iran had no intention to keep responding to Israeli attacks after 4:00 AM Tehran time. Stocks in Asian edged higher while crude oil prices plunged on Trump's ceasefire claims. Japan's Nikkei was higher by 1.25 per cent, and South Korea's Kospi was up 2.7 per cent. In commodities, Brent crude oil prices fell nearly 5 per cent during the session. Back home, on Monday, the BSE Sensex settled 511.38 points or 0.62 per cent higher at 81,896.79, while the Nifty50 rose 140.50 points or 0.56 per cent to end at 24,971.9. FIIs bought shares worth ₹5,591.77 crore, while DIIs net sold equities worth ₹1,874.38 crore. Track LIVE Stock Market Updates Here Meanwhile, below are some stocks to watch during today's session: Oil marketing companies: Indian oil and gas companies will be in focus on Tuesday, as a decline in crude oil prices will benefit share prices of these firms. Brent crude fell as much as 4.5 per cent during the session to 68.2 per barrel. Cochin Shipyard: Heritage River Journeys signed a construction agreement with Hooghly Cochin Shipyard Limited (Hooghly CSL), a subsidiary of Cochin Shipyard, to build two inland luxury cruise vessels. KPIT Technologies: The company, in its business update, said that the overall business environment continues to be uncertain with rising geopolitical concerns and ambiguity around the overall tariff scenario. HG Infra Engineering: The company emerged as the lowest bidder for a ₹117.77 crore contract from the Military Engineer Services to create an Integrated Material Handling Facility at Mumbai's Naval Dockyard. Enviro Infra Engineers: The company secured new project orders worth ₹306.30 crore in the water and wastewater treatment segment, strengthening its presence as a key EPC player across India. Further, its subsidiary, EIE Renewables, acquired a 49 per cent equity stake in Soltrix Energy Solution. Hindustan Construction: The company announced that its managing director and chief executive, Jaspreet Bhullar, has quit with immediate effect. The company, however, did not disclose the reasons for the resignation. Aditya Birla Lifestyle Brands: The newly-listed firm said it will invest ₹300 crore every year with an aim to double its revenue in the next five years. ABLBL had a revenue of Rs 7,830 crore in FY25, an operating profit margin of 15 per cent and a net profit of ₹60 crore. Reliance Infrastructure: JR Toll Road Private Limited (JRTR), a wholly owned subsidiary of Reliance Infra, has settled the entire outstanding debt obligation of ₹273 crore (including interest) owed to Yes Bank. The company entered into a debt settlement agreement with Yes Bank on Monday (June 23) and has duly paid the entire settlement amount. Godrej Properties: The realty arm of Godrej Industries Group sold 1,450 homes worth ₹2,000 crore at the launch of the first phase of its township project, Barca at the Godrej MSR City, in Devanahalli, Bengaluru. Raymond: Amid rising industrial interest in Andhra Pradesh, Raymond Group plans to invest ₹1,200 crore in the state, focusing on garments, auto components, and aerospace manufacturing, according to reports. EMS: The water and sewerage infra player said it has emerged as the lowest bidder (L1) in two projects worth ₹202.85 crore floated by the UP Jal Nigam (Urban). As of March 31, 2025, the Ghaziabad-based multi-disciplinary EPC company's total order book was at ₹2,236.43 crore. Satin Creditcare Network: The company's board will meet on June 27, 2025, to consider raising up to ₹5,000 crore via non-convertible debentures through private placement, subject to necessary approvals. Metro Brands: Clarks has partnered exclusively with the company for its India comeback, aiming to redefine comfort footwear by blending British craftsmanship with modern Indian consumer preferences and premium retail experiences. Allcargo Logistics: The LCL volume reached 728,000 cubic meters in May 2025, up 3 per cent month-on-month but down 4 per cent year-on-year, with demand likely to remain volatile amid geopolitical tensions. F&O exclusion: Adani Total Gas, CESC, Aditya Birla Fashion, Jindal Stainless, Granules India, IRB Infra, Poonawala Fincorp, and SJVN are the stocks that were removed from the derivatives trading list by the National Stock Exchange.
