See the full story in the original article.
Read the original on moneycontrol.com ↗
Related news
- Rupee hits six-week high, surges 53 paise to 94.38 against dollar on Jio IPO inflows, RBI support
The rupee rose 53 paise to close at 94.38 against the US dollar on Wednesday, its strongest level in six weeks, as foreign currency inflows tied to Reliance Industries' Jio Platforms IPO and RBI intervention offset weak domestic equities and elevated crude oil prices. The Rs 30,213-crore IPO was fully subscribed within 100 minutes of opening and reached 3.16 times subscription overall, with qualified institutional buyers subscribing 9.42 times their reserved portion. Analysts noted that foreign investors typically sell dollars to buy rupees when joining large IPOs, which increases dollar supply, while the RBI acted to curb spot-market dollar demand from oil companies and excessive volatility.
- Rupee gains 20 paise against US dollar as RBI support kicks in , greenback weakens
The rupee opened Friday 20 paise higher at 94.79 per US dollar, extending Thursday's 18-paise gain, as the dollar weakened and the Reserve Bank of India's structural forex interventions provided support. Gains were limited by elevated crude prices, with Brent trading at $105.35 a barrel, and a negative start on Dalal Street, though the Sensex later turned positive and gained 400 points. The dollar index fell 0.54% to 102 and US Treasury yields eased. Foreign institutional investors were net sellers of domestic equities worth Rs 5,285.37 crore on Thursday.
- Rupee rises to 94 . 80 against US dollar , but crude oil threatens recovery
The rupee gained 9 paise to 94.80 against the dollar in early trade, extending its recovery to a third straight session after closing at 94.89 on Friday. Traders said it was the sharpest rally in seven months, but high crude prices, rising U.S. Treasury yields and steady foreign outflows have kept pressure on, prompting the RBI to step up interventions. Brent fell 1.88% to $107.79 per barrel after surging to $110, amid attacks on vessels near the Strait of Hormuz and threats to Saudi energy infrastructure. The Sensex dropped 470.50 points to 74,318, while foreign institutional investors bought a net Rs 1,165.92 crore of equities on Friday. India's forex reserves fell $8.578 billion to $726.027 billion in the week ended October 9, after a $12.952 billion decline the previous week.
- Rupee gains 29 paise against dollar in early trade , but crude prices limit gains
The rupee rose nearly 0.5% against the US dollar early on Wednesday to 94.62, a 29-paise gain and a six-week high, helped by foreign currency inflows tied to the Jio IPO, gains at Dalal Street and RBI support. Rising crude prices and a firm dollar limited the gains, with Brent crude up 1.42% to $110.33 per barrel and the dollar index up 0.06% to 101.58. Equities opened higher, with the BSE Sensex up 800 points and the NSE Nifty50 above 23,100, though FIIs were net sellers of Rs 1,148.64 crore on Monday. An analyst expects the rupee to trade within 94.00 to 94.75 against the dollar during the session.
- Lumpy Jio IPO inflows push rupee into overbought zone just as oil renews rise
The Indian rupee edged up to 94.35 per dollar on Thursday from 94.46, entering an 'overbought' zone on technical measures, as strong foreign inflows for the $3.2 billion Jio Platforms IPO offset higher oil prices. Brent rose nearly 2% to $110.6 per barrel on Middle East hostilities concerns after the US ordered some diplomats to leave Saudi Arabia. The pair's 14-day RSI climbed to nearly 74, from about 27 on 9 October. Markets expect the Reserve Bank of India to hike rates further after its first increase in nearly four years earlier this month; October policy minutes signalled more tightening but caution over growth risks. Goldman Sachs said the minutes were more hawkish than the Governor's statement and expects a 25bp hike in December 2026, followed by 50bp more in 1H CY27.
- Rupee Drops 44 Paise to 94 . 82 Against US Dollar Amid Surging Crude Prices
The rupee fell 44 paise to close at 94.82 per US dollar on Thursday (provisional), weighed by weak domestic equities and surging crude oil after Yemeni Houthi attacks on Saudi Arabia's energy infrastructure. Brent crude rose 3.23% to $112.33 per barrel in futures trade, while the Sensex dropped 460.30 points to 73,249.39 and the Nifty fell 123.70 points to 22,687.65. Foreign Institutional Investors bought a net Rs 1,022.32 crore on Wednesday. The Jio Platforms IPO was fully subscribed in its retail portion within two hours of the second bidding day and reached 3.47 times overall by 11:00 am. Analysts said near-term dollar liquidity has improved after the Jio IPO, but the rupee's stability remains vulnerable to renewed foreign portfolio outflows or a spike in crude toward USD 120.
Related markets
Latest news
- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.