
Volatility in market & volatility of bottom line are different: 6 mid-cap stocks from different sectors with an upside potential of up to 33%
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Economic Times
17 minutes ago
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Tariff worries trigger rupee's steepest fall in nearly three months
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Indian rupee posted its steepest one-day drop since May and hit a five-month low on Wednesday, hurt by worries over steep U.S. tariffs on Indian exports alongside dollar demand from foreign banks and rupee hit a low of 87.5125 against the U.S. dollar before closing at 87.42, down 0.7% on the said that while the Reserve Bank of India likely stepped in to support the local currency, the intervention was not very aggressive.A 20%-25% tariff may be imposed on India's exports in the absence of a trade deal and as the Asian country holds off on offering fresh concessions ahead of Friday's deadline, Reuters reported on Tuesday.U.S. President Donald Trump said on Tuesday that a trade deal with India had not been finalised and higher tariffs were tariff threats, the psychological impact of the rupee breaching the 87 mark, and urgency among importers to hedge before the August 1 deadline has weighed on the rupee, said Dilip Parmar, a foreign exchange analyst at HDFC conditions remain the same, the rupee could fall below 88 in the coming weeks, Parmar said. The local unit had hit an all-time low of 87.95 in addition to trade uncertainty, persistent foreign portfolio outflows have also been a pain point for the rupee. Overseas investors have net sold over $1.5 billion of local stocks in among importers and the absence of inflows have kept the currency under pressure and that may persist in the near-term, a trader at a foreign bank Asian currencies were trading mixed and the dollar index was little changed at 98.8 as investors await the Federal Reserve's policy decision later in the Fed is widely expected to keep rates unchanged, with the focus on commentary from Chair Jerome Powell and whether the decision is unanimous.

Business Standard
17 minutes ago
- Business Standard
Rupee hits five-month low on US tariff warning, oil spike; ends at 87.42/$
The Indian Rupee weakened to its lowest level in over five months on Wednesday as sentiment soured following higher-than-expected tariff remarks by the US President and a surge in oil prices. The domestic currency closed 60 paise lower at 87.42 against the dollar on Wednesday, the lowest level since February 28 this year, according to Bloomberg. The local unit has depreciated 1.9 per cent so far this month and 2.12 per cent in this calendar year so far. This is so far the worst monthly fall since September 2022, when it fell 2.32 per cent. The weakness in currency came after Trump's statement that India may face a tariff rate of 20 to 25 per cent. He, however, cautioned that the final levy still was not finalised. India is racing to finalise a trade deal with the US as the 1 August deadline approaches. Officials from both countries are engaged in continuous negotiations, although major disagreements remain unresolved. Rupee traded weak, breaching the 87.40 mark as rising crude prices and a stronger dollar index weighed on sentiment, according to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. Market participants remain cautious ahead of the US Federal Reserve's policy announcement tonight, with additional key US data lined up this week likely to keep volatility elevated, he said. "The rupee is expected to trade within a broader range of 87.00-87.70." Adding to the downward pressure are persistent foreign portfolio investor (FPI) outflows from Indian equities, with capital being redirected toward developed markets that are currently trading at record highs, analysts noted. FPIs have sold Indian equities for the seventh straight session in the secondary market, according to data from NSE. On Tuesday, FPIs offloaded stocks worth ₹4,636.60 crore. In the last seven sessions, global funds have sold stocks worth ₹24271.98 crore. The dollar index is poised for the best month this year, with the measure of the greenback against a basket of six major currencies, down 0.05 per cent at 98.83.