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The Hindu
04-07-2025
- Business
- The Hindu
Rupee rises 16 paise to close at 85.39 against U.S. dollar
The rupee appreciated 16 paise to close at 85.39 (provisional) against the U.S. dollar on Friday (July 4, 2025), tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the U.S. U.S. President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened at 85.44 against the American currency and touched an intra-day high of 85.30 and a low of 85.50 during the session. The local unit finally settled at 85.39 (provisional), 16 paise higher than its previous closing price. On Thursday (July 3, 2025), the rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. 'We expect the rupee to gain on the falling U.S. dollar and the weak tone in crude oil. However, uncertainty over trade tariffs may cap sharp gains,' Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.24% to 96.94. Brent crude, the global oil benchmark, fell by 1.18% to $67.99 per barrel in futures trade. The USD-INR spot price is expected to trade in a range of 85.10 to 85.70, Mr. Choudhary said. Meanwhile, in the domestic equity market, the Sensex advanced 193.42 points, or 0.23%, to close at 83,432.89, while Nifty rose 55.70 points, or 0.22%, to 25,461.00. Foreign institutional investors (FIIs) offloaded equities worth ₹1,481.19 crore on a net basis on Thursday (July 3, 2025), according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June, aided by robust expansion in international sales and job creation amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday (July 3, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders.
Mint
04-07-2025
- Business
- Mint
Rupee rises 16 paise to close at 85.39 against US dollar
Mumbai, The rupee appreciated 16 paise to close at 85.39 against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened at 85.44 against the American currency and touched an intra-day high of 85.30 and a low of 85.50 during the session. The local unit finally settled at 85.39 , 16 paise higher than its previous closing price. On Thursday, the rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. "We expect the rupee to gain on falling US dollar and weak tone in crude oil. However, uncertainty over trade tariffs may cap sharp gains," Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.24 per cent to 96.94. Brent crude, the global oil benchmark, fell by 1.18 per cent to USD 67.99 per barrel in futures trade. According to Choudhary, USDINR spot price is expected to trade in a range of 85.10 to 85.70, Choudhary said. Meanwhile, in the domestic equity market, the Sensex advanced 193.42 points, or 0.23 per cent, to close at 83,432.89, while Nifty rose 55.70 points, or 0.22 per cent, to 25,461.00. Foreign institutional investors offloaded equities worth ₹ 1,481.19 crore on a net basis on Thursday, according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders. This article was generated from an automated news agency feed without modifications to text.
The Hindu
04-07-2025
- Business
- The Hindu
Rupee rises 21 paise to 85.34 against U.S. dollar in early trade
The rupee appreciated 21 paise to 85.34 against the U.S. dollar in early trade on Friday (July 4, 2025) as Asian currencies, including the rupee gained ground on renewed hopes of trade deals with the US. Forex traders said, U.S. President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline. The optimism spilled over into broader Asian forex sentiment, giving the rupee some fresh momentum. At the interbank foreign exchange, the domestic unit opened at 85.44 against the greenback. In initial trade, it witnessed a high of 85.34, registering a rise of 21 paise over its previous close. On Thursday, The rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. "With the July 9 tariff deadline drawing near and President Trump's "One Big Beautiful Bill" looming in the background, markets are on edge. The rupee is expected to find solid support near 85.20 and trade in a broad range, with resistance likely around 86.20–86.40," CR Forex Advisors MD - Amit Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.20% to 96.98. Brent crude, the global oil benchmark, fell 0.38% to $68.54 per barrel in futures trade. "Brent crude has started inching higher once again, currently hovering around $68.20 per barrel. For India, a net oil importer, rising crude prices pose a near-term threat to the trade and current account balances," Pabari added. Meanwhile, in the domestic equity market, the Sensex declined 25.10 points or 0.03% to 83,214.37, while Nifty fell 7.70 points or 0.03% to 25,396.50. Foreign institutional investors (FIIs) offloaded equities worth ₹1,481.19 crore on a net basis on Thursday (July 3, 2025), according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders.
Time of India
04-07-2025
- Business
- Time of India
Services activity at 10-mth high as new orders surge
NEW DELHI: Activity in the country's service sector rose to a 10-month high in June as new orders increased and overseas demand strengthened, leading to job creation in the sector, a survey showed on Thursday. The HSBC India Services PMI business activity index, based on a single question asking how the level of business activity compares with the situation in the month before, rose from 58.8 in May to 60.4 in June. Companies linked the upturn to positive demand trends and ongoing improvements in sales. The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to questionnaires sent to 400 service sector companies. Overseas demand particularly improved from the Asian, West Asian and US markets, according to survey participants. "New export orders also expanded, albeit at a softer pace. Margins improved as the rise in input costs was below that seen for output charges. Service providers remained optimistic about future growth, though their confidence faded a tad," said Pranjul Bhandari, chief India economist at HSBC. Data indicated that expansions in output and new orders remained broad-based during June. Finance and insurance topped the growth rankings. For both measures, the slowest expansions were in real estate and business services. The survey showed that ongoing expansion of service sector had a positive impact on jobs. Employment rose for 37th consecutive month in June, with the rate of job growth outpacing its long-run average, despite slowing from May's record. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
03-07-2025
- Business
- Business Standard
Barometers pare all gains; Nifty slides below 25,450
The headline equity benchmarks erased all early gains and traded with slight losses in mid-afternoon trade, as investors remained cautious ahead of the anticipated India-US trade deal. The Nifty slipped below the 25,450 mark. Media shares advanced after declining in past two consecutive trading sessions. At 14:30 IST, the barometer index, the S&P BSE Sensex shed 13.16 points or 0.02% to 83,394.76. The Nifty 50 index lost 29.10 points or 0.12% to 25,424.30. In the broader market, the S&P BSE Mid-Cap index shed 0.01% and the S&P BSE Small-Cap index jumped 0.45%. The market breadth was positive. On the BSE, 2,023 shares rose and 1,914 shares fell. A total of 179 shares were unchanged. Economy: The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 60.4 in June 2025 against 58.8 in May 2025. Monitored companies linked the upturn to positive demand trends and ongoing improvements in sales. Indian service providers ended the first fiscal quarter on strong footing. Output and new order intakes rose at the fastest rates since August 2024, aided by another robust expansion in international sales and job creation. New orders expanded at the quickest rate since August 2024. Services companies benefited most from the continued strength of the domestic market, alongside a marked increase in new export business. The HSBC India Composite PMI Output Index rose from 59.3 in May to 61.0, indicating the fastest rate of expansion in 14 months. Growth quickened at both manufacturers and service providers. India-US trade deal update: As per media reports, India and the United States will likely finalise a mini trade deal within the next 48 hours, with negotiations underway in Washington, DC. India and the US are actively engaged in trade negotiations as the July 9 deadline looms. If a deal is not reached by then, Indian exports to the US could face a total tariff of 36% (10% baseline tariffs plus 26% reciprocal tariffs). Trump has indicated that the deadline may not be extended. Buzzing Index: The Nifty Media index rose 0.93% to 1,741.20. The index fell 1.67% in two consecutive trading sessions. Nazara Technologies (up 2.57%), PVR Inox (up 1.59%), Saregama India (up 1.34%), Zee Entertainment Enterprises (up 1.01%), Network 18 Media & Investments (up 0.67%), Dish TV India (up 0.20%) and Hathway Cable & Datacom (up 0.06%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper added 0.02% to 6.289 from the previous close of 6.288. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.3250 compared with its close of 85.6200 during the previous trading session. MCX Gold futures for 5 August 2025 settlement shed 0.04% to Rs 97,325. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 96.44. The United States 10-year bond yield lost 0.84% to 4.254. In the commodities market, Brent crude for September 2025 settlement fell 61 cents or 0.88% to $68.50 a barrel.
