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☆ INDIA RUPEE Rupee poised to weaken after dollar jump on hawkish Fed
▼ + stars: | 2023-02-17 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 17 (Reuters) - The Indian rupee is expected to open lower against the U.S. currency on Friday, following a surge on the dollar index after two Federal Reserve officials said they preferred bigger rate increases to tackle inflation. Non-deliverable forwards indicated the rupee will open at 82.80-82.85 to the dollar, compared with 82.7175 in the previous session. The dollar index was up at 104.26, while the Korean won tumbled 1%, dragging Asian currencies lower. Futures are now pricing a Fed terminal rate of near 5.30% and about 30 bps of rate cuts from July to December this year. "Hopes of an early Fed pivot have vanished," DBS Group Research said in a note to clients on Friday.

☆ Indian shares set to rise ahead of U.S. inflation data
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 14 (Reuters) - Indian shares are set to open higher on Tuesday, tracking the gains in global equities ahead of U.S. inflation data due later in the day, with a rise in domestic retail inflation in January above the Reserve Bank of India's upper threshold likely capping the move up. Wall Street equities closed higher on Monday, as investors expected consumer price index (CPI) data for January to ease. STOCKS TO WATCH** FSN E-Commerce Ventures (FSNE.NS): Co posts slide in consolidated net profit in Q3 on high expenses. ** Zee Entertainment (ZEE.NS): Co reports fall in consolidated net profit in third quarter on slide in ad spends and rise in costs. ** Steel Authority of India (SAIL.NS): Co reports fall in consolidated net profit in Q3** Power Finance Corporation (PWFC.NS): Co reports rise in consolidated net profit in Q3.

☆ INDIA RUPEE Dollar pullback ahead of U.S. inflation data to lift rupee at open
▼ + stars: | 2023-02-14 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 14 (Reuters) - The Indian rupee was poised to open higher against the U.S. dollar, tracking a broad pullback on the currency in the lead-up to key U.S. inflation data due later on Tuesday. The non-deliverable forward market indicated an opening of around 82.60 for the rupee compared with 82.7175 in the previous session. Intraday position takers were not likely to chase the USD/INR pair lower at open, a spot trader at a Mumbai-based bank said. The overnight risk of the U.S. data and India's surprise on inflation would mean little follow-through after the open, he added. Asian currencies were mostly higher ahead of data that is expected to show that U.S. inflation had eased.

☆ Indian shares set for muted start ahead of inflation data
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares are set for a muted start on Monday, as investors await domestic retail inflation data today as well as U.S. inflation data due later in the week, amid uncertainty over the Adani Group. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 17,856 as of 8:05 a.m. IST. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA RUPEE Fed rate outlook to push rupee lower; U.S. inflation data key this week
▼ + stars: | 2023-02-13 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

On the back of this repricing, the U.S. consumer inflation data due on Tuesday will draw more than the usual scrutiny. Economists polled by Reuters expect both the annual headline and core inflation rate to soften. Unless there is a big surprise in U.S. inflation data, the rupee should hold the 82.40-82.90 range, a trader at a Mumbai-based bank said. Also due later in the day is the India inflation data. The inflation rate is forecast to have risen to 5.9% in January from 5.72% in December.

☆ Alibaba sells remaining stake at India's Paytm as it continues to exit market
▼ + stars: | 2023-02-13 | by ( Laura He | ) edition.cnn.com time to read: +3 min

In January, Alibaba sold about 3% of Paytm for $125 million, cutting its holdings from 6.26%, based on NSE data. ‘India’s Alipay’Founded in 2010, Paytm is India’s largest payment platform, with more than 300 million registered customers and over 20 million merchants. Paytm and Ant Group had been working on “synergies” since Ant made the initial investment, the company said. In early 2021, Alibaba sold a major stake in BigBasket, an online grocery retailer, to Indian conglomerate Tata Group. In May 2022, Alibaba and Ant Group offloaded their entire stake in Paytm Mall, the e-commerce platform of Paytm.

MUMBAI, Feb 9 (Reuters) - The Indian rupee is expected to decline against the U.S. dollar on Thursday, weighed by hawkish comments from Federal Reserve officials and higher oil prices. The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session. Fed officials on Wednesday said more interest rate rises are on the cards in the central bank's efforts to bring down inflation. Moving to a rate of between 5.00% and 5.25% "seems a very reasonable view," New York Fed President John Williams said. Fed fund futures are pricing in rate cuts of about 30 to 35 basis points after peaking at around 5.12% in July.

☆ Rupee eyes RBI policy decision, weighs Powell's comments
▼ + stars: | 2023-02-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 8 (Reuters) - The Indian rupee is likely to open little changed to the U.S. dollar on Wednesday, with traders weighing comments from Federal Reserve Chair Jerome Powell and awaiting the Reserve Bank of India's policy decision. The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee , compared with 82.70 in the previous session. We doubt RBI will have a major impact on the rupee, a trader at a Mumbai based bank said. Some market participants had expected Powell to adopt a more hawkish stance after the jobs report blew past expectations. Powell was "not materially more hawkish" than he was after the recent Fed decision, ING Bank said in a note.

☆ Some Adani shares climb, after group's market losses top $110 bln
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit DaveBENGALURU, Feb 7 (Reuters) - Shares of some listed Adani group companies, including its flagship, rose in early trade on Tuesday while others fell further as the reverberations from a U.S. short-seller's critical report on the Indian conglomerate continued to be felt. Adani group's seven listed companies have lost $110 billion in cumulative stock market value since Hindenburg Research's report was released on Jan. 24. Shares of Adani Green Energy, Adani Total Gas Ltd (ADAG.NS), Adani Power (ADAN.NS) were down 5%, while Adani Transmission rose 3.5%. The group's flagship company, Adani Enterprises Ltd (ADEL.NS), was up 9.5% and Adani Wilmar (ADAW.NS) gained 5%.

MUMBAI, Feb 6 (Reuters) - The Indian rupee was headed lower against the dollar on Monday after a better-than-expected U.S. jobs report prompted investors to bet on more Federal Reserve rate increases. The 1-month non-deliverable forward suggested that the rupee would open at 82.35-82.40 to the dollar compared with 81.8275 in the previous session. "We continue to expect two more 25 basis points fed funds rate hikes in March and May, and we continue to expect no rate cuts in 2023." Goldman Sachs's call for no rate cuts this year compares to CME futures indicating shallow rate cuts later this year. "Oil prices are a big positive for the rupee, but we doubt that will have a large impact," the trader said.

☆ India's NSE lowers price band on two Adani firms
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

Feb 6 (Reuters) - Indian bourse National Stock Exchange of India (NSE) has revised the circuit limits of Adani Green Energy Ltd (ADNA.NS) and Adani Transmission Ltd (ADAI.NS) to 5%, according to data on its website on Monday. The NSE had revised the price bands of both companies to 10% from 20% last week. Stock exchanges set the circuit limits to prevent large movements in the price of stocks in a very short time. Reporting by Anirudh Saligrama in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Adani rout deepens despite soothing words from India's government and billionaires
▼ + stars: | 2023-02-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Indranil Mukherjee | Afp | Getty ImagesShares of most Adani Group companies fell further on Monday, continuing to drop as a feud between the conglomerate and short-seller firm Hindenburg deepened. Adani Green Energy , Adani Power and Adani Total Gas fell 5% each. The Sensex is the benchmark index of the BSE — formerly the Bombay Stock Exchange — and the Nifty 50 is the flagship index of the National Stock Exchange of India. Gautam Adani, chairman of Adani Group, speaks during the Forbes CEO Summit in Singapore, on Tuesday, Sept. 27, 2022. Adani Power is included on the long-term list, while Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Transmission and Adani Total Gas are on the short-term list.

☆ Indian shares set for muted start on rate fears, Adani uncertainty
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Analysts said that the selloff in Adani stocks has created panic in Indian markets. Ratings agency Moody's warned that the tumble in Adani group stocks could hit the conglomerate's ability to raise capital. STOCKS TO WATCHState Bank of India (SBI.NS): India's largest lender reports a rise in net profit in the third quarter. read moreITC (ITC.NS): Co reports a higher-than-expected rise in net profit in December-quarter on strong cigarette sales and steady demand for packaged foods. read moreMarico (MRCO.NS): Co reports higher-than-expected rise in net profit in Q3 on higher demand for cooking products and hair oil.

☆ Indian shares set to rise on easing inflation concerns; Adani stocks in focus
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 3 (Reuters) - Indian shares are set to open higher on Friday, as global central banks hinted at inflation easing, spurring optimism that the rate hike cycle may be near an end, while the ongoing rout in Adani group stock could cap gains. After the U.S. Federal Reserve acknowledged in its monetary policy decision on Wednesday that the disinflationary process may have begun, the European Central Bank and the Bank of England followed suit on Thursday. Analysts said that the selloff in Adani stocks has created panic in Indian markets. Foreign institutional investors sold 30.64 bln rupees ($373.23 million) worth of shares on a net basis on Thursday while domestic institutional investors purchased 23.71 bln rupees worth of shares, official data showed. ($1 = 82.0940 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to fall after Adani group calls off $2.5 bln share sale
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 2 (Reuters) - Indian shares are set to open lower on Thursday after a sustained selloff in Adani group stocks as the group cancelled the secondary share sale of its flagship company Adani Enterprises. India's market regulator is said to be examining the crash in the Adani group company shares and looking into possible irregularities in Adani Enterprises' secondary share sale. Indian markets closed lower on Wednesday, hit by Adani group stocks and a fall in insurance companies after the union budget proposed to limit tax exemptions for insurance proceeds. STOCKS TO WATCHBritannia Industries (BRIT.NS): Co posts rise in consolidated net profit in the third quarter on price hikes, sustained demand. Alembic Pharma (ALEM.NS): Co reports consolidated net profit that beat estimates in Q3, on higher domestic sales.

☆ India's NSE puts trades in some Adani firms under additional watch
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

The NSE also placed Monarch Networth Capital (MONR.NS), one of the 10 underwriters of Adani Enterprises' (ADEL.NS) botched share sale, under additional surveillance. The Ahmedabad-based brokerage was responsible for "non institutional marketing", according to the Adani share sale document. Last year, Adani Group acquired Ambuja Cements Ltd (ABUJ.NS) and ACC (ACC.NS) from Holcim AG (HOLN.S) to enter the business. Adani Enterprises tumbled 27%, closing at their lowest level since March 2022. Adani Group did not immediately respond to a request for comment on the exchange's latest decision.

☆ Indian shares set to rise, with Adani Group, budget, Fed on watch
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

Indian snapped a losing streak on Monday as key Adani Group stocks arrested their two-session tumble since U.S-based short-seller Hindenburg Research, last week, flagged concerns about the groups' debt levels and the use of tax havens, charges the conglomerate has denied. Traders will also watch the budget for any incentives to entice foreign investors, who have piled out of the market, especially since the report on Adani Group. Foreign institutional investors have sold 151.65 billion rupees ($1.86 billion) worth of shares on a net basis in the past three sessions. STOCKS TO WATCH** Larsen & Toubro (LART.NS): The company reported a lower-than-expected rise in consolidated net profit in third quarter on moderate order growth. ** Bharat Petroleum (BPCL.NS): The company posted a slide in quarterly net profit on stagnant retail prices.

☆ Indian shares set to rise after a rout set off by Adani stocks
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

Besides the Fed's policy meeting, investors await rate decisions from other global central banks such as the European Central Bank and the Bank of England, later this week. STOCKS TO WATCH** Bajaj Finance (BJFN.NS): Co posts bigger-than-expected rise in consolidated net profit in third quarter, aided by a fall in provisions for bad loans. read more** Vedanta (VDAN.NS): Co reports slide in consolidated net profit in Q3, dragged by soft metal prices. read more** Tata Elxsi : Co reports arise in consolidated net profit in third quarter. ($1 = 81.5100 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to open higher; key earnings to provide direction
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 23 (Reuters) - Indian stocks were poised to open higher on Monday, tracking a Wall Street rally in the previous session, with shares also taking cues from the earnings of heavyweights such as Reliance. Financial stocks (.NIFTYFIN) could gain after robust quarterly earnings results from top banks over the weekend. Wall Street equities rallied to close higher on Friday, as upbeat quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts. ** India's top cement maker, UltraTech Cement (ULTC.NS), reported a 38% decrease in quarterly profit on Saturday, dented by a surge in expenses. ** Yes Bank (YESB.NS) reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

☆ INDIA RUPEE Rupee seen lower as growth fears hit risk sentiment
▼ + stars: | 2023-01-19 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 19 (Reuters) - The Indian rupee is likely to weaken at open against the U.S. dollar on Thursday as mounting global growth concerns prompted investors to exit risk assets. The rupee is tipped at around 81.45 to the dollar in early trading against the dollar, compared with the 81.24 close in the previous session. The S&P 500 index fell the most in over a month overnight as weak U.S. retail sales data fuelled worries on the growth front. Retail sales fell more than expected in December, putting consumer spending and the overall economy on a weaker growth path heading into 2023. Further, the decline in retail sales in November was revised to show an even weaker reading.

☆ INDIA RUPEE Rupee likely to inch up on upbeat Asian cues
▼ + stars: | 2023-01-16 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Jan 16 (Reuters) - The Indian rupee may open marginally higher against the U.S. dollar on Monday, supported by a further uptick in Asian currencies after last week's rally. The rupee was likely to open at 81.25 per dollar compared with 81.3250 in the previous session. However, it was fairly obvious that rupee will not be repeating the kind of rally it saw last week, he said. Portfolio outflows and likely decent support (for USD/INR pair) at 81 should keep rupee in check, he added. Foreign portfolio investors have taken out $1.8 billion from Indian equities so for this month and $116 million from debt.

☆ Indian shares set to open higher; inflation slows
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 13 (Reuters) - Indian shares are set to open higher on Friday after data showed domestic and U.S. inflation eased last month, boosting expectations that central banks could slow the pace of interest rate hikes. In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8% at a seven-month high. STOCKS TO WATCH** Wipro Ltd (WIPR.NS): Co set to report quarterly results later in the day. ** Infosys (INFY.NS): Co raises annual revenue outlook after reporting better-than-expected quarterly profit in third quarter. ($1 = 81.1100 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru;Our Standards: The Thomson Reuters Trust Principles.

MUMBAI, Jan 11 (Reuters) - The Indian rupee may open slightly higher against the dollar on Wednesday, building on the previous day's momentum when it managed to move above important resistance levels, traders said. The rupee is tipped to open at around 81.66-81.70 compared with 81.7850 in the previous session. Yesterday, the rupee managed to scale multiple resistance levels that were there between 81.80 to 82.20, surprising most market participants, a spot trader at a foreign bank said. The rupee will simply be carrying yesterday's momentum at open, he added. Anil Bhansali, head treasury at Finrex Treasury Advisors, reckoned that after Tuesday's move, the new support levels for USD/INR are at 81.70 and 81.40.

☆ Indian shares seen opening flat; Powell's speech, earnings eyed
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 10 (Reuters) - Indian shares were set for a muted opening on Tuesday, tracking global moves as investors weighed expectations of less aggressive Fed rate hikes against inflation and corporate earnings performance. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 18,150.50, as of 7:42 a.m. IST on Tuesday. Domestic investors bought 17.24 billion rupees worth of shares, as per provisional NSE data. STOCKS TO WATCH** TCS (TCS.NS): Co's third quarter net profit missed estimates, flags challenges in Europe as clients tighten spending. ($1 = 82.1700 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA RUPEE Rupee may firm on smaller Fed rate hike bets; dollar hits 7-month low
▼ + stars: | 2023-01-10 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

The dollar index dropped below 103 overnight to its lowest level since June, extending its U.S. jobs data-prompted slide. ING Bank said in a note that after the U.S. jobs data, Fed futures have reverted to pricing in a peak rate of less than 5%. The focus now shifts to Fed Chair Jerome Powell's speech later in the day and to the critical U.S. inflation on Thursday. Fed policymakers said on Monday the inflation data will help them decide whether they can slow the pace of interest rate hikes at their upcoming meeting to 25 basis points. Overnight, U.S. shares slipped overnight, unable to sustain an earlier rally.

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