The stock markets crashed, rupee value plunged and gold prices declined on Wednesday. In short, It has been a forgettable day at work for India’s traders and investors. We give you a snapshot of all the top news and related to the markets today.
CURRENCY CONCERNS
Rupee hits record low; RBI's hands seen tied
The rupee hit a record low against the dollar on Wednesday as risk aversion in global markets added pressure on a currency already under fire from fiscal and current account deficits that are weighing on growth. Click here to read more
What Pranab Mukherjee told Parliament after Rupee's plunge
CURRENCY CONCERNS
Rupee hits record low; RBI's hands seen tied
The rupee hit a record low against the dollar on Wednesday as risk aversion in global markets added pressure on a currency already under fire from fiscal and current account deficits that are weighing on growth. Click here to read more
What Pranab Mukherjee told Parliament after Rupee's plunge
India will issue some austerity measures to aid the fiscal consolidation process, Finance Minister Pranab Mukherjee said on Wednesday. Click here to read More
What the Reserve Bank of India says
The Reserve Bank of India (RBI) accepts that it is fighting a losing battle in trying to stem a fall in the rupee, a slide that has mirrored the slump in the once high-flying emerging market. Click here to read More…
Expert views on the rupee fall
The Indian currency breached its previous record low of 54.30 set in December. Here are some expert views on the situtation...
OTHER MARKET NEWSSensex hit by global downturn, rupee
The Sensex drops 1.6 percent, while the Nifty is down 1.6 percent amid a downturn in global markets and as the rupee hit a new 5-month low. Here's the market report.
Gold hits 6-week low, attracts physical buyers
Indian gold futures hit their lowest level in six weeks, extending losses for the third straight session on Wednesday. Click here to read why gold's lost its glitter
Oil prices fall as risk appetite declines
Oil prices slid with world shares and the euro on Wednesday as investors fled from riskier assets, while a surprise build in US crude inventories helped send the WTI benchmark to a more than six-month low. More...
FUTURE MARKET OUTLOOK
Sensex likely to drift to 15,000: BofA-Merrill
The Bank of America-Merrill Lynch says expects the Sensex to drift to its 15,000 target given economic growth and current account concerns. It adds business confidence is below the Lehman crisis levels. Click here to read More…
'Oil prices could double by 2022', warns IMF report
A report by the International Monetary Fund (IMF) has warned that oil prices could double over the next decade with sweeping implications for the global economy. The new IMF report comes, as the value of crude on world markets remains at the historically high level of 110 dollars a barrel.Click here to read More…
RBI may target FX futures, some traders say
The Reserve Bank of India's bid to stop the rupee's drop in spot markets has so far failed, and some traders believe the central bank will turn its sight to the futures markets instead. Click here to read More…
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