Rupee Vs Dollar Today: Rupee settled flat against the dollar for the second straight session
After registering marginal gains in early trade, the rupee settled flat against the US dollar on Thursday, February 4, at 72.96 (provisional) for the second consecutive day, even as the domestic equity markets scaled fresh highs. At the interbank foreign exchange market, the domestic unit opened at 72.92 against the dollar and registered an intra-day high of 72.90. It witnessed a low of 72.96. In an early trade session, the local unit rose marginally by six paise to 72.90 against the greenback. The rupee ended at 72.96 against the American currency, unchanged from its previous close.
NEW DELHI: The bulls continued to build long positions, as Nifty on Tuesday tested the all-time high the index had recorded last month and in the process formed another big bullish candle. Analysts believe the 14,750 level will now be crucial in deciding which way the index moves.
The 50-pack witnessed continuation of the positive momentum and opened with a significant gap on the upside. It went on to test the all-time high of 14,753, but closed at 14,647, registering a gain of 366.65 points.
“Once the high gets taken out, the index can head towards 15,000 level in the short term. On the downside, the gap area between 14,469 and 14,336 levels will act as a crucial support zone. The 20-DMA is also near the gap area, which will offer additional support, said Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.
After The Bell: Sensex reclaims 50,000, what should investors do on Wednesday?
Traders & investors need to keep the last stop loss at 14100/48400. We need to be defensive as the market approaches previous highs and the focus should be on pharmaceuticals and FMCG stocks. February 02, 2021 / 05:23 PM IST
Bulls remained in control of D-Street for the second consecutive day in a row on February 2 pushing the S&P BSE Sensex above 50,000 while the Nifty50 also reclaimed 14700. Both indices witnessed profit-taking towards the close of the trade.
The S&P BSE Sensex rose 1197 points to 49,797 while the Nifty50 closed with gains of 366 points to 14,647. The NiftyBank hit a fresh record high of 34,652.
After The Bell: Investors wealth rises by over Rs 6 lakh crore, what should investors do after huge Budget Day rally?
Experts are of the view that the market entered the Budget day with caution but a pro-growth Budget and no new taxes fuelled a risk-on rally. February 01, 2021 / 05:42 PM IST
Finance Minister Nirmala Sitharaman delivered what she promised a Budget like never before . The Street responded with equal enthusiasm as the bulls pushed the S&P BSE Sensex higher by over 2,300 points, Nifty50 above 14,200 levels, and NiftyBank to a record high.
The market recorded the best Budget Day percentage gains in 2 decades.
Nearly Rs 10 lakh crore gone ahead of Budget: what should be your investment strategy?
The trading strategy on the Budget Day should be to pick stocks from their support levels and keep an eye on reversal patterns instead of picking stocks which are trading in a range or are at higher levels. January 29, 2021 / 01:06 PM IST
Five days of the selloff on D-Street pushed Sensex and Nifty50 below crucial support levels. The S&P BSE Sensex plunged more than 3000 points since January 20 while Nifty50 is down by about 1000 points in the same period.
The average market capitalisation of the BSE-listed companies fell by about Rs 10 lakh cr in just five sessions. The market capitalisation of the BSE-listed companies fell from Rs 197.70 lakh cr to Rs 188.13 lakh cr as of January 28, 2021.