You are here: Home » PTI Stories » National » News
Business Standard

Sensex below 28k, drops 388 points for the week

Press Trust of India  |  Mumbai 

Stocks: The curtailed trading week saw the falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader going below the key 8,600-level.

The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, and and keenly watched corporate results, while the key indices started positive and traded choppy later part of week.



The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week.

The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data.

However, easing September 4.31 per cent and 3.57 along with mixed start of quarterly somehow failed to cheer the investors sentiment due to weak revenue guidance outlook from IT bellwether Infosys, however, the index did consolidate with minor gains during weekend trade despite incurring weekly losses.

The BSE benchmark resumed higher at 28,144.28 and hovered between 28,216.64 and 27,548.18 before ending the week at 27,673.60, showing a loss of 387.54 points or 1.38 per cent.

The NSE also dropped by 114.20 points or 1.31 per cent to end the week at 8,583.40.

Selling was led by Realty, Bankex, Power, Auto, Metal, FMCG followed by secondline shares of midcap and smallcap companies.

Buying interest was witnessed in Oil&Gas, IT, Power and Capital Goods sectors.
Meanwhile, foreign portfolio investors (FPIs) and foreign

institutional investors (FIIs) sold shares worth Rs 2,276.52 crore during the week, as per Sebi's record including the provisional figure of October 14.

In the broader market, the BSE mid-cap index lost 123 points or 0.91 per cent to settle at 13,419.62. The BSE small-cap index fell 45.64 points or 0.35 per cent to settle at 13,176.76. The fall in both these indices were lower than the Sensex's decline in percentage terms.

Among the S&P, BSE sector and industry indices, realty fell by 2.59 per cent, followed by bankex 1.97 per cent, power 1.33 per cent, auto 1.29 per cent, metal 0.97 per cent, FMCG 0.92 per cent, healthcare 0.52 per cent and tech 0.36 per cent.

However, oil and gas rose by 0.80 per cent followed by IT 0.72 per cent, capital goods 0.36 per cent and consumer durables 0.03 per cent.

Among the 30-share pack, 20 stocks fell and remaining 10 stocks rose during the week.

HDFC lost 6.15 per cent. The company announced that pursuant to the approval of the board of directors of the company at its meetings held previously, the company is contemplating, subject to market conditions, undertaking the fourth issuance of rupee denominated bonds to overseas investors. It was followed by Adani Ports 4.72 percent, Bharti Airtel 4.30 per cent, HUL 4.14 per cent, ICICI Bank 3.49 per cent, Reliance 2.86 per cent, Bajaj Auto 2.61 per cent, SBI 2.46 per cent and Axis Bank 2.38 per cent.

GAIL (India) rose 3.90 per cent. GAIL (India) on Monday, announced it has received intimation from the Ministry of Petroleum and Natural Gas that the Cabinet Committee on Economic Affairs (CCEA) approved 40 per cent capital grant (limited to Rs 5,176 crore) of the estimated capital cost of Rs 12,940 crore to GAIL (India) for execution of Jagdishpur-Haldia/Bokaro-Dhamra gas pipeline (JHBDPL) project by 2020. It was followed by ONGC 3.31 per cent, Cipla 2.96 per cent, Asian Paints 1.88 per cent and Infosys 1.46 per cent.

The total turnover during the week on BSE and NSE declined to Rs 9,870.75 crore and Rs 59,232.39 crore, respectively, as against last weekend's level of Rs 19,026.44 crore and Rs 1,05,459.39 crore.
Bullion: Gold continued its losing streak for the third

straight week at the domestic bullion market on the back of subdued demand from stockists and investors mainly on the turnaround in international markets.

The truncated week saw the market witnessing a narrow-range trade throughout the week amid lack of local buying interest despite festive season, while unwinding of long positions by speculative traders also added downward pressure on gold.

However, silver rebounded from its last two week fall, due to speculative lower-level buying and higher industrial demand.

The bullion market remained closed on Tuesday and Wednesday for 'Dussehra' and 'Muharram', respectively.

In worldwide trade, gold futures settled lower as the dollar climbed on the back of upbeat US retail sales data, but scored their first weekly gain in three weeks.

Futures had posted decline in each of the last two weeks, with last week's around 5 per cent drop being the largest of its kind in more than three years.

The US retail sales rebounded 0.6 per cent in September while producer prices also rose broadly to record their biggest year-on-year increase since December 2014.

Gold futures ended the week about 0.3 per cent higher, while silver held on to a nearly 0.4 per cent gain in the week.
In New York Comex trade, gold for December delivery rose

to finish at USD 1,255.50 an ounce as compared to last weekend's close of USD 1,251.90 and silver for December also climbed to settle at USD 17.441 an ounce from USD 17.38.

On the domestic front, standard gold (99.5 purity) commenced higher at Rs 29,900 per 10 gram as compared to last Friday's close of Rs 29,845, later it gained to Rs 29,960 before drifting back to close at Rs 29,750, revealing a loss of Rs 95 per 10 gram, or 0.32 per cent.

Similarly, pure gold (99.9 purity) also resumed on a positive note at Rs 30,050 per 10 gram as against last weekend's level of Rs 29,995, later moved-up to Rs 30,110 before ending at Rs 29,900, showing a fall of Rs 95 per 10 gram or 0.32 per cent.

Silver ready (.999 fineness) opened higher at Rs 42,925 per kilo from its last weekend's level of Rs 42,385 and rose to Rs 43,080 before finishing at Rs 42,680, registering a rise of Rs 295 per kilo, or 0.70 per cent.
Oils and Oilseeds: Groundnut oil slumps, while refined

palmoil rebounds, non-edible continues its downtrend and linseed oil maintain steady trend at the Vashi oils and oilseeds wholesale market during the truncated week under review.

Groundnut oil prices tumbled on subdued demand from stockists and retailers on the back of heavy arrivals from producing region.

While, refined palmolein recovered following fresh demand from retailers.

Linseed oil continued its stable position due to lack of demand from paint and allied industries.

Meanwhile, castorseeds bold and castoroil commercial fell further owing to reduced demand from shippers and soap industries, extending its fall for the third straight week.

The oils and oilseeds market remained closed on 11th October and 12th October for 'Dussehra' and 'Muharram', respectively.

In the edible oil segment, groundnut oil opened lower at Rs 1,280 and later drifted to close at Rs 1,100 from its previous weekend's level of Rs 1,290 per 10 kg, showing a sharp fall of Rs 190.

Refined palmolein resumed lower at Rs 572 and later rose to conclude at Rs 584 from last weekend's level of Rs 574 per 10 kg, showing a smart gain of Rs 10 per 10 kg.

Among the non-edibles, castorseeds bold opened steady at Rs 3,750 and later ended lower at Rs 3,720 as against last Saturday's level of Rs 3,750, showing a loss of Rs 30 per 100 kg.

Castoroil commercial also opened stable at Rs 780 and later finished lower at Rs 774 from preceding weekend's level of Rs 780, registered a marginal loss of Rs 6 per 10 kg.

However, linseed oil opened and closed at previous weekend's level of Rs 1,050 per 10 kg.
Forex: The rupee ended marginally lower against the US

dollar for the second straight week in a relatively tepid trading due to stray demand for the greenback amid looming concerns about a Fed rate hike.

After rebounding from a three-week low, the home currency settled with a mere three paise loss at 66.71 during the week.

Much of the focus in the forex markets was on the outlook for US monetary policy as the minutes of the Federal Reserve's September policy meeting showed the Federal Reserve is edging ever closer to carry out a rate hike this year.

A massive sell-off in financial and currency markets worldwide largely weighed on trade.

Resurgent dollar overseas alongside fresh capital outflows also added to the already heightened woes for rupee, a forex dealer commented.

The domestic unit started the week on a firm footing at 66.58 as against last Friday's closing value of 66.68 at the Inter-bank Foreign Exchange (Forex) market and gained further ground to hit a high of 66.53 on initial dollar selling by banks and corporates.

However, reacting vehemently to the Fed minutes outcome, the local unit plunged sharply to retrace its three-week low of 66.96 on Thursday before recouping most of its losses towards the tail-end trade to supported by easing inflationary pressure.

It finally settled at 66.71, showing a small loss of three paise, or 0.04 per cent.

The Forex market remained closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.

RECOMMENDED FOR YOU

Sensex below 28k, drops 388 points for the week

Stocks: The curtailed trading week saw the Sensex falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader Nifty going below the key 8,600-level. The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, CPI and WPI and keenly watched corporate results, while the key indices started positive and traded choppy later part of week. The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week. The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data. However, easing September 4.31 per cent CPI and 3.57 WPI inflation along with mixed start of quarterly ... Stocks: The curtailed trading week saw the falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader going below the key 8,600-level.

The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, and and keenly watched corporate results, while the key indices started positive and traded choppy later part of week.

The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week.

The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data.

However, easing September 4.31 per cent and 3.57 along with mixed start of quarterly somehow failed to cheer the investors sentiment due to weak revenue guidance outlook from IT bellwether Infosys, however, the index did consolidate with minor gains during weekend trade despite incurring weekly losses.

The BSE benchmark resumed higher at 28,144.28 and hovered between 28,216.64 and 27,548.18 before ending the week at 27,673.60, showing a loss of 387.54 points or 1.38 per cent.

The NSE also dropped by 114.20 points or 1.31 per cent to end the week at 8,583.40.

Selling was led by Realty, Bankex, Power, Auto, Metal, FMCG followed by secondline shares of midcap and smallcap companies.

Buying interest was witnessed in Oil&Gas, IT, Power and Capital Goods sectors.
Meanwhile, foreign portfolio investors (FPIs) and foreign

institutional investors (FIIs) sold shares worth Rs 2,276.52 crore during the week, as per Sebi's record including the provisional figure of October 14.

In the broader market, the BSE mid-cap index lost 123 points or 0.91 per cent to settle at 13,419.62. The BSE small-cap index fell 45.64 points or 0.35 per cent to settle at 13,176.76. The fall in both these indices were lower than the Sensex's decline in percentage terms.

Among the S&P, BSE sector and industry indices, realty fell by 2.59 per cent, followed by bankex 1.97 per cent, power 1.33 per cent, auto 1.29 per cent, metal 0.97 per cent, FMCG 0.92 per cent, healthcare 0.52 per cent and tech 0.36 per cent.

However, oil and gas rose by 0.80 per cent followed by IT 0.72 per cent, capital goods 0.36 per cent and consumer durables 0.03 per cent.

Among the 30-share pack, 20 stocks fell and remaining 10 stocks rose during the week.

HDFC lost 6.15 per cent. The company announced that pursuant to the approval of the board of directors of the company at its meetings held previously, the company is contemplating, subject to market conditions, undertaking the fourth issuance of rupee denominated bonds to overseas investors. It was followed by Adani Ports 4.72 percent, Bharti Airtel 4.30 per cent, HUL 4.14 per cent, ICICI Bank 3.49 per cent, Reliance 2.86 per cent, Bajaj Auto 2.61 per cent, SBI 2.46 per cent and Axis Bank 2.38 per cent.

GAIL (India) rose 3.90 per cent. GAIL (India) on Monday, announced it has received intimation from the Ministry of Petroleum and Natural Gas that the Cabinet Committee on Economic Affairs (CCEA) approved 40 per cent capital grant (limited to Rs 5,176 crore) of the estimated capital cost of Rs 12,940 crore to GAIL (India) for execution of Jagdishpur-Haldia/Bokaro-Dhamra gas pipeline (JHBDPL) project by 2020. It was followed by ONGC 3.31 per cent, Cipla 2.96 per cent, Asian Paints 1.88 per cent and Infosys 1.46 per cent.

The total turnover during the week on BSE and NSE declined to Rs 9,870.75 crore and Rs 59,232.39 crore, respectively, as against last weekend's level of Rs 19,026.44 crore and Rs 1,05,459.39 crore.
Bullion: Gold continued its losing streak for the third

straight week at the domestic bullion market on the back of subdued demand from stockists and investors mainly on the turnaround in international markets.

The truncated week saw the market witnessing a narrow-range trade throughout the week amid lack of local buying interest despite festive season, while unwinding of long positions by speculative traders also added downward pressure on gold.

However, silver rebounded from its last two week fall, due to speculative lower-level buying and higher industrial demand.

The bullion market remained closed on Tuesday and Wednesday for 'Dussehra' and 'Muharram', respectively.

In worldwide trade, gold futures settled lower as the dollar climbed on the back of upbeat US retail sales data, but scored their first weekly gain in three weeks.

Futures had posted decline in each of the last two weeks, with last week's around 5 per cent drop being the largest of its kind in more than three years.

The US retail sales rebounded 0.6 per cent in September while producer prices also rose broadly to record their biggest year-on-year increase since December 2014.

Gold futures ended the week about 0.3 per cent higher, while silver held on to a nearly 0.4 per cent gain in the week.
In New York Comex trade, gold for December delivery rose

to finish at USD 1,255.50 an ounce as compared to last weekend's close of USD 1,251.90 and silver for December also climbed to settle at USD 17.441 an ounce from USD 17.38.

On the domestic front, standard gold (99.5 purity) commenced higher at Rs 29,900 per 10 gram as compared to last Friday's close of Rs 29,845, later it gained to Rs 29,960 before drifting back to close at Rs 29,750, revealing a loss of Rs 95 per 10 gram, or 0.32 per cent.

Similarly, pure gold (99.9 purity) also resumed on a positive note at Rs 30,050 per 10 gram as against last weekend's level of Rs 29,995, later moved-up to Rs 30,110 before ending at Rs 29,900, showing a fall of Rs 95 per 10 gram or 0.32 per cent.

Silver ready (.999 fineness) opened higher at Rs 42,925 per kilo from its last weekend's level of Rs 42,385 and rose to Rs 43,080 before finishing at Rs 42,680, registering a rise of Rs 295 per kilo, or 0.70 per cent.
Oils and Oilseeds: Groundnut oil slumps, while refined

palmoil rebounds, non-edible continues its downtrend and linseed oil maintain steady trend at the Vashi oils and oilseeds wholesale market during the truncated week under review.

Groundnut oil prices tumbled on subdued demand from stockists and retailers on the back of heavy arrivals from producing region.

While, refined palmolein recovered following fresh demand from retailers.

Linseed oil continued its stable position due to lack of demand from paint and allied industries.

Meanwhile, castorseeds bold and castoroil commercial fell further owing to reduced demand from shippers and soap industries, extending its fall for the third straight week.

The oils and oilseeds market remained closed on 11th October and 12th October for 'Dussehra' and 'Muharram', respectively.

In the edible oil segment, groundnut oil opened lower at Rs 1,280 and later drifted to close at Rs 1,100 from its previous weekend's level of Rs 1,290 per 10 kg, showing a sharp fall of Rs 190.

Refined palmolein resumed lower at Rs 572 and later rose to conclude at Rs 584 from last weekend's level of Rs 574 per 10 kg, showing a smart gain of Rs 10 per 10 kg.

Among the non-edibles, castorseeds bold opened steady at Rs 3,750 and later ended lower at Rs 3,720 as against last Saturday's level of Rs 3,750, showing a loss of Rs 30 per 100 kg.

Castoroil commercial also opened stable at Rs 780 and later finished lower at Rs 774 from preceding weekend's level of Rs 780, registered a marginal loss of Rs 6 per 10 kg.

However, linseed oil opened and closed at previous weekend's level of Rs 1,050 per 10 kg.
Forex: The rupee ended marginally lower against the US

dollar for the second straight week in a relatively tepid trading due to stray demand for the greenback amid looming concerns about a Fed rate hike.

After rebounding from a three-week low, the home currency settled with a mere three paise loss at 66.71 during the week.

Much of the focus in the forex markets was on the outlook for US monetary policy as the minutes of the Federal Reserve's September policy meeting showed the Federal Reserve is edging ever closer to carry out a rate hike this year.

A massive sell-off in financial and currency markets worldwide largely weighed on trade.

Resurgent dollar overseas alongside fresh capital outflows also added to the already heightened woes for rupee, a forex dealer commented.

The domestic unit started the week on a firm footing at 66.58 as against last Friday's closing value of 66.68 at the Inter-bank Foreign Exchange (Forex) market and gained further ground to hit a high of 66.53 on initial dollar selling by banks and corporates.

However, reacting vehemently to the Fed minutes outcome, the local unit plunged sharply to retrace its three-week low of 66.96 on Thursday before recouping most of its losses towards the tail-end trade to supported by easing inflationary pressure.

It finally settled at 66.71, showing a small loss of three paise, or 0.04 per cent.

The Forex market remained closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.
image
Business Standard
177 22

Sensex below 28k, drops 388 points for the week

Stocks: The curtailed trading week saw the falling below the psychological 28k-level amid intense volatility, losing 387.54 points, while the broader going below the key 8,600-level.

The heavily curtailed three session trading week saw the market opening on lacklustre note as sentiment bridled due to holidays and government release of key economic data like IIP, and and keenly watched corporate results, while the key indices started positive and traded choppy later part of week.

The stock Exchanges remained closed on Tuesday and Wednesday for "Dussehra" and "Moharrum" during the week.

The initial positiveness shortlived and the index suffered sharp losses during second session trade due to intense volatility and selling pressure impacted by poor Chinese trade data and US rate hike fears as well as subdued August domestic Industrial production (IIP) data.

However, easing September 4.31 per cent and 3.57 along with mixed start of quarterly somehow failed to cheer the investors sentiment due to weak revenue guidance outlook from IT bellwether Infosys, however, the index did consolidate with minor gains during weekend trade despite incurring weekly losses.

The BSE benchmark resumed higher at 28,144.28 and hovered between 28,216.64 and 27,548.18 before ending the week at 27,673.60, showing a loss of 387.54 points or 1.38 per cent.

The NSE also dropped by 114.20 points or 1.31 per cent to end the week at 8,583.40.

Selling was led by Realty, Bankex, Power, Auto, Metal, FMCG followed by secondline shares of midcap and smallcap companies.

Buying interest was witnessed in Oil&Gas, IT, Power and Capital Goods sectors.
Meanwhile, foreign portfolio investors (FPIs) and foreign

institutional investors (FIIs) sold shares worth Rs 2,276.52 crore during the week, as per Sebi's record including the provisional figure of October 14.

In the broader market, the BSE mid-cap index lost 123 points or 0.91 per cent to settle at 13,419.62. The BSE small-cap index fell 45.64 points or 0.35 per cent to settle at 13,176.76. The fall in both these indices were lower than the Sensex's decline in percentage terms.

Among the S&P, BSE sector and industry indices, realty fell by 2.59 per cent, followed by bankex 1.97 per cent, power 1.33 per cent, auto 1.29 per cent, metal 0.97 per cent, FMCG 0.92 per cent, healthcare 0.52 per cent and tech 0.36 per cent.

However, oil and gas rose by 0.80 per cent followed by IT 0.72 per cent, capital goods 0.36 per cent and consumer durables 0.03 per cent.

Among the 30-share pack, 20 stocks fell and remaining 10 stocks rose during the week.

HDFC lost 6.15 per cent. The company announced that pursuant to the approval of the board of directors of the company at its meetings held previously, the company is contemplating, subject to market conditions, undertaking the fourth issuance of rupee denominated bonds to overseas investors. It was followed by Adani Ports 4.72 percent, Bharti Airtel 4.30 per cent, HUL 4.14 per cent, ICICI Bank 3.49 per cent, Reliance 2.86 per cent, Bajaj Auto 2.61 per cent, SBI 2.46 per cent and Axis Bank 2.38 per cent.

GAIL (India) rose 3.90 per cent. GAIL (India) on Monday, announced it has received intimation from the Ministry of Petroleum and Natural Gas that the Cabinet Committee on Economic Affairs (CCEA) approved 40 per cent capital grant (limited to Rs 5,176 crore) of the estimated capital cost of Rs 12,940 crore to GAIL (India) for execution of Jagdishpur-Haldia/Bokaro-Dhamra gas pipeline (JHBDPL) project by 2020. It was followed by ONGC 3.31 per cent, Cipla 2.96 per cent, Asian Paints 1.88 per cent and Infosys 1.46 per cent.

The total turnover during the week on BSE and NSE declined to Rs 9,870.75 crore and Rs 59,232.39 crore, respectively, as against last weekend's level of Rs 19,026.44 crore and Rs 1,05,459.39 crore.
Bullion: Gold continued its losing streak for the third

straight week at the domestic bullion market on the back of subdued demand from stockists and investors mainly on the turnaround in international markets.

The truncated week saw the market witnessing a narrow-range trade throughout the week amid lack of local buying interest despite festive season, while unwinding of long positions by speculative traders also added downward pressure on gold.

However, silver rebounded from its last two week fall, due to speculative lower-level buying and higher industrial demand.

The bullion market remained closed on Tuesday and Wednesday for 'Dussehra' and 'Muharram', respectively.

In worldwide trade, gold futures settled lower as the dollar climbed on the back of upbeat US retail sales data, but scored their first weekly gain in three weeks.

Futures had posted decline in each of the last two weeks, with last week's around 5 per cent drop being the largest of its kind in more than three years.

The US retail sales rebounded 0.6 per cent in September while producer prices also rose broadly to record their biggest year-on-year increase since December 2014.

Gold futures ended the week about 0.3 per cent higher, while silver held on to a nearly 0.4 per cent gain in the week.
In New York Comex trade, gold for December delivery rose

to finish at USD 1,255.50 an ounce as compared to last weekend's close of USD 1,251.90 and silver for December also climbed to settle at USD 17.441 an ounce from USD 17.38.

On the domestic front, standard gold (99.5 purity) commenced higher at Rs 29,900 per 10 gram as compared to last Friday's close of Rs 29,845, later it gained to Rs 29,960 before drifting back to close at Rs 29,750, revealing a loss of Rs 95 per 10 gram, or 0.32 per cent.

Similarly, pure gold (99.9 purity) also resumed on a positive note at Rs 30,050 per 10 gram as against last weekend's level of Rs 29,995, later moved-up to Rs 30,110 before ending at Rs 29,900, showing a fall of Rs 95 per 10 gram or 0.32 per cent.

Silver ready (.999 fineness) opened higher at Rs 42,925 per kilo from its last weekend's level of Rs 42,385 and rose to Rs 43,080 before finishing at Rs 42,680, registering a rise of Rs 295 per kilo, or 0.70 per cent.
Oils and Oilseeds: Groundnut oil slumps, while refined

palmoil rebounds, non-edible continues its downtrend and linseed oil maintain steady trend at the Vashi oils and oilseeds wholesale market during the truncated week under review.

Groundnut oil prices tumbled on subdued demand from stockists and retailers on the back of heavy arrivals from producing region.

While, refined palmolein recovered following fresh demand from retailers.

Linseed oil continued its stable position due to lack of demand from paint and allied industries.

Meanwhile, castorseeds bold and castoroil commercial fell further owing to reduced demand from shippers and soap industries, extending its fall for the third straight week.

The oils and oilseeds market remained closed on 11th October and 12th October for 'Dussehra' and 'Muharram', respectively.

In the edible oil segment, groundnut oil opened lower at Rs 1,280 and later drifted to close at Rs 1,100 from its previous weekend's level of Rs 1,290 per 10 kg, showing a sharp fall of Rs 190.

Refined palmolein resumed lower at Rs 572 and later rose to conclude at Rs 584 from last weekend's level of Rs 574 per 10 kg, showing a smart gain of Rs 10 per 10 kg.

Among the non-edibles, castorseeds bold opened steady at Rs 3,750 and later ended lower at Rs 3,720 as against last Saturday's level of Rs 3,750, showing a loss of Rs 30 per 100 kg.

Castoroil commercial also opened stable at Rs 780 and later finished lower at Rs 774 from preceding weekend's level of Rs 780, registered a marginal loss of Rs 6 per 10 kg.

However, linseed oil opened and closed at previous weekend's level of Rs 1,050 per 10 kg.
Forex: The rupee ended marginally lower against the US

dollar for the second straight week in a relatively tepid trading due to stray demand for the greenback amid looming concerns about a Fed rate hike.

After rebounding from a three-week low, the home currency settled with a mere three paise loss at 66.71 during the week.

Much of the focus in the forex markets was on the outlook for US monetary policy as the minutes of the Federal Reserve's September policy meeting showed the Federal Reserve is edging ever closer to carry out a rate hike this year.

A massive sell-off in financial and currency markets worldwide largely weighed on trade.

Resurgent dollar overseas alongside fresh capital outflows also added to the already heightened woes for rupee, a forex dealer commented.

The domestic unit started the week on a firm footing at 66.58 as against last Friday's closing value of 66.68 at the Inter-bank Foreign Exchange (Forex) market and gained further ground to hit a high of 66.53 on initial dollar selling by banks and corporates.

However, reacting vehemently to the Fed minutes outcome, the local unit plunged sharply to retrace its three-week low of 66.96 on Thursday before recouping most of its losses towards the tail-end trade to supported by easing inflationary pressure.

It finally settled at 66.71, showing a small loss of three paise, or 0.04 per cent.

The Forex market remained closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard