On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 130.25 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 502.26 crore.
Dollar built on last week’s gains and rose toward a 16-month high as traders expect the U.S. Federal Reserve to keep tightening monetary policy, but sterling remained under heavy pressure amid uncertainty over a Brexit deal.
Gains from a low oil price would likely be offset by a weak Chinese yuan, restricting the Indian rupee in a range of 72.30-73.20 per US dollar next week, experts said.
Breaking its six-straight weeks of gains, gold slipped from near six-year highs with prices falling by Rs 580 to end at Rs 32,070 per 10 grams at the bullion market during the week owing to fall in demand from jewellers and retailers amid a weak trend overseas.
The U.S. Federal Reserve held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
Indian retail inflation likely slowed to its slowest pace in 12-months in October after food and fuel costs fell, keeping the official consumer prices gauge below the central bank’s medium-term target for a third consecutive month, a Reuters poll found.
Randal Quarles, head of supervision at the Federal Reserve, said the central bank would re-propose aspects of a capital rule known as the “stress capital buffer” due to industry concerns.
U.S. stocks were set to fall at the open, as a batch of weak Chinese data raised concerns about global growth a day after the Federal Reserve hinted at gradual tightening of borrowing costs.
UK shares fell, ending two days of gains and taking their lead from weaker U.S. and Asian markets overnight after a hawkish Federal Reserve statement renewed worries about an imminent interest rate hike and weak metals prices weighed.
European shares dipped at the open, joining a global market retreat that spread from Wall Street to Asian markets after the Federal Reserve noted a dip in U.S. business investment and suggested a rate hike was on track for December.