Indian Rupee, BSE Sensex, NSE Nifty, Gold Price, Auto sales on January 09, 2014
Thu Jan 09 2014, 20:28 hrs
Annual car sales in India declined for the first time in 11 years in 2013, posting a 9.59 per cent dip, as the auto industry reeled under a prolonged demand slump due to the economic slowdown. Highlighting the prolonged slowdown, SIAM said car sales in India have been in positive territory only for three of the past 17 months- October 2012, August and September 2013.
The benchmark BSE index fell 0.08 percent, or 16.01 points, to end at 20,713.37, marking a total fall of 2.2 percent for 2014. The broader NSE index lost 0.1 percent, or 6.25 points, to end at 6,168.35
The BSE Sensex, which yesterday snapped a five-day losing run to mark its first positive close in 2014, ended with a loss of 16.01 points, or 0.08 per cent, at 20,713.37. Trading in a narrow 125-point zone, the index rose to a high of 20,778.13 and a low of 20,652.69 during the session.
The rupee resumed lower at 62.22 per dollar as against the last closing level of 62.07 at the Interbank Foreign Exchange market and dropped further to 62.24. The domestic unit, however, recovered afterwards to 62.16 a dollar on some selling of the US currency by banks before quoting at 62.17 at 1045 hours.
Indian rupee hits a one-week low against the US dollar of 61.9650 versus its close of 62.07/08 on Wednesday as custodian banks sell the greenback. Currently the pair is trading at 62.02/03. Traders say dollar selling by custodian banks likely on behalf of clients looking to invest in the government debt market is hurting the dollar/rupee.
State-owned Coal India Ltd (CIL) said it may miss the production target of 482 million tonnes (MT) for the 2013-14 fiscal by around 5 MT. The country is facing acute fuel shortages."In the current fiscal there may be shortfall in the production of around 5 million tonnes," Coal India Chairman and Managing Director S Narsing Rao said.
In a big relief to gold loan companies, the Reserve Bank of India(RBI) has decided to raise the loan-to-value (LTV) cap for loans against the collateral of gold jewellery to 75 per cent from the present limit of 60 per cent with immediate effect.
In tepid trade, the benchmark BSE Sensex fell over 16 points on profit-booking in realty, capital goods, banking and auto shares, amid a weak trend in Asian markets, but Infosys Ltd share price retained buoyancy ahead of its quarterly results.