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Rupee strengthens on foreign inflows, dollar sales

Updated at : 2025-03-24 20:30:02

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The Indian rupee surged to 85.63 per dollar, erasing 2025 losses amid strong foreign inflows and exporter dollar sales. The currency gained 2.1% in March, outperforming Asian peers. Foreign portfolio investors bought $1.3 billion in stocks and bonds, supporting the rupee s appreciation.

Indian markets extended their winning streak to six days, with Sensex surging over 1,000 points and Nifty50 closing above 23,650. Realty, banking, and power stocks saw strong buying. Kotak Mahindra Bank, ICICI Bank, and Bajaj Finance hit fresh 52-week highs.

power sector stocks: India’s power sector is witnessing strong demand growth, with peak demand projections rising. Experts see near-term investment opportunities in NTPC, KEC International, and Kalpataru Projects. However, high valuations and low ROE in utilities pose long-term concerns.

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US stock indexes opened higher on Monday, helped by signs the Trump administration is taking a measured approach on tariffs against its trading partners, while investors awaited economic data for clues on the health of the economy and inflation.

Capital markets regulator Sebi board on Monday decided to allow investment advisers and research analysts to charge advance fees for up to one year.

Gold prices plunged Rs 700 to Rs 90,550 per 10 grams in the national capital on Monday amid persistent selling by the jewellers and stockists, according to the All India Sarafa Association.

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The Nifty Auto index closed 0.84 per cent up at 21938.7.

Shares of GAIL, MGL, and other CGD companies surged up to 7% after PNGRB proposed gas transmission tariff amendments. While brokerages like CLSA and Citi viewed it positively, Kotak Institutional Equities cautioned that the financial impact may be minimal.

Market regulator Securities and Exchange Board of India s (Sebi) board on Monday approved a proposal to increase the threshold for FPI disclosure to Rs 50,000 crore from Rs 25,000 crore earlier. The regulator will also set-up a committee to review the provisions related to the conflict of interest of officials.

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