Investors are panicking as Bitcoin falls below the $30,000 level
On Tuesday, the global cryptocurrency market reached its lowest point in history, with Bitcoin falling below $30,000 a coin, sending millions of investors into a panic. The whole global cryptocurrency market fell 13%, hovering around $1.37 trillion in market capitalization, its lowest level this year. Bitcoin had dropped more than 55% from its all-time high […]
As crude oil prices rise, the rupee falls to an all-time low of 77.42 per dollar
The Indian rupee has broken over the 77-per-dollar barrier for the first time, owing to rising crude oil prices and a growing trade deficit.The rupee was trading at 77.32 per dollar, 41 paise lower than its previous close.The US Federal Reserve’s hawkish posture has resulted in higher US bond yields, with the dollar index reaching […]
Uber reports a $5.9 billion net loss as Asian investment values tumble
Uber reported a net loss of $5.9 billion owing to unrealized losses from holdings in Didi Global, Grab Holdings, and Aurora Innovation, but provided a good earnings projection for the current period. It indicated that the firm intends to capitalize on strong ride demand without jeopardizing earnings by focusing on product upgrades rather than incentives […]
In April, auto retail sales increased 37% due to a low Covid-hit base impact
Automotive retail sales in India surged by 37% in April on a low base of COVID-affected April last year, according to the automobile dealers’ group FADA on Thursday. Total sales across all categories increased to 16,27,975 items in April, up from 11,87,771 units the previous year. When compared to April of last year, all vehicle […]
Bajaj Auto’s April sales fell 20% to 310,774 units, with domestic sales down 24%
Bajaj Auto Ltd reported a 20% drop in overall sales in April to 3,10,774 units on Monday. Bajaj Auto said in a statement that it sold 3,88,016 vehicles in the same month last year. It stated that total domestic sales in April 2021 were 1,02,177 units, down 24% from 1,34,471 units in April 2021.Last month’s […]
As the yen falls on the dovish BOJ, the dollar reaches a 20-year high and the euro a 5-year low
The dollar rose to a 20-year high against its peers on Thursday as the Bank of Japan maintained its dovish stance, sending the yen to its lowest level since 2002 and the euro to a five-year low amid concerns about the region’s economic growth. The dollar soared beyond 130 yen as the Bank of Japan […]
After Q4 earnings, Bajaj Auto shares fell over 2% to Rs 3,804.80 on the BSE.
Bajaj Auto’s stock fell over 2% in early Thursday trade after the business reported a 2% drop in consolidated net profit for the fourth quarter ended March 2022. On the BSE, Bajaj Auto shares fell 2.58 percent to Rs 3,804.80. The stock fell 2.57 percent to Rs 3,805 per share on the NSE. Bajaj Auto […]
Reliance Industries has become the first Indian business to have a market capitalization of Rs 19 trillion
After reaching a new high, Mukesh Ambani’s Reliance Industries Ltd (RIL) became the first Indian listed firm to have a market capitalization of Rs 19 trillion. In an otherwise sluggish market, the stock set a record high of Rs 2,827.10, up 2% on the BSE in intraday trade on Wednesday. RIL’s market capitalization was Rs […]
In early trade, the rupee fell 16 paise to 76.72 against the US dollar.
In early trade on Wednesday, the rupee fell 16 paise to 76.72 against the US dollar, driven down by the greenback’s strength and continuous foreign fund outflows. The rupee opened at 76.69 versus the dollar on the interbank foreign exchange, before losing ground to quote at 76.72, a drop of 16 paise from the previous […]
Rupee slips for third session in a row; oil near $113 a barrel
The rupee depreciated for the third straight session to close 10 paise lower at 76.29 against the dollar on Monday, tracking the strength of the greenback overseas, coupled with foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 76.41 against the American currency, and shuttled between a high of 76.20 […]
