Mon, Feb 5, 2024 8:52 PM
Oil steady as Mideast strikes compete with rate cuts caution
A Flip by Shubhangi Gupta
The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said.
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Shares of Anand Rathi Wealth Ltd. surged another 4.5% on Friday, adding to Thursday's 2.7% advance. The stock ended 4% higher for the week, outperforming the Nifty Midcap index which fell 6%, and the Smallcap index, which declined 7% for the week. The stock will be in focus on Monday, January 13, as the company's board will meet to discuss its quarterly results for the October-December period.
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