Foreign currency trading how to

Indian benchmark indices lost 1 percent in the week ended December 6 after the market participants were left disappointed with the Reserve Bank of India's (RBI) decision on December 5 to maintain repo rate, despite a majority hoping for a rate cut.The market remained volatile during the week as it finished lower for four out of the five trading sessions amid domestic cues including RBI policy and hopes of a trade deal between the United States and China.The RBI's Monetary Policy Committee (MPC) surprisingly kept repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15 percent against the market expectation of 0.25 bps cut, while maintaining the accommodative stance.Close The RBI has cut its real gross domestic product (GDP) outlook for the current fiscal to 5 percent. The central bank had in October projected GDP growth for 2019-20 at 6.1 percent. related news Small & midcaps struggle in a volatile week; nearly 50 stocks fell 10-60% … [Read more...] about Week in 5 charts: Sensex, Nifty fall 1% amid monetary policy, trade hopes; rupee gains

Foreign exchange reserves gained $2.484 billion to touch a new high of $451.08 billion in the week to November 29, according to the weekly data released by the Reserve Bank on December 6.In the previous week, the reserves had increased by $347 million to $448.6 billion.Announcing the fifth bi-monthly monetary policy on Thursday, governor Shaktikanta Das had said the reserves touched $451.7 billion as of December 3, an increase of $38.8 billion since April.Close In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by $2.642 million to $419.367 billion, according to the data. related news Unnao case: Want to see accused shot dead or hanged, says victim's father Bank of Japan to consider offering bleaker view on output as trade war bites: Sources Trade war goes digital: countries eye tariffs on Internet economy Expressed in dollar terms, the foreign currency assets … [Read more...] about Forex kitty continues to swells, scales past $451-bn-mark

The Sensex and the Nifty closed the week with losses of about 1 percent. The Nifty, which hit a record high of 12,158 last week, failed to hold onto the momentum and closed with losses of 1.1 percent for the week ended December 6.Experts are of the view that selling was largely seen in the rate-sensitive pack after the RBI policy outcome. The consolidation may continue in the coming week as well, but 11,700-11,800 is likely to act as crucial support for the Nifty, they say.Below are the top 10 stocks which moved the most this week:Close Whirlpool, up 9% related news D-Street Buzz: Banks bleed led by YES Bank, RBL Bank, SBI; Omaxe tanks 20% Shakti Pumps shares fall 3% after CARE revises credit rating Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty The share price of Whirlpool gained over 9 percent for the week on consistently strong financial performance. A sharp gain in the market price has seen the company enter the list of top 100 companies with the … [Read more...] about Top gainers & losers: Top 10 stocks which moved the most this week, YES Bank tanks 18%

The income tax department has carried out search operations on certain share-brokers and traders for allegedly executing fraudulent trades in illiquid stock options.Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi, Noida, Gurugram, Hyderabad and Ghaziabad were covered under the operation, the department said in a statement on December 7.These brokers were involved in facilitating accommodation of profits/loss through reversal trades in illiquid stock options in equity derivative segment and also currency derivative on the BSE, it said.Close The search or survey action has unravelled the entire modus-operandi which has been adopted by the share-brokers and traders to trade into the illiquid stock options in equity derivative segment and thereby generate artificial losses or profit by executing reversal trades in a very short span of time. related news 63.36% votes cast in second phase of polling in Jharkhand Nirbhaya convict writes to Prez, seeks withdrawal of … [Read more...] about Income tax dept conducts search ops on stock brokers, traders across country