Rupee rises 21 paise to 6944 vs USD in early trade

first_imgMumbai: The rupee appreciated by 21 paise to 69.44 against the US dollar in opening trade Tuesday, driven by weakening of the greenback and positive opening in domestic equities. At the interbank foreign exchange market, the domestic unit opened at 69.49 against the dollar, then gained momentum and touched 69.44, up 21 paise over its previous close. The rupee had settled at 69.65 against the US dollar Monday. Forex dealers said, selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee. Also Read – SC declines Oil Min request to stay sharing of documents On the other hand, rising crude oil prices restricted the rupee upmove. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 216.20 crore Monday, as per the provisional data. Brent crude futures, the global oil benchmark, rose 0.18 per cent to USD 62.42 per barrel. Meanwhile, domestic bourses opened on a bullish note Tuesday with benchmark indices Sensex trading 123.15 points up at 39,907.67 and Nifty up 29.40 points at 11,952.10.last_img read more

Markets Right Now Tech stocks lead US indexes higher

NEW YORK — The latest on developments in financial markets (all times local):9:35 a.m.Technology stocks were leading indexes higher on Wall Street after the U.S. gave Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers.Chipmakers did especially well in the early going Monday. Nvidia jumped 4.2% and Qualcomm rose 2.5%.Stocks are coming off their third weekly loss in a row as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon.Investors were relieved that to see long-term bond yields rising. The yield on 10-year Treasury rose to 1.61% from 1.54% late Friday.The S&P 500 rose 34 points, or 1.2%, to 2,922.The Dow Jones Industrial Average rose 290, or 1.1%, to 26,172. The Nasdaq rose 119 points, or 1.5%, to 8,014.The Associated Press read more

Motorists urged to take care on wet roads as Cork issues flood

first_imgTHE CITY OF Cork looks set to be hit hard by the torrential rainfall the country is currently experiencing.Cork City Council today said that high tides from 6pm today, 6.20am and 6.40pm tomorrow and 7am and 7.15pm on Sunday would put the city at risk of tidal flooding.Areas most likely to be affected, the council say, are: South Terrace, Trinity Bridge, Rutland Street, Cotter Street, Stable Lane, Union Quay, Morrison’s Quay, Proby’s Quay, French’s Quay, Crosses Green, Sharman Crawford St, Wandesford Quay, Lavitts Quay, Kyrls Street & Kyrls Quay, Coal Quay and Lapps Quay.The council has recommended businesses and homeowners in these areas take preventative measures.Met Éireann is forecasting that heavy rain will continue for the rest of today, with some heavy showers tomorrow.They have issued weather alert for the rest of the day, saying that some parts of the country will see up to 40mm of rain before midnight.Meanwhile, the AA has called on motorists to be careful, after two fatal accidents on the roads already.“Friday morning commuter traffic is normally lighter than the rest of the week but not today’ says Aoife Carragher, Head of AA Roadwatch.“In Cork a crash on the South Ring Road in very poor driving conditions resulted in extremely long delays. Similarly in Dublin city centre against the back drop of persistent rain two minor breakdowns brought traffic to a standstill. Fallen trees, overturned trucks, minor tips and any number of breakdowns have been the order of the day.“It is essential for drivers to be aware of the change in conditions as they take to the roads. Speed is unfortunately still the most common cause of collisions so motorists need to slow down and to increase braking distances. It’s much darker out there so use your dipped headlights; this will improve visibility and it will make it easier for you to be seen by other vehicles, which is equally important,” says Aoife.Read: Even the weather has the post-Budget blueslast_img read more