The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01% higher at 101.85.<\/p>\r\n
Rupee opened at 83.24 a dollar as compared to its previous close of 83.28.The Indian rupee rose 3 paise to 83.25 against the US dollar in early trade on Friday, tracking lower greenback on the back of easing US Treasury yields. The local currency opened at 83.24 a dollar as compared to its previous close of 83.28.<\/p>\r\n
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01% higher at 101.85.On Thursday, the\u00a0rupee<\/a>\u00a0settled at 83.28 against the dollar.<\/p>\r\n However, outflow of foreign funds and increased volatility in crude oil prices triggered by geopolitical situation put pressure on the Indian currency, forex traders said.<\/p>\r\n \u201cDollar is moving south as fresh economic data from US signaled that economy is feeling the heat of aggressive rate hikes, which may prompt US Fed to start cutting rates in early 2024. Additionally, investors will remain cautious ahead of core-PCE price index to get new insight into whether inflation is continuing to moderate, as it would boost chances of rate cuts in March 2024,”.It expects USDINR to slip towards 83.10 level as long as its stays below 83.35 level.<\/p>\r\n Meanwhile, global oil price benchmark Brent crude climbed 0.87% to $80.08 per barrel.<\/p>\r\n On the domestic front, the Indian stock market indices traded higher following positive cues from global peers.The 30-share\u00a0BSE<\/a>\u00a0Sensex was trading 267.25 points, or 0.38%, higher at 71,132.35, while the Nifty rose 98.60 points, or 0.46%, to 21,353.65.Foreign institutional investors (FIIs) were net sellers in the equity market on Thursday as they offloaded shares worth\u00a0\u20b91,636.19 crore, according to exchange data.<\/p>\r\n MOIL, the largest producer of manganese ore in India, achieved a production increase of 26% and sales that broke a multi-year record. The company is strategically increasing investments to meet growing demand in the manganese ore industry.<\/p>\r\n With a remarkable year-to-date return of 84%, soaring from\u00a0\u20b9170 per share to\u00a0\u20b9312.60, MOIL’s shares are delivering their best annual performance since listing in 2010.\u00a0<\/p>\r\n In early Friday trading, shares of MOIL, the country’s largest manganese ore producer, rose by 4.60% to reach\u00a0\u20b9314.40 apiece following the company’s 2023 production update.<\/p>\r\n In a filing on Thursday, the company announced that it had achieved a production of over 16 lakh tonnes in the current calendar year so far, marking another significant milestone for MOIL. This production figure represents a remarkable 26% increase compared to the previous record set in 2019.<\/p>\r\n Additionally, the company reported that sales for the calendar year up to December 20, 2023, have surpassed 14 lakh tonnes, breaking the multi-year record set in 2007.<\/p>\r\n LIC share price jumped over 7 per cent to hit a 52-week high after govt grants exemption to achieve a minimum public shareholding of 25 per cent.<\/p>\r\n LIC share price has gained nearly 12 per cent this year so far.\u00a0<\/p>\r\n LIC share price jumped over 7 per cent to hit its fresh 52-week high of\u00a0\u20b9820.05 in morning trade on\u00a0BSE<\/a>\u00a0on Friday, December 22, a day after the company said the government had granted a one-time exemption to it to achieve minimum public shareholding of 25 per cent.<\/p>\r\n LIC share price opened at\u00a0\u20b9805.05 against the previous close of\u00a0\u20b9764.55 and soon jumped 7.3 per cent to hit its 52-week high. Around 9:50 am, the stock was 5.49 per cent up at\u00a0\u20b9806.50.<\/p>\r\nMOIL shares rise over 4.5% on strong surge in manganese ore production<\/h5>\r\n
LIC share price jumps over 7% to hit a 52-week high on getting a one-time 25% shareholding exemption from govt<\/h5>\r\n