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Meanwhile, country's foreign exchange reserves dipped by.


Date: 28-02-2017
Subject: Meanwhile, country's foreign exchange reserves dipped by
USD 56.8 million to USD 362.73 billion in the week to February 17, on account of decline in foreign currency assets (FCAs).

Domestic bourses succumbed to fresh bout of selling pressure after rallying for six straight sessions as investors booked profits in banking, telecom and auto shares even as market heavyweight Reliance Industries maintined its surge.

The benchmark Sensex fell back over 80 points to end at 28,812.88, while broader Nifty settled 42.80 points lower at 8,896.70.

In the forward market, premium for dollar moved down owing to renewed receivings from exporters.

The benchmark six-month premium for July declined to 136-138 paise from 139.50-140.25 paise and the far-forward January 2018 contract also edged down to 292-294 paise from 295.25-296 paise last Thursday.

On global commodity front, crude prices staged a sharp rebound as traders bought the dip after last week's sharp plunge, but rising US production limited gains.

Source: dnaindia.com

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