Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business2 days ago
The rupee appreciated by 5 paise to 83.11 against the US dollar (Dh22.64) in early trade on Wednesday, tracking a weak America currency and softening crude oil prices in the overseas market.
Some buying by foreign equity investors supported the Indian currency even though it was pressured by a subdued sentiment in the domestic equity markets, forex traders said.
At the interbank foreign exchange market, the local unit opened stronger by 8 paise at 83.08 and then touched the lowest level of 83.11 against the greenback, registering a gain of 5 paise from its previous close.
China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts.
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