Stock Market Today: GIFT Nifty on the NSE IX traded 7.5 points, or 0.04 percent, muted at 19,930.50, indicating Dalal Street will begin the week with muted trading. On Friday, the Nifty ended 93 points higher, forming a bull candle that was both fair and long on the weekly and daily charts. As investors awaited this week’s U.S. inflation statistics, which would suggest the Federal Reserve’s next interest rate move, gold prices started the week on a strong note on Monday, helped by a decline in the dollar.
Rupee rises by 21 paise
By closing 21 paise higher at 83.02 against the US dollar on Friday, the rupee ended a four-day losing skid, supported by a strong trend in local equities and speculation about RBI intervention. All three of Wall Street’s major averages suffered weekly declines on Friday as investors fretted about interest rates and awaited the release of future U.S. inflation numbers. The S&P 500 ended the day slightly higher but way below its session high.
Stock Market Today: RBI to launch wholesale CBDC
Senior central bank officials announced on September 10 that the Reserve Bank of India (RBI) will launch the wholesale form of its central bank digital currency (CBDC), the digital rupee-wholesale, in the call money market by October. In November 2022, the RBI launched the wholesale CBDC trial, concentrating on the settlement of secondary market transactions in government securities.
Ajay Kumar Choudhary, an executive director at the RBI, said on the sidelines of the G20 Leaders’ Summit in New Delhi, that “Interbank borrowing in wholesale CBDC we are going to start this month itself. Either this month or next month. We are testing it. Once we are ready we will be able to start.”
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