Day 2 Lunch: Gill, Reddy take India to 427 for 4
New Delhi (PTI): Skipper Shubman Gill treated the West Indies bowlers with utter disdain while inching closer to his 10th Test hundred as India piled on the visitors’ misery, reaching 427 for four at lunch on the second day of the second Test here on Saturday. At the break, Gill was batting on 75 in company of Dhruv Jurel (7 batting).
Even as Yashasvi Jaiswal (175, 258 balls) was unfortunately run-out at the start of the day, Gill's concentration didn't waver with his boundary count reaching 11 fours along with a maximum, going into the break.
Nitish Kumar Reddy (43 off 54 balls), promoted to get some valuable batting time and prop up the score in quick time, added 91 for the fourth wicket in just 17.1 overs.
The best shot of the morning session and that too by a distance was the one that brought up Gill's second fifty of the series. With a packed off-side field, Jayden Seales bowled on middle-leg with Gill flicking it through the vacant mid-wicket region. When Justin Greaves was brought into the attack, his lack of pace allowed Gill to step out and loft him over mid-wicket for his first six.
Gill, who had decided to defend during the final hour of the opening day, came out with a different mindset.
It only helped that Anderson Phillip sprayed all over and was hit for a flurry of boundaries. A delivery on the pads was quickly dispatched behind square on the leg-side.
In his next over, Phillip was cut square of the wicket -- one a bit late behind square and the other in-front with same intent that produced same result. There was an on-drive and when the keeper was brought up to the stumps with '7-2' off-side field, he stepped out and hit over extra cover.
Reddy started with a cover drive off Seales and then hit another couple of fours by deliberately opening the bat face, guiding the ball through the slip cordon. After being dropped by Phillip off Warrican's bowling, Reddy thumped the same bowler over long on fence for a six. He repeated the same shot in his next over.
The only possible mode of dismissal for Jaiswal (175) seemed to be a run-out, and that’s exactly how his marathon innings ended following a mix-up with Gill, who sent him back after the batter had crossed more than halfway down for a quick single.
Gill could be held partly responsible as it was Jaiswal’s call after he had pushed the ball slightly to the right of mid-off. Had Gill trusted his partner and continued running, the single looked very much on, with Jaiswal already sprinting towards the danger end.
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Rupee falls 5 paise to close at 89.94 against US dollar after RBI cuts repo rate
Mumbai (PTI): The rupee on Friday gave up its initial gains and settled for the day lower by 5 paise at 89.94 (provisional) against US dollar, after the Reserve Bank cut key benchmark interest rate for the first time in six months.
Forex traders said the Reserve Bank of India's (RBI) rate cut will weigh on the rupee, but RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through open market operations (OMO), combined with a USD 5 billion buy-sell swap, will support the local currency.
At the interbank foreign exchange market, the rupee opened at 89.85 against the US dollar and gained ground, touching 89.69 in morning deals, registering a 20-paise gain from its previous close.
After the RBI's monetary policy announcement, the rupee lost ground and fell to 90.06 against the American currency, a 16-paise decline from its previous close of 89.89. The currency is down almost 5 per cent against the dollar this year, the worst performer in Asia.
The local unit finally settled for the day lower by 5 paise at 89.94 (provisional) against the American currency.
"Beyond the rate cut, RBI's decision to purchase government bonds worth up to Rs 1 lakh crore through OMO, combined with a USD 5 billion buy-sell swap, marks a decisive effort to restore durable liquidity and stabilize currency markets after the rupee's sharp depreciation," said Sachin Bajaj, Executive Vice President & Chief Investment Officer, Axis Max Life Insurance.
The RBI on Friday cut the key benchmark interest rate for the first time in six months and took steps to boost liquidity to support a "goldilocks" economy amid high US tariffs.
Reserve Bank Governor Sanjay Malhotra said the central bank does not target any band for the rupee in the forex market, and allows the domestic currency to find its own correct level.
"We don't target any price levels or any bands. We allow the markets to determine the prices. We believe that markets, especially in the long run, are very efficient. It's a very deep market," he said while replying to a question on rupee depreciation at a post-monetary policy press meet.
Malhotra said fluctuations in the market keep occurring, and the RBI's effort is always to reduce any abnormal or excessive volatility. "And that is what we will continue to endeavour," he added.
In its bi-monthly monetary policy, the RBI announced three-year USD/INR Buy Sell swaps of USD 5 billion this month. When asked if this is aimed at checking rupee depreciation, Malhotra said, "It is a liquidity measure. It is not to support the rupee".
The governor further said the country has sufficient foreign exchange reserves and that the current account is manageable, and that, given the strong fundamentals of the economy, the country should witness strong capital flows going forward.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.96.
Brent crude, the global oil benchmark, rose 0.02 per cent to USD 63.27 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 447.05 points to settle at 85,712.37, while the Nifty climbed 152.70 points to 26,186.45.
Foreign institutional investors sold equities worth Rs 1,944.19 crore on a net basis on Thursday, according to exchange data.
