Rupee Vs Dollar Today: The rupee settled at 74.88 versus the dollarThe rupee acquired marginally by four paise versus the US dollar on Friday, October 29, to settle at a one-week high of 74.88 in spite of unstable domestic equities.
At the interbank foreign exchange market, the regional unit opened at 74.78 versus the dollar and signed up an intra-day high of 74.74.
It witnessed a low of 74.98.
In an early trade session, the domestic unit rose 15 paise to 74.77 versus the greenback.On a weekly basis, the domestic currency gained two paise versus the American currency.
The dollar index, which gauges the greenback's strength versus a basket of six currencies, advanced 0.22 per cent to 93.55.
Mr Amit Pabari, MD, CR Forex: Domestically, equities had one of their worst days in 2021 as they slummed by almost 2 per cent the other day.
FIIs sold almost Rs.
3,800 crore in a single day.
Against this, DIIs stopped working to support the fall.
Most likely, their funds may have been obstructed or diverted ahead of a variety of IPOs.Now, the 'Divergence' story seems to reverse as US equities are hitting all-time high and Indian stocks are fixing down.
As circulations on account of fresh issuance are most likely to stay high, it would be intriguing to enjoy, for how long those fund remains in the marketplace.
Emkay Global Financial Solutions, Currency Desk: This week USDINR spot is backing and filling in between 74.75-74.20, and is about to end the month on a favorable note.
Next week is a truncated for Indian market but is eventful for the crosses in the middle of FOMC, BOE financial policies and the US NFP data.There are more chances for the Fed to reveal the tapering next week, to begin the process in mid-Nov or Dec, hence ahead of the result volatility in USDINR will continue and keep USDINR afloat.
IPO related inflows and some pullback in unrefined oil prices may act as a strong resistance in USDINR spot.
We anticipate USDINR to broadly trade in between 74.50-75.45.
Domestic Equity Markets Today: On the domestic equity market front, the BSE Sensex fell 677.77 points or 1.13 percent to end at 59,306.93, while the broader NSE Nifty decrease 185.60 points or 1.04 percent to 17,671.65.
Shrikant Chouhan, Head of Equity Research Study (Retail), Kotak Securities: Market slipped further on heavy correction as stretched assessments and mixed cues in other Asian indices gave financiers another factor to trim their holdings.
The benchmark indices experienced sharp selloff after breaching 18170/61000 assistance level.Following back to back correction, benchmark Nifty has actually formed a long bearish candle which plainly suggests extension of weak point in the near future.
We are of the view that the short term pattern remains weak due to the oversold scenario in the market.The weekly trading set up suggests 17800 would be the instant obstacle for Nifty.
If it is successful to trade above the same, we can anticipate a pullback rally as much as 17920-18000-18070.
On the other hand, below 17800, the correction wave might continue approximately 17600-17500-17420 levels.
According to exchange information, the foreign institutional financiers were net sellers in the capital market Thursday as they unloaded shares worth Rs 3,818.51 crore.
Brent crude futures, the worldwide oil criteria, rose 0.21 percent to $ 84.50 per barrel.