INSUBCONTINENT EXCLUSIVE:
against the previous close of 70.81 to the dollar
The domestic unit, later, gave up gains to settle at 4 paise higher at 70.77, a level not seen since September 27
remains mixed to slightly positiveIn India, astute liquidity management by the RBI along with the recent corporate tax cut and murmurs of
further tax rationalization across various asset classes has made the economic prospects even more attractive
"This has resulted in 'overflowing' inflows from FIIs and has propped up the rupee vs US dollar, notwithstanding the better-than-expected
in October amid positive domestic and global cues
Foreign portfolio investors (FPI) pumped in a net Rs 12,475.7 crore into equities and Rs 3,988.9 crore into the debt segment during October
This translates into a total net investment of Rs 16,464.6 crore in the domestic capital markets."Rupee hits the highest level in five weeks
following record forex reserves and risk on sentiments on hope of the US-China trade deal
ICE Dollar fell to three-month lows along with treasuries and US stocks rose to record highs after an unexpectedly strong US jobs report in
Friday's trade."Near term bias for dollar-rupee remain bearish and could test the level of 70.32, the 100-DSMA which is adjacent to
ascending trend-line formed from July low and find resistance around 71.10," V Sharma, Head PCG - Capital Markets Strategy, HDFC Securities,
said.Meanwhile, BSE Sensex settled 136.93 points, or 0.34 per cent, higher at 40,301.96
The index also hit its lifetime intra-day high of 40,483.21.The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at
11,941.30.The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 97.30
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