INSUBCONTINENT EXCLUSIVE:
It witnessed a low of 74.50
In an early trade session, the local unit gained 21 paise to 74.45 against the greenback
eventful day, with Fed policy and Biden's session of Congress
Ahead of both these events, dollar index is showing tentative signs of recovering, however, FII inflows into local stocks are weighing on
tonight's Fed message isn't as hawkish as the market is expecting then we may see a further drop in spot
74.25 is the immediate support, until the spot remains afloat we may see prices moving towards 75 zone amid a severe covid situation,'' he
added.''The rupee's rapid depreciation from 73 to 75 has slowed, reducing the need for RBI intervention in the market
The economic situation has deteriorated, at least in the short term, as the covid-19 cases have impacted employment and development
Purohit, Lead International - Commodities at CapitalVia Global Research Limited.On the domestic equity market front, the BSE Sensex ended
S Hariharan, Head - Sales Trading, Emkay Global Financial Services''Metals and banking sectors in particular have seen renewed long open
interest build-up, while IT sector has lagged in a case of rotation of positioning
Mid-cap out-performance, which is a theme that has been in play for the last 6 months, continues to play out
Nifty/ Sensex closing 211 /789 points higher
Today, the market opened on a strong note and maintained the strong momentum throughout the day following robust buying in banking and
index managed to closed above 50 day SMA mark which is broadly positive for the market
However, intraday chart suggest, market is overstretch and it may take a temporary pause near 14925/ 50100 levels
We are of the view that, the larger texture of the market is positive and ideal strategy should be to buy on dips rather than chasing Nifty
at higher levels,'' he added.According to the exchange data, the foreign institutional investors were net sellers in the capital market on
