INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 74.28 versus the dollarExtending gains for the 2nd straight session, the rupee increased by 6
paise against the US dollar on Tuesday, August 3, to settle at 74.28 driven by sharp gains in domestic equities and a weaker American
At the interbank forex market, the domestic unit opened at 74.36 versus the dollar and registered an intra-day high of 74.21
In an early trade session, the local unit opened on a flat note, inching one paise greater to 74.33 versus the greenback
The rupee closed at 74.28 versus the dollar, registering an increase of 6 paise over its previous close.On Monday, August 2, the domestic
currency settled at 74.34 versus the dollar
According to forex dealerships, the local system is relocating a narrow variety ahead of the Reserve Bank of India's (RBI) policy statement
and the release of the United States non-farm payrolls data on Friday - August 6
The dollar index, which gauges the greenback's strength versus a basket of 6 currencies, decreased 0.07 per cent to 91.98
Worldwide, a weaker than anticipated US manufacturing information and issues over delta alternative spread have raised fears for a pause in
United States economic recovery and consequently pushed Treasury yields lower to 1.151 percent levels
Far provide chains continue to struggle to respond to strong demand due to troubles in employing - maintaining labour and therefore
impacting general development
Most likely, the tasks report due Friday will provide an update on any labour market recovery and additional hints on the Fed's next
steps.Domestically, India's manufacturing activities grew at the greatest speed in the last 3 months suggesting a back on track economy
Investors select to wait for RBI's monetary policy set up on August 6 for supporting evidence for the same.So far rupee has been fairly
resilient on the back of IPO-related inflows regardless of lingering Delta variant issues
However the bottom appears to form near 74.20 levels that the set have appreciated in the previous couple of sessions
As long as this assistance is holding, we can anticipate the recuperate towards 74.80-90 levels, said Mr Amit Pabari, MD, CR Forex.Domestic
Equity Markets Today: On the domestic equity market front, the BSE Sensex ended 872.73 points or 1.65 percent greater at 53,823.36, while
the broader NSE Nifty climbed 245.60 points or 1.55 percent to 16,130.75
During the session today, the Nifty 50 index - moved beyond its mental level of 16,000 for the first time ever as financial signs pointed
towards a faster rate of financial revival
Markets touching perpetuity high is a mix of different elements including global liquidity, good functional efficiency, several sectors and
different federal government assistance schemes
One must not get brought away by the buoyancy in the markets as some indications of tension are visible too.Most noteworthy among them are
the high provisions done by most banks in Q1FY22
A practical technique is to focus on sectors in the markets which are dealing with genuine tailwinds and are still available at affordable
costs, said Ronak Gala, Fund Manager, AlphaQuest by Tarrakki (a leading wealth tech start-up)
Benchmark indices signed up fresh record highs while the Nifty closed above 16000-mark
The intraday rally was mostly supported by Hdfc Ltd, Titan, and IndusInd bank, which got over 3 percent.Technically, on daily charts after a
long time the index has formed a strong breakout formation which is broadly positive for the marketplace
The strong bullish candle light on day-to-day charts plainly recommends additional uptrend from current levels
For the breakout traders, the 16050-16020 levels would be the sacrosanct level to look out, stated Shrikant Chouhan, Executive Vice
President, Equity Technical Research at Kotak Securities.Meanwhile, according to exchange data, the foreign institutional financiers were
net sellers in the capital market on August 2 as they offloaded shares worth Rs 1,539.88 crore
Brent crude futures, the international oil benchmark, increased 0.80 per cent to $ 73.47 per barrel
