INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 75.52 against the dollarContinuing its losing streak for session in a row, the rupee compromised
by 16 paise against the US dollar on Tuesday, October 12, tracking a stronger American currency and company crude oil rates
At the interbank forex market, the domestic unit opened at 75.41 and registered an intra-day high of 75.16
It witnessed a low of 75.66
In an early trade session, the regional system slipped 6 paise to 75.42 against the greenback.On Monday, October 11, the regional system
declined by 37 paise to close at a 15-month low of 75.36 versus the US dollar
The dollar index, which assesses the greenback's strength against a basket of six currencies, was trading 0.02 percent up at 94.33
What experts sayAnindya Banerjee, DVP, Currency Derivatives - Interest Rate Derivatives at Kotak Securities Limited: The USDINR spot closed
16 paise greater at 75.51, the greatest level because July 2020, in a volatile session of trading
There might have been intervention from RBI at higher levels, combined with bumpy business flows which pressed rates lower however
increasing oil prices and firming United States bond yields kept bids alive
Over the near term, predisposition stays up
Mr Amit Pabari, MD, CR Forex: Rupee has been toiled with the double whammy result of elevated petroleum rates and a strengthened dollar
Energy crunch across the Asia to Europe belt have actually resulted in sharp rise in oil costs and restored concerns of hot-steaming
Being India importing almost 80 percent of its oil requires, high costs result in increased imported inflation thus putting rupee under
pressure.Going ahead, investors will key an eye on India's September CPI Inflation numbers and the Industrial Output for August due today
for additional drive in rupee
The only positive for rupee stays the upcoming IPO by almost 35 companies seeking to raise roughly Rs 800 billion from Oct-Dec
On other side, the roofing of 75.50-75.60 is functioning as a stiff resistance, if broken then we could see a relocation towards 75.80 to
76.00 levels over the near term
It will be watchful to see whether RBI intervenes to safeguard rupee beyond these levels or not
Domestic Equity Markets Today: On the domestic equity market front, the BSE Sensex ended 148.53 points or 0.25 percent greater at
60,284.31, while the wider NSE Nifty climbed up 46.00 points or 0.26 percent to 17,991.95
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Limited: It was a volatile session for the markets but bulls gained
strength in late trades as Nifty when again breached the 18,000 mark prior to ending a little bit lower listed below the psychological mark
On everyday and intraday charts, Nifty has formed an appealing higher bottom formation
The intraday structure recommends 17850 might be the pattern decider level for the bulls
Above the exact same, the uptrend formation is most likely to continue as much as 18050-18125 levels
According to exchange information, the foreign institutional investors were net sellers in the capital market on October 11 as they
unloaded shares worth Rs 1,303.22 crore
Brent unrefined futures, the global oil benchmark, advanced 0.29 percent to $ 83.89 per barrel.
