INSUBCONTINENT EXCLUSIVE:
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
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
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.
