Rupee at day's high on euro gains
Reuters Market Eye - The USD/INR at day's low, now at 53.24/35 vs 53.47/48 last close, after the euro recovers from prior falls. RBI is believed to have sold dollars in the morning, according to four dealers.
Exporters' stop losses at 53.50 were triggered after RBI's intervention talk, magnifying the losses in USD/INR, dealers said.
Euro now trading at $1.3011/15 after earlier hitting a three-month low at $1.2955.
Local stocks now down 1.3 percent after falling as much as 1.9 percent.
- Tweet this
- Share this
- Digg this
- U.S. nurse quarantined over Ebola calls treatment "frenzy of disorganization"
- Wall Street finally turning on Amazon as Bezos magic fades
- Former Cream frontman Jack Bruce dies aged 71
- São Paulo running out of water as rain-making Amazon vanishes
- Iraqi security forces and Kurds gain ground against Islamic State
The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article