Reuters Market Eye - The rupee rises to 54.18/19 after data shows industrial output jumped 8.2 percent in October, well above Reuters forecast for a 4.5 percent rise. The pair was trading at around 54.24/25 before the data.
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Other markets show more muted reaction, given output data is known for its volatility. Investors also waiting to see the monthly inflation data due on Friday.
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Heavy rains and a landslide in the Himalayan region of Kashmir killed 17 people, police said on Tuesday, as authorities continued working to rescue stranded villagers, with unseasonal rains raising fears of flash floods in the mountainous north. Full Article