Rupee extends gains post GAAR deferment; shares rise

Mon Jan 14, 2013 1:51pm IST

A Kashmiri shopkeeper staples together Indian currency notes to make a garland at a market in Srinagar September 3, 2012. REUTERS/Fayaz Kabli/Files

A Kashmiri shopkeeper staples together Indian currency notes to make a garland at a market in Srinagar September 3, 2012.

Credit: Reuters/Fayaz Kabli/Files

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Reuters Market Eye - Rupee extends gains to trade at 54.55/56 vs its previous close of 54.7550/7650 after the government defers implementation of controversial GAAR till April 2016.

The BSE Sensex extends gains to over 1 percent post the news.

Traders say good custodian bank flows are seen hurting the dollar.

They say 54.50 is likely to be the next immediate support which if broken can take the pair to 54.25 levels.

(Reporting by Swati Bhat)

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