Rupee extends gains post GAAR deferment; shares rise
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)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- India says Pakistan border clashes "extremely serious and provocative"
- California lawmakers end session with bills on plastic bags, gun control
- EU says could send over 1 bln euros more aid to Ukraine
- Alibaba aims to launch share sale in early September-source
A day after the best economic growth figures in more than two years greeted Prime Minister Narendra Modi's first three months in office, the finance minister on Saturday predicted faster growth to come. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article