Rupee higher ahead of GDP, NTPC share sale
Reuters Market Eye - Rupee trading higher. The pair is at 53.09/11 versus 53.155/165 on Wednesday.
The BSE Sensex is down 0.3 percent in opening trades.
Provisional figures show foreign funds bought $213.79 million of equities on Wednesday, ahead of NTPC's share sale.
The floor price for state-run power utility NTPC's share sale, scheduled for Thursday, has been set at 145 rupees, or a 4.5 percent discount to its Wednesday's close, said the company, valuing the sale at about $2.14 billion.
Advance GDP estimates for 2012/13 will be watched for any greenshoots in the economy after recent reform steps.
The rupee will strengthen slightly over the next 12 months, building on recent gains following a series of reforms by the government aimed at bringing its finances under control, a Reuters poll showed.
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Judge rejects strict limits on nurse who treated Ebola patients |
- SEBI piles pressure on Sahara to sell overseas hotels
- China expresses concern about Indian plan to build border posts
- US STOCKS-Dow, S&P 500 end at record highs; BoJ move adds fuel to rally
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article