Reuters Market Eye - The rupee falls to 51.57/58, after hitting an intraday high at 51.32, on outflows related to a stock stake sale, several dealers say. The pair closed at 51.74/75 on Thursday.
Several dealers cite USD outflows related to Carlyle Group's estimated $841 million stake sale in mortgage lender HDFC(HDFC.NS).
State-run bank dealer tips 51.35-51.75 range for the rest of the session; expects oil bids.
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IAF plane missing
Indian ships and aircraft searched on Saturday for an air force plane that went missing over the Bay of Bengal with 29 people on board the previous day, with no indication what happened to the aircraft or sign of wreckage, the defence ministry said. Full Article