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MARKET EYE-USD/INR still weak; Bharti Infratel, reform bills key
December 10, 2012 / 8:48 AM / 5 years ago

MARKET EYE-USD/INR still weak; Bharti Infratel, reform bills key

* USD/INR still weak at 54.35/36 levels versus last 
close at 54.47/48.
* Volumes remain thin as traders on holiday, leading to
volatility on small moves.
* Bharti Infratel IPO, which opens for retail investors on
Tuesday, will be watched for inflows. Dealer expects
'substantial" flows on account of the share sale.
* Bharti Infratel Ltd, the telecommunications tower unit of top
Indian phone carrier Bharti Airtel Ltd, is set to
raise up to $825 million in what would be the country's biggest
initial share offering in two years.
* Parliament will be watched with the Banking Act amendment
bill, a key financial bill, likely to come up for passage.
* USD/INR has multiple resistances between 54.89 and 54.94,
which is an area marked by previous support and resistances and
14-day average.

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