Indian Rupee: Expected To See Good Start

10 Nov 2022 , 09:22 AM

The Indian Rupee is expected to see a good start today after witnessing good gains in last session. The INR ended up around 40 paise in last session, approaching 81.50 per US dollar mark as traders grew convinced about the US dollar making a short term top after its recent correction from two decade high. Good gains have been seen in other major currencies like Euro and GBP too and emerging market currencies are broadlly supported due to this. INR gained yesterday despite weakness in local equities. Domestic shares ended lower on Wednesday, due to fag-end selling in absence of any major trigger. Negative global cues also triggered selling. After opening at 18,288.25, the Nifty index inched lower as the session progressed and settled at 18,157. Realty, healthcare and pharma shares witnessed selling. However, banks and FMCG shares bucked the trend. The barometer index, the S&P BSE Sensex, declined 151.60 points or 0.25% to 61,033.55. The Nifty 50 index shed 45.80 points or 0.25% to 18,157.Powered by Commodity Insights