Indian rupee opens higher at 64.51 per dollar

100-rupees-noteThe Indian rupee opened higher by 8 paise at 64.51 per dollar on Wednesday versus previous close 64.59.

Pramit Brahmbhatt of Veracity said, “The rupee has seen resistance at 64.50/dollar. The trading range for the spot USD-INR pair is seen between 64.50-64.75 for the day.”

 

The dollar fell to a more than one-week low against a basket of major currencies after US President Donald Trump’s eldest son released an email chain citing Russian support for his father before last year’s US election.

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Nifty to open gap up by 18 points at 9805

nifty-technical-analysis1Dynamic Levels’ Market Outlook:

Market may consolidate at higher levels, stay invested in fundamentally good stocks

 

Indian Market Outlook:

Yesterday, the Indian benchmark Index Nifty made a record high of 9830 and closed at 9786. Infra, power, FMCG, metals and mining and automobiles were among the top sectors.

 

Bank Nifty opened at 23745 and closed at 23585 after making a low of 23553. All the stocks in the banking index were in red last day, except HDFC Bank and Yes Bank. Small Cap made a high of 7636 and closed at 7529 after making a low of 7518. Profit booking has been observed in the Small Cap Index during the second half.

 

Nifty to open gap up by 18 points at 9805 against yesterday’s close of 9787 as per SGX Nifty.