With a global selloff over concerns of the US Federal Reserve's bond-buying tapering impacting the currencies of several emerging markets, the rupee has been the worst performer since Thursday.
Domestic equity markets are likely to see volatility in a range-bound trade this week amid geopolitical worries and growing expectations of a sharp hike in interest rates, analysts said. Global trends, inflation data and the last batch of quarterly earnings will drive the markets this week, they said. Besides, the rupee movement, FII investment pattern and Brent crude trends would also be watched by investors.
The Indian rupee on Thursday appreciated by 12 paise to end at 66.71.
Sensex under pressure as Yellen signals rate hike; banking stock slip.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
The RBI is widely expected to raise its key repo rate by 25 basis points to 8.00 per cent on Wednesday, its third such hike in four months after recent data showed both wholesale and retail inflation at multi-month highs.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
The robust export performance, coupled with a compression of imports led by gold, has led to a substantial narrowing in the current account deficit to comfortable levels.
In December, Aisha Shah was named as Partnerships Manager at the White House Office of Digital Strategy.
The 30-share Sensex ended 56 points lower at at 20660 levels and the 50-share Nifty scrapped 14 points at 6155 levels.
Market participants said expectations of a rise in interest rates by the RBI and US Fed's comments on its stimulus programme are likely to keep the market nervous in the week ahead.
The precious metal spurted to regain Rs 27,000 level after June 24 as it rose in global markets following Federal Reserve Chairman Ben S Bernanke backed sustained stimulus for the for some time.
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