From the intra-day perspective, expect Indian Rupee to trade on a mixed note on the back of month end dollar demand from importers coupled with weak economic growth in the country for Q4 of 2013 will act as a negative factor, says Angel Broking.
On a weekly basis, Indian Rupee depreciated by more than 1 percent on the back of dollar demand from oil and other importers. Additionally, Reserve Bank of India (RBI) was spotted buying dollars through state run banks coupled with weak domestic market sentiments exerted downside pressure on the currency.
However, sharp downside in the currency was cushioned due to estimates of measures to be taken by Modi led government to bring down fiscal deficit and fight inflation. The Indian Rupee touched a weekly low of 59.215 and closed at 58.18-level on Friday.
For the month of May 2014, FII inflows totaled at Rs.14006.10 crores ($2354.25 million) as on 30th May 2014. Year to date basis, net capital inflows stood at Rs.45804.20 crores ($7599.20 million) as on 30th May 2014.
India's fiscal deficit narrowed to Rs.5081.49 billion in March as against an earlier deficit of Rs.5992.90 billion in February. Gross Domestic Product (GDP) for the fiscal year of 2013-14 remained unchanged at 4.7 percent. Quarterly GDP declined marginally to 4.6 percent in Q4 of 2013 from 4.7 percent in Q3 of 2013.
Outlook: From the intra-day perspective, we expect Indian Rupee to trade on a mixed note on the back of month end dollar demand from importers coupled with weak economic growth in the country for Q4 of 2013 will act as a negative factor. While on the other hand, expectations of rise in manufacturing data of the country, optimistic fiscal deficit data in March along with upbeat market sentiments will act as a positive factor.
For all recommendations, Click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Anda sedang membaca artikel tentang
Expect Indian Rupee to trade on mixed note: Angel
Dengan url
https://rokokkanker.blogspot.com/2014/06/expect-indian-rupee-to-trade-on-mixed.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Expect Indian Rupee to trade on mixed note: Angel
namun jangan lupa untuk meletakkan link
Expect Indian Rupee to trade on mixed note: Angel
sebagai sumbernya
0 komentar:
Posting Komentar