FINANCE 

Rupee opens on a flat note, rises 5 paise to 75.60 against US dollar in early trade

Rupee opens on a flat note, rises 5 paise to 75.60 against US dollar in early trade

Trading firm USD (US dollar) and higher crude oil prices is helping to rally the Indian rupee, which opens in the green today at 75.60 against the greenback, up by 5 paise from its previous close of 75.68. Trade conditions remain firm in global financial markets with optimism over the progress of Sino-US trade negotiations, Bloomberg says.

Meanwhile, Moody’s is warning that US yield curve could invert soon.

Market breadth

Investors’ preparedness to pounce on small and midcap stocks is causing a session wide crash. The BSE Midcap-Smallcap Nifty shed 117.18 points (1.23 percent) to 11,243.31 points.

Markets’ direction

Reliance Energy shares fall up to 3.49 percent ahead of completion of day one of Rs 1,520 crore IPO; says the debut offer by Reliance Energy Ltd (RELI) is an “unprecedented offering” for Reliance Group to raise funds through a public issue in the initial public offering.

Focus

Early second-quarter earnings reports for banks and other financial sector, the banking capital ratios, household expenditure on gold (by Prime Minister Narendra Modi’s wife) and how Indian gold imports are being impacted after the imposition of new customs duty by the government.

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