USDINR
HAPPY NEW YEAR, Welcome to 2022 first daily projection as well as market update, Major market on holiday on New Year Day, On thin trade We are expecting USDINR commence Monday session between 74.40 – 74.50 levels as US Dollar Index remains pressured around late November levels, close to 95.60, during Monday’s Asian session.
India reported more than 27,000 new COVID-19 cases on Sunday, with infections sharply rising for a fifth consecutive day, but the chief minister of the capital New Delhi said there was no need to panic, citing low hospitalisation rates.
India's Reliance Industries Ltd plans to raise up to $5 billion in dollar-denominated debt and use proceeds primarily to refinance its existing borrowings.
The Mukesh Ambani-owned oil-to-telecoms conglomerate said that the proposal for fixed-rate notes, which could be issued in one or more tranches, was approved by the board in a meeting on Saturday.
Indian shares on Friday locked in their best year since 2017, driven by an economic recovery from the pandemic-led slump and infusion of massive liquidity, even as valuation concerns and a raging new coronavirus variant brought in some caution towards the year-end.
Day Trend: - BUY ON DIP
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