USDINR
Welcome to X-MAS week, USDINR seems to get resistance above 76.00 mark, we are expecting pair commence Tuesday session with a weaker note between 75.80 – 75.90 levels as greenback hovered below recent highs having lost ground overnight after a blow to Democratic spending plans in Washington, but worries about the Omicron coronavirus variant kept risk currencies in check.
On Monday, Indian shares slumped to a near 4 month low as rising Omicron cases and renewed lockdowns threatened to derail the global economic recovery, while Future Group stocks jumped after the country's antitrust agency suspended a deal with Amazon.com.
The NSE Nifty 50 index closed 2.2% lower at 16,614.20, and the benchmark S&P BSE Sensex dropped 2.1% to 55,822.01. Both the indexes fell as much as 3% earlier in the session.
India's market regulator ordered a year-long suspension of futures trading in key farm commodities on Monday, as the world's biggest importer of vegetable oils, and a major producer of wheat and rice struggles to tame food inflation.
India on Monday allowed imports of refined palm oil until December 2022, the government said in a notification, as the world's biggest vegetable oil buyer tries to bring down edible oil prices.
The Omicron variant of the coronavirus is spreading faster than the Delta variant and is causing infections in people already vaccinated or who have recovered from the COVID-19 disease, the head of the World Health Organization (WHO).
Day Trend: - UPSIDE SELL
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