USDINR
Welcome to pleasant month of November’21. We are expecting USDINR to commence session with a firm note between 74.95 – 75.05 as the dollar index continued to rebound from prior-day losses on Friday after U.S. government bond yields rose on news that the Federal Reserve's preferred inflation measure showed prices continuing to rise faster than its 2% target.
USDINR monthly graph clearly indicates a bullish trend.
Foreign institutional investors have sold $1.17 billion in Indian equities last week. Indian indices finished in the red last week, dragged by banks and IT firms, with heavy outflows from foreign investors adding to concerns of overvaluations.
The blue-chip NSE Nifty 50 index -1.04% to 17,671.65 and the benchmark S&P BSE Sensex -1.1% to 59,306.93. Both the indexes fell for a second straight week, losing more than 2%.
India has proposed new rules to lower emissions and fight climate change, including setting a minimum share of renewable energy to be used by its industries, the federal power ministry.
Day Trend: - BUY ON DIP
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