USDINR
On Thursday, The Rupee enjoyed correction on oil price under pressure despite Govt. Bond Yields rising, we are expecting USDINR commence session between 74.20- 74.30 levels as the greenback eased off of a fresh 16-month high on Wednesday, while the euro remained on its back foot as investors adjusted central bank tightening odds amid rising pricing pressures, with the U.S. Federal Reserve seen hiking rates as early as mid-2022.
Indian digital payments company Paytm is set to make its stock market debut on Thursday, after its $2.5 billion initial public offerings (IPO), India's largest, was oversubscribed last week.
India must become more self-reliant after the pandemic disrupted supply chains and showed the risks of depending on imports for essential goods, the finance minister.
Indian shares touched their lowest level in about a week on Wednesday, pressured by pharmaceutical stocks and a 2% fall in shares of oil-to-chemicals conglomerate Reliance Industries.
Day Trend: - UPSIDE SELL
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