USDINR
On Tuesday, The Domestic unit (Rupee) most likely to commence the session with a weaker note between 74.45-74.55 levels as Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch and global equity markets maintain South Side movement after fell on Monday as investors worried about the potential for renewed U.S.-China trade tensions, stalled talks in Congress and rising inflation as oil prices surged to multi-year highs.
Oil jumped after Reuters reported the Organization of Petroleum Exporting Countries and allies would stick to their current output policy instead of boosting supply more.
Fears of Evergrande default loom, Bloomberg came out with the news suggesting another blow to the Chinese financial markets.
Fantasia Holdings Group Co. didn’t repay a $205.7 million bond that was due Monday, according to a company statement.
Separately, property management company Country Garden Services Holdings Co. said that a unit of Fantasia didn’t repay a 700 million yuan ($108 million) loan that also came due on Monday and that a default was probable.
Day Trend: - BUY ON DIP
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