Market Update: Today rupee posted its biggest single-day gain in nearly a month as custodian banks and corporates sold the greenback aggressively, although broader sentiment remained cautious ahead of key events, including retail inflation later in the day. India is due to post consumer price inflation data later on Friday, with a poll expecting it have eased to 7.80 percent in August from Julys 7.96 percent. Caution also remains ahead of a key week for global risk, with the Federal Reserve set to hold its policy meeting amidst concerns it may move to raise interest rates, while Scotland is due to hold its independence vote. For the week, the rupee fell 0.5 percent, its worst weekly fall since the week to Aug. 1. with the domestic share market in a consolidation phase following a recent string of record highs, most recently on Monday.
Posted on: Fri, 12 Sep 2014 11:57:57 +0000
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