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The Indian rupee is likely to come under pressure in opening trades on Tuesday as investors react to mixed global cues and key inflation and industrial output data released after market hours on Monday. India's industrial output growth declined to a 5-month low of 4.2 percent in June. Meanwhile, retail inflation slowed in July to 3.54 percent, its lowest in nearly five years as food prices eased from previous highs due to a base effect, government data showed. On Monday, INR consolidated in a narrow range and settled for the day lower by 2 paise at 83.97 against the US dollar. Indian stock indexes Sensex and the Nifty50 ended marginally down on Monday. Stocks in the domestic market fell in reaction to U.S. short-seller Hindenburg Research's allegations that market regulator SEBI's chairperson had stake in some obscure offshore entities used in the alleged Adani money siphoning scandal. The BSE benchmark Sensex, which rallied to 80,106.18 from an early low of 79,226.13, ended the session at 79,648.92 with a loss of 56.99 points or 0.07%. The broader Nifty50 of the National Stock Exchange settled with a loss of 20.50 points or 0.08% at 24,347.00. The index scaled a low of 24,212.10 and a high of 24,472.80 intraday. Powered by Commodity Insights
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