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Published on 15/02/2021 4:48:04 PM | Source: Emkay Global Financial Services Ltd

Equities are charged on `risk-on` tone as countries By Rahul Gupta, Emkay Global

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Below are Views On Equities are charged on ‘risk-on’ tone as countries By Mr. Rahul Gupta, Head Of Research-Currency, Emkay Global Financial Services

“Across the globe, equities are charged on ‘risk-on’ tone as countries and regions are rolling out vaccines and easing lockdown restrictions. This optimism has pushed Indian rupee to surge to 72.57, highest level since Mar 3, 2020. The trading range has shifted to 72.00-73 and RBI seems to be comfortable with rupee appreciating below 73 level. This week is a holiday thinned market so fx trading may be uninspiring but RBI intervention will be eyed. The focus will remain on global flash PMIs and Fed minutes and until then 72.50 will act as a strong support in USDINR spot, a break of which can push the spot price towards 72 zone, while 73 will act as an immediate resistance.”

 

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