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* The rupee closed at74.13 yesterday little changed, supported by a stronger rupee on the back of rally in the domestic equity market.

* A strong dollar and rising crude prices weighed on the investor sentiment. USDINR hit an intraday high of 74.2260.

* Dollar index, which gauges the greenback’s strength against a basket of sic currencies rose 0.07 percent to 93.04

* Brent crude futures, increased over 3% yesterday, but was seen trading above 0.5% lower at70.65 per barrel in the early morning trade.

* Foreign institutional investors remained net sellers in the capital market on Tuesday to the tune of 1644 crores.

OUTLOOK - USDINR

A close similar to that of Monday suggests indecision, but USDINR did show attempts to push higher, though the day. Favoured view expects such attempts today as well, aiming for 74.27. Inability to clear this region could force a pull back again to the 74 vicinity.

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