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News Box

Rupee snapped a 4 day winning streak, and drops 8 paise against US dollar.

Psychological level of 73 as well as muted equities were influencers.

FIIs were net buyers in the capital market yesterday to the tune of 666.66 crores, net, while DII pulled out 1287.87 crores.

India’s economic growth surged by 20.1% in the April-June quarter helped by a low base of the previous year.

Equities in Hong Kong rallied early today as Chinese tech stocks rebounded. Nasdaq had edged upto an all time high yesterday.

OUTLOOK - USDINR

USDINR rose to 75.15 as expected yesterday, but as discussed inability to push above the same indicates weakness, which is also confirmed by a revisit of 73 region. We expect a renewed attempt to clear 73.15, but inability to do so and a slippage below 72.9 could extend drop to 72.6, but a collapse of that order is less expected today.

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