INR opens at 71.82 against yesterday’s close of 71.81 and trade in the range of 71.65 to 71.90. For next few days range will be 71.55 to 72.25 and GDP data could be the next big trigger for INR movement.
The disinvestment program announced by the finance minister is very encouraging and as expected would keep fiscal concerns at bay. Very broadly speaking major issues for equity market seems to be now coming under control with resolution of Zee; support for telecom sector and Yes Bank on the verge of raising capital.
Overnight CNY saw weakness as Trump threatened with tariffs if the deal is not done and the news emerged that US is considering Bill to support Hong Kong protesters.