On Friday, INR (spot) rupee opened at 46.1050 levels appreciated by 8 paisa due to dollar selling by exporters and capital inflow into the market.
The rupee touched 7 weeks high of 45.970 during the day. However, later it fell to 46.18 and settled at 46.16 up by 3 paisa or 0.05%. Thus, during the week rupee nearly appreciated by 25 paisa or 0.50 percent W/W.
The BSE sensex opened at 18165.49, made intraday high of 18244.56 and settled at 18143.99 down by 29 points or 0.16%.
During Asian equity hours, Sensex supported rupee to appreciate due to capital inflow into the market. But later it dropped on selling pressure in the market. Since many days market showed uptrend but in narrow range on weak global outlook.
OUTLOOK
The Asian equity market opened on mixed note while Japanese market fell on expectation that US will ease monetary policy which made negative impact on Nikkei Index.
The sensex could follow the trend and opening would be lower. Moreover, the dollar index is currently trading on flat note. Germany will release trade balance and current account data which may pressurize dollar to trade low during European hours.
Overall, we are expecting rupee to slightly pressurize against dollar during Asian hours. During the day rupee may trade mixed.
