RTTN:Indian Rupee Weakens From 5-day High Against US Dollar
The Indian rupee erased its early morning gains against the US dollar in late trading, pulling back to as low as 53.8450 from a 5-day high of 53.3650. Next key levels to watch for the rupee on the upside are 52.80 and 54.45/50 on the downside. The rupee was weighed down by negative equity sentiments and broad dollar advance in offshore trading.
Indian shares fell on concerns over corporate earnings growth. Also, investors kept their positions light ahead of the Dussehra holiday tomorrow and the expiry of October month F&O contracts slated for Thursday. Reversing early gains, the benchmark BSE Sensex ended the session down 83 points or 0.44 percent at 18,710, while the broader Nifty index fell by 26 points or 0.45 percent to 5,691.
