Gold Silver Reports (GSR) – Rupee Seen Opening Lower Against Dollar – Indian rupee is likely to remain under pressure in today’s session as surging oil prices weigh on the nation’s economy after Prime Minister Narendra Modi’s Bharatiya Janata Party failed to form a government in Karnataka.
Developments in Karnataka may adversely impact rupee as it adds to political risk premia in a pre-election year, Kotak Securities said in a note. However, it being a state election, the impact may not last beyond a couple of a trading sessions, Kotak said, expecting the rupee to trade in a range of 67.70 and 68.50 levels on spot for this week.
Bond markets faces another heavy supply week with states to sell Rs 8,750 crore of bonds Tuesday, central government to sell Rs 15,000 crore of T-bills on Wednesday and Rs 12,000 crore of bonds on Friday.
Bulk Deals, F&O Cues And Listing To Watch!
Bulk Deals
✅ Welspun Enterprises: Promoter Balkrishan Goenka Welspun Group Master Trust bought 14.11 lakh shares or 1 percent equity at Rs 178.5 each.
✅ Manali Petrochemicals: KIFS Enterprises bought 10 lakh shares or 0.6 percent equity at Rs 44.69 each.
✅ Max Ventures: Indgrowth Capital Fund I bought 5.37 lakh shares or 0.7 percent equity at Rs 74.7 each.
✅ Kaveri Seeds: Ashoka PTE sold 6.60 lakh shares or 1 percent equity at Rs 500.13 each.