KEDIA FOREX REPORT 11012009

Kedia Stocks and Commodities

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 Rupee opened 4 paise weak   at 45.7750 on Friday. Renewed demand as well short-coverings of dollar from banks and corporates mainly weighed on the rupee. The decline in the stock markets raised concerns whether overseas investors would continue to pour funds into domestic stocks at the same pace as last year. Bse Sensex was down 75 points on Friday. Dollar was also supported on expectations for an upbeat US payroll data which would point to an improving economy and possibly hasten the US interest rate tightening speculation. Snapping its four-day rally, the rupee fell from its 15-month high and closed 8 paise down at 45.75/76 against dollar. 


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