Published on Fri, Mar 02, 2012 at 08:32 | Source : Reuters
Updated at Fri, Mar 02, 2012 at 09:44
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Rupee seen opening flat; shares watched
The rupee is likely to open little changed on Friday after a muted foreign investor response to the government's share sale in state-run Oil and Natural Gas Corp.
The rupee is likely to open little changed on Friday after a muted foreign investor response to the government's share sale in state-run Oil and Natural Gas Corp.
* The government fell just short of its target in the chaotic $2.5 billion auction of shares in the country's largest oil producer, in a faltering start to revive asset sales to patch its widening fiscal deficit.
* Traders expect the rupee to open around 49.20 to the dollar and move between 48.80 and 49.40 range. It closed at 49.21/22 on Thursday.
* The MSCI index of Asian stocks ex-Japan was up 0.53 percent at 0237 GMT and the Nifty India stock futures index in Singapore rose 0.41 percent.
* The euro was on the backfoot in Asia on Friday, having fallen to one-week lows against the dollar and other currencies in a move seen likely to continue after this week's massive cash injection by the European Central Bank.
