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Major indian stock indices including the Bombay Stock Exchange's SENSEX and National Stock Exchange's NIFTY is trading higher as IT stocks rise on weakening rupee. The 30 component Index is up by 70 points currently at 19,500.20 , whereas broader index NSE's NIFTY is up by 18.80 pts at 5,899.75 .
IT index is up today with almost all IT stocks trading higher, Infosys is up by nearly 1 percent while TCS is up by over 1 percent currently. The other big news coming is from Reliance retail which has forayed into gcash and carry wholesale business thus competing Walmart and Carrefour.
Other bad news for Indian economy perspective is that INR is at record low of 57.76 rupees per USD. Thus increasing worries about the country's current account deficit and complicating the task of the central bank as it tries to loosen monetary conditions to spur an economic recovery.
HAPPY TRADING!!
Major indian stock indices including the Bombay Stock Exchange's SENSEX and National Stock Exchange's NIFTY is trading higher as IT stocks rise on weakening rupee. The 30 component Index is up by 70 points currently at 19,500.20 , whereas broader index NSE's NIFTY is up by 18.80 pts at 5,899.75 .
IT index is up today with almost all IT stocks trading higher, Infosys is up by nearly 1 percent while TCS is up by over 1 percent currently. The other big news coming is from Reliance retail which has forayed into gcash and carry wholesale business thus competing Walmart and Carrefour.
Other bad news for Indian economy perspective is that INR is at record low of 57.76 rupees per USD. Thus increasing worries about the country's current account deficit and complicating the task of the central bank as it tries to loosen monetary conditions to spur an economic recovery.
HAPPY TRADING!!
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