Gold Silver Reports (GSR) – Nifty Futures Indicate Stock Losses; TCS In Focus After Strong Q4 — Central bank deputy governor Viral Acharya said he is likely to shift decisively to vote for a beginning of “withdrawal of accommodation” at the June meeting.
The broad consensus remains that RBI will stay on pause on interest rates, but the possibility of a hike is rising fast. Yield on the 10-year note jumped 9 basis points in the last session. For today, it is likely to stay in a range of 7.60-7.67 percent.
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In the currency market, the rupee is set for its steepest weekly decline since early November. If the currency rises beyond 65.88 a dollar, it will be the lowest level for the local unit in over a year. With the dollar index up, implied opening from forwards suggest onshore spot to open at 66.18 rupees a dollar. The pair may trade in a range of 65.80-66.20 in the day.
