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Equity, Commodity Watch; Rupee trend V/s Dollar Today

Markets have gained momentum in the morning session after a flat start and are trading near day’s high, with nifty scaling at 11620-level, up 32 points and the Sensex at 38999-level up 102 points at 10.35am.

The India currency – rupee – in Tuesday’s trade opened a litter slower at 68.56 against the last day’s close of 68.54 per USD. The home currency’s lag comes amid weakness in global rising market currencies. 

The US Dollar has been scaling lower after the Federal Reserve Chair Jerome Powell raised expectations of an interest rate slash later in the month. 

Meantime,  Crude oil prices also scaled for the second consecutive session post China reported sluggish economic growth for the quarter in about three decades time.

Brent crude futures stood 0.1pc higher, at USD66.55/bbl after falling earlier in the session. US WTI crude futures rose by 1 cent to USD 59.59/bbl after falling earlier in the session.