Rupee seen flat to lower; shares watched

The Rupee is set to open steady to slightly lower as Asian cues point towards a slightly weaker opening of the domestic stock market.

The Rupee is set to open steady to slightly lower as Asian cues point towards a slightly weaker opening of the domestic stock market.

HT Image

* At 0259 GMT, the MSCI-index of Asian stocks ex-Japan was up 0.5 per cent while the Nifty India stock futures traded in Singapore was 0.3 per cent lower, suggesting a flat-to-lower start to local shares.

* The index of the dollar against six majors was also flat at 0.03 per cent.

* Last Friday, the partially convertible rupee ended at 46.15/16 per dollar, after hitting 45.97, its highest since June 22 and slightly stronger than Thursday's close of 46.18/19. It gained about 0.5 percent on the week.

* Dealers said they did not see the rupee breaking the 46 per dollar levels soon unless the domestic share market shows signs of bullishness.