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Reliance Securities Report
The Indian rupee remained range bound in a choppy trading session but ended the day with gains on Wednesday.
The currency started the day on a weak note after the U.S. dollar rebounded this Wednesday morning after U.S. President Donald Trump called off negotiations with Democratic lawmakers on a coronavirus relief stimulus package.
So risk appetite waned as uncertainty in the markets could continue until the November 3 election which helped the safe haven U.S. dollar.
However, after trading briefly trading weaker, markets were aided by speculative dollar sales on bets that investment flows will pick up in the coming sessions.
The benchmark S&P BSE Sensex and the broader Nifty 50 index rose for the fifth straight session to end 0.77% and 0.66% higher, respectively on Wednesday.
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