Indian Rupee’s Steady Slide Could Cap Recovery in the $5.4 Trillion Stock Market
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:Happy Tuesday readers. I’m Ashutosh Joshi and I cover equities in Mumbai. A sharp downtrend in key Asian markets ahead of US inflation and jobs data could further drag local equities this morning. Already, persistent foreign outflows and the rupee repeatedly touching new lowsBloomberg Terminal have kept the benchmark Nifty index stuck in a tight range. The weak currency, in particular, has become a near-term hurdle for any rebound in Indian stocks, despite strong economic growth. Soon, attention will shift to December-quarter earnings, where investors are hoping for a stronger showing after last quarter’s middling performance.