US dollar, Indian rupee likely higher, GDP estimates, NTPC share sale

Feb 07 2013, 09:15 IST
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SummaryUS dollar, Indian rupee (USD/INR) likely to gain on overnight euro weakness, Asian stock losses.

US dollar, Indian rupee (USD/INR) likely to gain on overnight euro weakness, Asian stock losses.

The pair closed at 53.155/165 on Wednesday.

* Nifty futures in Singapore trading 0.18 percent lower, while MSCI's Asia-ex Japan index is 0.16 percent down.

* Most Asian currencies are trading with losses. For a snapshot, see.

* Dealers say oil bids and weak shares supporting pair despite substantial inflows.

* Provisional figures show foreign funds bought $213.79 million of equities on Wednesday, ahead of NTPC share sale.

* The floor price for state-run power utility NTPC Ltd's share sale, scheduled for Thursday, has been set at 145 rupees, or a 4.5 percent discount to its Wednesday's close, said the company, valuing the sale at about $2.14 billion.

* Advance GDP estimates for 2012/13 will be watched for possible future policy signals.

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