According to Free Nifty Tips expert says Between rupee strengthening and mixed in Asian markets, the Indian stock market opened in the green mark on Wednesday. The Sensex is currently trading at 36480 with the strength of 130 points. On the other hand, the Nifty remained above the 10950 with the strength of 50 points. The market is getting strong support from buying in FMCG and banking stocks. At the same time, there is pressure in the IT stocks firmly in the rupee.
R-Com breaks up to 8%
Reliance Communications (RCom), owned by Anil Ambani, is seeing a huge drop in the stock. Indeed, the spectrum deal between RCom and Mukesh Ambani's Reliance Jio Infocom has been reported by the telecom department, which has seen a huge sell-out in the stock. If this happens then it would be a big setback for RCom. Geo wrote a letter to the Telecom Department (DoT) seeking assurance that he will not be held liable for the past dues related to RCom's spectrum. After this, the DoT has notified the deal as per the guidelines.
Riches at $ 69.94 / dollar with the strength of 50 paise
Free Nifty Tips says The rupee on Wednesday rose 50 paise to close at around 70 dollars a dollar. Due to the rising foreign fund inflow, softening of crude prices and exporters and banks have been seeing this strength in rupee due to selling in dollars. Apart from the US Federal Reserve's meeting, the rupee is also getting support from weaknesses in some overseas corporations. The rupee opened at 70.05 against the dollar and soon reached the level of 69.87 dollars per dollar.
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