Rupee gains 12 paise against US dollar to 54.63.

Indian rupee gained against the greenback in morning trade on Thursday. Rupee was up by 12 paise or 0.22% against USD to Rs 54.63 compared to previous close of 54.75 (09.21 a.m.).

''Two day corrective trend could end at 54.65-54.60 levels and could bounce from there after towards 55.10 levels. Alternatively, a break and close below 54.60 can shift its trend to bearish again. Rupee is looking weaker today after a small dip as India's trade deficit data to be announced today can be higher and weaken the rupee,'' said Emkay Global Financial Services.

In the spot market, the Dollar Index increased 0.06% to 80.60 (22:40 ET).

Euro - USD was trading at 1.30 down 0.09% while USD - Japanese Yen was trading at 88.07 up 0.22% (22:51 ET).

At 09.22 a.m., the Sensex was trading up 98.04 points or 0.50% at 19,764.63 with 25 components gaining. Meanwhile, the Nifty was trading higher by 24.40 points or 0.41% at 5,995.90 with 41 components gaining.


Source :myiris.com