Indian Rupee: INR Could Stay Supported On Recovery In Local Stocks

23 May 2022 , 12:46 AM

Indian Rupee is expected to see some buying after the recent selling spree. Key indices advanced during the week, snapping its five-week losing trend. Recovery in Asian stocks boosted sentiment. Chinas central bank cutting the 5-year loan prime rate and easing of Covid-related restrictions also provided a major leg-up to the market. In the week ended on Friday, 20 May 2022, the Sensex gained 1,532.77 points or 2.9% to settle at 54,326.39. The Nifty 50 index advanced 484 points or 3.07% to settle at 16,266.15. The BSE Mid-Cap index rose 691.19 points or 3.17% to settle at 22,506.85. The BSE Small-Cap index rose 1035.54 points or 4.09% to settle at 26,351.29.Powered by Commodity Insights