The Rupee closed after a slight recovery as against its opening , tracking the weakness of the US unit globally, because investors were waiting for the July US non-farm payrolls data for cues regarding the timeline for policy normalisation. Additionally, dollar inflows into Indian companies raising capital through various means are also expected to lift the Rupee. Analysts await progress in the US labour market for any implications on rate hike expectations. Krsnaa Diagnostics Pvt Ltd, Windlas Biotech Ltd, Devyani International Ltd and Exxaro Textiles Ltd will launch their offers today to raise a cumulative $485 mln or 36.1 bln rupees. The IPOs will close for subscription on Friday. Gold ended sharply lower on Tuesday as investors stayed on the sidelines focusing on key US jobs data due later this week.......
The US dollar was down against a basket of major currencies in early Asian trade today, as slowing US economic growth and the Delta variant dented risk appetite. Major Asian equity indices were mixed in early trade today as a private survey showed growth in China's services sector sped up in July, while concerns over the Delta variant of COVID-19 continued to weigh. The Caixin/Markit Services Purchasing Managers' Index came in at 54.9 for July, up from 50.3 for June. The market is expected to see further volatility this month as investors assess corporate earnings and comments from US Federal Reserve officials over the next few weeks.......