With Asian stocks retreating on worrying data from China and some consumer diffidence in the holiday season, the emerging market currencies are bound to be under pressure as the flight to dollar strengthens. Markets seem to be worried at the Chinese slow down. The Indian Rupee also is likely to be under pressure as a natural consequence and aided also by the relaxation in import curbs.The Indian stock market will be influenced by the retreat in Asian stocks. Moreover with the Governor of the Reserve Bank of India unlikely to reduce interest rates any soon, despite the pleas of the Finance Minister, the corporate sector has nothing to display forth at this moment. The economic fraternity has also take concerns expressed by the Governor on the scale of NPA in the banking sector. There are qualitative issues too. Overall a day where sellers may outnumber.
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