Indian government's decision to open Foreign Direct Investment (FDI) to many sectors including aviation, retail. Rise in diesel prices and also disinvestment approvals in 5 PSU's sector has cheered Indian market. Indian rupee also appreciated over 2% in last trading sessions, reports industry exports.
“Governments' hard decision will certainly help overcoming fiscal deficit and this is what has cheered Indian market. Response is quite mixed as many think it will improve economy and rest think it will hamper domestic market.Over all there is some strength seen in Indian rupee which recovered almost Rs 1.8 per USD in last few trading sessions.
Currently trading at 53.80 per USD from Rs 55.40 per USD last week.” said Mr Singh from a large brokerage house based in India.
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