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  • The Indian Rupee saw a choppy action in last session but stayed largely supported. The INR gained marginally to end at 74.40 per US dollar. INR hit near 74.30 per US dollar mark in intraday moves. There has been sharp increase in the trade between the US and India, according to an official update. The bilateral merchandise trade between the US and India this year 2021 (January - September 2021), has showed almost 50% growth over the same period in the previous year. The bilateral merchandise trade in the current year is poised to surpass US$ 100 billion mark. The US dollar index held up around a multi month high of 96.90 before easing a bit. Overall mood stayed mixed for INR as overseas investors have been selling the local equities relentlessly in last few days. This has ensured that the domestic equities stay under pressure. However, a deep slide in crude oil prices to six week low has been comforting for the local currency. The domestic equities reversed intraday gains and settled with sharp losses on Wednesday, 24 November 2021. The Nifty ended near 17,400 mark after hitting the days high of 17,600.60 in afternoon trade. Auto and IT stocks tumbled while private banks and oil & gas stocks bucked the trend.

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