“Corporate flows helped the rupee to gain against the dollar,” said Anil Bhansali, head of treasury at Finrex Treasury Advisors. “With overseas investors turning net buyers of local securities the sentiment is also weighing on the rupee. We could see fresh buying interest from oil companies at 79.05 level.”
Kaynes shares plunge 43% from October peak. Is a tactical rebound on the cards or more pain ahead?
Kaynes has plunged 43.5% from its October peak, with Friday’s 12.5% drop marking the steepest single-day decline. Momentum indicators remain bearish, signaling a risk of