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Stock impact report

EMERGING MARKETS-Indian rupee hits 5-1/2-month low on c.bank decision, stocks climb [Reuters]

Wipro Limited (WIT) 
Last wipro limited earnings: 4/16 04:00 pm Check Earnings Report
US:NYSE Investor Relations: wipro.com/investors
Company Research Source: Reuters
By Harish Sridharan Oct 8 (Reuters) - The Indian rupee hit its lowest in five-and-a-half months on Friday, while stocks firmed, after its central bank left key rates unchanged and reiterated the need to unwind pandemic-era stimulus only gradually to aid a nascent economic recovery. Other emerging market stocks in Asia benefited from a rise in global risk appetite as Washington approved a legislation to temporarily raise the debt limit and avert a default. The Reserve Bank of India (RBI) kept interest rates steady at a record low, as expected, and said accommodative monetary policy was needed due to an uneven economic recovery from pandemic-related shutdowns. The RBI's dovishness dashed expectations of investors hoping it would hint at moving towards policy normalisation like some global central banks, with the rupee shedding 0.4% to hit its lowest since late-April. The currency is also under pressure due to spiking crude prices, having declined nea Show less Read more
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