Fresh High for Indian Stocks Masks a Stealth Correction

Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

Good morning, this is Savio Shetty, an equities reporter in Mumbai. The rupee will be the center of attention today after its sudden slump on Friday sparked turmoil across dealing rooms. Focus will be on how policymakers respond to the Indian currency’s drop to a record low. Stocks also ended lower in the last session, with the Nifty snapping a two-day advance amid weak global cues and fading expectations of a Fed rate cut in December. Even so, the benchmark capped a second straight week of gains. Analysts say the near-term tone remains broadly positive as the festival and wedding season is expected to boost demand, with any progress on the US–India trade deal likely to act as a key catalyst.