Stock Market Closed on 16 Oct 2013-Swings between Gain and Loss

The market breadth, indicating the overall health of the market, is negative. Investors turned cautious ahead of the October 16 deadline to lift the US debt ceiling. Indian financial markets are closed on 16 October 2013, on account of Bakri Id. The rupee edged lower against the dollar.

•  Indian Rupee falls for second day ”Rupee ends at 61.8350/8450 per dlr vs 61.55/56 on Monday Oct 14
• High domestic inflation further hurts rupee sentiment
• Choppy domestic shares; broad dlr rally weighs on local unit
• Asian stocks swung between gains and losses as U.S. lawmakers resumed talks to avoid a default ahead of tomorrow’s deadline to raise the debt ceiling.

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