Nifty regains 6200 as rupee nears 62/dollar

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Indian stock markets were moderately higher today as investors remained cautious after strong gains in the previous two sessions. Asian markets were flat today after the recent rally.

The Sensex was up 33 points at 20,883 while Nifty edged up 7 points to 6,196.40. The Nifty had earlier hit 6,210.40 soon after the opening bell. Somil Mehta of Sharekhan said in the short-term the market may see some profit-taking but the medium-term outlook remains positive. For the short-term, the Nifty may remain in the 5800-6200 trading range.

The Indian rupee was higher today with the currency pulling back to 62.12 to a dollar.

Asian markets were flat today with Japan's Nikkei share average stepping back from six-month highs on Tuesday morning.

"Investors have started becoming risk on, but the market has risen too fast so they are staying cautious until there are more cues about Fed's tapering," said Takuya Takahashi, a strategist at Daiwa Securities.

Markets continue to watch out for any clues as to when the U.S. Federal Reserve will start unwinding its $85 billion-a-month stimulus programme, although many in the markets now see any move unlikely until March. (With Reuters Inputs)

NAME - SHYAM KISHOR SINGH
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