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The rupee closed at 59.91 a dollar as contrasted with 60.31 on Thursday. It rose to 59.68, its strongest since July 30, 2013. The appreciation of rupee against the dollar might proceed till decision effects are out, said Naveen Mathur, Associate Director-Commodity & Currencies, Angel Broking.  "The rupee has acknowledged unequivocally in the last few trading sessions, to a great extent because of solid inflow of foreign funds into Indian values on the over of positive slants both on economic front and foreseen political scenario," said Mr. Mathur.  "The Reserve Bank of India RBI spared the day as expansive offers from state-run banks has consumed a significant part of the inflows," said Anindya Banerjee, Currency Analyst, Kotak Securities. Over the close term, "we want a range of 59.70/90 and 60.60/80 on the spot. April is required to keep the rupee in a volatile range, as numerous periods of polls keep the market nervous."  Sensex gains 126 p

After crunching and falling to all time lows for about a year, the Indian stock market has seen nothing less than a miracle in the last fortnight. Now, whether this is a miracle for the tumbling Indian economy or for the ruling Congress led UPA government is still a question. Despite the turmoil caused by the geopolitical tensions over Ukraine, the economic barometer of Indian economy, Sensex, has spurted to all time highs breaching the 22000 point mark. The spurt is being attributed to a slew of positive domestic factors which have ultimately led to the robust inflow of FIIs (Foreign Institutional Investors). The positive sentiment on the Dalal Street is being attributed to the reduction in inflationary pressure, narrowing CAD (Current Account Deficit), and favourable results of the opinion polls. While the Trade Pundits were banking on Modi as the “only hope of the stock market”, the new data have shown that even a stable third front at the Center can propel the economy