Currency market & commodity tips : The currency market & rating agencies will keenly be going to how committed the govt is towards the fiscal prudence.

Today, Nse Sensex started on a cautious note with a negative bias in morning trade on Monday ahead of the Union Budget 2016. The fell down in the index was led by losses in HDFC, ITC, L&T, M&M, Maruti Suzuki & HUL.

The Nifty-50 unlocked flat but was still trading above its critical support level of 7,000, weighed down by losses in consumer durable, capital, goods oil & gas and auto stocks.

Union Budget 2016 is estimated to balance the seventh pay commission, one rank one pension outflow, bank recapitalisation needs, stimulating rural requirement after two years of continuous drought, with the need to show fiscal prudence," told by Murthy Nagarajan.

World wide, the dollar index, which tracks the greenback against a basket of 6 major world currencies, fell 0.09 per-cent to 98.06. Most Asian currencies fell down. The Malaysian ringgit dropped 0.37 per-cent to 4.22 against the USD.

The Korean won declined 0.35 per-cent to 1,242.60 as compared to the greenback. The Thai baht (down 0.28 per-cent), the Indonesian rupiah (down 0.19 per-cent) & the Chinese yuan went (down 0.10 per-cent) too declined in trade.

While the Japanese yen rose by 0.54 per-cent to 113.39 after the US revised its Q4(fourth quarter) GDP growth to 1 per-cent from 0.70 per-cent declared earlier.

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