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The rupee extended its retreat from near two-week highs, early on Thursday, tracking weak regional peers and an early drop in the domestic sharemarket which could prompt foreign fund withdrawals.
* At 9:02 a.m. the partially convertible rupee was at 46.06/07 per dollar, weaker than its close of 45.97/98 on Wednesday, when it rose as high as 45.94, its strongest since Jan. 21.
* The U.S. dollar was on a firm footing on Thursday while the New Zealand dollar dived after a sharp jump in unemployment, dragging other growth-linked currencies along with it.
* Most Asian units were weaker compared to the dollar.
* The BSE Sensex was trading down 0.4 percent in initial trade after rising the most in six weeks in the previous session, as weakness in global markets weighed.
* A $1.8 billion share sale in NTPC Ltd, India's leading power producer, was three-quarters subscribed on its first day, with solid institutional interest offset by an anaemic response from retail investors on Wednesday.
* Dollar inflows from the share sale are expected to help the rupee gain.
Don't expect the expected from Dibakar Banerjee.
There is no proposal for government-run State Bank of India to take over any oth...
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