''The Indian rupee gained for a second consecutive session on Monday after the ruling party's success in two state elections and the government's removal of diesel subsidies and a hike in natural gas prices sparked hopes for additional reforms,'' said Sushil Finance in its report.

''India's government lifted diesel price controls and raised the cost of natural gas on Saturday, giving market forces greater sway as it seeks to attract energy investment, boost competition and cut subsidy costs. Prime Minister Narendra Modi's Bharatiya Janata Party also made big elections gains in Maharashtra and Haryana, an endorsement likely to encourage him to step up the pace of economic reforms,'' it said.

''USDINR is likely to trade on the positive note on the back of global worries and widening trade deficit,'' it opined.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.