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Rupee rises, risk assets gain

Domestic stocks and emerging Asian FX gain after China posted GDP in line with expectations

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Rupee extends rise to 55.38/40 from previous 55.93/94 close. Domestic stocks and emerging gain after China posted in line with expectations, easing worries about a sharp in growth in the continent's largest economy.

The BSE gains 0.4 percent, recovering after two sessions of falls.

Limited impact seen after an official says India's trade deficit is expected to narrow in the fiscal year ending in March from the $184.9 billion posted in the previous fiscal year.

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RBI says open to revisiting priority sector lending norms

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