Rupee around 53/dollar; NTPC share sale awaited

Reuters Market Eye - The rupee is still up, but trading in range. Pair at 52.99/01 versus Friday's close of 53.19/20. It has traded in a tight 52.9250-53.07 band in session.

State-run bank dealer says selling from custodials absorbed by oil bids, with trading range in 52.85-53.15 band for session.

He estimates $500 million of inflows on account on NTPC's share sale likely on Thursday.

India raised $585 million on Friday through a share sale in Oil India , with 40-50 percent of bids being accounted for by FIIs.

(Reporting by Subhadip Sircar)