On the domestic equity market front, the BSE Sensex ended 303.35 points or 0.56% lower.
On the domestic equity market front, the BSE Sensex ended 303.35 points or 0.56% lower.
The rupee on Wednesday closed 3 paise higher at 77.54 (provisional) against the US currency in restricted trade, as intervention by banks supported the local unit, while a stronger dollar in overseas markets limited gains.
In the interbank forex market, the rupee opened at 77.54 against the greenback and moved in a range of 77.44 to 77.57 in the day’s trade.
The rupee eventually settled higher at 77.54 against the US currency, up 3 paise from its previous close of 77.57 against the US currency.
“The rupee traded on a range fight among hedgers with pendulum swing as bank participants tried to support the rupee, while dollar remittance takers bought the rupee evenly keeping it between 77.47-77.60. US Fed statement minutes later may give some trend overnight. USDINR pair in futures,” said Jatin Trivedi, VP Research Analyst, LKP Securities.
On the domestic equity market front, the BSE Sensex ended 303.35 points or 0.56% lower at 53,749.26, while the broader NSE Nifty ended 99.35 points or 0.62% lower at 16,025.80.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.36% to 102.22.
Foreign institutional investors were net sellers in the capital markets on Tuesday as they sold shares worth ₹2,393.45 crore, according to stock exchange data.
Global oil benchmark Brent crude futures rose 1.26% to $114.99 a barrel.