A file photo showing a sheet of new Indian rupee notes being fed through a roller in the final stages of a print run. The rupee on Monday gained 6 paise to close at 82.69 (provisional) against the US dollar as strong buying in domestic equities and a weak American currency against key crosses overseas boosted investor sentiment. Image for representational purposes only. , Photo credit: Getty Images/iStockphoto
The rupee on Monday gained 6 paise to close at 82.69 (provisional) against the US dollar as strong buying in domestic equities and a weak American currency against key crosses overseas boosted investor sentiment.
However, fresh foreign fund outflows and rising crude oil prices limited the rupee’s upside, forex dealers said.
in the interbank forex market, The local unit opened weak at ₹82.80. Against the greenback, it saw an intra-day high of ₹82.57 and a low of ₹82.80.
It finally closed at ₹82.69 against the American currency, registering an increase of 6 paise over its previous close of ₹82.75.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.44% to 104.24.
On the domestic equity market front, the BSE Sensex advanced 468.38 points or 0.76% to close at 61,806.19, while the broader NSE Nifty advanced 151.45 points or 0.83% to 18,420.45.
Global oil benchmark Brent crude futures rose 1.10% to $79.91 a barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market on Friday as they sold shares worth Rs 1,975.44 crore, according to exchange data.
After pouring in over ₹36,200 crore last month, foreign investors continued their positive momentum and invested a net ₹10,555 crore in Indian equities so far in December amid stabilization in oil prices and easing US inflation. Have done
Going forward, FPI flows are expected to fluctuate among equity markets across the world as global central banks reiterate their intention to keep policy rates high for an extended period to prevent high inflation in their respective economies. Chief Shrikant Chauhan said. Equity Research, (Retail), Kotak Securities Ltd.