[ad_1]
A file photo showing a sheet of new Indian rupee notes going through a roller in its final phase of a print run. The rupee gained 6 paise to settle at ₹82.69 (provisional) against the U.S. dollar on Monday as robust buying in the domestic equities and a weak American currency against key crosses overseas boosted investor sentiments. Image for representational purposes only.
| Photo Credit: Getty Images/iStockphoto
The rupee gained 6 paise to settle at ₹82.69 (provisional) against the U.S. dollar on Monday as robust buying in the domestic equities and a weak American currency against key crosses overseas boosted investor sentiments.
However, fresh foreign capital outflows and rising crude prices restricted the rupee’s rise, forex dealers said.
At the interbank forex market, the local unit opened weak at ₹82.80 against the greenback and witnessed an intra-day high of ₹82.57 and a low of ₹82.80.
It finally ended at ₹82.69 against the American currency, registering a rise 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, declined 0.44% to 104.24.
On the domestic equity market front, the BSE Sensex ended 468.38 points or 0.76% higher at 61,806.19, while the broader NSE Nifty advanced 151.45 points or 0.83% to 18,420.45.
Brent crude futures, the global oil benchmark, advanced 1.10% to $79.91 per barrel.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth ₹1,975.44 crore, according to exchange data.
After investing over ₹36,200 crore last month, foreign investors continued their positive momentum and have injected a net ₹10,555 crore in Indian equities so far in December amid stabilisation in oil prices and moderating the U.S. inflation.
Going forward, FPI flows are expected to be volatile amid equity markets worldwide witnessing an increase in volatility as global central banks reiterate their intent to keep policy rates high for an extended period to curb elevated inflation in their respective economies, said Shrikant Chouhan, head of equity research, (retail), Kotak Securities Ltd.
[ad_2]
Source link
