Rupee opens 2 paise higher at 67.35 against dollar
NEW DELHI: The rupee advanced for the eighth straight session and opened 2 paise higher at 67.35 against dollar on Friday. Sustained selling of American currency by banks and exporters supported the currency this week.
Meanwhile, the domestic equity market opened on a flat note on Friday following mixed global cues. The 30-share BSE Sensex opened 44.06 per cent, or 0.16 points, up at 28,270.67, while NSE Nifty opened 0.90 points, or 0.01 per cent, up at 8,735.15.
Nirmal Bang Commodities in a research note said, “Rupee is expected to trade with a sideways movement later in the day on Friday. Trading in the expected intraday range of 67.45 – 67.70 is recommended.”
Foreign portfolio investors stood net buyers in domestic equity market on Thursday as they bought shares worth Rs 74.78 crore with gross purchases and gross sales of Rs 5,476.36 crore and Rs 5,401.58 crore, respectively, according to depository NSDL.
The local currency on Thursday closed 10 paise higher at 67.37 against dollar.
According to ICICIDirect.com, the rupee posted yet another session of gains on Thursday supported by a lower than-expected populist Union budget for FY18. Domestic equity markets continued to post higher gains supporting the rupee amid a soft dollar against major currencies.
Government bonds ended higher on Thursday, as the government aimed to maintain fiscal consolidation, outlined in the Union Budget, triggered by hopes of a rate cut by the Monetary Policy Committee next week. The benchmark 6.97% 2026 bond yield fell to 6.40 per cent from 6.43 per cent the previous day.
Meanwhile, the domestic equity market opened on a flat note on Friday following mixed global cues. The 30-share BSE Sensex opened 44.06 per cent, or 0.16 points, up at 28,270.67, while NSE Nifty opened 0.90 points, or 0.01 per cent, up at 8,735.15.
Nirmal Bang Commodities in a research note said, “Rupee is expected to trade with a sideways movement later in the day on Friday. Trading in the expected intraday range of 67.45 – 67.70 is recommended.”
Foreign portfolio investors stood net buyers in domestic equity market on Thursday as they bought shares worth Rs 74.78 crore with gross purchases and gross sales of Rs 5,476.36 crore and Rs 5,401.58 crore, respectively, according to depository NSDL.
The local currency on Thursday closed 10 paise higher at 67.37 against dollar.
According to ICICIDirect.com, the rupee posted yet another session of gains on Thursday supported by a lower than-expected populist Union budget for FY18. Domestic equity markets continued to post higher gains supporting the rupee amid a soft dollar against major currencies.
Government bonds ended higher on Thursday, as the government aimed to maintain fiscal consolidation, outlined in the Union Budget, triggered by hopes of a rate cut by the Monetary Policy Committee next week. The benchmark 6.97% 2026 bond yield fell to 6.40 per cent from 6.43 per cent the previous day.
