Rupee opens 12 paise down at 64.62 against dollar
The rupee opened 12 paise down at 64.62 against dollar on Wednesday on account of selling of American currency by banks and exporters.
Meanwhile, domestic equity markets opened on a flat note following mixed global cues. The 30-share BSE Sensex was trading 20.06 points, or 0.07 per cent, up at 29808.41 in early trade around 9.20 am (IST), while the 50-share NSE Nifty index was up 4.75 points, or 0.05 per cent, at 9,241.75.
Foreign portfolio investors sold shares worth Rs 635.79 crore in domestic equity markets on Tuesday with gross purchases and gross sales of Rs 3773.59 crore and Rs 4409.38 crore, respectively.
The local currency on Tuesday closed 6 paise higher at 64.50 against dollar. Amit Gupta, CEO, TradingBells said, “Tuesday's strength in rupee can be attributed to domestic equity market outperformace as geopolitical uncertainty was weighing on Asian market but markets were under control of bulls. In the near-term, rupee may continue to show its strength and may remain in range of 64.5-64.25 against dollar.”
Government bonds rose for the first time in five days on Tuesday, as investors stepped up purchases after a recent decline in prices. Fall in global yields also supported demand for debt in emerging markets.
The benchmark 6.97% 2026 bond yield fell to 6.81 per cent on Tuesday from 6.87 per cent in the previous session.
Meanwhile, domestic equity markets opened on a flat note following mixed global cues. The 30-share BSE Sensex was trading 20.06 points, or 0.07 per cent, up at 29808.41 in early trade around 9.20 am (IST), while the 50-share NSE Nifty index was up 4.75 points, or 0.05 per cent, at 9,241.75.
Foreign portfolio investors sold shares worth Rs 635.79 crore in domestic equity markets on Tuesday with gross purchases and gross sales of Rs 3773.59 crore and Rs 4409.38 crore, respectively.
The local currency on Tuesday closed 6 paise higher at 64.50 against dollar. Amit Gupta, CEO, TradingBells said, “Tuesday's strength in rupee can be attributed to domestic equity market outperformace as geopolitical uncertainty was weighing on Asian market but markets were under control of bulls. In the near-term, rupee may continue to show its strength and may remain in range of 64.5-64.25 against dollar.”
Government bonds rose for the first time in five days on Tuesday, as investors stepped up purchases after a recent decline in prices. Fall in global yields also supported demand for debt in emerging markets.
The benchmark 6.97% 2026 bond yield fell to 6.81 per cent on Tuesday from 6.87 per cent in the previous session.
