HomeBusinessRupee rises 37 paise to 81.30 against US dollar; market rebound

Rupee rises 37 paise to 81.30 against US dollar; market rebound

After a positive start, the 30-share BSE Sensex rose 461.82 points to 57,607.04 in early trade.

After a positive start, the 30-share BSE Sensex rose 461.82 points to 57,607.04 in early trade.

The rupee rose 37 paise to 81.30 against the US dollar in early trade on September 27, 2022 as the US currency retreated from its highs.

At the interbank forex, the domestic unit opened higher at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close.

On Monday, the rupee declined by 58 paise to 81.67. had closed at an all-time low of against the dollar.

According to Shriram Iyer, Senior Research Analyst, Reliance Securities, with the relief of the dollar, the rupee strengthened against the dollar.

According to experts, the focus will now be on the RBI meeting this week, whose decision will be taken on Friday.

“Most Asian and emerging market peers have made a mixed start, but a positive opening in equity futures may aid sentiment. The dollar index was marginally weaker, while the euro, sterling and yen traded against the greenback in Tuesday’s morning trade. Got stronger,” Iyer said. Told.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.36 per cent to 113.69.

Global oil benchmark Brent crude futures rose 0.57% to $84.54 a barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 176.91 points or 0.31 per cent higher at 57,322.13 and the broader NSE Nifty was trading 55.95 points or 0.33 per cent higher at 17,072.25.

Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 5,101.30 crore on Monday, according to exchange data.

Market rises after four days of decline

Benchmark indices rose in early trade after falling in the past four sessions amid a partial recovery in Asian markets.

After a positive start, the 30-share BSE Sensex rose 461.82 points to 57,607.04 in early trade. Similarly, the broader NSE Nifty rose 144.15 points to 17,160.45.

ITC, Power Grid, Hindustan Unilever, Infosys, Wipro, ICICI Bank, Nestle and NTPC were the top gainers in the 30-share Sensex pack.

Maruti, Titan, Tata Steel, Reliance Industries and Kotak Mahindra Bank were among the laggards.

Elsewhere in Asia, markets in Tokyo and Shanghai were quoted in the green, while Seoul and Hong Kong traded lower.

US markets closed in negative territory on Monday.

Senior Vice President (Research) Prashant Taapsee said markets are likely to be relieved from the recent corrections and start Tuesday’s session higher, tracking recovery in select Asian indices, even as the overnight gains continue. The declining trend in the US markets continued in the business. , Mehta Equities in its pre-market opening remarks.

“However, markets may continue to remain volatile during the day amid rising risks of a global recession, driven largely by aggressive monetary tightening to suppress inflation across the globe,” Taapsee said.

Meanwhile, international oil benchmark Brent crude climbed 0.54 per cent to $84.51 a barrel.

According to data available with the BSE, foreign institutional investors offloaded shares worth Rs 5,101.30 crore on Monday.

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