Finance
In early trade on Thursday, the rupee rose 21 paise to 82.62 against the US dollar, supported by broad dollar weakness and a firm trend in domestic equities.
Upbeat domestic trade deficit data and foreign fund inflows, according to forex traders, boosted investor sentiment.
The domestic unit opened at 82.72 against the dollar on the interbank foreign exchange, then rose to 82.62, a 21-paise increase from its previous close.
The rupee closed at 82.83 against the US dollar on Wednesday.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, dropped 0.25 percent to 103.66.
Brent crude futures rose 0.50 percent to USD 85.81 per barrel, the global oil benchmark.
The 30-share BSE Sensex was trading 391.48 points, or 0.64 percent, higher at 61,666.57 in the domestic equity market. The NSE Nifty gained 113.90 points, or 0.63 percent, to 18,129.75.
In January, India’s trade deficit fell to a 12-month low of USD 17.75 billion, as imports fell 3.63 percent year on year to USD 50.66 billion. Exports fell 6.58 percent in January to USD 32.91 billion, compared to USD 35.23 billion the previous year.
According to exchange data, Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday, purchasing shares worth Rs 432.15 crore.
Source:BS
