Finance
The rupee gained 29 paise against the US dollar on Wednesday, closing at 79.45 (provisional) as heavy buying in domestic equities and persistent foreign capital inflows boosted investor sentiment.
Furthermore, forex traders said that falling crude oil prices and easing inflationary pressures supported the domestic currency.
The local currency opened strong at 79.32 against the US dollar on the interbank forex market, with an intraday high of 79.26 and a low of 79.48.
It eventually closed at 79.45 against the US dollar, up 29 paise from its previous close of 79.74.
The dollar index, which measures the strength of the US currency against a basket of six currencies, increased 0.06 percent to 79.74.
The BSE Sensex finished 417.92 points or 0.70 percent higher at 60,260.13, while the broader NSE Nifty advanced 119 points or 0.67 percent to 17,944.25.
Brent crude futures, the global benchmark for oil, fell 0.6% to USD 92.28 per barrel.
According to exchange data, foreign institutional investors continued to be net buyers in the capital market on Tuesday, purchasing shares worth Rs 1,376.84 crore.
Foreign investors continued to invest in Indian equities after becoming net buyers last month, pumping in Rs 22,452 crore in the first two weeks of August.
Source:IE
