A higher opening of the domestic equity market, capped INR's losses today.
- The Indian currency weakened for second straight say today. However, a higher opening of the domestic equity market, capped the rupee's losses today, said forex dealers. Domestic share markets opened on a positive note on Friday, the last trading day of the week. The benchmark Sensex opened at 37,327.16 while the Nifty50 index opened at 11,297.80. Strong global cues lifted the domestic equity indices.
- On Thursday, the rupee had dropped by 27 paise to close at a one-week low of 68.70 against the US dollar.
- On global front, oil prices were steady on Friday, supported by traders placing new hedges in the futures market in anticipation of a decline in U.S. crude inventories, but held back from advancing by the prospect of rising global supplies, said news agency Reuters.
- In foreign exchange, the dollar index against a basket of six major currencies extended its overnight gains and rose to a two-week high of 95.211 before easing slightly to 95.131.
- Foreign portfolio investors (FPIs) sold shares worth a net of Rs 639.87 crore, while domestic institutional investors (DIIs) sold shares worth a net of Rs 340.30 crore on Thursday, provisional data showed. (With Agencies inputs)
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