The rupee appreciated against the US dollar in opening trade on Friday, supported by a fall in the dollar index and positive domestic equities.
At the interbank foreign exchange, the rupee opened at 77.47 against the dollar, registering a rise of 13 paise from previous close. On Thursday, the rupee had settled at 77.60.
According to Sriram Iyer, senior research analyst at Reliance Securities, the rupee opened stronger against the dollar tracking the overnight weakness in the American currency. A possibility of weaker crude oil prices over the next few sessions and stronger Asian and emerging market peers could also aid sentiments on Friday.
Brent crude futures fell 0.06% to $117.54 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10% lower at 101.72.
On the domestic equity market front, the 30-share Sensex was trading 479.4 points or 0.86% higher at 56,297.51, while the broader NSE Nifty advanced 141.50 points or 0.85% to 16,769.50.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 451.82 crore, as per stock exchange data.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
