Foreign institutional investors were net sellers in the capital market as they closed shares worth ₹ 1,494.49 crore as per exchange data on Monday.
The rupee strengthened 32 paise to close at 72.93 (provisional) against the US dollar on Tuesday due to positive domestic equity in the foreign currency and the weakening of the US currency.
In the interbank foreign exchange market, the local unit opened against the greenback at 73.16 and saw an intra-day high of 72.91 and a low of 73.25.
It eventually ended at 72.93 against the US currency, registering an increase of 32 paise at its previous closing.
The rupee had closed at 73.25 against the US currency on Monday.
The dollar index, which estimates the strength of the greenback against a basket of six currencies, fell 0.37% to 91.96.
“The dollar index traded as high as 73.00, while the dollar index has seen some upside in the past few days. The dollar index is trading at around $ 92.4 per dollar, with participation in the stable financial market, the Indian Gives positive momentum to the rupee. ” Trivedi, Senior Research Analyst at LKP Securities.
Mr. Trivedi further said that the business can be seen between 72.70-73.15 with the rupee going forward.
Meanwhile, global oil benchmark Brent crude futures rose 0.59% to $ 68.64 a barrel.
On the domestic equity market front, the BSE Sensex rose 584.41 points, or 1.16%, to close at 51,025.48, while the broader NSE Nifty rose 142.20 points, or 0.95%, to 15,098.40.
Foreign institutional investors were net sellers in the capital market as they closed shares worth ₹ 1,494.49 crore on Monday as per exchange data.