Recovering from early loss, rupee gains 73.04 against dollar

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Rupee against dollar: the domestic unit stood at 73.04 against the dollar

Recovering from early losses and continuing its winning streak for the third straight day, the rupee gained 11 peas against the US dollar on Thursday January 14 and stabilized at 73.04 (provisional), supporting sustained inflows. foreigners and the weakness of the US currency. In the interbank forex market, the domestic unit opened at 73.18 and recorded an intraday high of 72.97. He experienced a low of 73.18. In an early trading session today, local unit slipped three points to 73.18 against the greenback. The rupee closed at 73.04, up 11 points from its previous close. As of Wednesday, January 13, the domestic unit stood at 73.15 against the US dollar.

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Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.11 percent to 90.26. According to provisional currency data, foreign institutional investors were net buyers in the capital market as they bought shares worth Rs 1,879.06 crore on a net basis on January 13.

On the domestic stock market front, the BSE Sensex finished 91.84 points or 0.19 percent higher at 49,584.16, while the broader NSE Nifty rose 30.75 points or 0.21 for cent at 14,595.60. “It was a limited session for the market. The weekly expiration of options contracts and mixed activity in global markets kept traders in undecided mode for the day. Following the indecisive candlestick pattern, this would keep the market in a wider trading range between the 14400/49100 and 14700/49900 levels, ” said Shrikant Chouhan, Executive Vice President, Technical Equity Research at Kotak Securities. .

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You have to be specific to the action until the market does not cross the bullish barrier. Above 14700/49900 the Nifty / Sensex would hit the 15000/50500 levels. The Bank-Nifty also survived well above the psychological barrier point of 32,500 which is positive for them and could reach 33,200 in the near term, ” he added.

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Futures contracts on Brent, the world’s benchmark for oil, fell 0.21% to $ 55.94 per barrel.

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