Benchmark indices face first weekly decline, steepest in 20 weeks
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
The rupee weakened by 9 paise to 64.65 against the dollar in early trade on Friday at the Inter- bank Foreign Exchange market on increased demand for the American currency from importers and banks.
Dealers said a firm dollar against some global currencies overseas also weighed on the rupee but a higher opening of the domestic equity market capped the fall.
The rupee edged higher by 2 paise against the American unit to close at 64.56 on April 20 trade on emergence of mild selling of the American greenback by banks and exporters.
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Meanwhile, the benchmark BSE Sensex rallied 161.95 points, or 0.55 per cent, to 29,584.34 in early trade.
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