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 recovered by 12 paise to 64.49 against the US Dollar in early trade on Monday on increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.
Besides, the Dollar's weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.
Further, a higher opening in the domestic equity market influenced the Rupee uptrend, they added.
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On April 22, the Rupee had slipped by 5 paise to 64.61 a dollar due to demand uptick for the American currency and persistent capital outflows.
Meanwhile, the benchmark BSE Sensex rose 97.06 points, or 0.33 per cent, at 29,462.36 in early trade on Monday.
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