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 gained 13 paise to trade at fresh 21-month high of 63.98 against the Dollar in early trade on Thursday at the Interbank Foreign Exchange amid sustained selling of the greenback by exporters and banks.
Forex dealers said that apart from weakness in the Dollar against other currencies overseas, robust foreign fund inflows supported the Rupee but weakness in domestic equities in early trade capped the gains.
On April 26, in line with a spectacular rally in equities, the Rupee had surged by 15 paise to close at a near 21-month high of 64.11, energised by positive global cues.
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This was the highest closing for the rupee since August 2015.
Meanwhile, the benchmark BSE Sensex fell hy 32.44 points, or 0.11 per cent, to quote at 30,100.91 in early trade on Thursday.
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