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 made a mild comeback as it recovered 8 paise to 64.55 against the dollar on Wednesday after fresh selling of the US currency amid a higher opening in domestic equities.
A weak dollar overseas supported the rupee, forex dealers said.
Meanwhile, the dollar index fell to a near three-week low on disappointing US housing starts data.
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On April 18, the rupee had lost 11 paise to close at 64.63 on dollar demand from importers as growing geopolitical unrest hastened the flight to safety.
The benchmark BSE Sensex rose 54.45 points, or 0.18 per cent, to 29,373.55 in opening trade on Wednesday.
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