Foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 9,896.95 crore on a net basis in the cash segment, according to exchange data.
The rupee rose by 2 paise to 83.97 against the US dollar in early trade on Monday due to weakening of the dollar in the international market and fall in crude oil prices.
According to forex traders, the domestic currency got further boost as the country’s foreign exchange reserves hit a new all-time high of USD 704.88 billion on Friday.
However, he said escalation of conflict in the Middle East and FII outflows on Friday capped the sharp gains in the domestic currency.
The rupee opened at 83.96 against the US dollar at the interbank foreign exchange market, up 3 paise from its previous close of 83.99. It later fell 1 paisa to 83.97, up 2 paisa from Friday’s close.
India’s foreign exchange reserves rose by $12.588 billion to a new all-time high of $704.885 billion in the week ended September 27, the Reserve Bank of India said on Friday.
On the domestic stock market front, the Sensex rose 228.16 points or 0.28 per cent to 81,916.61. The Nifty inflation 67.60 points or 0.27 percent to 25,081.30. Both the indices had fallen sharply last week.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.01 per cent to 102.50.
In futures trading, the price of international standard Brent crude fell by 0.44 percent to $ 77.71 per barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 9,896.95 crore on a net basis in the cash segment, according to exchange data.
Rupee flourish 2 paise to 83.97 in early trade
