Rupee gains 9 paise to 82.73 against dollar

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Rupee gains 9 paise to 82.73 against dollar

The appreciated 9 paise to 82.73 against the early trading on Thursday, supported by easing and a firm trend in domestic equities.

Foreign fund outflows weighed on investor sentiments and restricted appreciation bias, according to traders.

The domestic unit opened at 82.75 against the dollar, then gained ground to touch 82.73, registering a rise of 9 paise over its previous close.

The rebounded from its all-time low and settled at 82.82 against the dollar on Wednesday.

The dollar index, which measures the strength of the dollar against a basket of six currencies, fell 0.04 per cent to 104.21.

The global oil benchmark, Brent crude futures, rose 0.99 per cent to USD 78.61 per barrel.

The dollar didn't strengthen on dollar persistent bids despite the weakness of the dollar elsewhere in the session. The local unit has been extremely range bound of late, according to the research note from the IFA Global Research Academy.

It said that the rupee is expected to trade in a range of 82.60 -- 82.90 with sideways price action.

In the domestic equity market, the 30 share BSE Sensex was trading 162.86 points or 0.27 per cent higher at 60,820. The NSE Nifty increased by 60.20 points or 0.33 per cent to 18,103, the broader NSE Nifty was up 60.20 points or 0.33 per cent. Foreign Institutional Investors FIIs were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 2,620. According to exchange data, there were 89 crore.