The rupee rebounded from its all-time low to shut 5 paise larger at 78.98 (provisional) in opposition to the U.S. greenback on Thursday.
At the interbank foreign exchange market, the native unit opened at 78.92 in opposition to the buck and witnessed an intra-day excessive of 78.90 and a low of 78.99.
It lastly settled at 78.98, an increase of 5 paise over its earlier shut.
The rupee had breached the psychologically important degree of 79 per greenback degree for the primary time ever on Wednesday and has additionally hit a collection of lifetime lows this month.
“The near-term outlook remains bearish for the rupee amid foreign fund outflows and risk-averse moods. Spot USD-INR is having support at 78.38 and resistance at 79.10.”
“Looking at the past few days’ price action, we could see profit booking in the pair before heading higher towards 79.10,” stated Dilip Parmar, Research Analyst, HDFC Securities.
On the home fairness market entrance, the BSE Sensex ended 8.03 factors or 0.02% decrease at 53,018.94, whereas the broader NSE Nifty declined 18.85 factors or 0.12% to fifteen,780.25.
The greenback index, which measures the buck’s energy in opposition to a basket of six currencies, was up 0.06% at 105.16.
Brent crude futures, the worldwide oil benchmark, fell 0.17% to $116.06 per barrel.
Foreign institutional buyers remained internet sellers within the capital market on Wednesday as they offloaded shares value ₹851.06 crore, as per trade knowledge.
Source: www.thehindu.com