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Wednesday, July 8, 2020

Rupee rises 5 paise to 76.15 amid weak dollar, gains in equity market and foreign fund inf

Where weak US dollar against major currencies overseas helped the domestic unit, rising crude prices and a fresh spike in coronavirus cases restricted the gains
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Indian rupee, the local currency appreciated 5 paise to 76.15 per US dollar on Monday amid gains in the domestic equity market and sustained foreign fund inflows.

Where weak US dollar against major currencies overseas helped the domestic unit, rising crude prices and a fresh spike in coronavirus cases restricted the gains.

The rupee opened strong at 76.16 per dollar and later rose to 76.15 against the US dollar, rising 5 paise over its previous close of 76.20 on Friday.

Meanwhile, the equity benchmark Sensex was trading 421.66 points, or 1.21 per cent, higher at 35,153.39. Similarly, the NSE Nifty surged 122.95 points, or 1.20 per cent, to 10,367.35.

Foreign institutional investors were net buyers in the capital market as they bought shares worth Rs 1,237 crore on Friday, according to provisional exchange data.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.10 per cent to 97.52.

Brent crude futures, the global oil benchmark, rose 0.19 per cent to USD 42.27 per barrel.

India’s COVID-19 death toll rose to 13,699, cases climbed to 4,25,282 with 445 new fatalities and 14,821 fresh infections, according to the health ministry.

Share Market Update: Sensex up 280 points, Nifty at 10,365; Dhanlaxmi Bank, Apollo Hospitals results today

Stocks in the news: Glenmark Pharma, HDFC, HDFC Bank, Cipla, Bajaj Electricals, Cadila and Dhanlaxmi Bank

US stock futures, Asian equities try to shake off second wave virus fears

Glenmark Pharma share hits upper circuit of 15% post launch of first Indian Covid-19 drug

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