Rupee appreciates 22 paise to open at 82.47 against the US dollar
rupee registering the highest single-day gain and ended 25 paise higher at 82.69 a dollar. Disappointing economic data in the US halted the selloff in the US Treasuries, while the yields dropped, boosting risk appetite.
The US business activity approached the stagnation point in August, with growth at its weakest since February, with demand for new business in the vast service sector contracting, Reuters reported. Meanwhile, crude oil prices declined, supporting the local currency.
Brent crude futures fell 0.35% to $82.92 a barrel, while US West Texas Intermediate crude (WTI) declined 0.43% to $78.55 a barrel. On the domestic front, the Indian benchmark equity indices, Sensex and Nifty were trading higher in the pre-opening session.
On Wednesday, the Foreign institutional investors (FIIs) net bought Indian shares worth ₹614.32 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹125.03 crore, as per provisional data available on the exchanges. Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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