Rupee opens 13 paise higher at 83.02 as US dollar retreats
rupee slumped 20 paise to end at a record closing low level of 83.15 a dollar. US July industrial production, retail sales and housing data pointed to a sound beginning to the third quarter.
Resilient US economic data has made investors worried that US interest rates are likely to remain high for longer and that policymakers may not be done with hikes, Reuters reported. Meanwhile, crude oil prices rose.
Brent crude futures rose 0.07% to $84.18 a barrel, while US West Texas Intermediate crude (WTI) gained 0.26% to $80.60 a barrel. On the domestic front, the Indian equity benchmark indices, Sensex and Nifty were trading lower in the pre-opening session.
On Thursday, the Foreign institutional investors (FIIs) net sold Indian shares worth ₹1,510.86 crore, while Domestic Institutional Investors (DIIs) net sold shares to the tune of ₹313.97 crore, as per provisional data available on the exchanges. Catch Live Market Updates here (With inputs from Reuters)Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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