Rupee opens marginally lower at 82.74 against the US dollar
rupee hit the lowest in more than two months before closing at 82.72 against the dollar. “Rupee is likely to appreciate today as US dollar retreated from its 4 week high after fresh economic data from US showed that economy is feeling the heat of aggressive rate hike," ICICI Direct said.
The brokerage expects USDINR to face hurdle near 82.95 level and slip back till 82.50 level. Crude oil prices rose and were set for their sixth week of gains, after Saudi Arabia and Russia pledged to cut output through next month.
Brent crude futures rose 0.09% to $85.22 per barrel, while US West Texas Intermediate crude futures gained 0.18% to $81.70. On the domestic front, the Indian equity benchmark indices , Sensex and Nifty traded higher.
On Thursday, the Foreign institutional investors (FIIs) net sold Indian shares worth ₹317.46 crore, while Domestic Institutional Investors (DIIs) net bought shares to the tune of ₹1,729.19 crore, as per provisional data available on the exchanges. Catch Live Market Updates here (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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