Rupee rises 5 paise to 83.28 against US dollar in early trade
US Federal Reserve could start cutting rates by the first half of next year. Additionally, dovish statements from Fed officials and a mixed batch of economic data from the US will weigh on the dollar," ICICI Direct said in a note.
It expects USDINR Dec to slip to 83.22 level as long as it stays below 83.50 levels. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Brent crude futures, the global benchmark, eased 0.06% to $81.63 a barrel, while US West Texas Intermediate crude futures gained 0.16% to $76.53 a barrel.
On the domestic front, the equity market traded higher amid mixed global cues. The Sensex traded 380.03 points, or 0.57%, higher at 66,554.23, while the Nifty 50 rallied 111.05 points, or 0.56%, to 20,000.75.
Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth ₹783.82 crore, according to exchange data. Catch Live Market Updates here (With inputs from PTI) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
