Rupee trades flat at 83.33 against the US dollar
rupee ended 4 paise higher at 83.32. The rupee is likely to have a quiet session on Thursday on account of muted dollar liquidity due to the Thanksgiving holiday in the United States, said Gaurang Somaiya, an FX and rates researcher at Motilal Oswal Financial Services.
But the bias is slightly tilted towards appreciation till next week as IPO inflows could help the rupee amid a soft patch for the dollar, Somaiya added. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Meanwhile, crude oil prices fell sharply overnight, lending support to the rupee.
Brent crude declined 1.29% to $80.90 a barrel, while US West Texas Intermediate crude fell 1.14% to $76.22 a barrel. On the domestic front, the equity market traded flat amid mixed global cues.
Sensex rose by 31.62 points, or 0.05%, to 66,054.86, while Nifty 50 inched higher by 1.60 points, or 0.01%, to 19,813.45. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they sold shares worth ₹306.56 crore, according to exchange data.
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. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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