Rupee rises 7 paise to 82.73 against US dollar in early trade The rupee rose by 7 paise to 82.73 against the US dollar on Wednesday amid a positive sentiment in equity markets. Rising crude oil prices and strengthening dollar, however, weighed on the Indian currency, according to forex traders. At the interbank foreign exchange, the domestic unit opened stronger at 82.67 and hit the level of 82.74 against the greenback. Later, the rupee was trading at 82.73 against the dollar, registering a gain of 7 paise from its previous close. On Tuesday, the rupee closed at 82.80 against the US dollar. On the domestic front, GDP numbers will be important to watch and better-than-expected numbers could support the rupee, he said. GDP numbers are scheduled to be released on Thursday. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08 per cent to 103.61. Brent crude futures, the global oil benchmark, rose 0.33 per cent to USD 85.77 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 291.53 points or 0.45 per cent higher at 65,367.35 points. The broader NSE Nifty advanced 78.20 points or 0.40 per cent to 19,420.85 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they bought equities worth Rs 61.51 crore, according to exchange data.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.