Rupee appreciates by 2 paise to 83.30 against US dollar in early trade The rupee edged up by 2 paise to 83.30 against the US dollar in opening trade on Thursday amid a correction in crude oil prices and gains in local equities. The US currency also weakened against its major global rivals which supported the rupee sentiment despite FII outflows, forex dealers said. At the interbank foreign exchange market, the local unit opened at 83.30 against the US dollar, showing a rise of 2 paise over the last close. The unit had closed at 83.32 on Wednesday. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.17 per cent down at 103.74. On the domestic equity market front, Sensex rose by 145.86 points or 0.22 per cent to 66,169.10 points in early trade. The Nifty50 advanced 48.70 points or 0.25 per cent to 19,860.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they sold shares worth Rs 306.56 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.