Rupee falls 2 paise to 83.18 against US dollar The rupee paired its early gains and settled 2 paise lower at 83.18 (provisional) against the US dollar on Wednesday, tracking negative cues from domestic equity markets and a stronger American currency overseas. Softening crude oil prices and some buying by foreign equity investors, however, supported the Indian currency, forex dealers said. On Monday, the rupee closed 4 paise lower at 83.16 against the US dollar. Forex markets were closed on Tuesday on account of Dussehra. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.20 per cent higher at 106.48. Global oil price benchmark Brent crude advanced 0.20 per cent to USD 88.25 per barrel. On the domestic equity market front, Sensex tumbled 522.82 points or 0.81 per cent to settle at 64,049.06. The Nifty tanked 159.60 points or 0.83 per cent to 19,122.15.Foreign Institutional Investors bought equities worth Rs 252.25 crore on Monday, 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.
As part of its association with Ultimate Kho Kho, IndianOil will secure the naming rights for the post-match award, recognising the ‘Attacker of the Match.’ Additionally, IndianOil will also have the naming rights to the league’s exciting powerplay segment, which was dominated by Chennai Quick Guns’ stalwart all-rounder Ramji Kashyap who accumulated a total of 24 skydive points this season.
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(Siddharth Srivastava is Head – ETF Product, Mirae Asset Mutual Fund. The views expressed in the article are of the author and do not reflect the official position or policy of FinancialExpress.com.)