Rupee settles 4 paise higher at 73.02 against US dollar

Mumbai, Sept 3: The Indian rupee settled with a marginal gain of 4 paise at 73.02 (provisional) against the US dollar on Friday, even as the domestic equities continued their record-setting spree.
At the interbank forex market, the local unit opened at 73.05 against the greenback and witnessed an intra-day high of 73.01 and a low of 73.15.
It finally ended at 73.02 against the American currency, registering a gain of just 4 paise over its previous close.
On Thursday, the rupee had settled at 73.06 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.01 per cent to 92.23.
“Forex markets trading activities were quiet since last two days as investors looked with some uneasiness ahead today’s US labour market report and long weekend as US market will remain closed on Monday on account of Labour Day,” said Dilip Parmar, Research Analyst, HDFC Securities.
Parmar further said that markets followed the path of resistance with higher equities and lower dollar. The rupee marked the second weekly gains on back of stronger inflows and higher equities.
On a weekly basis, the local currency has appreciated by 67 paise against the US dollar.
On the domestic equity market front, the BSE Sensex ended 277.41 points or 0.48 per cent higher at a lifetime high of 58,129.95, while the broader NSE Nifty advanced 89.45 points or 0.52 per cent to close at record 17,323.60.
Brent crude futures, the global oil benchmark, rose 0.53 per cent to USD 73.82 per barrel.
Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 348.52 crore, as per exchange data. (AGENCIES)
Market at new peak: Sensex rallies 277 pts to end
above 58K; Nifty tops 17,300
Mumbai, Sept 3:
Equity benchmark Sensex surged 277 points to close above the 58,000-mark for the first time on Friday, driven by gains in index major Reliance Industries amid a largely positive trend in global markets and sustained foreign fund inflows.
The 30-share Sensex settled 277.41 points or 0.48 per cent up at its lifetime closing high of 58,129.95. It touched an intra-day record of 58,194.79.
Similarly, Nifty advanced 89.45 points or 0.52 per cent to its all-time closing peak of 17,323.60. During the session, it touched a record of 17,340.10.
Reliance Industries was the top gainer in the Sensex pack, soaring over 4 per cent, followed by Titan, Tata Steel, Bajaj Auto, Maruti and Dr Reddy’s.
On the other hand, HUL, Bharti Airtel, HDFC twins and IndusInd Bank were among the laggards.
Domestic equities extended gains mainly led by rebound in metal and automobile stocks. A sharp rise in RIL supported benchmarks, said Binod Modi, Head – Strategy at Reliance Securities.
Notably, barring financials and FMCG, most key sectoral indices ended in the green. Buying remained visible in midcap and smallcap stocks, while volatility index inched up 2 per cent.
“Nifty gained around 3.5 per cent this week mainly led by revival in FIIs flow following dovish commentary from Fed chairman Jerome Powell in Jackson Hole Symposium last week and sustained domestic flows, while around Rs 10 lakh crore was accumulated in investors’ wealth during the week,” he said.
In Asia, bourses in Shanghai and Hong Kong ended with losses, while Seoul and Tokyo were positive.
Equities in Europe were largely trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.51 per cent to USD 73.40 per barrel. (AGENCIES)