Rupee has shown strength today against the dollar. Against the dollar, the rupee opened with a strength of 12 paise at 78.23 against 78.35. Strong buying in the domestic equity market and weakness in the greenback has shown improvement in investor sentiments.
However, rising crude oil prices and continued selling of FIIs from the Indian equity market restricted the rupee’s gains. However, after opening with an increase, the rupee is seen around 78.27 with an increase of 6 paise against the dollar in early trade.
The rupee had opened at its all-time low of 78.33 against the dollar in the previous trading session. Meanwhile, the dollar index is showing a fall of 0.14 percent at the level of 104.03.
Taking a look at the domestic equity market, Sensex-Nifty started with huge gains today amid good global cues. At present, around 10:20 am, the Sensex is seen at the level of 53,279.06 with a gain of 532.52 points or 1.01 percent. At the same time, Nifty is seen at the level of 15,870.05 with a gain of 170.80 points or 1.09 percent.
Foreign institutional investors continue to sell off the Indian markets. On June 24, foreign institutional investors sold Rs 2353.77 crore in the Indian markets. On the other hand, domestic institutional investors bought Rs 2213.44 crore on this day.
Foreign investors have sold Rs 46,000 crore in the Indian market so far this month. At the same time, so far this year, Rs 2.13 lakh crore has been sold by foreign institutional investors.