The Indian rupee on Thursday slumped 22ps to 70.08 against the USD in early trade on the back of rising global crude prices. However, new dollar demand from bankers and importers reportedly weighed on domestic currency. The rupee on Wednesday had fallen by 24ps to close at 69.86 against the dollar
At the commodity front, Brent crude rose by 0.04pc to USD74.60/pb. Crude oil prices continue to remain at spiraled level that unhelpfully affects the domestic currency.
Meanwhile, during mid-morning session in the Indian Stock market, the benchmarks Sensex of the BSE was trading 45pts higher at 39,099-level, and the NSE’s Nifty50 advanced 24pts to 11,750-level.
Among stocks, Ultratech, Grasim, YesBank were the top gainers on Nifty while Bharti Infratel, Vedanta and Tata Steel were among top losers.
Most sectoral indices of the NSE were trading in the green with the Nifty Pharma, Nifty Realty index being the top gainer, up 0.77pc, while IT, Auto and Metal indices are trading in the red.
As per provisional data by the stock exchange, it is updated that foreign institutional investors emerged as net buyers in the markets, infusing Rs974.88cr Wednesday,