Rupee ends 4 paise up at 79.84 against US dollar

By Consultants Review Team Tuesday, 06 September 2022

newsThe Indian rupee ended 4 paise up at 79.84 against US dollar on Monday. At Interbank foreign exchange market, rupee ended at 79.84 as against 79.80 against the US dollar on Monday.

"Market participants vary as the central bank's dollar supply at one end limits the downside while the broad-based strength in the dollar pushes the rupee lower. However, one should always keep in mind The trend is your friend -- and any dip in USDINR will be an opportunity to buy as long as it trades above 79 while on the higher side one can expect a rally above 80.10," said Dilip Parmar, Research Analyst, HDFC Securities.

Dollar index, which gauges the the strength of greenback against the basket of six major currencies were at 109.915.

Brent crude oil prices were at $96.21 a barrel by the closing of Indian market hours.

Meanwhile, Sensex ended 442.65 points ot 0.75 per cent up at 59,245.98, and Nifty ended 126.35 points or 0.72 per cent higher at 17,665.80.

About 2,208 shares have advanced, 1,348 have declined and 180 remained unchanged.

SunPharma, ITC, NTPC, Reliance Industries, Larsen and Toubro were major gainers on the Sensex on Monday. BSE LargeCap ended up 0.59 per cent, while BSE SmallCap and MidCap closed 0.89 per cent and 0.46 per cent higher.

"80.00 has been acting as a very strong barrier any close above 80.00 shall provide strong covering towards 80.25/30 levels," said Jateen Trivedi, VP Research Analyst at LKP Securities.

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