INR EXTENDS GAINS AS NIFTY, SENSEX TRADE HIGHER

Published on Jan 05, 2024 11:32

The Indian rupee is seen extending gains on the back of improved equities despite mixed cues from global markets. The benchmark S&P BSE Sensex rose 269 points, or 0.4 percent, to 72.118 in early trade, while the broader NSE Nifty index was up 83 points, or 0.4 percent, at 21,741. Investors looked ahead to the release of corporate earnings results for the October-December quarter. In the spot market, rupee opened at 83.2350 and climbed to a high of 83.14 so far during the day. Dollar index is staying cautiously above 102 mark awaiting crucial non- farm data later in the global day for further clarity. Overnight data showed ADP US private payrolls increased by 164,000 jobs last month. Initial claims for state unemployment benefits dropped by 18,000 to a seasonally adjusted 202,000 for the week ended Dec. 30, also bolstering the dollar. On the NSE, USDINR futures pair was lower by 0.13% at 83.21.