Positive Equities Failed To Cheer INR

Published on Dec 11, 2023 17:39

Rupee stayed almost flat and settled 1 paisa lower at 83.39 (provisional) against the US dollar on Monday as investors remained on the sidelines ahead of the Fed Meeting. Strong local equities and lower oil prices failed to support the local unit. The benchmark S&P BSE Sensex ended the session up 102.93 points, or 0.15 percent, at 69,928.53 despite little support from global markets as investors scaled back expectations for a March rate cut by the Federal Reserve. The broader NSE Nifty index settled 27.70 points, or 0.13 percent, higher at 20,997.10 after hitting a record high of 21,026.10 in intra-day trading. The 30-share BSE Sensex edged past the key 70,000 milestone earlier in the day for the first time, buoyed by falling oil prices, return of foreign inflows and sustained inflows from domestic mutual fund investors. On the NSE, USDINR stayed along the flat line at 83.41.