Rupee Vs Dollar Today: The local unit closed at 73.07 against the greenback
The rupee gained 24 paise against the US dollar on Thursday, December 31, amid positive domestic equities and unabated foreign fund inflows. The domestic unit rose for the sixth straight session to close at 73.07 against the dollar on the last trading day of the year, supported by weak American currency and a rise in risk appetite. At the interbank foreign exchange market, the local unit opened at 73.15 against the dollar and registered an intra-day high of 73.01. It witnessed a low of 73.17. In the opening session, the rupee appreciated by 19 paise to 73.12 against the dollar. It settled at 73.07 against the greenback, registering an increase of 24 paise over its previous close. On Wednesday, December 30, the domestic unit surged by 11 paise to settle at more than a two-month high of 73.31 against the American currency.
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Technically, while the short-term uptrend is intact, markets are showing signs of tiredness as selling pressure is emerging from the highs, said Subash Gangadharan of HDFC Securities. Sunil Shankar Matkar December 31, 2020 / 09:19 PM IST
The market failed to hold on to the 14,000 mark and closed the volatile session on a flat note on December 31, the expiry day for December futures and options contracts, but gained 15 percent for the year 2020.
The BSE Sensex rose 5.11 points to 47,751.33, while the Nifty50 was down 0.20 point at 13,981.80 and formed Doji kind of pattern on the daily charts as closing was near opening levels.
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The charts clearly suggest that the short-term trend is still up but an intraday correction can t be ruled out if the index trades below 13,935.
Representative image.
It was a day of hits and misses as markets closed flat on December 31, the F&O expiry day, after scaling new peaks. The S&P BSE Sensex, which hit a record high of 47,896, closed with marginal gains of 5 points at 47,751, while the Nifty50 surpassed 14,000 for the first time when it touched 14,024 but closed flat with a negative bias.
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Subash Gangadharan of HDFC Securities expects the indices to make new life highs in the coming sessions. Sunil Shankar Matkar December 30, 2020 / 07:11 AM IST
The market gained for the fifth consecutive session and ended at a fresh record closing high on December 29, with support from banking and financial stocks.
The BSE Sensex rose 259.33 points to 47,613.08, while the Nifty50 jumped 59.40 points to 13,932.60 and formed a small bullish candle on the daily charts.
On a daily basis, the Nifty50 closed above the level of 13,900, which is positive for the market and we expect it to stabilise at these levels. Also, it could invite buying at major supports, Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities told Moneycontrol.
Nifty sets sight on 14,000, analysts positive on banking stocks
FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas/File Photo
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IndusInd Bank Ltd was the top percentage gainer on the Nifty
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Indian stock markets today finished at record highs with benchmark index Nifty inching closer to 14,000. Financial stocks led the advance as Nifty ended 0.43% up at 13,932.60, while the benchmark Sensex rose 0.55% to 47,613.08. The Bank Nifty, which is among the few sectoral indices still down this year, has been catching up with the broader market s advance as foreign investors bet that a rebound in economic activity will benefit lenders.