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On the domestic equity market front, Sensex rose 92.47 points or 0.14 per cent to settle at 66,023.24 points. The Nifty advanced 28.45 points or 0.14 per cent to 19,811.85 points.
At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals.
The recent drop in the value of the Indian rupee might not cause a big change in inflation rate unless the currency falls even more, according to experts. Economists say that the Indian currency would need to drop significantly more than it already has against the dollar for it to affect inflation.
The US dollar index, which measures the greenback against six major global currencies, shot up on Thursday after data showed a higher-than-expected rise in headline inflation in the world's largest economy. The data strengthens the possibility of the Federal Reserve raising interest rates again. Higher US interest rates lead to a stronger dollar, exerting downward pressure on emerging market currencies like the rupee.
The rupee closed at 83.2675 against the U.S. dollar, compared with 83.1850 in the previous session. The local unit weakened beyond its previous record closing of 83.2175 hit earlier this month