Rupee falls 11 paise at 79.56 against US dollar

by IANS |

Mumbai, Sep 2 (IANS) The Indian rupee ended 11 paise lower on Thursday to close at 79.56 against the US dollar.

At the interbank foreign exchange market, rupee ended at 79.56, as against 79.45 close on the previous trading session against the US dollar.

"Rupee opening was flat near 79.53 and gained positive momentum in the early part of the session as capital markets witnessed positive momentum after weak opening giving strength to the Rupee. Strong selling in Crude helped majorly to Rupee as crude prices dipped below $95 in Brent witnessing 3rd of major selling in oil, Rupee found resistance near 79.25 zones as Dollar index positive moves above$109 kept bears active on Rupee," said Jateen Trivedi, VP, Research Analyst at LKP Securities.

Dollar index, which gauges the the strength of greenback against the basket of six major currencies were at 109.037.

Brent crude oil prices were at $93.64 a barrel by the closing of Indian market hours.

Meanwhile, Sensex ended 770.48 points or 1.29 per cent down at 58,766.59, and Nifty closed 216.50 points or 1.22 per cent lower at 17,542.80. Nearly, 1,952 shares have advanced, 1,473 shares have declined and 153 shares remained unchanged.

Reliance Industries, TCS, Sun Pharma, Tech Mahindra, Hindustan Unilever and Infosys were among the major losers on the Sensex.

BSE LargeCap index fell 1.16 per cent, however, BSE MidCap and SmallCap ended 0.57 per cent and 0.48 per cent.

"We expect a range of 79.20 and 79.85 on spot the near term," said Anindya Banerjee, VP, Currency Derivatives and Interest Rate Derivatives at Kotak Securities Ltd.

Latest News
IPL 2024: 'Sai Kishore did not expect I will go after him off the first ball', says CSK's Shivam Dube Fri, Mar 29, 2024, 03:55 PM
Talks with Ukrainian FM focused on conflict with Russia, says EAM Jaishankar Fri, Mar 29, 2024, 03:49 PM
Started my career on shop floor of auto plant: Anand Mahindra to Elon Musk Fri, Mar 29, 2024, 03:42 PM
Chinese military offers help to Pakistan to curb terrorism Fri, Mar 29, 2024, 03:39 PM
Kangana Ranaut holds roadshow in Mandi, responds to Supriya Shrinate's 'bhao' jibe Fri, Mar 29, 2024, 03:36 PM
CPI tries to revive itself by launching ex-IPS officer in UP's Faizabad Fri, Mar 29, 2024, 03:29 PM
Mandya in Karnataka to witness mega clash between Kumaraswamy and Star Chandru Fri, Mar 29, 2024, 03:26 PM
I-T seizes unaccounted cash from Kolkata bizman's office Fri, Mar 29, 2024, 03:24 PM
Byju's EGM on rights issue ends sans objections, dissenting investors skip meet Fri, Mar 29, 2024, 03:12 PM
Anti-abuse provisions should not be used in receipt of capital from credible investors: Experts Fri, Mar 29, 2024, 03:09 PM
UP: Kamaal R Khan's brother to contest from Saharanpur on BSP ticket Fri, Mar 29, 2024, 02:59 PM
Pakistan: Alarm bells ring as judicial bodies gear up to protect their judges against 'targeted assault' Fri, Mar 29, 2024, 02:50 PM
Judicial probe ordered in Mukhtar Ansari's death Fri, Mar 29, 2024, 02:46 PM
Stories come knocking, characters start whispering to me: Filmmaker Rima Das Fri, Mar 29, 2024, 02:45 PM
Magisterial probe ordered into Mukhtar Ansari's death Fri, Mar 29, 2024, 12:52 PM