INSUBCONTINENT EXCLUSIVE:
Snapping its two-day losing streak, the rupee ticked higher by 23 paise to close at 71.57 per US dollar on Tuesday amid fresh foreign fund
inflows and gains in domestic equities.Forex dealers said investors were cautious ahead RBI's Monetary Policy Committee outcome scheduled
for February 7."Rupee is consolidating in the range, as most of the Asian region's markets shut for Lunar New Year holidays
Near term focus of domestic forex market will be on three-day central bank policy meet, starting Tuesday," said V K Sharma, Head PCG
Capital Markets Strategy, HDFC Securities.At the Interbank Foreign Exchange, the rupee opened stronger at 71.72 a dollar
The local unit moved in a range of 71.55 to 71.80, before finally ending at 71.57, showing a gain of 23 paise.On Monday, the rupee had
plunged by 55 paise to close at 71.80 against the US dollar
Forex traders said sustained foreign fund outflows and surging crude oil prices restricted the rupee up move.Foreign funds purchased shares
worth Rs 420.65 crore on a net basis, and domestic institutional investors bought shares worth Rs 194.31 crore on Tuesday, provisional data
showed.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.13 per
cent at 95.97 ahead of US President Donald Trump's State of the Union address.Meanwhile, brent crude, the global benchmark for oil, was
trading higher at $62.87 per barrel higher by 0.58 per cent
Benchmark equity indices ended marginally higher
The 30-share Sensex ended 34.07 points, or 0.09 per cent, higher at 36,616.81
Similarly, the NSE Nifty edged up 22.10 points, or 0.20 per cent, to 10,934.35.(This story has not been edited by TheIndianSubcontinent
staff and is auto-generated from a syndicated feed.)
