scorecardresearchMarket Open: Indices remain steady while the rupee rises in early trade

Market Open: Indices remain steady while the rupee rises in early trade

Updated: 07 Nov 2022, 10:37 AM IST
TL;DR.
The rupee opened at 82.11 versus Friday's closing of 82.44 per US dollar.
The Indian rupee could cross 82 per dollar mark in the fourth quarter and stay above the 80-to-a-dollar mark in 2023-24. (Photo: iStock)

The Indian rupee could cross 82 per dollar mark in the fourth quarter and stay above the 80-to-a-dollar mark in 2023-24. (Photo: iStock)

(ANI) Indian stock indices traded largely steady with positive bias this morning, and the rupee appreciated considerably against the US dollar.

At 9.56 am, Sensex traded at 60,983.33 points, up 32.97 points or 0.054 per cent, whereas Nifty traded at 18,157.05 points, up 39.90 points or 0.22 per cent.

The rupee opened at 82.11 versus Friday's closing of 82.44 per US dollar.

The stock indices put a brake after over two weeks of consecutive rallies as the US central bank Federal Reserve continued raising key interest rates in its fight against the multi-decade high inflation.

It raised the key policy rate by 75 basis points to over a decade high at 3.75-4.0 per cent in its latest monetary policy meeting. Notably, this is the fourth consecutive hike of such magnitude. 

 

First Published: 07 Nov 2022, 10:35 AM IST