paragraph

(PTI) The rupee depreciated 10 paise to 79.88 against the US dollar in opening trade on Wednesday tracking the strength of the greenback in the overseas market and firm crude oil prices.

At the interbank foreign exchange, the rupee opened at 79.83 against the US dollar, then fell to 79.88 against the greenback, registering a decline of 10 paise over the last close.

On Tuesday, the rupee had settled at 79.78 against the American currency.

However, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.16 per cent at 107.02.

Global oil benchmark Brent crude futures advanced 0.13 per cent to USD 104.54 per barrel.

Forex traders said the overnight strength of the dollar, higher oil prices and month-end importers' demand for the dollar are likely to weigh on the domestic unit.

"Investors could refrain themselves from taking large positions ahead of monthly expiry and the US Fed decision in the evening," Sriram Iyer, Senior Research Analyst at Reliance Securities, said.

On the domestic equity market front, the 30-share Sensex was trading 49.34 points or 0.09 per cent lower at 55,219.15 points while the broader NSE Nifty was down 21.90 points or 0.13 per cent to 16,461.95 points.

Foreign institutional investors remained net sellers in the capital market on Tuesday as they offloaded shares worth ₹1,548.29 crore, as per exchange data.

Rupee falls 10 paise to 79.88 against US dollar in early trade

On Tuesday, the rupee had settled at 79.78 against the American currency.

Inflation to be a bigger challenge but Asian economies will still grow: Moody's

Before Market Opens: 9 things to know at 9 am on July 27, 2022

Global growth headed down as inflation surge to endure

Oil Steadies as US Crude Stockpiles Shrink Ahead of Fed Meeting

Global Markets: Google gives jittery stocks a lift ahead of Fed

L&T net profit rises 45% to ₹1,702 crore in April-June

Bajaj Auto net profit falls to ₹1,163 crore in June quarter; chip shortage hits sales

India's GDP projections revised downward to 7.4% for fiscal year 2022: IMF

5G spectrum: Jio, Airtel, Adani pour ₹1.45 lakh crore bids

Apollo Tyres shares hit 52-week high; top brokerages upbeat on stock after Q1

The stock is on a roll after the better than expected June qarter earnings.

Market wrap: Sensex, Nifty extend gains; more than 150 stocks hit 52-week high

stocks

More than 150 stocks, including ICICI Bank, Apollo Tyres, Bank of Baroda, Cholamandalam Investment and Finance Company and Eicher Motors, hit their 52-week highs in intraday trade on BSE.

Why HDFC Sec has a sell call on these 2 retail stocks?

However, in spite of the impeccable quarter, brokerage house HDFC Securities have 'sell' calls on 2 retailers - TCNS Clothing and Bata India. This comes even after both these firms posted robust earnings in Q1.

Gold declines by ₹53; silver slips to ₹256

Gold in the national capital on Wednesday slipped ₹53 to ₹52,340 per 10 grams. Silver also declined ₹256 to ₹57,957 per kg from ₹58,213 per kg in the previous trade.

Sensex at 60k: Bear market rally or a bull run?

Foreign capital inflow, softening crude oil prices, signs of easing inflation and hopes of a less severe rate hike are keeping the market up.