Rupee Dips to 89.73 as FIIs Exit; Sensex Slips in Early Trade
Rupee Dips to 89.73 as FIIs Exit; Sensex Slips in Early Trade
Rupee weakens to 89.73 per dollar amid foreign outflows as Sensex and Nifty retreat on a cautious start to the week.
The rupee opened at 89.67 per dollar but slipped to 89.73 in early trade, down 5 paise from the previous close, as foreign institutional investors pulled back and domestic equities opened on a softer note. The local unit has been hovering in a broad 89-90 band with a slightly wider range of 89.30-89.80 on lackluster cues from global markets. The dollar index was down about 0.2% at 98.08, helping limit sharper losses, while Brent crude hovered around $61.99 per barrel.
On the domestic equity front, the Sensex declined 116.57 points to 85,450.91, and the Nifty slipped 27.15 points to 26,145.25. Foreign institutional investors offloaded equities worth ₹457.34 crore on Monday, underscoring the cautious risk tone ahead of year-end data releases.
In a separate development, negotiations between India and New Zealand concluded on a free trade agreement, presenting a potential boost for textiles, footwear, engineering and marine products with duty-free access in New Zealand.
