PTI

News Highlights

  • The rupee surged 29 paise to close at 74.42 (provisional) against the US dollar on Thursday.
  • Gold prices declined by Rs 98 to Rs 46,688 per 10 gram.

Equity benchmarks indices Sensex and Nifty ended marginally down on Thursday due to losses in Reliance Industries, Bajaj Finance and Maruti as investors remained cautious amid surging Omicron cases.

The 30-share index ended 12.17 points or 0.02 per cent lower at 57,794.32. Similarly, the broader Nifty fell 9.65 points or 0.06 per cent to 17,203.95.

Reliance Industries was the top loser in the Sensex pack, falling nearly 2 per cent, followed by Tata Steel, Maruti, Bajaj Finance, Sun Pharma and SBI.

On the other hand, NTPC, HCL Tech, IndusInd Bank, Titan, Wipro and Dr Reddy's were among the gainers.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended with gains, while Seoul and Tokyo were in the red.

Stock exchanges in Europe were trading on a mixed note in mid-session deals.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 975.23 crore on Wednesday, according to stock exchange data.

Rupee Jumps 29 Paise To Close At 74.42 Against US Dollar

The rupee surged 29 paise to close at 74.42 (provisional) against the US dollar on Thursday following year-end dollar selling by banks and exporters amid muted domestic equities.

At the interbank forex market, the local unit opened strong at 74.56 against the greenback and witnessed an intra-day high of 74.38 and a low of 74.65. It finally settled at 74.42, a rise of 29 paise.

In the previous session, the rupee had settled just one paisa lower at 74.71 against the US dollar.

"Rupee, after Wednesday's pause, started heading north to monthly high on expectation of better inflows going ahead and dollar selling from exporters on year-end. Central bank's remain aside from intervening and technical selling has been seen accelerated in USDINR on breaking of support 74.50," said Dilip Parmar- Research Analyst, HDFC Securities.

On the domestic equity market front, the BSE Sensex ended 12.17 points or 0.02 per cent lower at 57,794.32, while the broader NSE Nifty declined 9.65 points or 0.06 per cent to 17,203.95.

Meanwhile, the dollar index, which measures the greenback's strength against the basket of six currencies, rose 0.26 per cent to 96.18.

Brent crude futures, the global oil benchmark, fell 0.68 per cent to USD 78.69 per barrel.

Foreign institutional investors were net sellers in the capital market on Wednesday, as they offloaded shares worth Rs 975.23 crore, as per exchange data.

Gold Declines Rs 98; Silver Tumbles Rs 699

Gold prices declined by Rs 98 to Rs 46,688 per 10 gram in the national capital on Thursday in line with weak global cues, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 46,786 per 10 gram.

Silver also tumbled Rs 699 to Rs 60,024 per kg from Rs 60,723 per kg in the previous trade.

In the international market, gold was trading lower at USD 1,799 per ounce and silver was flat at USD 22.60 per ounce.

"Gold prices traded lower with spot gold at COMEX trading at USD 1,799 per ounce on Thursday. Gold prices witnessed selling on risk-on sentiment with rise in US bond yields and a stronger dollar," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.

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