Losses in the US dollar and a firm start in the domestic share market helped rupee commence stronger by almost 18 paise on the first trading day of the week. Rupee opened on Monday at Rs. 46.65 per dollar, as compared to its previous close at 46.83 on Friday. The domestic currency started on Monday at close to a week high on highly optimistic Asian markets and a rebound in the European unit, close to 1.22 against the greenback.
Fresh buying in index pivotals helped the domestic key benchmark indices strike day's high in morning trade. Positive global cues helped domestic bourses extend gains for the fourth straight session. The BSE 30-share Sensex was up 171.72 points or 1.01%, up 117.93 points from the day's low and off 17.88 points from the day's high.
The Indian rupee opened stronger on Monday at Rs. 46.65 per dollar, higher by almost 0.38% as compared to the previous closing, as per data from CCIL. The domestic unit hit the day's high at 46.57 and registered an intra day low at 46.70 per dollar, so far during the day. The partially convertible currency was last seen trading at 46.61 at 11.18 AM IST, gaining almost 22 paise or 0.47% as compared to previous close at 46.83, registered on Friday.
In the domestic currency futures market, the front month June series on NSE commenced Monday at around Rs. 46.77 against the US dollar. The contract hit an intra day high at 46.77 during initial trades and registered the day's low at 46.65 so far during the day. Rupee on NSE was last seen trading at 46.69, up almost 24 paise or 0.52% as compared to previous close at 46.93. Rupee is expected to face intra day support at 46.62.
In the domestic bond market, the yield on most traded 10-year benchmark federal paper, 7.80% GS 2020, increased by 1 bps to trade at 7.60% at around 11.27 AM IST compared to Friday's close of 7.61%. The total trading volume on central bank's G-sec trading platform stood at Rs 1015 crore. Meanwhile, the second most traded federal paper 8.20 GS 2022 was at 7.97%.
Meanwhile, light sweet crude oil for July delivery rose 88 cents to US$74.66 on the GLOBEX division of New York mercantile exchange.
