Rupee commenced marginally lower on Thursday following a flat start on the domestic share market. Most of the Asian markets were lower following a dull session on the Wall Street last night over grim economic data and Federal Reserve's downgrade of the US economy. The domestic currency opened at Rs. 46.72 per dollar and traded within a tight range of 46.71-75 so far during the day. The domestic currency was trading flat, unable to get an appropriate direction. However, the slightly positive domestic market and edging up euro against the greenback, weighed down by poor data, supported the rupee. Rupee started slightly weak on Thursday after a strong start to the previous session by almost 25 paise after the benchmark index crosses the 18000-mark level early yesterday. The index however failed to hold on to the level till the end of the day. The key index commenced on Thursday slightly below the level and remained relatively flat however in the green region, positive for the rupee. The BSE 30-share Sensex was up 2.71 points or 0.02%, up close to 65 points from the day's low and off close to 40 points from the day's high. However, global concerns stalled Asian markets from rising. US government data showed retail sales fell more than expected in June for a second straight month. Moreover, sentiments worsened further after the Federal Reserve revealed minutes from a June meeting of its policy-setting Federal Open Market Committee (FOMC), that they are more concerned with the pace of economic recovery and suggested additional measures may be needed to combat a weakening economy. The greenback was under pressure trading marginally lower against the euro as well as yen in Asia on Thursday. Spot rupee opened on Thursday at 46.72 and remained within a narrow range. As per data from CCIL, the local unit hit the day's high at 46.71 and registered an intra day low at 46.74 so far during the day. Rupee was last seen trading at the day's high at 46.71 at 11.18 AM IST, almost flat as compared to its previous closing price at 46.70. In the domestic currency futures market on the NSE, the front month July contract opened on Thursday, at 46.80 per dollar mark, registering a low at around 46.78 and hitting an intra day high at 46.84 so far during the day. Rupee was last seen trading at 46.77, up almost 2 paise or 0.04% as compared to the previous close at 46.80. The contract is expected to find an intra day resistance at 46.84. In the domestic bond market, the yield on most traded 10-year benchmark federal paper, 7.80% GS 2020, eased marginally to 7.62% during the morning trade at around 11.27 AM IST compared to 7.63% at close in the previous trade session. The total trading volume on central bank's gilts trading platform stood at Rs 3435 crore. Meanwhile, in commodities, light sweet crude oil for August delivery was down 15 cents to US$ 76.89 on the GLOBEX division of New York mercantile exchange.

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