The MCX -SX May Rupee futures opened stronger at 46.80 but weakened to 47.40 in the first 15 minutes on the back of lower Asian markets. The dollar index, a gauge of the U.S. unit``s performance against majors, was up 0.2 %. Most Asian stock indices were in the red. The Nifty stock futures in Singapore were down 0.8 %, pointing to a lower start in the local shares. The BSE Sensex opened at 13,999, 112 points higher from the previous close, a report published by Commtrendz Risk Management Services said. In the afternoon, the MCX-SX May Rupee futures traded steady between 47.19 - 47.41. At 1:30 pm the MCX -SX May Rupee futures were at 47.345 whereas the BSE Sensex was at 13,863, 136 points lower from its opening rate. Month end demand for dollars from importers was likely to be one of the factors for the fall in the rupee. In the closing trade: The MCX-SX May Rupee futures traded with a downward bias at 47.40 at 4:00 pm. The BSE Sensex closed higher by 26 points at 13,913. Active MCX-SX INR May`09 futures closed at 47.32. Immediate supports are now around 46.85/46.75 followed by 46.40/46.30. Immediate resistance falls around 47.70/47.80 followed by 48.10/48.20 levels. The MCX-SX May`09 Rupee futures registered an open interest of 111,207 for the session. It registered a decrease in volume by 9.40% over its earlier session. MCX-SX June`09 Rupee futures closed towards 47.45.

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