The Indian rupee appreciated 24 paise to trade at day’s high level of 69.10 against the dollar. The domestic unit opened 6 paise higher at 69.28/$ compared to its previous close of 69.34/$.
At 9:50 AM, IST, the home currency was trading at 69.19/$.
The sharp rally in the Indian rupee could be attributed to robust foreign inflows ahead of general elections.
On Thursday’s trading session, FIIs bought 1,483cr worth of stock in cash, whereas DIIs sold 818cr worth of stock. In the derivative market, FIIs bought 485cr of Index futures simultaneously purchased 274cr worth of Index options. In the Stock futures segment, FIIs bought 342cr worth of stock futures and sold 79cr stock options.
Further, equity benchmark indices are all set to witness their longest stretch of weekly gains in over six months
after marking in an opening on a positive note. The Sensex gained 225 points to trade at 37,988 levels and the Nifty gained 72 points at 11,415 levels, struggling to touch its life-time high level of 11,580.