Rupee for the front month contract on NSE continues to appreciate on Thursdayregistering the fourth consecutive day of gains after rising to a six week high yesterdaywith positive equities and a weakening dollar supporting the domestic currency gain. TheMarch contract started Thursday higher at Rs 45.81 against the US Dollar as compare to itsprevious closing of 45.93 yesterday. However, the momentum gained early today was lostduring the day owing to sluggish domestic as well as regional markets and dollar was seenstrengthening against the euro overseas.
Rupee for the front month contract on the NSE was last seen trading at 45.88, gainingalmost 0.05 paise or 0.11% from the previous day close of 45.93. The domestic currencyregistered an intra day high of 45.81 and a low of 45.89. Rupee on NSE is expected to findan intra day resistance at 45.94.
Meanwhile, fresh selling pulled the key benchmark indices to the days low in morningtrade. Profit booking emerged after strong gains in the past triggered by the financeminister's pledge to cut fiscal deficit in the Union Budget 2010-2011 late last week. TheBSE 30-share Sensex was down 67.11 points or 0.40%, off 92.06 points from the day's highand up 25.12 points from the day's low. The Sensex fell below the psychological 17,000mark. It had settled a tad above the 17,000 level on Wednesday, 3 March 2010. Asianmarkets were lower.
Spot rupee was last trading at 45.79 against the US dollar at 11.12AM IST as compared to45.84 in the last trading session, gaining 0.05 points or 0.10%, as per the data fromCCIL.
In the domestic bond market, the yield on 10-year benchmark federal paper, 6.35% GS 2020,eased two basis points to trade at 7.92% at around 11.15AM IST, compared to 7.94% at closein the previous trading session.
Meanwhile, light sweet crude oil for April delivery fell 0.28 cents at US$80.59 on theGLOBEX division of New York mercantile exchange.
