CSS News     20-Jun-24
Indian Rupee: Gains Capped By Slight Pull-Back In Local Equities

The Indian rupee eased back after a mild uptick in opening trades on Thursday as local equities turn weak after a positive start to the day amid lack of cues from US equities that remained closed on account of a national holiday. The dollar index is also mostly flat in early Asia, not providing any guidance to the domestic currency. On Wednesday, rupee paired its initial gains and settled 1 paisa lower at 83.44 against the US dollar. The Nifty50 and Sensex both hit fresh record highs for the fourth consecutive session before ending on a flat note. The 30-share Sensex ended the session up 36.45 points at 77,337.59 while the broader NSE Nifty index finished down 41.90 points, or 0.18 percent, at 23,516. Data yesterday showed India's Retail sales in May 2024 witnessed a growth of 3% as compared to the sales in May 2023, according to the survey by Retailers Association of India (RAI). Sales in South region were up 4% while sales in North recorded a rise of 2%. RAI also noted that at 6%, Consumer Durables & Electronics and Food & Grocery led the category wise growth trends.

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