Sensex and Nifty surged over 1% to all-time highs, driven by buying in IT, tech, and realty stocks. The rupee traded flat at 83.30 against the dollar.
After the US Federal Reserve maintained its benchmark interest rate and signaled rate reduction next year, IT, tech, and realty companies drove the Sensex and Nifty to record highs on Friday.
The rupee opened Friday flat at 83.30 against the US dollar as crude oil prices rose. Forex dealers said foreign cash inflows and a weak greenback offshore bolstered the local unit, while crude oil price recovery weighed on mood.
The rupee opened flat at 83.30 per dollar on the interbank market. Morning trades were tight between 83.32 and 83.29.
Conclusion
The Sensex and Nifty touched record highs on Friday due to strong purchasing in IT, tech, and realty industries. While crude oil prices rose, foreign fund inflows and a weak greenback in global markets kept the rupee unchanged against the US dollar. At 83.30, the rupee opened flat versus the dollar.
