In a rather subdued trading session, the Indian rupee experienced minimal movement against the US dollar, influenced by negative sentiments in the domestic stock market and continuous foreign fund outflows. Closing the day at 83.28 per dollar, the local unit saw a marginal decline of 1 paise compared to the previous close at 83.27.
The US dollar index, measuring the dollar against a basket of six major currencies, showed a slight decrease of 0.01%, reaching 105.58.
On the preceding day, the rupee concluded at 83.27 against the US dollar. Meanwhile, global oil benchmark Brent crude futures exhibited a 0.87% increase, reaching $80.23 per barrel.
On the domestic front, benchmark equity indices witnessed a dip amid diverse global cues. The BSE Sensex retreated by 143.41 points (0.22%) to finish at 64,832.20, while the NSE Nifty 50 recorded a 0.25% decline, closing at 119,395.30.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on the previous day, offloading shares worth ₹84.55 crore, according to exchange data.
In the commodities market, gold and silver prices experienced a decline on the Multi Commodity Exchange (MCX). Gold futures maturing on December 5, 2023, were priced at Rs 59,905 per 10 grams, showing a marginal dip of Rs 125 or 0.21% from the previous close at Rs 60,009.
Similarly, silver futures maturing on December 5, 2023, recorded a drop of Rs 670 or 0.94%, retailing at Rs 70,450 per kg on the MCX compared to the previous close at Rs 71,050.
Gold prices hovered near a three-week low, losing initial safe-haven demand from the Middle East conflict. Investors awaited comments from U.S. Federal Reserve Chair Jerome Powell for insights into interest rates, as reported. Spot gold declined 0.1% to $1,948.39 per ounce, while US gold futures fell 0.2% to $1,953.50, marking the lowest since October 19.
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