Rupee Falls 16 Paise to 73.77 Against US Dollar in Early Trade amid Muted Domestic Equities

Goenka further added that market participants would look to adjust their positioning across asset classes ahead of the US elections next week. ”We could see some risk on bets being rolled back. The overall mood is likely to be that of caution. Markets would also become less hopeful of a pre-election agreement on fiscal stimulus between the Democrats and the White House,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.16 per cent to 92.91. On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 80.91 points lower at 40,604.59 and the broader NSE Nifty fell 27.65 points to 11,902.70.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 906.93 crore on a net basis on Friday, according to provisional exchange data. Brent crude futures, the global oil benchmark, fell 1.72 per cent to USD 41.05 per barrel.