The rupee jumped 16 paise to 76.27 against the US dollar in early trading

The rupee advanced 16 paise to 76.27 against the US dollar in Friday’s opening session, supported by positive domestic stocks and a pullback in crude oil prices.

On the interbank exchange, the Rupee opened at 76.34 against the US Dollar, then gained momentum and touched 76.27, registering a gain of 16 paise from the previous close.

On Thursday, the rupee appreciated 19 paise to close at 76.43 against the US dollar.

On Thursday, the BJP returned to power in Uttar Pradesh and also retained Uttarakhand, Manipur and Goa, while Arvind Kejriwal’s AAP scored a resounding victory in Punjab, winning a three-quarters majority.

According to market experts, the outcome of these national elections will ensure policy continuity and stability, which is important for the market.

Meanwhile, the dollar index, which gauges the strength of the greenback against a basket of six currencies, fell 0.03% to 98.48.

Global benchmark Brent crude oil futures fell 0.13% to $109.19 a barrel.

On the domestic stock market front, the 30-stock Sensex traded 184.13 points or 0.33% higher at 55,648.52, while the broader NSE Nifty was up 41.75 points, or 0. .25%, to 16,636.65.

Foreign institutional investors remained net sellers in the capital market on Thursday as they unloaded shares worth Rs 1,981.15 crore, according to stock market data.

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