Rupee gains 4 paise to 82.29 against US dollar tracking gains in equities

The rupee appreciated 4 paise to 82.29 against the US dollar in early trade on Friday, supported by a weak greenback in the overseas market and positive domestic equities.

Fresh foreign capital infusion in capital markets also strengthened sentiment, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.39 against the dollar, then gained ground to quote at 82.29, registering a rise of 4 paise over its previous close.

The domestic unit was moving in a tight range of 82.39-82.29 in early deals.

In the previous session on Thursday, the rupee jumped 48 paise to close at 82.33 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.23 per cent to 110.35.

In the domestic equity market, the 30-share BSE Sensex was trading 220.59 points or 0.37 per cent higher at 59,977.43. Similarly, the broader NSE Nifty rose 60.50 points or 0.34 per cent to 17,797.45.

Foreign Institutional Investors (FIIs) turned net buyers in the capital markets as they bought shares worth Rs 2,818.40 crore on Thursday, according to exchange data.

Brent crude futures, the global oil benchmark, fell 0.86 per cent to USD 96.13 per barrel.