Epic Research Update : Indian Rupee
Benchmark indices were trading high, holding on to gains from the morning, with Sensex and Nifty above key milestones.
The Sensex was up 138.52 points at 30081.76, while the Nifty was up 41.40 points at 9348.00. The market breadth was narrow as 1,306 shares advanced against a decline of 1,144 shares, while 124 shares were unchanged.
The Nifty briefly touched 9350-mark, before falling below it as well. The Bank Nifty too gained over half a percent.
ITC, Asian Paints and Hindalco were top gainers on both the indices, while Cipla, Infosys, Bharti Infratel and Power Grid lost the most.
The rupee appreciated 0.45 percent in early trade on Wednesday, tracking rallies in global equity markets. It hit a 20-month high of 63.93, thereby breaching the 64 mark against the US dollar.
The Indian currency opened at 64.16, up from the 64.27 level it closed at on Tuesday. At 10:35 IST, it was trading at 63.98 against the dollar, up 0.45 percent from its previous close.
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