Rupee posts highest single-day gain in over five years, closes the day at 72.45 against dollar
The share markets also surged on Friday, with the Sensex jumping nearly 580 points and the Nifty 50 closing over 10,500.
The rupee gained over 100 paise against the dollar on Friday – the currency’s highest single-day gain in more than five years, according to PTI. This followed a reduction in prices of crude oil and reports that the United States may allow India to continue to buy oil from Iran despite American sanctions on Tehran coming into effect from Monday.
The rupee closed the day at 72.45 against the dollar.
The share indices also surged on the back of gains in shares of oil marketing companies, as well as positive cues from other Asian markets. The BSE Sensex closed the day 579.68 points higher at 35,011.65. The National Stock Exchange Nifty 50 ended higher by 172.55 points at 10,553.
The top gainers on the Sensex were Maruti Suzuki, Tata Motors, Vedanta, IndusInd Bank and Adani Ports. Only five stocks lost on Friday – Wipro, Tata Consultancy Services, Infosys, State Bank of India and Sun Pharma.
The stocks which rose the most on the Nifty were Vedanta, Maruti Suzuki, Bharat Petroleum Corporation Ltd, Tata Motors and Adani Ports. The stocks which declined the most were Tech Mahindra, Wipro, Dr Reddy’s Laboratories, Cipla and Zee Entertainment.