Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
The rupee firmed up 5 paise to 63.75 against the US dollar in early trade on Tuesday, fresh selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.
Besides, weakness in the dollar against some other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex dealers said.
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Yesterday, the rupee faced a temporary hitch and retracted from its two-year high to close at 63.80 a dollar by tumbling 22 paise after the four-day strong rally lost momentum on sharp recovery of the US currency.
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Meanwhile, the benchmark BSE Sensex rose 70.10 points, or 0.21 per cent, to 32,343.77 in early session on Tuesday.
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