Market Watch: Rupee to close flat at 73.34 against US dollar, Brent crude stood USD 67.87/bl

The rupee provisionally pared its early losses to close almost flat at 73.34 against the US dollar on Tuesday amid a monotonous trend in the domestic equity markets.

At the interbank forex market, the local unit opened lower at 73.47 against the US Dollar and slipped to the day's low of 73.53. The rupee later reduced losses and finally ended at 73.34, registering a rise of 1 paisa over its previous close of 73.35 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 percent to 90.14.

Brent crude futures, the global oil benchmark, fell 0.66 percent to USD 67.87 per barrel.  Meanwhile, Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they bought shares worth Rs 583.69 crore on Monday, as per provisional data.

On the Indian equity market front, the BSE benchmark Sensex closed 341points lower at 49,162, while the broader NSE Nifty declined 92 points to 14,851 rounded off.

New cases of coronavirus in India fell to 3.29 lakh after 14 days taking the total tally of COVID-19 infections to 2,29,92,517, according to the Union Health Ministry data updated on Tuesday.

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