The rupee rose 19 paise to 75.97 against the dollar on Tuesday, extending its winning streak to four sessions, as risk appetite increased in response to broader dollar weakness and a robust trend in local equities.

Foreign fund outflows, on the other hand, have stifled increases in the domestic currency, Forex Brokders said. The local currency opened stronger on the interbank forex market at 75.97, but lost some of its gains on the way to a day's low of 76.15. It reached a high of 75.90 during the day.

At 1600 hours, the rupee was trading at 75.97, up 19 paise from its previous close. The rupee had finished at 76.16 versus the US dollar in the previous session. In the meantime, the dollar index, which measures the strength of the greenback against a basket of six currencies, dropped 0.34 percent to 98.71. The global oil benchmark, Brent crude futures, climbed 0.60 percent to $113.15 per barrel.

The BSE Sensex closed the day 350 points higher, or 0.61 percent, at 57,943.65, while the broader NSE Nifty climbed 103.30 points, or 0.60 percent, to 17,325.30. According to stock exchange data, foreign institutional investors were net sellers in the capital market on Monday, selling shares worth RS801.41 crore.

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