The Indian rupee opened at 59.01 against the US dollar in early trade, as of 11:50 am on Friday as RBI has sent out signals of bullish trend issuing 14-year-old long-term bonds. The rupee closed at 58.03 per dollar on Thursday.
At 11:50 am on Friday, Sensex rose to 24281.33 points gaining 47.18 points. Nifty also increased to 7251.50 points gaining 15.85 points during early trade.
Meanwhile on Thursday, BSE index fell 1.31 percent, which is considered the biggest fall in almost four months. NSE recorded a loss of 0.27 percent, biggest since 13 February.
BSE top gainers on Friday morning, at the time of reporting, are ONGC, HUL, NTPC, Cipla and Tata Steel.
NSE top gainers are HUL, ONGC, Jindal Steel, NTPC and Cipla.
The rupee gained on Thursday last week, when it closed 31 paise higher at 58.47 per dollar, owing to Modi's revelation of a slimmer cabinet.
"Sentiment in the markets has changed as most investors think the equity markets have reached their peak and further upside is limited," said Pramit Brahmbhatt of Alpari Financial Services told Moneycontrol.com. He expects the rupee to extend yesterday's fall as dollar demand from oil importers will dent the rupee movement. "The range of rupee on Friday is seen at 58.50-59.50/USD," he adds.
Meanwhile, Reserve Bank of India (RBI) Governor Raghuram Rajan, in order to bring down high inflation is expecting to join hands with the India's new government. On Thursday, RBI issued 14-year-old bonds in a showcase of strengthening the long-term measures to boos the economy.
