Rupee gains 19 paise against dollar in opening trade

The benchmark BSE Sensex was opened in green, 113.12 points up at 34,411.23 while Nifty was 34.80 points up to trade at 10,574.75. 

On Monday, the markets were recovered from their biggest fall since August. The benchamrk BSE Sensex traded higher by 322.79 points, or 0.95%, to 34,328.55, while the Nifty 50 rose 97.05 points, or 0.93%, to 10,552.

Shares of Rinfra were remainin spotlight today as Competition Commission of India has given its approval for the proposed 100% sale of Reliance Infrastructure’s (RInfra) integrated Mumbai power business to Adani Transmission Limited.

The rupee strengthened by 19 paise to 64.13 against the US dollar in opening trade today aided by stronger domestic equities.

The weakness in dollar against some currencies overseas after US Federal Reserve chairman Jerome Powell said that the central bank would remain alert to risks to financial stability in the wake of recent market rout also supported the rupee's upmove.

The US dollar hit a five-month low against the yen after Japan s economy recorded its longest growth streak in 28 years.

Besides, industrial output grew 7.1 per cent in December and selling of the American currency by exporters supported the rupee, forex dealers said.Forex market was closed yesterday for a public holiday.

On Monday, the rupee had ended 8 paise higher to end at 64.32 against the dollar on fresh selling of the American currency by exporters and banks in line with strong domestic equity market.