Brent crude oil futures rose 2.54% to $71.44 a barrel.
The rupee fell 14 paise to close at 75.16 (provisional) against the US dollar, tracking a massive sell-off in the domestic stock market amid growing worries about a new COVID variant. In the interbank forex market, the domestic unit opened at 74.98 and registered an intraday high of 74.95 and a low of 75.18 against the greenback in a volatile session. motion.
The local unit finally closed at 75.16 a dollar, down 14 places from the previous close. The dollar index, which measures the greenback’s strength against a basket of six currencies, is trading 0.06% at 96.21.
On the domestic stock market, BSE Sensex ended 764.83 points or 1.31% lower at 57,696.46, while the broader NSE Nifty fell 204.95 points or 1.18% to 17,196.70.
The rupee has been under pressure in recent trading sessions as the discovery of the novel coronavirus variant Omicron stoked growth concerns and dented risk appetite. Besides, the unabated foreign capital inflow has affected investor sentiment, according to traders.
According to exchange data, foreign institutional investors were net sellers in the capital markets on December 2 when they sold off shares worth Rs 909.71 . Meanwhile, Brent crude oil futures, the global oil benchmark, rose 2.54% to $71.44 a barrel.
