Stocks end 2016 with 3% gains; volatility, black swan events dominate
Fresh buying into front line shares and continued covering of short positions helped markets to end higher for the 4th…
After Wednesday's weakness, the Rupee staged a mild recovery of eight paise to 68.16 against the Dollar at the forex market following fresh selling of the US currency by banks and exporters.
Forex dealers said Dollar's weakness against some currencies overseas and a better trend in early trade at the domestic equity market supported the local currency.
The Rupee had lost 18 paise to close at a 4-week low of 68.24 in Wednesday's trade on month-end Dollar demand from importers coupled with sustained foreign capital outflows.
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Meanwhile, the benchmark BSE Sensex was trading higher by 38.76 points, or 0.15 per cent, to 26,249.44 in early trade.
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