According to reports, investors are poised to look towards upcoming domestic macroeconomic indicators for guidance. In early trading at the interbank foreign exchange market, the local currency kicked off at 83.25 against the US dollar, but then strengthened to 83.24, marking a 5 paise increase from its previous close. Yesterday, the rupee closed at 83.29, experiencing a gain of 11 paise against the dollar.

Simultaneously, the dollar index, a measure of the dollar’s performance against six major currencies, rose by 0.13 percent to reach 104.79. This comes after recent US GDP figures revealed a slower growth rate of 1.3 percent for the first quarter of the year, below the anticipated 1.6 percent, fueling expectations for a Federal Reserve interest rate cut.

In the realm of commodities, Brent crude futures, the global oil standard, dipped by 0.38 percent to $81.55 per barrel. On the domestic front, the BSE Sensex surged by 500.19 points or 0.68 percent to reach 74,385.79 points, while the NSE Nifty climbed by 143.80 points or 0.64 percent, reaching 22,632.45 points at the onset of trading.

However, Foreign Institutional Investors (FIIs) reportedly offloaded shares worth Rs 3,050.15 crore in Thursday’s capital market activities, as per exchange data.

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