Dollar closed at 64.6975 against its opening at 64.5800. Dollar rose after opening little changed on buying by oil importers even as investors await the release of S&P Ratings for India. Investors will also look towards the release of US Markit PMI data due later today. Crude oil prices eased after the US market hit a more than two year high on reduced crude flow from Canada and falling stocks. Indian stocks opened flat as Finance ministry prepares to introduce more incentives for micro, small and medium enterprises to comply with the new GST regime amid Federal Reserve's plan to raise its benchmark interest rate in December signalling concern over inflation. Investors eye global rating agency Standard & Poor's (S&P) review on India later today.
Locally, the finance ministry is considering introducing more incentives for micro, small and medium enterprises (MSMEs) that comply with the requirements of the new goods and services tax (GST) regime, including access to loans at discounted rates, in an attempt to reward early adopters and encourage others to comply.
Sensex provisionally ends 115.99 points higher with 19 components in green.
INTERNATIONAL
Asian shares hovered below their 10-year peak while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and an ongoing rout in the Chinese bond market.
Japanese manufacturing activity expanded at the fastest pace in more than three years in November as output, new orders, and new export orders all accelerated in a sign the economy will continue its growth streak, a preliminary survey showed on Friday.
U.S. crude oil hit fresh two-year highs, as the shutdown of a major crude pipeline from Canada to the United States tightened North American markets.
Gold prices inched up as the dollar remained under pressure after minutes of the U.S. Federal Reserve’s meeting revealed that some policymakers were concerned about lower inflation.