Nifty index is up 4 per cent so far this year but investor sentiment suggests a bear market going forward, according to a UBS research note.
Rupee slipped from its early gains, trading lower by 2 paise to 68.47 against the American currency in late morning deals on bouts of dollar demand from importers and banks amid surging dollar overseas.
Rupee firmed up by 12 paise to 68.33 against the US dollar on increased selling of the American currency by exporters and banks.
The rupee today bounced back to settle at a fresh two-week high of 68.45 against the US currency, gaining 12 paise as crude oil prices beat a hasty retreat, easing inflation and trade deficit worries.
IBM is backing a new cryptocurrency pegged to US dollar, in a partnership with Stronghold that adds stability to a sector known for its volatility, the companies said.
Gold futures fell Rs 47 to Rs 30,033 per 10 grams today as participants trimmed positions after a decline in global prices of the precious metal.
Rupee strengthened 21 paise to trade at 68.36 against the US dollar in morning session at the interbank forex market today.
The rupee retreated from a near two-week high and ended lower by 4 paise at 68.57 against the US currency, snapping a three-session recovery trend due to renewed dollar demand.
Continuing their selling spree, foreign investors have pulled out nearly Rs 1,200 crore from the debt markets in the first two weeks of the month on higher fuel prices and possibilities of rate hike by the US Federal Reserve.
The rupee today surged to a three-week high of 68.31 before closing marginally up by 4 paise at 68.53 against the US currency mirroring late losses in stock markets and capital outflows.