Rupee falls 1 paisa to 83.03 against US dollar
New Delhi (PTI): The rupee settled 1 paisa lower at 83.03 (provisional) against the US dollar on Monday, as positive cues from domestic equity markets failed to allay investors' concerns over elevated crude prices.
A weak American currency against major rivals overseas, however, supported the domestic unit and restricted the fall, forex traders said.
At the interbank foreign exchange market, the local unit opened at 82.93 against the US dollar and moved between the peak of 82.83 and the lowest level of 83.06.
The rupee finally settled 1 paisa lower at 83.03 (provisional) against the previous close.
On Friday, the Indian unit had appreciated 21 paise to close at 83.02 against the greenback.
"We expect the rupee to trade with a slight positive bias on the soft US dollar, positive domestic markets and a correction in crude oil prices. However, concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the US may cap sharp gains," Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said.
Choudhary said that traders may remain cautious ahead of inflation data from India and the US later this week. "USD/INR spot price is expected to trade in a range of Rs 82.40 to Rs 83.30."
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.42 per cent to 104.65.
Brent crude futures, the global oil benchmark, were trading 0.30 per cent lower at USD 90.38 per barrel.
On the domestic equity market front, the BSE Sensex regained the 67,000-level and closed 528.17 points or 0.79 per cent higher at 67,127.08. The broader NSE Nifty advanced 176.40 points or 0.89 per cent to 19,996.35.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 224.22 crore, according to exchange data.
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Indore MBA student's classmate abused body after killing her, performed witchcraft: Police
Indore (PTI): The classmate of a 24-year-old female MBA student, arrested in Indore for her murder, allegedly abused the body after the killing and also performed occult rituals while on the run, police said.
On February 13, people complained of a foul smell emanating from a closed house in the city's Dwarkapuri police station area.
After police arrived at the scene, the naked body of a 24-year-old woman was found in the house.
The woman was pursuing a Master of Business Administration (MBA) degree from a city college and the body was found in her classmate's rented house, Deputy Commissioner of Police (DCP) Shrikrishna Lalchandani told PTI on Monday.
The classmate fled after the incident. He was taken into custody in Mumbai and is being interrogated after his arrest, the official said.
Referring to the accused's interrogation, the official said he allegedly strangled his classmate to death and then "abused" the body.
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"The accused also performed witchcraft near Panvel (in Navi Mumbai) while on the run. The accused claims that he was mentally disturbed after the murder and wanted to communicate with the woman's spirit through witchcraft," he said.
According to the DCP, the woman and the accused were in a close relationship.
"The accused suspected that she was talking to other men. Enraged, he killed her and fled," the official said.
After the woman's body was found, her father accused the classmate of trying to extort money from his daughter using her obscene photos and then torturing her to death.
The accused had even posted these photos on her college WhatsApp group, he alleged.
