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Tuesday August 4, 03:20 PM
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Rupee pares gains as stocks fall 1 pct
MUMBAI (Reuters) - The rupee gave up gains in afternoon trade on Tuesday as losses in the domestic share market raised worries of capital outflows but weakness in the dollar versus majors provided some support.
* At 2:17 p.m., the partially convertible rupee was at 47.63/64 per dollar, off an early high of 47.43 -- its strongest since June 12 and little changed from Monday's close of 47.635/645.
* The BSE Sensex (^BSESN : 16632.01 -222.92
) dropped 1 percent in afternoon session as investors cashed in profits after the market rose to its highest close in 14 months in the previous session following a 17.5 percent jump over the past three weeks.
* The euro hovered below its year's highs against the dollar on Tuesday, taking a breather from rapid gains the previous day as investors took profits on riskier assets.
* In the currency futures market, the most traded near-month contract on the National Stock Exchange (^NSEI : 4941.75 -63.8) and MCX-SX were both quoting at 47.7350 each, with the total traded volume on the two exchanges at about $1.2 billion.
(For more news on Reuters Money click http://in.reuters.com/money)
