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Nifty Midcap index was up 1.6 percent as about nine shares advanced for every share falling on the BSE. The rupee strengthened by 6 paise to64.18 against the dollar at the interbank forex market today
on fresh selling of the American currency by exporters and
banks ahead of the announcement of RBI's monetary policy .
Dealers said dollar's weakness against other currencies overseas and early gains in domestic equity markets supported the rupee.
Yesterday, the rupee had tumbled 17 paise to end at a fresh seven-week low of 64.24 against the US dollar.
According to the provisional exchange data, foreign investors sold shares worth Rs 2,326.10 crore on net basis yesterday.
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