Foreign funds bought shares worth Rs 3,006.41 crore from the capital markets on a net basis Thursday, while domestic institutional investors sold shares worth Rs 1,634.32 crore, provisional data showed.
The US dollar weakened in overseas market after the Federal Reserve left the key US lending rate unchanged on Wednesday, and said it would be "patient" about making any further changes.
RBI had in October last year relaxed external commercial borrowing (ECB) policy for IOC, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) to allow them to raise USD 10 billion in overseas loans for working capital needs.
Oil toiled at a more than one-year low after its worst month in a decade on Friday, while most major markets were keeping moves tight ahead of a weekend meeting between U.S. and Chinese presidents Donald Trump and Xi Jinping.
The US dollar declined against most other major currencies as investors digested a string of generally negative economic reports.
US stocks closed mixed as investors saw tech shares rebounded and economic data came out weaker than expected.
Rupee appreciated 67 paise to 72 against the US dollar at the interbank foreign exchange after crude prices fell to a one-year low in the global market, easing concerns over expanding current account deficit and inflation.
Brazil’s Congress is unlikely to pass pension reform legislation this year, far-right President-elect Jair Bolsonaro said, a blow to investor hopes that caused the country’s currency to weaken in futures markets.
State-owned Oil India Ltd reported a 28 per cent jump in its September quarter net profit as it benefited from a rise in international oil prices and depreciation of the rupee.
Rupee weakened further and dipped by 54 paise to 73.04 against the US dollar , owing to increased demand for the American currency from importers amid increasing global crude oil prices.