Market review: Sensex recovers 197pts

Forex: The rupee continued its south-bound journey for the fourth consecutive week to end down by 35 paise at 2-1/2-month low of 55.51 against the Greenback on heavy dollar demand from importers and some banks.

However, firm local equities, sustained capital inflows and weak dollar overseas capped the rupee fall to some extent, a dealer said.

Adjournment of Lok Sabha for the first two days of the winter session of Parliament also weighed on the rupee, as the government could not able to bring more economic reforms to improve the sagging economy.

At the Interbank Foreign Exchange (Forex) market, the local currency commenced the week better at 55.07 a dollar as against last weekend's close of 55.16 and touched a high of 54.79 on Tuesday on firm dollar overseas amid sustained capital inflows.

However, later it turned negative and declined further to a low of 55.61 before concluding the week at 55.51, showing a net loss of 35 paise, or 0.63 per cent. In four weeks, the rupee has tumbled by 195 paise or 3.64 per cent. Previously, it had settled at 55.66 on September 6, 2012.

The BSE benchmark Sensex closed the week up by 197.20 points or 1.08 per cent, while FIIs bought shares worth Rs 1,671.47 crore, including provisional data of November 23.

The U.S. dollar slumped against its six major

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