The rupee had fallen to all time low of 68.85 against the US dollar on August 28. It has gained since then. Yesterday, it appreciated 19 paise to 63.11 against the dollar. The Reserve Bank has taken some steps to shore up the domestic currency.
Mahesh Patil of Birla Sun Life AMC remain overweight on IT stocks on back of rupee stabilising and the deal pipeline looking much healthier.
A recent survey by the investment research arm of the Wall Street firm State Street Corporation has shown that the foreign institutional investors had a healthy appetite in global equity and bond markets in June.