Rupee gains 6 paise against U.S. dollar in early trade

In the previous session, the rupee had closed at its all-time low of 78.33 against the U.S. dollar

The rupee appreciated 6 paise to 78.27 against the U.S. dollar in opening trade on Monday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.

However, elevated crude prices and persistent foreign fund outflows restricted the rupee's gain, Forex dealers said.

At the interbank foreign exchange, the rupee opened sharply up at 78.24 against the U.S. dollar, then inched lower to quote 78.27, registering a gain of 6 paise over the last close.

In the previous session, the rupee had closed at its all-time low of 78.33 against the U.S. dollar.

On the domestic equity market front, the 30-share Sensex was trading 589.05 points or 1.12% higher at 53,317.03, while the broader NSE Nifty advanced 179.65 points or 1.14% to 15,878.90.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.14% to 104.03.

Global oil benchmark Brent crude futures rose 0.57% to $113.77 per barrel.