The Indian rupee gained on Monday gained  4 paise against the US dollar, closing provisionally at 77.54  on the back of higher local equities and a weaker US currency overseas. The rupee stabilised in a limited range, according to forex traders, as rising crude oil prices and continued FII withdrawals impacted on the local currency.

The rupee opened at 77.53 against the dollar on the interbank forex market and traded in a range of 77.46 to 77.56 during the day. The rupee ended the day at 77.54, up 4 paise from the previous closing of 77.58.

The BSE Sensex rose 1,041.08 points, or 1.90 percent, to 55,925.74, while the broader NSE Nifty rose 308.95 points, or 1.89 percent, to 16,661.40.  The dollar index, which measures the strength of the US dollar against a basket of six currencies, dropped 0.22 percent to 101.44.

According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 1,943.10 crore.

Brent crude prices increased 0.39 percent to USD119.90 per barrel, the global benchmark.

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