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The rupee appreciated 31 paise to 94.24 against the US dollar in early trade on Thursday, supported by falling global crude oil prices, a weaker dollar index and positive domestic equity market sentiment. However, continued foreign institutional investor outflows limited further gains in the local currency

The movement of the rupee against the dollar and global oil benchmark Brent crude would also influence trading in the equity market.

The 30-share BSE Sensex jumped 529.03 points or 0.80 per cent to settle at its new all-time closing high of 66,589.93