Rupee down 9 paise at 63.56 against US dollar.

The rupee weakened by 9 paise to 63.56 against the US dollar in early trade on Monday as the American currency strengthened on expectations of interest rate hike by US Fed by the end of the year.

Besides, increased demand for the dollar from importers and a lower opening in the domestic equity market also weighed on the local currency, dealers said.

The rupee had gained four paise to close at 63.47 on Friday on fresh selling of dollars by banks and exporters.
Meanwhile, the benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade. 

Spicejet shares surge over 5%.

Shares of Spicejet on Monday surged over 5 per cent amid reports that two Gulf airlines have approached the company for buying a stake in the domestic firm.

Following the buzz, the stock rose by 5.22 per cent to Rs 23.15 on BSE.

On the volume front, 29.97 lakh shares of the company were traded at BSE during the morning trade.

According to media reports, two big Gulf airlines have approached Ajay Singh-promoted SpiceJet for buying a stake in the airline.

Meanwhile, the benchmark BSE Sensex was trading at 28,337.42, down 121.38 points at 1230 hrs.