mumbai the rupee consolidated in a narrow range and settled 6 paise lower at 8188 provisional against the american currency on tuesday as investors preferred to stay on the sidelines ahead of the us fed meeting outcomeat the interbank foreign exchange the local unit opened on a positive note at 8175 but pared early gains to settle 6 paise lower at 8188 against the us dollar despite a firm trend in domestic equitiesduring the day the rupee touched a high of 8172 and a low of 8195 against the american currencyon friday the rupee closed at 8182 against the us currencyforex and equity markets were closed on monday on account of maharashtra daymeanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies rose 015 per cent to 10230brent crude futures the global oil benchmark declined 055 per cent to usd 7887 per barrelforex traders said investors are waiting for cues from the us fomc meeting beginning later in the day the market now awaits the federal open market committee fomc outcome on may 3the rupee weakened throughout the day as traders and hedgers bet on the dollar ahead of the fomc policy decision tomorrow dilip parmar research analyst hdfc securities saidspot usdinr is expected to hold support at 8150 the 200day simple moving average and resistance at 8230 we are expecting a short covering rally in the near term before breaking the longterm support line parmar saidthis week will be a holiday shortened as the market remains open only for three trade sessionsin the domestic equity market the 30share bse sensex advanced 24227 points or 040 per cent to close at 6135471 the broader nse nifty rose 8265 points or 046 per cent to settle at 1814765foreign institutional investors fiis were net buyers in the capital market on friday as they purchased shares worth rs 330432 crore according to exchange dataon the domestic macroeconomic front record gst collections and a fourmonth high manufacturing pmi are aiding bullish sentimentsthe gst collection in april rose by 12 per cent annually to over rs 187 lakh crore touching an alltime monthly high the finance ministry data released on monday saidmanufacturing activities in india accelerated further and touched a fourmonth high in april the seasonally adjusted sp global india manufacturing purchasing managers index pmi increased from 564 in march to 572 in april