Sensex gains 103 points, rupeeup 26 paise in early trade
BSE Sensex recovered over 103 points, rupee today appreciated by 26 paise to 59.85 against the dollar in early trade
The 30-share barometer rose by 103.13 points, or 0.46 per cent, to 22,446.58 with stocks of healthcare, auto, capital goods, metal and banking sectors leading the gains. The index had lost 208.05 points in the previous three sessions.
Similarly, the wide-based National Stock Exchange index, Nifty, gained 35.40 points, or 0.53 per cent, to 6,730.45.
Brokers said sentiments on the domestic bourses turned better after the International Monetary Fund (IMF) said India’s growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, triggering fresh spell of buying by foreign funds and retail investors.
Besides, a mixed trend in the Asian region supported the upside, they said.
In the Asian region, Hong Kong’s Hang Seng gained 1.11 per cent, while Japan’s Nikkei down by 1.82 per cent, in early trade today.
The US Dow Jones Industrial Average ended 0.06 per cent higher in yesterday’s trade.
Rupee recovers 26 paise Vs dollar in early trade
The rupee today appreciated by 26 paise to 59.85 against the dollar in early trade at the Interbank Foreign Exchange amidst IMF’s forecast of improved growth prospects for india.
Besides, a higher opening in the domestic equity market and strengthening of other Asian currencies against the dollar overseas supported the rupee, forex dealers said.
Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India’s growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said yesterday.
The rupee had lost three paise to close at 60.11 against the dollar on Monday. Forex and money markets remained closed yesterday for “Ram Navmi”.
Meanwhile, the benchmark BSE Sensex rose by 103.13 points, or 0.46 per cent, to 22,446.58 in early trade today.