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Sensex gains 130 points, rupee up 30 paise in early trade


 Sensex recovered by over 130 points, rupee today recovered by 30 paise to 61.04 against the dollar SensexMumbai: The BSE benchmark Sensex today recovered by over 130 points in early trade on emergence of buying by funds and retail investors amid a firming trend in the global markets. Besides, covering-up of short positions by speculators in some stocks also helped trading sentiments to improve. The 30-share index rose by 130.02 points, or 0.59 per cent, to 21,870.11, with all the sectoral indices led by realty and capital goods were trading in positive zone, rising up to 0.97 per cent. The index had lost 92.77 points in the previous session. The wide-based Nifty of the National Stock Exchange, regained 6,500 level by recovering 35.30 points, or 0.54 per cent, to trade at 6,518.40. Brokers said value-based buying by funds and retail investors at select counters, having strong fundamentals amid a better trend on the other Asian markets after US markets posted gains yesterday on fresh positive economic data, mainly buoyed the trading sentiment here. In other Asian markets, Hong Kong’s Hang Seng gained 0.16 per cent in early trade today, while Japan’s market closed for a public holiday. The US Dow Jones Industrial Average ended 0.67 per cent higher yesterday. Rupee up 30 paise against dollar in early trade The rupee today recovered by 30 paise to 61.04 against the dollar at the Interbank Foreign Exchange market on increased selling of the US currency by exporters and banks. Forex dealers said a higher opening in the domestic equity market and strengthening of the euro and yen against the dollar overseas supported the rupee. The rupee had depreciated by 39 paise, logging its biggest daily loss in nearly two months, to end at 61.34 yesterday on fears of capital outflows from emerging markets after Federal Reserve signalled a sooner-than-expected hike in US benchmark interest rates. Meanwhile, the benchmark BSE index Sensex recovered by 130.02 points, or 0.59 per cent, to 21,870.11 in early trade today. PTI

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