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Sensex hits new high of 22,576.50; Rupee up 14 paise early trade

BSE

BSE Sensex gained over 130 points to hit a fresh high of 22,576.50; rupee strengthened by 14 paise to touch a fresh eight-month high of 59.77 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex gained over 130 points to hit a fresh high of 22,576.50 in early trade today on continued capital inflows by funds and retailers, tracking firm global cues.

Hitting a new record-high for the eighth straight session, the 30-share barometer surged by 130.06 points, or 0.58 per cent, to hit 22,576.50, surpassing its previous high of 22,485.77 reached yesterday.

All the sectoral indices, led by consumer durables, capital goods, auto and banking were trading in the positive zone with gains up to 0.98 per cent.

On similar lines, the National Stock Exchange index Nifty continued its winning streak to hit a new high of 6740.05, rising 19.00 points, or 0.28 per cent.

Brokers said trading sentiments remained positive as foreign investors indulged in pumping more funds into Indian equities amid a firming trend in the Asian region, following overnight gains in the US markets on positive manufacturing data.

Besides, RBI keeping key rates unchanged also influenced the trading sentiments, they said.

Among other Asian markets, Hong Kong’s Hang Seng rose by 0.15 per cent while Japan’s Nikkei gained 1.48 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.46 per cent higher in yesterday’s trade.

Rupee up 14 paise against dollar in early trade

The rupee strengthened by 14 paise to touch a fresh eight-month high of 59.77 against the US dollar in early trade today at the Interbank Foreign Exchange market.

Increased selling of the dollar by exporters amid sustained foreign capital inflows also supported the rupee, dealers said.

Besides early gains in domestic equity markets, the dollar’s weakness against other Asian currencies overseas and the RBI’s decision to keep key policy rates unchanged in its first bi-monthly monetary policy statement yesterday also helped rupee post gains, they added.

The rupee had gained 40 paise to close at an eight-month high of 59.91 against the dollar on Friday. Forex and money markets remained closed on Monday and Tuesday for Gudi Padwa and annual accounts closing.

Meanwhile, the benchmark BSE Sensex rose by 130.06 points, or 0.58 per cent, to hit a new record-high of 22,576.50 in opening trade.

PTI

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