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Sensex hits record high 21,710; rupee gains 8 paise in early trade

BSE

BSE Sensex today soared to new record high of 21,710.43 where rupee strengthened by 8 paise at almost three-month high of 61.03 against the dollar in early trade 

SensexMumbai: The benchmark S&P BSE Sensex today soared to new record high of 21,710.43 in opening trade on heavy foreign capital inflows, tracking positive domestic and global cues.

The NSE index Nifty also jumped 53.55 points, or 0.83 per cent, to trade at new life-time high of 6,454.70, surpassing the previous intra-day high of 6,415.25, achieved on December 9, 2013.

The 30-share index, which had gained over 567 points in the previous three sessions, zoomed to 21,710.43 by surging 196.56 points, or 0.91 per cent.

All the sectoral indices, led by capital goods, banking and realty, were trading in positive territory with gains up to 3.95 per cent.

Brokers said frenzied buying by funds and retail investors, driven by shrinking country’s current account deficit and a firming trend in the Asian markets following overnight gains on the US market ahead of jobs report, helped the Sensex and Nifty to scale life-time highs.

The BSE capital goods sector index gained the most by rising 3.95 per cent as stocks of Larsen and Toubro rose 5.57 per cent, while BHEL was up by 2.43 per cent.

In the Asian region, Japan’s Nikkei rose 0.96 per cent, while Hong Kong’s Hang Seng rose 0.11 per cent in early trade today.

The US Dow Jones Industrial Average closed 0.38 per cent higher in yesterday’s trade.

Rupee gains 8 paise to 61.03 against dollar in early trade

Extending its gains for the fourth straight day, the rupee today strengthened by 8 paise to trade at almost three-month high of 61.03 against the dollar in early trade at the Interbank Foreign Exchange.

Besides, a higher opening in the domestic equity market, where the Sensex soared to hit new record high of 21,710 on strong FII inflows, also supported the local currency, forex dealers said.

Increased selling of the American currency by banks and exporters also boosted the rupee’s sentiment, they said.

The rupee had zoomed 64 paise to close at 61.11 against the US dollar in yesterday’s trade after domestic stock indices logged new peaks.

PTI

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