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Sensex recovers 152 points, rupee up 22 paise in early trade

BSE

BSE Sensex rebounded nearly 152 points where rupee appreciated by 22 paise to trade at almost 10-month high of 59.46 against the US dollar in early trade today
SensexMumbai: The benchmark BSE Sensex rebounded nearly 152 points in early trade today as funds and investors indulged in enlarging positions ahead of the outcome of the Lok Sabha elections amidst a mixed trend in Asian markets.

The 30-share index, which had slipped from record-high levels by falling 56.11 points in yesterday’s trade, recovered by 151.78 points, or 0.64 per cent, to trade at 23,966.90.

All the sectoral indices, led by realty and consumer durables, were trading in the positive zone with gains up to 1.86 per cent.

On similar lines, the broader National Stock Exchange index Nifty rose by 43.80 points, or 0.61 per cent, to 7,152.55.

Brokers said the sentiment remained strong on continued capital inflows and widespread buying by retail investors ahead of the outcome of the Lok Sabha elections tomorrow.

Besides, encouraging quarterly earnings by some more companies, including Tata Steel, also triggered buying activity, they said.

Stocks of Tata Steel spurted by 2.55 per cent to Rs 463.70, its highest level since May 2012 after the company yesterday reported Rs 1,036 crore consolidated net profit for the January-March quarter.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 0.66 per cent, while Japan’s Nikkei fell 0.88 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.61 per cent lower in yesterday’s trade.

Rupee at 10-mth high; up 22 paise against USD in early trade

The rupee appreciated by 22 paise to trade at almost 10-month high of 59.46 against the US dollar in early trade today at the Interbank Foreign Exchange market on continued foreign capital inflows after exit polls projected NDA will form the next government at the Centre.

Besides, increased dollar selling by exporters and a higher opening in the domestic equity market and strengthening of other currencies against the American currency overseas also supported the rupee.

The rupee had surged 37 paise to end at a nine-month high of 59.68 against the dollar on Tuesday. Forex market remained closed yesterday for Buddha Purnima.

Meanwhile, the benchmark BSE Sensex recovered by 151.78 points, or 0.64 per cent, to 23,966.90 in early trade today.

PTI

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