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Sensex recovers 157 points; rupee up 11 paise in early trade

BSE

BSE Sensex rebounded over 157 points where rupee strengthened by another 11 paise to trade at 60.20 against the dollar in early trade today

SensexMumbai: Snapping four days of losses, the benchmark BSE Sensex rebounded over 157 points in early trade today on across the board buying by funds and retail investors amid a mixed trend in the Asian region.

The 30-share index recovered by 157.18 points, or 0.70 per cent, to 22,574.98 with stocks of banking, capital goods, and realty and healthcare sectors leading the gains. The index had lost over 458 points in the previous four sessions.

Similarly, the National Stock Exchange index Nifty moved up by 40.55 points, or 0.61 per cent, to 6,736.95.

The Bombay Stock Exchange, the National Stock Exchange were closed yesterday on account of ‘Maharashtra Day’.

Brokers said emergence of buying by funds and retail investors tracking a mixed trend overseas, after the Federal Reserve said the US economy was picking, helped trading sentiments to improve.

Besides, covering-up of short positions by speculators supported the recovery, they said.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 0.27 per cent, while Japan’s Nikkei down 0.24 per cent in the early trade.

Rupee up 11 paise against dollar in early trade

Continuing its rising streak, the rupee strengthened by another 11 paise to trade at 60.20 against the dollar in early trade today at the Interbank Foreign Exchange market on sustained selling of the US currency by exporters and banks.

The rupee had gained 11 paise to close at more than one-week high of 60.31 against the dollar on Wednesday. Forex and money markets were closed yesterday on account of ‘Maharashtra Day’.

Traders said dollar selling by exporters and banks and increased capital inflows helped the domestic currency to strengthen.

They said, however, dollar’s strength against other currencies overseas capped the rupee’s gains.

Meanwhile, the benchmark BSE Sensex rose by 157.18 points, or 0.70 per cent, to 22,574.98 in early trade today.

PTI

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