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Sensex rises 121 points; rupee up 10 paise in early trade

BSE

Benchmark BSE Sensex today rose further by over 121 points where rupee rose by another 10 paise to trade at a fresh 11-month high of 58.37 against the US dollar in early trade

SensexMumbai: Maintaining its upward trend, the benchmark BSE Sensex today rose further by over 121 points in early trade on the back of rally in realty, auto, power and capital goods sector stocks amid increased fund inflows.

Besides, a firming trend on other Asian markets supported the upside.

The 30-share Sensex spurted by 121.05 points, or 0.50 per cent, to trade at 24,495.45. The gauge had gained 76.38 points in yesterday’s trade.

The 50-share NSE Nifty also moved up by 22.90 points, or 0.31 per cent, to 7,299.30.

Sectoral indices led by realty, power, PSUs, capital goods and bankings stocks continued to trade in the positive territory with gains up to 2.40 per cent.

Brokers said sentiments remained extremely bullish on persistent buying by foreign investors who expect the new BJP-led NDA government to take measures for reviving the investment climate.

With the improvement in trading sentiments, buying activity also gathered momentum in mid and small-cap sector stocks, having potential to appreciate, they said.

Among other Asian markets, Hong Kong’s Hang Seng rose 0.25 per cent while Japan’s Nikkei gained 0.94 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.06 per cent higher in yesterday’s trade.

Rupee up 10 paise to hit fresh 11-month high

Extending yesterday’s gain, the rupee today rose by another 10 paise to trade at a fresh 11-month high of 58.37 against the US dollar in early trade on increased selling of the American currency by exporters.

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

Besides, a higher opening in the domestic equity market also helped the rupee, but dollar’s gain against other currencies overseas limited the rise, they added.

The rupee rose 30 paise, its biggest single-day gain in a week, to close at over 11-month peak of 58.47 against the dollar yesterday.

Meanwhile, the benchmark BSE Sensex rose 121.05 points, or 0.50 per cent, to trade at 24,495.45 in early trade.

PTI

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