Sensex surges 119 pts, Rupee up 8 paise in early trade
Continuing its winning streak for the six session in a row, the benchmark BSE Sensex today rose over 119 points
Mumbai: Continuing its winning streak for the six session in a row, the benchmark BSE Sensex today rose over 119 points in early trade on encouraging corporate earnings and sustained foreign capital inflows coupled with a firming trend on other Asian bourses.
The 30-share index, which had gained 708 points in the previous five sessions, gathered another 119.33, or 0.46 per cent, to 25,834.50.
All the sectoral indices, led by infrastructure, realty FMCG and oil & gas, were trading in positive territory with gains up to 0.78 per cent.
The NSE Nifty also maintained its rising trend by gaining 23.35 points, or 0.30 per cent, to 7,707.55.
Brokers said sustained foreign capital inflows and persistent buying by retail investors, driven by encouraging first quarter earnings posted by bluechip companies so far and positive economic factors, including progress in Monsoon, bolstered trading sentiment.
Besides, a firming trend on other Asian markets following signs of easing geopolitical tension in Ukraine boosted investor sentiments, they said.
Stock of RIL continued its upward journey on the back of better-than-expected first quarter earnings and was trading 0.59 per cent higher at Rs 1,003.20.
In the Asian region, Japan’s Nikkei rose 0.96 per cent, while Hong Kong’s Hang Seng gained 0.34 per cent in early trade today.
The US Dow Jones Industrial Average closed 0.28 per cent lower in yesterday’s trade.
Rupee up 8 paise against dollar in early trade
The rupee recovered by 8 paise to 60.22 against the dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters amid sustained foreign capital inflows.
The local currency had shed two paise to close at over one-month low of 60.30 per dollar yesterday on fag-end demand for the American currency from banks and importers.
Dealers said besides dollar selling by exporters, gains in other currencies against the American unit overseas and a higher opening in the domestic equity market supported the rupee.
Meanwhile, the benchmark BSE index Sensex rose by 119.33 points, or 0.46 per cent, to 25,834.50 in early trade today.