Sensex surges 138 points, rupee up 22 paise in early trade
BSE Sensex jumped nearly 138 points where rupee gained 22 paise to 60.97 against the dollar in early trade today
The 30-share index rose 137.66 points, or 0.63 per cent, to 21,947.46 with all sectoral indices, led by auto, metal and banking gaining up to 1.48 per cent. The index had gained 35.19 points in the previous session on Friday.
The wide-based Nifty of the National Stock Exchange moved up by 47.35 points, or 0.73 per cent, to 6,551.55.
Stock market remained closed yesterday for ‘Holi’.
Brokers said sustained buying by funds and retail investors following a firming trend on other Asian bourses tracking overnight gains on the US market after data showing industrial output increased more than expected in February mainly buoyed the trading sentiment here.
Shares of country’s largest car-maker Maruti Suzuki soared 9.37 per cent to Rs 1,899.90 after the company decided to seek approval of minority shareholders for controversial Gujarat plant, which it’s parent Suzuki Motor Corp had decided to take over from it.
Other major gainers were Axis Bank (1.62 per cent), HDFC Bank (1.47 per cent), ICICI Bank (1.15 per cent), Bajaj Auto (1.03 per cent), BHEL (2.56 per cent), GAIL India (1.91 per cent), Infosys (0.31 per cent) and RIL (1.53 per cent).
In the Asian markets, Hong Kong’s Hang Seng rose by 0.50 per cent, while Japan’s Nikkei was up by 1.08 per cent in early trade today.
The US Dow Jones Industrial Average gained 1.13 per cent in yesterday’s trade.
Rupee up 22 paise against dollar in early trade
The rupee gained 22 paise to 60.97 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the US currency by exporters amid a higher opening in the domestic equity market.
Besides, the WPI inflation that eased to a nine-month low in February, raising expectations that the RBI would leave interest rates unchanged at its policy review next month, supported the rupee, forex dealers said.
In volatile trade, the rupee had shed two paise to close at 61.19 in the previous session on Friday.
Forex and Money markets remained closed yesterday for ‘Holi’ festival.
Meanwhile, the benchmark BSE Sensex rose 137.66 points, or 0.63 per cent, to 21,947.46 in early trade today.