Sensex surges 264 points, Rupee up 34 paise in early trade
The benchmark BSE Sensex today regained 21,000-level by surging 264 points where rupee strengthened by 34 paise to 61.56 against the dollar in early trade
The industrial production data for November, which was released after the market hours on Friday, contracted to a six-month low of 2.1 per cent.
The 30-share barometer, which had gained 45.12 points in volatile trading on Friday, spurted by 264.09 points, or 1.27 per cent, to 21,022.58, with all the sectoral indices led by oil and gas and IT trading in positive territory with gains up to 1.97 per cent.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 49.70 points, or 0.81 per cent, to 6,221.15.
Brokers said despite weak factory output data for November, participants indulged in accumulating stocks available at an attractive levels, helping the Sensex to trade above 21,000, for the first time since January 2 this year.
They said a firming trend on other Asian bourses also triggered buying by funds on the domestic bourses here.
In the Asian region, Hong Kong’s Hang Seng was up by 0.88 per cent in early trade, while Japan’s Tokyo’s stock exchange is closed for a public holiday.
The US Dow Jones Industrial Average ended 0.05 per cent lower in Friday’s close.
Rupee up 34 paise against dollar
The rupee today strengthened by 34 paise to 61.56 against the dollar in early trade at the Interbank Foreign Exchange market on selling of the US currency by exporters.
Besides, a strong opening in the domestic equity market, dollar’s weakness against other currencies overseas on worse-than-expected US jobs data also supported the rupee, forex dealers said.
The rupee had gained 17 paise to end at this year’s best closing level on Friday on dollar selling by exporters and stable capital inflows.
Meanwhile, the benchmark BSE Sensex spurted by 264.09 points, or 1.27 per cent, to 21,022.58 in early trade today.