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Sensex up 133 points, Rupee rises 12 paise in early trade

BSE

Continuing its rising spree for the seventh straight day, the benchmark BSE Sensex rose over 133 points in early trade
Network outage at BSEMumbai: Continuing its rising spree for the seventh straight day, the benchmark BSE Sensex rose over 133 points in early trade today as metals, FMCG, capital goods and PSU sector stocks led the rally on sustained capital inflows.

Besides, a firming trend overseas also buoyed market sentiments.

The BSE 30-share barometer spurted by 133.27 points, or 0.51 per cent, to trade at 26,159.07 with all the sectoral indices trading in positive zone with gains up to 0.96 per cent.

The NSE Nifty also maintained its rising trend and reclaimed the 7,800-mark by gaining 38.20 points, or 0.49 per cent, to trade at 7806.05, just shying away from its lifetime high of 7,808.85 reached on July 8.

Besides widespread buying by funds and retail investors on the back of encouraging Q1 earnings by bluechip companies, covering up of pending short positions by speculators helped the key indices — Sensex and Nifty — to continue their upward journey, stock brokers said.

Further, a firming trend in other Asian markets on easing concerns over Ukraine and overnight gains in US markets influenced the trading sentiments here, they said.

Among other Asian markets, Japan’s Nikkei gained 0.16 per cent, while Hong Kong’s Hang Seng was up 0.25 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.36 per cent higher in yesterday’s trade.

Rupee rises 12 paise against dollar in early trade
Mumbai, Jul 23 (PTI) Extending its rising streak for the second straight session, the rupee strengthened by 12 paise to trade at 60.12 against the US dollar in early trade today on sustained foreign capital inflows.

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

Besides, a sustained rally in domestic equity market in opening trade also helped the rupee but the dollar’s strength against other currencies overseas capped the rise, they added.

Yesterday, the rupee rose six paise to end at 60.24 against the dollar on fresh selling of the American currency by exporters and positive cues from a strong domestic stock market.

Meanwhile, the benchmark BSE Sensex rose 133.27 points, or 0.51 per cent, to trade at 26,159.07 in opening trade.

PTI

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