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Sensex up 28 points, rupee down 5 paise in early trade

BSE

BSE Sensex recovered over 28 points where  rupee lost five paise to 60.28 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex recovered over 28 points in early trade today on emergence of buying by funds and retail investors amid a firming trend in global markets.

The 30-share index rose by 28.31 points, or 0.12 per cent, to 22,513.24 with sectoral indices, led by consumer durables, oil and gas, metal and healthcare, gaining up to 0.94 per cent.

The index had lost 230.40 points in the previous two sessions.

The National Stock Exchange index Nifty also gained 4.00 points, or 0.06 per cent, to trade at 6,737.10.

Brokers said fresh spell of buying by funds and retail investors at select counters amid a better trend in other Asian markets after US markets posted gains yesterday following some upbeat corporate results, influenced the trading sentiments here.

Among other Asian markets, Hong Kong’s Hang Seng gained 0.40 per cent in early trade today, while Japan’s Nikkei was up by 2.23 per cent.

The US Dow Jones Industrial Average ended 0.55 per cent higher yesterday.

Rupee down 5 paise against dollar in early trade

The rupee lost five paise to 60.28 against the US dollar in early trade today at the Interbank Foreign Exchange market due to appreciation of the American currency against other Asian currencies overseas.

Sustained demand for the dollar from importers also weighed on the rupee, forex dealers said.

However, the euro’s gain against the dollar and a higher opening of the domestic equity market, caped the rupee’s losses, they added.

The rupee had lost six paise to close at a two-week low of 60.23 against the dollar in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex was up by 28.31 points, or 0.12 per cent, at 22,513.24 in early trade today.

PTI

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