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Sensex up 53 points, rupee down 2 paise in early trade

BSE

BSE Sensex today recovered over 53 points,  rupee fell marginally by two paise to 63.12 against the dollar in early trade today

SensexMumbai: The benchmark BSE Sensex today recovered over 53 points in early trade after two sessions of losses on emergence of buying by funds and retail investors ahead of the RBI’s policy review.

The 30-share index, which had lost over 666 points in the previous two sessions, recovered by 53.76 points, or 0.25 per cent, to 20,761.21, with stocks of consumer durables, capital goods, power, realty and metal sectors leading the recovery.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 11.05 points, or 0.18 per cent, to 6,146.90.

Brokers said emergence of buying by funds at prevailing levels ahead of the RBI’s policy review to be announced later in the day and a firming trend in the Asian region mainly influenced the trading sentiment.

In the Asian region, Japan’s Nikkei rose by 0.10 per cent, while Hong Kong’s Hang Seng index gained 0.16 per cent in early trade.

Rupee down 2 paise against dollar in early trade

The rupee fell marginally by two paise to 63.12 against the dollar in early trade today at the Interbank Foreign Exchange market on increased demand for the greenback from importers ahead of the RBI’s policy review.

The rupee had lost 44 paise to close at 10-week low of 63.10 against the dollar in yesterday’s trade amid fears that further stimulus tapering by the US Federal Reserve will hit capital inflows.

Forex dealers said besides increased dollar demand from importers ahead of the RBI policy review, weakness in other currencies overseas against the American unit put pressure on the rupee, but a higher opening of the domestic equity market capped the fall.

Meanwhile, the benchmark BSE Sensex recovered by 53.76 points, or 0.25 per cent, to 20,761.21 in early trade.

PTI

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