Sensex up 59 points; rupee down 19 paise in early trade
Sensex rose about 59 points where rupee weakened by 19 paise to 60.32 against the US dollar in early trade today
The 30-share index moved up by 58.90 points, or 0.23 per cent, to 25,427.80 with stocks of power, metals, IT, PSUs, capital goods and realty sectors, leading the gains.
The index had gained 337.58 points in the previous session as fall in global crude oil prices eased inflation concerns.
Similarly, the National Stock Exchange index Nifty was up by 5.25 points, or 0.07 per cent, to 7,585.45.
Brokers said buying by funds and retail investors and covering-up of pending short positions by speculators ahead of tomorrow’s monthly expiry in the derivatives segment, led to the rise in stock prices.
Among other Asian markets, Hong Kong’s Hang Seng index rose 0.24 per cent, while Japan’s Nikkei was down 0.51 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.70 per cent down in yesterday’s trade.
Rupee down 19 paise against dollar in early trade
The rupee weakened by 19 paise to 60.32 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
Forex dealers said though increased demand for the US currency from importers put pressure on the rupee but a higher opening in the domestic equity market and the dollar’s weakness against other currencies overseas, capped the losses.
Yesterday, the rupee strengthened by seven paise to close at 60.13 against the US currency on the back of a sharp rise in local equities, following a drop in global crude oil prices.
Meanwhile, the benchmark BSE Sensex rose 58.90 points, or 0.23 per cent, to 25,427.80 in early trade today.