Sensex up 67 points; rupee up 20 paise in early trade
BSE Sensex gained over 67 points to trade over the 22,000 level where rupee strengthened by 20 paise to trade at over seven-month high of 60.65 against the US dollar today
The 30-share index, which had surged 988 points in the previous five sessions, gained 67.24 points, or 0.30 per cent, to trade at 22,002.07 with banking, power, realty and capital goods sector stocks leading the rising streak.
The 50-share NSE Nifty also edged higher by 23.45 points, or 0.35 per cent, to 6,560.70.
Brokers said buying activity gathered momentum as foreign funds and retail investors engaged in enlarging their positions in several stocks having strong fundamentals on expectations of better industrial production data for January, to be released tomorrow which helped the Sensex to trade above the 22,000 level.
Besides, a mixed trend on other Asian bourses also generated buying by funds, they said.
Among other Asian markets, Japan’s Nikkei rose 0.39 per cent while Hong Kong’s Hang Seng shed 0.14 per cent in early trade today.
Rupee up 20 paise against dollar in early trade
The rupee strengthened by 20 paise to trade at over seven-month high of 60.65 against the US dollar today on heavy capital inflows amid a higher opening in the equity market.
Dealers said increased selling of the American currency by banks and exporters also supported the rupee but dollar’s range-bound movements against other currencies overseas, limited the gains.
The rupee had appreciated 22 paise to close at an over seven-month high of 60.85 against the US currency in the previous session on heavy capital inflows into equities that surged to a fresh record.
Meanwhile, the benchmark BSE Sensex rose 67.24 points, or 0.30 per cent, to trade above 22,000 level at 22,002.07 in early trade today.