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Sensex up 71 points, Rupee up 3 paise in early trade

BSE

The benchmark BSE Sensex recovered over 71 points in opening trade today on the back of fresh buying by funds after industrial production

Network outage at BSEMumbai: The benchmark BSE Sensex recovered over 71 points in opening trade today on the back of fresh buying by funds after industrial production grew to 19-month high of 4.7 per cent in May amid positive cues from other Asian markets.

The 30-share barometer rose by 71.41 points, or 0.28 per cent, to 25,095.76 with stocks of auto, FMCG, oil & gas sectors, leading the gains.

The index had lost over 1,075 points in the previous four sessions.

Similarly, the National Stock Exchange index Nifty moved up by 12.05 points, or 0.16 per cent, to 7,471.65.

Brokers said buying activity emerged largely on positive economic data as industrial production grew to 19-month high of 4.7 per cent in May.

Besides, a firming trend at other Asian bourses as traders awaited a flurry of key economic data this week, including Chinese growth figures, influenced the sentiments here.

Among other Asian markets, Hong Kong’s Hang Seng index rose by 0.48 per cent, while Japan’s Nikkei was up by 0.38 per cent in early trade.

The US Dow Jones Industrial Average ended 0.17 per cent higher in Friday’s trade.

Rupee up 3 paise against dollar in early trade

The rupee strengthened by three paise to 59.90 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters and banks.

Besides, a higher opening in the domestic equity market also supported the rupee but the dollar’s gains against other currencies overseas capped the rise, forex dealers said.

The rupee bounced back by 26 paise to end at 59.93 against the American currency on Friday as exporters and some banks sold dollars.

Meanwhile, the benchmark BSE Sensex recovered by 71.41 points, or 0.28 per cent, to 25,095.76 in opening trade today.

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