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Sensex up 76 points; rupee down 4 paise in early trade

BSE

BSE Sensex gained over 76 points, rupee lost four paise to 60.33 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex gained over 76 points in early trade today on sustained buying by funds and retail investors, mainly in metals, power, PSUs, capital goods, banking and oil & gas sector stocks.

The 30-share barometer gained 76.30 points, or 0.34 per cent, to 22,705.14. In the previous session on Thursday, the index had gone up by 351.61 points.

Exchanges remained closed on their last trading session of the previous week on account of “Good Friday”.

The National Stock Exchange index Nifty traded higher by 26.10 points, or 0.38 per cent, at 6,805.50.

Brokers said sentiments remained firm on sustained buying on the back of encouraging fourth quarter earnings posted by some bluechip companies which triggering buying.

Stocks of Reliance Industries rose by Rs 11.25, or 1.17 per cent, to Rs 970 as the company reported a marginal rise in net profit to Rs 5,631 crore in the fourth quarter ended March 31, from Rs 5,589 crore a year earlier.

Among other Asian markets, Japan’s Nikkei rose by 0.63 per cent in early trade today, while Hong Kong markets remained closed today for a public holiday.

Rupee down 4 paise against dollar in early trade

The rupee lost four paise to 60.33 against the US dollar in early trade today at the Interbank Foreign Exchange market due to demand of the US currency from importers.

Forex dealers said strengthening of dollar against other currencies in the global market also put pressure on the rupee but a higher opening of the domestic equity market limited the fall.

The domestic currency had closed higher by eight paise at 60.29 on Thursday, in line with a surge in stock markets.

Forex and money markets remained closed on their last trading session of previous week on account of ‘Good Friday’.

Meanwhile, the benchmark BSE Sensex rose by 76.30 points, or 0.34 per cent, at 22,705.14 in early trade today.

PTI

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