Sensex up 85 points; Rupee up 13 paise in early trade
BSE Sensex recovered over 85 points where rupee strengthened by 13 paise to 60.05 against the dollar in early trade today
The 30-share index, which had lost over 415 points in the previous three sessions, rose by 85.24 points, or 0.34 per cent, to 25,190.75, with stocks of metals, consumer durables, oil & gas, PSUs and realty sectors leading the recovery.
On similar lines, the National Stock Exchange index Nifty rose 10.20 points, or 0.14 per cent, to 7,521.70.
Brokers said revival of fresh buying by funds, tracking a firming trend in other Asian markets after preliminary data suggested Chinese manufacturing activity expanded in June for the first time this year, influenced the sentiments here.
In metal stocks, Tata steel edged up by 0.71 per cent to Rs 523.45, Sesa Sterlite gained 0.74 per cent to Rs 293.95 and Hindalco was up by 0.06 per cent to Rs 163.75.
Among other Asian markets, Hong Kong’s Hang Seng was up by 0.36 per cent while Japan’s Nikkei gained 0.46 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.15 per cent higher in Friday’s trade.
Rupee up 13 paise against dollar in early trade
The rupee strengthened by 13 paise to 60.05 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, the dollar’s weakness against other currencies overseas and a higher opening in the domestic equity market also supported the rupee, forex dealers said.
The rupee had lost 10 paise to close at 60.18 against the dollar on Friday due to higher demand for the American currency.
Meanwhile, the benchmark BSE Sensex recovered 85.24 points, or 0.34 per cent, to 25,190.75 in early trade today.