Sensex up 92 points; rupee down 18 paise in early trade
BSE Sensex gained nearly 92 points where rupee fell by 18 paise to 59.22 against the US dollar in early trade todayMumbai: The benchmark BSE Sensex gained nearly 92 points in early trade today on buying in capital goods, power, banking, consumer durables, IT and healthcare stocks.
Besides, a firming trend in other Asian markets also influenced the trading sentiment here.
The 30-share index, which had retreated from record closing by losing 167.37 points in the previous session, recovered by 91.69 points, or 0.37 per cent, to 24,641.20.
Also, the National Stock Exchange index Nifty rose 23.45 points, or 0.32 per cent, to 7,341.45.
Brokers said fresh buying by funds and investors after yesterday’s profit-booking and a firming trend on Asian bourses, in line with overnight gains in the US markets, helped trading sentiments to improve here.
Among other Asian markets, Hong Kong’s Hang Seng was up 0.63 per cent while Japan’s Nikkei rose 0.16 per cent in early trade today.
The US Dow Jones Industrial Average closed on a record-high by rising 0.42 per cent in yesterday’s trade on encouraging economic data.
Rupee down 18 paise against dollar in early trade
The rupee fell by 18 paise to 59.22 against the US dollar in early trade today at the Interbank Foreign Exchange market on capital outflows by foreign funds amid month-end demand for the American currency from importers.
Besides, dollar’s strength against other currencies overseas on the back of encouraging economic data also put pressure on the local unit but a higher opening in the domestic equity market limited the fall, forex dealers said.
Meanwhile, the benchmark BSE Sensex recovered by 91.69 points, or 0.37 per cent, to trade at 24,641.20.
The rupee had lost 33 paise – its biggest drop in over two months – to close at 59.04 against the dollar in the previous session as overseas investors pulled out funds from stocks.