Menu
Search

Sensex Gains 201 Points After Rupee Recovers

Thursday, August 29, 2013
43
Separator
28
Separator
57
Separator
12
Separator
Print Print Email Email

Mumbai: The S&P BSE benchmark Sensex moved up by 201 points in late morning trade on the back of short-covering in view of last day of futures and options contract coupled with recovery in rupee against the dollar following RBI's steps to check free-fall of the domestic currency.

Shares of Consumer Durable, Captial Goods and IT sectors firmed up on good buying enquiries.

The battered rupee recovered after the Reserve Bank of India (RBI) said it has started a facility to meet the daily dollar requirement of the country's three state-run refiners, aimed at reducing currency market volatility.

The Sensex resumed higher at 18,073.66 and firmed up further to 18,205.49 before quoting at 18,197.33 at 10:40am, showing a gain of 201.18 points or 1.12 percent from its last close.

The NSE 50-share Nifty also moved up by 53.95 points or 1.02 percent to 5,338.95 at 10:40am.

Major gainers were HDFC (4.49 percent), Larsen (2.72 percent), TCS (1.96 percent), Bharti Airtel (1.91percent), HDFC Bank (1.71percent), Gail (1.43 percent) and Dr Reddy's Lab (1.26 percent).

The market is to remain volatile today in view of expiry on August contract.

Asian stocks rose in their early trade as a weaker-than-expected report on U.S. durable goods orders triggered speculation that the Federal Reserve may delay plans to reduce its monetary stimulus.

10 Best Indian Brands That Won Million Hearts
India Is No More the Most Preferred Business Destination


Source: PTI
Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit