MUMBAI: 9.37 am: The rupee advanced by 24 paise to 66.31 against the dollar at the Interbank Foreign Exchange in early trade on Wednesday on sustained selling of the U.S. currency by banks and exporters. Meanwhile, the benchmark BSE Sensex climbed 388 points, or 1.53 percent to trade at 25,706 in deals.
9.30 am: Sensex was up over 400.43 points 25,718.
9.25 am: The 30-share Sensex was up 380.95 points at 25,698.82. The 50-share NSE Nifty index was up 115.40 points at 7,803.65.
Domestic equity markets opened on a firm note on Wednesday tracking strong global cues. The sentiments also got a boost after PM Narendra Modi met India Inc on Tuesday, where he asked them to take risk and invest more as his government promised a broad range of steps including stepping up of investment in infrastructure and improving ease of doing business to attract global investment.
The BSE Sensex and NSE Nifty opened 365 points and 117.60 points higher at 25,682.87 and 7,805.85.
Navkar Corporation debuts on the BSE and NSE on Wednesday. The company had priced the initial public offer at the top end of the Rs 147 to Rs 155 per share price band for the IPO. The IPO closed on August 26. It was subscribed 2.85 times, with total bids for 8.14 crore shares, compared with 2.85 crore equity shares on offer.
The 30-share Sensex, which plunged to 15-month low in Monday’s trade, staged a strong comeback to reclaim the 25,000-level and settled 424.06 points higher at 25,317.87 on Tuesday on value-based buying in recently beaten down blue-chips and a firming trend in global markets, helped by a late rally in Chinese equities.
Global Markets
New York: U.S. stocks rose more than 2 percent on Tuesday, bouncing after steep losses last week and a China-fueled rebound in global equities.
London: The UK’s top share index rallied on Tuesday, extending its gains from the previous session with a boost from better-than-expected euro zone Q2 GDP data and hope for further market stimulus on Chinese markets.
Tokyo: Japan’s Nikkei share average rebounded 5 percent on Wednesday morning as rallies in U.S. and European stocks dramatically boosted morale after the Nikkei wiped out its year-to-date gains on Tuesday.
Hong Kong: The Hang Seng Index was up 2.91 percent.
