1. Sensex climbs 168 points on RIL earnings; positive global cues; Rupee up 10 paise in early trade

Sensex climbs 168 points on RIL earnings; positive global cues; Rupee up 10 paise in early trade

The benchmark BSE Sensex climbed almost 168 points in early session today as sentiments rose with Reliance Industries' better-than-expected fourth quarter earnings numbers which were announced yesterday.

By: | Published: April 25, 2017 10:14 AM
The 30-share index, which had rallied 290.54 points in yesterday’s session, soared 167.59 points, or 0.57 per cent, at 29,823.43, with all the sectoral indices led by realty, oil k &gas, healthcare and metal supporting the upside.

The benchmark BSE Sensex climbed almost 168 points in early session today as sentiments rose with Reliance Industries’ better-than-expected fourth quarter earnings numbers which were announced yesterday. This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron’s first round presidential election win in France, boosted trading sentiments here.

The 30-share index, which had rallied 290.54 points in yesterday’s session, soared 167.59 points, or 0.57 per cent, at 29,823.43, with all the sectoral indices led by realty, oil k &gas, healthcare and metal supporting the upside. Similarly, the NSE Nifty spurted 44.60 points, or 0.48 per cent, to 9,262.55.

Brokers said that continued buying by domestic institutional investors and retailers following RIL’s healthy numbers announced post-trading hours yesterday, mainly lent momentum to trading activity.

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RIL shares climbed 2.18 per cent, to Rs 1,447.30, in early trade after the company reported a 12.3 per cent jump in its January-March quarter net profit at Rs 8,046 crore on the back of higher refining and petrochemical margins. Other gainers included M&M, Wipro, HDFC Ltd, L&T, ICICI Bank, Power Grid, Lupin and Dr Reddy’s.

Globally, Japan’s Nikkei was up 0.84 per cent while Hong Kong’s Hang rose 0.98 per cent in early trade today. The Shanghai Composite Index gained 0.31 per cent. The US Dow Jones Industrial Average had ended 1.05 per cent higher in yesterday’s trade.

RUPEE

The rupee strengthened by 10 paise to 64.34 against the US dollar in early trade today on increased selling of the American currency by banks and exporters. Forex dealers said that apart from sustained selling of the greenback by banks and exporters, a higher opening of the domestic equity market backed up the rupee at the Interbank Foreign Exchange.

However, the US dollar’s strength against other currencies overseas capped the rupee’s gain, they added. Yesterday, the rupee had closed at a nearly two-week high by rising 17 paise at 64.44 against the US currency on heavy selling of the dollar by exporters.

 

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