BSE benchmark Sensex recouped over 134 points to trade above the 30,000-mark in early trade today on the back of widespread gains triggered by encouraging corporate earnings. The 30-share index rose by 134.33 points, or 0.44 per cent, to 30,052.73. The gauge had lost 214.95 points in the previous two sessions.
All the sectoral indices led by consumer durables, PSU, metal, auto, bank and IT were trading in the positive zone, rising by up to 0.96 per cent. The Nifty also advanced 37.75 points, or 0.40 per cent, to 9,341.85.
Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong auto sales data in April month amid a mixed trend at other Asian bourses.
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Among Asian markets, Japan’s Nikkei was up 0.70 per cent while Hong Kong’s Hang Seng gained 0.27 per cent in early trade today. Shanghai Composite Index, however, fell 0.32 per cent. The US Dow Jones Industrial Average ended 0.13 per cent lower in yesterday’s trade.
The rupee recouped sharply by 24 paise to 64 against the US dollar in early trade today on increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market. Forex dealers said weakness in the dollar against other currencies overseas supported the rupee.
Further, a higher opening in the domestic equity market gave the uptrend some momentum, they added.
On Friday, the domestic unit ended lower by 8 paise at 64.24 a dollar on sustained month-end demand for the US currency from importers and banks. Forex market remained closed yesterday on account of “Maharashtra Day”.