1. Sensex scales 30,000-mark; Rupee opens lower against dollar in early trade

Sensex scales 30,000-mark; Rupee opens lower against dollar in early trade

The benchmark Sensex today regained the 30,000-mark early on by surging over 76 points after investors built more bets and domestic financial institutions continued buying amid mixed Asian cues.

By: | Published: May 9, 2017 10:16 AM
The 30-share index, which had gained 67.35 points in the previous session, added 76.39 points, or 0.26 per cent, at 30,002.54 on sustained buying activity in early trade.

The benchmark Sensex today regained the 30,000-mark early on by surging over 76 points after investors built more bets and domestic financial institutions continued buying amid mixed Asian cues. The 30-share index, which had gained 67.35 points in the previous session, added 76.39 points, or 0.26 per cent, at 30,002.54 on sustained buying activity in early trade. All sectoral indices led by realty, consumer durables, metal, power and capital goods were trading in the positive terrain, rising up to 1.96 per cent.

The NSE Nifty too was quoting 24.90 points, or 0.26 per cent, higher at 9,338.95. Traders said that widening of positions by retail investors coupled with sustained buying by domestic institutional investors kept the bullish sentiment high. Bucking the trend, shares of Bharti Airtel were down 0.73 per cent to Rs 348.70 ahead of the quarterly earnings to be announced later in the day.

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A mixed trend in Asian markets and another record close on Wall Street also influenced trading sentiments here, the traders added. Hong Kong’s Hang Seng rose 0.36 per cent, while Japan’s Nikkei shed 0.26 per cent in early trade. Shanghai Composite Index fell 0.03 per cent. The US Dow Jones Industrial Average ended 0.03 per cent higher yesterday.

RUPEE

The rupee was trading lower by 20 paise at 64.51 against the US dollar in early trade today at the forex market on increased demand for the American currency from importers amid sustained foreign fund outflow. The dollar gained strength against other currencies overseas as investors raised expectations of another US interest rate hike next month which weighed on the domestic unit, forex dealers said.

However, a higher opening in the domestic equity market restricted the rupee’s losses. Yesterday, the rupee had gained 7 paise at 64.31 on bouts of dollar selling by exporters and banks amid firming equities.

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