Indian Rupee, BSE Sensex, NSE Nifty, Gold price, on Jan 08, 2014
Wed Jan 08 2014, 19:08 hrs
BSE Sensex today snapped its five-session losing streak and rose for the first time this year by over 36 points led by Tata Consultancy Services (TCS) and Coal India and value buying in healthcare, PSUs, auto, metal and oil and gas company stocks amid earnings optimism. Among exporters stocks, Tata Consultancy Services shot up by 1.12 per cent to Rs 2,233 on earnings optimism.
At the interbank foreign exchange market, the local currency opened strong at 62.20 a dollar from the previous close of 62.30. It declined to a low of 62.27 on initial hesitancy in local equities and capital outflows. The rupee bounced back and ended at the day's high of 62.07, a rise of 23 paise or 0.37 per cent. It was the highest level for the rupee since closing at 61.90 on Jan 1.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar today, amid a modest recovery in local stocks and sales
of the US currency by exporters and banks. A firm dollar overseas and capital outflows from domestic equities failed to cap the rupee's gains, a forex dealer said.
NSE Nifty moved up by 12.35 points, or 0.20 per cent, to 6,174.60 after touching the day's high of 6,192.10. Also, SX40 index, the flagship index of MCX-SX, closed 37.24 points higher at 12,375.42. Stocks of state-owned Coal India led the recovery by surging 4.77 per cent to Rs 288.75 on reports that company has scheduled a board meeting next week to consider payment of an interim dividend, if any.
The 30-share index, which had lost nearly 485 points in five sessions, recovered by 36.14 points, or 0.17 per cent to end at 20,729.38 after moving between 20,786.41 and 20,688.18. Brokers said the trading sentiment turned better after investors bought fundamentally strong stocks available at attractive lower levels amid hopes of encouraging quarterly earnings from blue-chip companies.
Gold prices fell by Rs 160 to Rs 30,000 per ten grams in the national capital on sustained selling by stockists against sluggish demand amid a weak global trend. Silver also dropped by Rs 1,050 to Rs 44,300 per kg on reduced offtake by industrial units, particularly coin makers, amid weak global cues.