Sensex gains nearly 2%, rupee bounces back

Written by fe Bureau | Mumbai | Updated: Oct 30 2013, 09:20am hrs
Snapping a five-day losing streak, benchmark equity indices rose nearly 2% on Tuesday following the RBI monetary policy announcement.

The Sensex gained 358.73 points, or 1.74%, to a new three-year high of 20,929.01 on a closing basis, while the Nifty advanced 119.8 points, or almost 2%, to 6,220.9 the highest level since November 10, 2010. The cheer extended to the broader markets as well, with the BSE Mid-Cap and Small-Cap indices gaining 1.5% and 0.5%, respectively.

The rupee, meanwhile, bounced back 21 paise, its biggest gain in more than two weeks, to close at 61.31 against the dollar. Fresh dollar sales by exporters amid sustained capital inflows also supported the local currency.

(with agency inputs)