Continuing its record-setting spree, the Nifty climbed over the 9,200-mark for the first time and the benchmark Sensex surged 239 points in early hours today, with foreign investors continuing to pump up money. The broader NSE Nifty crossed the key 9,200-mark by surging 64.70 points, or 0.70 per cent, to trade at an all-time high of 9,218.40. The 30-share index surged 238.77 points, or 0.80 per cent, to trade at 29,824.62.
The gauge had added 187.74 points in the previous session, tracking firm global markets after the prospects of a gradual approach to US rate hike removed a big uncertainty.
Sectoral indices led by FMCG, realty, metal and power were trading in the positive zone with gains up to 2.97 per cent.
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Sentiment was up on strong inflow of foreign capital in the Indian bourses and hopes that the government will accelerate its reform agenda following the BJP’s huge win in UP and Uttarakhand assembly elections last week.
Hong Kong’s Hang Seng was up by 0.32 per cent while Japan’s Nikkei shed 0.34 per cent in early trade today. Shanghai Composite fell 0.17 per cent. The US Dow Jones Industrial Average ended marginally lower by 0.07 per cent yesterday.
Rupee tumbles 24 paise, stronger equities restrict fall
Reversing its 4-day climb, the rupee fell 24 paise to 65.65 against the dollar today as the American currency got some of its lure back among banks and importers.
The dollar’s strength overseas weighed, but a higher opening in domestic equities cushioned the impact.
The rupee had gained 28 paise to close at a fresh 16-month high of 65.41 yesterday after the US Fed stuck to its stance of a gradual approach on future rate hikes.
The Sensex rallied 238.77 points, or 0.80 per cent, to 29,824.62 in early part of the session.