Leading Reliance Industries and HDFC twins, India’s equity benchmark indices made a comeback in early trade on Monday amid unabated foreign fund inflows and buying in the index. The 30-share BSE Sensex climbed 252.87 points to 65,533.32 in early trade. The NSE Nifty rose 76.1 points to 19,407.90.
Reliance Industries gained nearly 1 per cent in morning trade, while HDFC, Tata Motors, State Bank of India, HDFC Bank, Axis Bank, UltraTech Cement and Mahindra & Mahindra were top gainers. Meanwhile, HCL Technologies, Titan, Power Grid, Bajaj Finance, Tata Consultancy Services, Tech Mahindra, Wipro and Bajaj Finserv were the laggards. Foreign institutional investors (FIIs) continued their buying activity and bought equities worth Rs 790.40 crore on Friday, according to exchange data.
what happened in the global market
In Asian markets, Shanghai and Hong Kong remained in the green while Seoul and Tokyo declined. US markets closed in negative territory on Friday. Global oil benchmark Brent crude fell 0.62 per cent to USD 77.98 per barrel. On Friday, the BSE benchmark had fallen 505.19 points, or 0.77 per cent, to 65,280.45. The Nifty had settled at 19,331.80, down 165.50 points or 0.85 per cent.
Rupee appreciates 6 paise to 82.55 against US dollar
The rupee appreciated 6 paise to 82.55 against the US dollar in early trade on Monday, supported by sustained foreign fund inflows and rally in domestic equities.
At the interbank foreign exchange, the domestic unit opened at 82.65 against the dollar and then recovered to 82.55, showing a gain of 6 paise over its previous close. On Friday, the rupee closed at 82.61 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.18 per cent to 102.45. Global oil benchmark Brent crude futures were trading 0.65 per cent higher at USD 77.96 per barrel.
Forex traders said the rupee traded on a positive note due to sustained foreign fund inflows and positive macroeconomic indicators. India’s foreign exchange reserves increased by USD 1.853 billion to USD 595.051 billion in the week ended June 30, the Reserve Bank of India said on Friday.
Foreign institutional investors (FIIs) were net buyers in the capital market on Friday as they bought shares worth Rs 790.40 crore, according to exchange data.
(with PTI inputs)
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