Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.
The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.
Foreign funds bought shares worth a net of Rs 2,043.06 crore Thursday, as per provisional data. At the interbank forex market, the rupee opened higher at 71.94, and advanced 10 paise to 71.87 against the US dollar. The rupee had vaulted 34 paise to close at a two-month high of 71.97 against the US dollar Thursday on robust foreign fund inflows amid low crude oil prices.
Meanwhile, the benchmark BSE Sensex rose 96.29 points, or 0.28 per cent, to 35,356.83 in early session Friday.
Sensex jumps over 150 pts on funds inflow, global cues
Domestic equities opened on a firm note Friday as the benchmark BSE Sensex surged over 150 points on the back of continued foreign fund inflow and appreciating rupee. Positive leads from the US markets on optimism that the US and China may resolve their trade dispute, and a mixed trend at other Asian bourses too influenced sentiments here.
The 30-share index spurted 159.17 points, or 0.45 per cent, to 35,419.71 points with sectoral indices, led by healthcare, auto, FMCG, capital goods and banking, rising up to 1.03 per cent. The barometer had gained 118.55 points Thursday. The NSE Nifty was trading 41 points, or 0.39 per cent, higher at 10,657.70.
Prominent gainers include Sun Pharma, Axis Bank, Asian Paint, RIL, M&M, Hero MotoCorp, TCS, HDFC Bank, Maruti Suzuki, PowerGrid, ICICI Bank, Tata Motors, Bajaj Auto, NTPC and Bharti Airtel, gaining up to 1.37 per cent. On the other hand, continuing its fall, Yes Bank was the biggest loser, dropping up to 6 per cent. ONGC, Infosys, Tata Steel, Vedanta and Adani Ports too fell up to 3 per cent.
Meanwhile, the rupee was trading higher by 10 paise at 71.87 against the American currency in early deals Friday. There was continued buying by foreign funds for the second straight day Thursday. Foreign institutional investors (FIIs) accumulated shares worth a net of Rs 2,043.06 crore, while domestic institutional investors (DIIs) sold shares worth Rs 165.31 crore Thursday, provisional data showed.
Elsewhere in Asia, Shanghai Composite Index rose 0.71 per cent, Korea’s Kospi up 0.20 per cent, while Japan’s Nikkei fell 0.52 per cent. The Dow Jones Industrial Average in the US ended 0.83 per cent higher Thursday.
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