Breaking News
BUSINESS

Global cues, appreciation in rupee boost equity indices

Mumbai, July 9: Firm global cues coupled with an appreciation in the Indian rupee lifted the key Indian equity indices on Monday.

According to market observers, a healthy US jobs data released on Friday strengthened the investor sentiments in the global markets.

Index-wise, in the domestic market, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,852.90 points — higher by 80.25 points or 0.74 per cent — from its previous close of 10,772.65 points.

Similarly, the barometer 30-scrip Sensex on the BSE, which had opened at 35,835.10 points, closed on a positive note. It ended the day’s trade at 35,934.72 points — up by 276.86 points or 0.78 per cent — from its previous session’s close of 35,657.86 points.

Sensex touched a high of 35,977.37 points and a low of 35,779.72 during the intra-day trade. In the broader markets, the S&P BSE mid-cap rose by 1.23 per cent and the S&P BSE small-cap ended 1.58 per cent higher from its previous close. The BSE market breadth was bullish with 1,708 advances against 907 declines.

“The gains came on the back of a robust June payrolls in the US,” said V.K. Sharma, Head of Private Client Group and Capital Market Strategy at HDFC Securities. The BNP Paribas Mutual Fund’s Senior Fund Manager for Equities, Abhijeet Dey said trading for the week began on a firm note following positive global stocks.

Fresh buying in pivotal indices propelled the key benchmark indices to trade in the positive zone, Dey added.
Further, appreciation in the rupee against the dollar also firmed up the investor sentiments. The rupee strengthened by 15 paise on Monday to end at 68.72 per dollar, against the previous close of 68.87 per greenback.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 569.91 crore while the domestic institutional investors bought stocks worth Rs 740.39 crore.

Sector-wise, all the indices ended on a positive note with the S&P BSE banking index gaining the most, by 277.41 points. It was followed by the capital goods and metal indices, which rose by 255.43 points and 155.99 points respectively.

The major gainers on the Sensex were Vedanta, up 3.14 per cent at Rs 226.40; Asian Paints, up 3.11 per cent at Rs 1,364; Yes Bank, up 2.70 per cent at Rs 361.90; Sun Pharma, up 1.97 per cent at Rs 569.45; and Reliance Industries, up 1.96 per cent at Rs 995.65 per share.

The top losers were Tata Consultancy Services, down 1.34 per cent at Rs 1,887.65; HDFC, down 0.32 per cent at Rs 1,909.70; IndusInd Bank, down 0.22 per cent at Rs 1,954.60; Bharti Airtel, down 0.22 per cent at Rs 361.05; and Coal India, down 0.11 per cent at Rs 271 per share. (IANS)

About the author

Sentinel Group