Friday, July 1, 2011

Rupee at near 2-month high tracking shares, Asian peers

MUMBAI: The Indian rupee strengthened to its strongest level in nearly two months on Friday, boosted by gains in domestic shares and other Asian currencies, but the euro's losses versus the dollar may limit very sharp gains.

At 9:49 am (0419 GMT), the partially convertible rupee was at 44.56/57 per dollar, its strongest since May 5. Local shares were up half a percent, taking cues from firm Asian markets, with fears of an imminent default by Greece receding.


Sensex up in early trade

MUMBAI: A benchmark index for Indian equities markets made a positive start on Friday.

The 30-scrip sensitive index ( Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,974.96 points, was ruling at 18,942.41 points, up 96.54 points or 0.51 percent from its previous close at 18,845.87 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading in the green at 5,668.55 points, up 0.37%.

Broader markets too saw moderate gains with the BSE midcap index ruling 0.47% higher and the BSE smallcap index up 0.51%.


Wednesday, June 29, 2011

Sensex jumps 201 points to two-month high

MUMBAI: In a five-day long rising streak, the BSE benchmark index Sensex climbed to a two-month high adding over 201 points on buying by funds on expectations of better economic growth, shrugging off inflationary concerns.

The 30-share index, which had gained nearly 943 points in last four sessions, advanced further by 201.41 to 18,693.86, a level last seen on May 2.

Investors covering their pending short positions ahead of the ending of June month contract expiry in the derivatives segment tomorrow, further also fuelled the uptrend, marketmen said.

A firming trend in global markets on easing concerns of European sovereign debt crisis also boosted the sentiments.

Trading sentiment turned bullish as Finance Minister Pranab Mukherjee stood by his economic growth target even after the longest string of monetary tightening measures in a decade, brokers said.

Mukherjee said the economy will grow by 8.5% in 2011-12 and the recent hike in prices of petroleum products will not have much impact on the fiscal deficit.

In similar fashion, the broad-based National Stock Exchange index Nifty traded above 5,600 mark level by adding 55.15 points to settle at 5,600.41.

The rally was mostly contributed by FMCG, metal, banking, IT and realty stocks. The FMCG sector index gained the most by 2.58% to 3,972.89, followed by the metal index that rose by 1.52% to 14,987.98.

Market heavyweights Reliance Industries and Infosys Technologies closed with handsome gains. RIL rose by Rs 14.75 to Rs 885.30 and Infosys by Rs 17.90 to Rs 2,881.75.


Tuesday, June 28, 2011

Rupee gains 4 paise against US dollar

MUMBAI: The rupee appreciated by 4 paise to Rs 44.99 per dollar in opening trade on the Interbank Foreign Exchange on Tuesday, supported by dollar weakness against the euro and other Asian currencies and a higher opening in the stock market.

The rupee fell by 4 paise to close at 45.03/04 against the American currency in Monday's trade despite bullish domestic equities.

Forex dealers said dollar weakness against the euro and other Asian currencies overseas and a better opening in the stock market kept the rupee sentiment firm against the American dollar in opening trade.