Sensex climbs 211 points; rupee shines on macro data lift, climbs 19 paise to 64.89

Reliance Industries shot up by 1.15 per cent to Rs 882.50 as participants raised their bets ahead of earnings, to be released later in the day.

By: PTI | Mumbai | Published:October 13, 2017 10:34 am
Sensex, Nifty, Nifty index, market news, BSE, NSE Nifty, business news, indian express news The Bombay Stock Exchange in Mumbai. (Express photo by Ganesh Shirsekar/Files)

Driven by strong IIP numbers and an unchanged inflation, the Sensex Thursday rallied over 211 points to 32,393, reflecting interrupted buying by domestic institutional investors. The rupee appreciating 19 paise to 64.89 against the dollar today gave a leg to the rally. The rest of Asia logged a mixed trend.

The 30-share barometer pushed higher by 211.04 points, or 0.66 per cent, to 32,393.26. The gauge had leapt 348 points in the previous session. Sectoral indices turned green across the board, with metal, realty and FMCG posting sizeable gains of up to 1.90 per cent.

The NSE index Nifty was trading up by 43.25 points, or 0.42 per cent, at 10,139.65. Buying activity picked up momentum on positive economic data after industrial production grew to a 9-month high of 4.3 per cent in August while retail inflation came in at 3.28 per cent in September, unchanged from August.

Stocks of Bharti Airtel zoomed 6.94 per cent to Rs 427.80 after the company announced that the consumer mobile business of (CMB) of Tata Teleservices Ltd and Tata Teleservices Maharashtra will merge with it in a cash-free, debt-free deal. Stock of TCS, India’s largest software services, rose 1.08 per cent to Rs 2,576.15 even as the company’s net profit fell 2.1 per cent in the September quarter.

Reliance Industries shot up by 1.15 per cent to Rs 882.50 as participants raised their bets ahead of earnings, to be released later in the day. Japan’s Nikkei rose 0.23 per cent while Shanghai Composite rose up 0.09 per cent in their early deals. Hong Kong’s Hang Seng, however, was down 0.16 per cent.

The US Dow Jones Industrial Average had closed 0.14 per cent lower yesterday. Rupee shines on macro data lift, climbs 19 paise to 64.89. The rupee strengthened 19 paise to 64.89 against the US dollar today, buoyed by a set of positive economic data.

Industrial production expanded to a 9-month high of 4.3 per cent in August while retail inflation was stagnant at 3.28 per cent in September compared to the previous month. A stronger opening in domestic stocks and the dollar’s reduced strength against some currencies overseas kept the rupee on a firm ground, traders said. But continuous outflow of foreign money kept the upmove in check.

Yesterday, the rupee had appreciated by another 6 paise to end at a fresh one-week high of 65.08 on continued selling of the greenback. The benchmark Sensex was trading higher by 211.04 points, or 0.66 per cent, at 32,393.26 in early session Thursday.

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