Sensex rebounds 155 pts, Nifty hits 8,700, rupee gains 11 paise against dollar in early trade

In the Asian region, Japanese and Hong Kong and Taiwanese financial markets are closed for holidays.

By: PTI | Mumbai | Published:October 10, 2016 10:50 am
Sensex, nifty, stocks, Sensex today, stocks today, RBI, RBI policy, RBI policy meet, market today, sensex market, sensex economy, business news BSE sensex (File Photo)

BSE benchmark Sensex Monday recovered over 155 points and the NSE Nifty topped the 8,700-level amid sustained foreign fund inflows and optimism among domestic investors ahead of IIP data to be released later in the day.

The 30-share index, which had lost 273.41 points in the previous three sessions, recovered 155.50 points or 0.55 per cent, to trade at 28,216.64, with all sectoral indices led by metal, PSU, FMCG and auto trading in the green.

Similarly, the NSE Nifty rose 37.40 points, or 0.43 per cent, to 8,735. Brokers said widening up of bets by participants ahead of key economic data – August Industrial Production (IIP) – to be released after market hours today fuelled the upmove. Monthly inflation data based on consumer price index (CPI) for September is due on Thursday and wholesale price index (WPI) on Friday.

In the Asian region, Japanese and Hong Kong and Taiwanese financial markets are closed for holidays. Shanghai, after a long public holidays, was up 1.55 per cent in early trade on Monday. The US Dow Jones Industrial Average ended 0.15 per cent lower in Friday’s trade.

The rupee rose by 11 paise to trade at 66.56 against the US dollar in early trade today at the forex market on increased selling of the American currency by banks and exporters.

Besides, sustained foreign fund inflows, weakness of the dollar against other currencies overseas after last week’s softer-than-forecast US jobs data, and a higher opening in the domestic equity market boosted the rupee value against the dollar, forex dealers said.

The rupee had ended marginally higher by 1 paisa at 66.67 in Friday’s trade. Meanwhile, the benchmark BSE Sensex rebounded by 155.50 points or 0.55 per cent to 28,216.64 in early trade.