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Tuesday, December 10, 2019

Market opens higher ahead of RBI policy decision, rupee up by 11 paise vs dollar

Besides, a mixed trend at other Asian bourses influenced the trading sentiment in the domestic market. The rupee strengthened by 11 paise to 67.04 against the dollar at the interbank forex market

By: PTI | Mumbai | Published: June 6, 2018 11:28:05 am
Market opens higher ahead of RBI policy decision, rupee up by 11 paise vs dollar The 30-share index recovered by 69.38 points, or 0.19 per cent, to 34,972.59. (File)

The BSE Sensex rebounded over 69 points in opening trade, breaking its three-day losing run, ahead of the RBI’s bi-monthly policy meet outcome due later in the day. The 30-share index recovered by 69.38 points, or 0.19 per cent, to 34,972.59. It had lost 419.17 points in the previous three sessions. Sectoral indices led by FMCG, auto, metal,IT and capital goods rose by up to 0.30 per cent. The NSE Nifty also went up by 22.65 points, or 0.21 per cent, to 10,615.80. Brokers said investors were seen raising their bets ahead of the monetary policy announcement.

Besides, a mixed trend at other Asian bourses influenced the trading sentiment in the domestic market. Shares of Bharti Airtel, Coal India, L&T, Tata Motors, M&M, Adani Ports, ITC, Sun Pharma, Bajaj Auto, Maruti Suzuki, Power Grid and Infosys climbed up to 1.48 per cent.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 474.33 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 157.51 crore yesterday, as per provisional data.

Among other Asian markets, Japan’s Nikkei rose 0.19 per cent, while Hong Kong’s Hang Seng edged up 0.31 per cent in their early trade. However, Shanghai Composite Index shed 0.15 per cent. The US Dow Jones Industrial Average ended 0.06 per cent lower in yesterday’s trade.

The rupee strengthened by 11 paise to 67.04 against the dollar at the interbank forex market today ahead of the announcement of RBI’s monetary policy amid fresh selling by exporters and higher opening of the domestic equity markets.

Dealers said besides fresh selling of dollar by exporters, dollar’s weakness against some currencies overseas amid lingering concerns about global trade supported the rupee. Yesterday, the rupee had shed 4 paise to end at 67.15 against the US dollar.The benchmark BSE Sensex recovered by 69.38 points, or 0.19 per cent, to 34,972.59 in opening trade today.

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