Ahead of G20 summit, sensex rises over 100 points, rupee slips 17 paise to 69.32https://indianexpress.com/article/business/market/sensex-rises-over-100-pts-nifty-above-11850-and-rupee-slips-17-paise-to-69-32-5802170/

Ahead of G20 summit, sensex rises over 100 points, rupee slips 17 paise to 69.32

According to experts, equities are rallying globally as investors hope for progress in US-China trade talks at the G-20 summit scheduled to be held in Osaka, Japan, on June 28-29. The domestic unit had settled at 69.15 against the US dollar Wednesday.

Sensex rises over 100 pts, Nifty above 11,850 and rupee slips 17 paise to 69.32
Top gainers in the Sensex pack included Tata Motors, IndusInd Bank, ONGC, Axis Bank, M&M, L&T, NTPC, Maruti and HUL, rising up to 1.43 per cent.

Domestic equity benchmark BSE Sensex rose over 100 points in early trade Thursday tracking positive cues from global markets ahead of the G20 summit. The 30-share index was trading 88.07 points or 0.22 per cent, higher at 39,680.15 at 0930 hours. Similarly, the broader NSE Nifty was quoting 25.20 points, or 0.21 per cent, up at 11,872.75.

In the previous session Wednesday, the BSE gauge finished 157.14 points, or 0.40 per cent, higher at 39,592.08, and the broader NSE Nifty jumped 51.10 points, or 0.43 per cent, to 11,847.55. Top gainers in the Sensex pack included Tata Motors, IndusInd Bank, ONGC, Axis Bank, M&M, L&T, NTPC, Maruti and HUL, rising up to 1.43 per cent.

While, TechM, Sun Pharma, HCL Tech, PowerGrid, Bajaj Auto, RIL, HDFC Bank and Bharti Airtel fell up to 1.14 per cent.

According to experts, equities are rallying globally as investors hope for progress in US-China trade talks at the G-20 summit scheduled to be held in Osaka, Japan, on June 28-29.

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Elsewhere in Asian, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading significantly higher in their respective early sessions. Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 106.26 crore, while domestic institutional investors sold shares to the tune of Rs 51.47 crore, provisional data available with stock exchanges showed Wednesday.

On the currency front, the rupee depreciated 17 paise to 69.32 against the US dollar in opening trade Thursday as the strengthening of the American currency in the overseas market weighed on the local unit. Forex traders said rupee is trading in a narrow range as market participants are trading the cautious path amid rising tensions between the US and Iran.

The rupee opened weak at 69.29 at the interbank forex market and then fell further to 69.32, down 17 paise over its last close.

The domestic unit had settled at 69.15 against the US dollar Wednesday. On the global front, the trade concerns between the US and China, and rising US-Iran tensions are poised to dominate a high-stakes G20 summit from Friday.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13 per cent to 96.34. Meanwhile, brent crude futures, the global oil benchmark, eased 0.39 per cent to USD 66.23 per barrel.