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Thursday, May 28, 2020

Stocks trade in green as rupee surges 30 paise against USD in early trade

Sensex was trading higher by 63.75 points at 36,699.85 while Nifty was quoted higher by 6.80 points at 11,059.80. The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade Thursday.

By: PTI | Mumbai | Published: March 7, 2019 10:14:48 am
Stocks trade in green as rupee surges 30 paise against USD in early trade Sensex falls over 100 points in early trade; ONGC rallies 6 per cent

Indian bourses continued their rising spree to the fourth session on Thursday, with both benchmarks Sensex and Nifty opening higher amid strengthening of country’s macroeconomic outlook following rising rupee and falling crude prices.

The 30-share BSE Sensex was trading higher by 63.75 points, or 0.17 per cent, at 36,699.85. Similarly, the NSE’s 50-scrip Nifty was quoted higher by 6.80 points, or 0.062 per cent, at 11,059.80.

PowerGrid, HUL, Reliance were among the top gainers on the BSE Sensex.

The Sensex had gained over 193 points to close at 36,636.10 on Wednesday. The NSE gauge Nifty also rose over 65 points to end above the psychologically key 11,000 level.

Besides, a constant moderation in prices of Brent crude, global benchmark, boosted India’s macro-economic outlook.

Foreign portfolio investors (FPIs) purchased shares worth Rs 1,130.78 crore, while domestic institutional investors (DIIs) offloaded equities to the tune of Rs 878.45 crore Wednesday, provisional data showed.

Rupee surges 30 paise against US dollar

The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade Thursday, driven by foreign inflows and positive opening in domestic equities.

The rupee opened strong at 70.08 at the interbank forex market and then gained further ground and touched 69.98, a gain of 30 paise over its last close.

Forex dealers said selling of the American currency by exporters supported the rupee, but rising crude prices weighed on the local unit and capped the upmove. Besides, fresh foreign fund inflows also boosted sentiments in domestic the forex market, they added.

The rupee Wednesday had strengthened by 21 paise to close at 70.28 against the US dollar.

Brent crude futures, the global oil benchmark, rose 0.48 per cent to trade at USD 66.31 per barrel.

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