Sensex rebounds from 3-1/2 month low by 219 points
The benchmark BSE Sensex on Tuesday reversed its three-session fall by rising 219 points to settle at 27,396.38 as blue-chips ICICI Bank and Maruti Suzuki jumped on better-than-expected earning numbers.
Recovery in the rupee that strengthened to Rs 63.12 against the dollar (Intra-day) too boosted sentiments. Snapping its three-day losing streak, the Sensex opened on a strong footing at 27,215.61 and rose further to 27,365.72 in early trade on emergence of value-buying.
However, it succumbed to profit-booking and slipped into the negative zone to touch a low of 27,073.25, but staged a strong comeback on a flurry of buying in last one hour to hit the session’s high of 27,482.14 before settling 219.39 points or 0.81 per cent higher at 27,396.38. The 50-share NSE Nifty gained 71.80 points or 0.87 per cent to close at 8,285.60. Intra-day, it regained the 8,300-mark to touch day’s high of 8,308 and a low of 8,185.15.
Gains 33p to 63.15 per $ in 2nd rise in row
The rupee on Tuesday maintained its winning streak for the second straight day by gaining 33 paise to close at 63.15 against the American currency on persistent selling of dollars by banks and exporters.
Strong recovery in the equity market, which saw the benchmark Sensex rising by 219.39 points on Tuesday, also boosted the rupee value against the dollar, a forex dealer said.
The rupee resumed higher at 63.35 per dollar as against the last closing level of 63.48 and moved in a range of 63.45 and 63.11 before concluding the day at 63.15, disclosing a gain of 33 paise or 0.52