Markets rebound on firm global trends, snaps 2-day falling streak
The rupee depreciates by 5 paise to 82.23 against dollar;
Benchmark equity indices Sensex and Nifty closed over half a per cent higher on Monday, snapping their two-day falling streak on buying in index majors Reliance Industries and Tata Consultancy Services and firm global trends.
The 30-share BSE Sensex jumped 367.47 points or 0.56 per cent to settle at 66,527.67. The index opened lower but later rebounded from early lows and hit a high of 66,598.42 as power, oil, IT and FMCG shares advanced. The NSE Nifty climbed 107.75 points or 0.55 per cent to end at 19,753.80.
From the Sensex pack Power Grid, Tech Mahindra, Tata Steel, Tata Consultancy Services, Wipro, Maruti and JSW Steel were among major gainers.
Bajaj Finance, Kotak Mahindra Bank, Hindustan Unilever, ITC, Bharti Airtel and Asian Paints were among the laggards.
The rupee depreciated by 5 paise to close at 82.23 against the US dollar, tracking surging crude oil prices and a strong greenback against major rivals overseas.