IT, realty, banking lead Sensex to 109-pt rise
8 March 2013 5:01 AM IST
The BSE benchmark Sensex on Wednesday closed 109 points higher led by buying mainly in stocks of realty, capital goods, IT and banking sectors amid a firming global trend.
Rising for the second straight day, the Sensex ended 109.44 points, up to close at 19,252.61. The index had gained 265 points in the previous session.Similarly, the broad-based National Stock Exchange index Nifty rose by 34.35 points, or 0.59 per cent, to 5,818.60.Brokers said the rate-sensitive stocks rose on expectations the Reserve Bank of India might cut interest rates in its policy meeting this month.They said IT stocks rose as investors felt a weak rupee and a rally in global markets might increase revenue of software companies, which get over 60 per cent business from the US and Europe.
Rs UP 20P AGAINST $ TO END AT 54.72
In erratic movements, the Indian rupee bounced back by 20 paise to close at 54.72 against the dollar at the Interbank Foreign Exchange (Forex) market on Wednesday following firm local equities amid fresh dollar selling by exporters and some banks.
Sustained foreign funds inflow in stocks also helped the rupee recovery while late recovery in dollar overseas later put some pressure on the rupee, a forex dealer said.
Rising for the second straight day, the Sensex ended 109.44 points, up to close at 19,252.61. The index had gained 265 points in the previous session.Similarly, the broad-based National Stock Exchange index Nifty rose by 34.35 points, or 0.59 per cent, to 5,818.60.Brokers said the rate-sensitive stocks rose on expectations the Reserve Bank of India might cut interest rates in its policy meeting this month.They said IT stocks rose as investors felt a weak rupee and a rally in global markets might increase revenue of software companies, which get over 60 per cent business from the US and Europe.
Rs UP 20P AGAINST $ TO END AT 54.72
In erratic movements, the Indian rupee bounced back by 20 paise to close at 54.72 against the dollar at the Interbank Foreign Exchange (Forex) market on Wednesday following firm local equities amid fresh dollar selling by exporters and some banks.
Sustained foreign funds inflow in stocks also helped the rupee recovery while late recovery in dollar overseas later put some pressure on the rupee, a forex dealer said.
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