Equity indices rise on firm global cues; banking, auto stocks lead
Mumbai, July 10 : The key Indian equity indices traded in the green on Tuesday afternoon supported the broadly positive global markets.
According to market observers, healthy buying activity was witnessed in the banking, auto and metal indices.
At 12.15 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,928.25 points -- higher by 75.35 points or 0.69 per cent -- from its previous close of 10,852.90 points
The barometer 30-scrip Sensitive Index (Sensex), which had opened at 36,068.27 points, traded at 36,187.83 points (12.15 p.m.) - up by 253.11 points or 0.70 per cent -- from its previous session's close of 35,934.72 points.
The Sensex has so far touched a high of 36,195.46 points and a low of 36,019.63 points during the intra-day trade. The BSE market breadth was bullish with 1,577 advances and 741 declines.
The top gainers on the Sensex were Bajaj Auto, Reliance Industries, Tata Steel, Axis Bank and Adani Ports whereas Kotak Mahindra Bank, Sun Pharma, Larsen and Toubro (L&T), Hindustan Unilever and Mahindra nad Mahindra (M&M)were the losers.
On the NSE, Hindalco Industries, Bajaj Auto and Tata Steel were the highest gainers while Kotak Mahindra Bank, Hindustan Petroleum and Gail lost the most.
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Rupee hits all-time low for second time in a week
Mumbai (PTI): The rupee depreciated 31 paise to settle at 91.99 against the US dollar on Wednesday, touching the lowest closing level for the second time in less than a week, amid increased month-end demand for the greenback.
Forex traders said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe offered quiet reassurance. However, increased month-end demand for the American currency as well as the ongoing geopolitical tensions dented investors' sentiments.
At the interbank foreign exchange, the rupee opened at 91.60 and touched an early high of 91.50, but pared all the gains to touch an intra-day low of 91.99 against the greenback.
The domestic unit settled 31 paise down, revisiting its lowest-ever closing level of 91.99 against the greenback. The Indian currency previously ended at this level on January 23 when it also hit its all-time intraday low of 92 against the US dollar.
On Tuesday, the rupee rebounded from its all-time low levels and gained 22 paise to close at 91.68 against the US dollar.
Analysts said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe bolstered investor sentiment.
India and the European Union on Tuesday announced the conclusion of negotiations for the free trade agreement (FTA), under which a number of domestic sectors such as apparel, chemicals and footwear will get duty-free entry into the 27-nation bloc, while the EU will get access to the Indian market at concessional duty for cars and wines, an official said.
The deal has been dubbed the "mother of all deals" as it will create a market of about 2 billion people.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 96.14.
Brent crude, the global oil benchmark, was trading 0.43 per cent lower at USD 67.28 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 487.20 points to settle at 82,344.68, while Nifty surged 167.35 points to 25,342.75.
Foreign Institutional Investors turned net buyers and purchased equities worth Rs 480.26 crore on Wednesday, according to exchange data.
