Rupee recovery, value buying buoy equity indices (Second Lead)
Wednesday - September 12, 2018 4:55 pm ,
Category : BUSINESS
Rupee recovery, value buying buoy equity indices (Second Lead)
Mumbai Sep 12 (IANS) A recovery in the rupee value along with value buying buoyed the key Indian equity indices on Wednesday.
The key equity indices -- S&P BSE Sensex and NSE Nifty50 -- which had a gap-up opening traded in a flat-to-negative range as investors were cautious over the upcoming macro-economic inflationary data point.
However the key indices reversed the bearish trend after the mid-afternoon session as healthy buying was witnessed in FMCG metal and capital goods counters.
In the past two trade sessions the Sensex had shed nearly 1 000 points and gave investors an opportunity to pick up stocks on an attractive valuations.
On the currency front the Indian rupee registered a recovery at 72.11 at 4.00 p.m. after it touched a new low of 72.91 earlier in the day.
At the provisional closing time the wider Nifty50 on the National Stock Exchange stood at 11 369.90 points higher by 82.40 points or 0.73 per cent from the previous close of 11 287.50 points.
The BSE Sensex which had opened at 37 546.42 points provisionally closed at 37 717.96 points higher by 304.83 points or 0.81 per cent from the previous close of 37 413.13 points.
It touched a high of 37 752.58 points and a low of 37 342 points during the day.
--IANS ravi-rv/sed
The key equity indices -- S&P BSE Sensex and NSE Nifty50 -- which had a gap-up opening traded in a flat-to-negative range as investors were cautious over the upcoming macro-economic inflationary data point.
However the key indices reversed the bearish trend after the mid-afternoon session as healthy buying was witnessed in FMCG metal and capital goods counters.
In the past two trade sessions the Sensex had shed nearly 1 000 points and gave investors an opportunity to pick up stocks on an attractive valuations.
On the currency front the Indian rupee registered a recovery at 72.11 at 4.00 p.m. after it touched a new low of 72.91 earlier in the day.
At the provisional closing time the wider Nifty50 on the National Stock Exchange stood at 11 369.90 points higher by 82.40 points or 0.73 per cent from the previous close of 11 287.50 points.
The BSE Sensex which had opened at 37 546.42 points provisionally closed at 37 717.96 points higher by 304.83 points or 0.81 per cent from the previous close of 37 413.13 points.
It touched a high of 37 752.58 points and a low of 37 342 points during the day.
--IANS ravi-rv/sed
