On Monday, the BSE Sensex and Nifty rose. Larsen & Toubro, Axis Bank, and Mahindra & Mahindra benefited most. The rupee rose 5 paise against the dollar.
Global markets rallied Monday, lifting equity benchmark indices. Early trade saw the 30-share BSE Sensex rise 471.45 points to 64,835.23. The Nifty rose 126.75 to 19,357.35.
Larsen & Toubro, Axis Bank, Nestle, JSW Steel, IndusInd Bank, and Mahindra & Mahindra gained the most on the Sensex. Tata Motors and State Bank of India lagged.
In Asia, Seoul, Tokyo, Shanghai, and Hong Kong traded green. This Friday, US markets closed positive. Brent oil rose 0.37 percent to USD 85.20 a barrel.
Currency rises versus dollar
Risk-on emotions drove the rupee up 5 paise to 83.15 against the US dollar in early trade on Monday, mirroring strong domestic markets.
After October’s slower-than-expected US job growth, forex traders said the rupee soared as the US dollar fell.
At the interbank foreign exchange, the rupee began at 83.17 against the dollar and reached an early high of 83.15, up 5 paise.
Conclusion
On Monday, equity benchmark indices rose, reflecting worldwide market optimism. The BSE Sensex rose 471.45 points to 64,835.23, and the Nifty 126.75 to 19,357.35. The rupee’s 5 paise increase versus the US dollar to 83.15 boosted optimism.
Indian markets rallied due to reducing global recession fears, solid corporate profits, and central bank monetary policy assistance. The rupee strengthened when the US dollar weakened after slower-than-expected job growth in October.
The Indian market is rising and the rupee is stable. Investors and businesses embrace this.
