Early trade saw the BSE Sensex and Nifty rise 341.76 points. Axis Bank, Bajaj Finserv, and Reliance Industries gained. A weak US dollar and decreasing crude oil prices boosted the rupee for the seventh straight session.
Global cues lifted equity benchmarks Thursday morning. Early trade saw the 30-share BSE Sensex increase 341.76 points to 71,999.47. The Nifty gained 107.8 points to 21,726.50.
Axis Bank, Bajaj Finserv, Bajaj Finance, Reliance Industries, IndusInd Bank, and NTPC rose Sensex points. Infosys, Nestle, Wipro, and HDFC Bank lagged. In Asia, Seoul, Tokyo, Shanghai, and Hong Kong rose. US stocks rose Wednesday.
Brent increased 0.39 percent to USD 77.11. On Wednesday, FIIs sold Rs 1,721.35 crore in stocks, per exchange data.
Against a weak US dollar and dropping crude oil prices, the rupee held stable for the seventh straight session and gained 2 paise to 83.01 on Thursday morning.
Forex experts said strong local share market buying bolstered the Indian currency as investors awaited US inflation data.
At the interbank foreign exchange, the native currency opened at 83.05 and decreased to 83.06. It rose 2 paise to 83.01 from its close.
Conclusion
On Thursday morning, the BSE Sensex surged 341.76 points and the Nifty 21,726.50. Axis, Bajaj Finserv, Finance, Reliance Industries, IndusInd Bank, and NTPC gained. Tokyo, Shanghai, Hong Kong, and Seoul climbed. Foreign institutional investors sold Rs 1,721.35 crore in equities as Brent crude rose 0.39 percent to USD 77.11.
