Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 35 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Sensex gains 97.50 points, rupee loses three paise
July 18, 2013
 Print    Send to Friend

MUMBAI: Bolstered by sharp rise in FMCG giants, HUL and ITC on the back of abundant rainfall this year, the benchmark S&P BSE Sensex on Wedneday recovered almost half of its overnight losses, with a rise of over 97 points to end at 19,948.73.

Overnight recovery on the back of the apex bank’s measures to curb the rupee volatility proved to be short lived as the Indian rupee fell back from its two-week intra-day high of 59.05 to close at 59.34, down by a mere three paise, against the Greenback.

The rupee moved in a wide range of 52 paise on alternate bouts of demand and supply with the confusion over the sustainability of the stability of the rupee after the Reserve Bank of India (RBI) on Monday after market hours announced slew of measures to address exchange rate volatility.

Fresh late dollar demand from importers, better dollar overseas and capital outflows also weighed on the rupee, a forex dealer said.

However, mixed to weak global trends ahead of the US

Federal Reserve Chairman Ben Bernanke’s semiannual testimony and earnings from heavyweights such as Bank of America Corp. and Intel Corp. later in the day, weighed on the market.

The Bombay Stock Exchange 30-share barometer resumed up following overnight government’s decision to relax FDI rules for a number of sectors and touched a high of 19,983.22 before falling back to a low of 19,778.54 on the back of reversal of initial firm trend in European market.

It, later, recovered on buying in blue-chip counters to end at 19,948.73, showing a rise of 97.50 points or 0.49 per cent.

Press Trust of India

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
ICICI Bank posts record profit in second quarter
MUMBAI: ICICI Bank, India’s biggest private sector lender, reported a record quarterly profit that beat analyst estimates, but bad loans rose and sent its shares lower. ..
AI signs codeshare pact with Air Astana
NEW DELHI: National carrier and Star Alliance member Air India (AI) has signed a free flow code-share agreement with Air Astana, the flag carrier of Kazakhstan, an offici..
India leads S.Asia in ease of doing business
WASHINGTON/NEW DELHI: A new World Bank Group report finds that has India set the pace for regulatory reform in South Asia since 2005 with 20 measures - the largest in the..
Delhi hikes LPG price by Rs3 per cylinder
NEW DELHI: Subsidised cooking gas rates have been hiked by Rs3 per cylinder after the Indian government raised the commission paid to dealers. The commission paid to ..
SoftBank plans to invest $10 billion in India
MUMBAI: Japanese telecom and media group SoftBank Corporation has set its sights on Indian e-commerce in its aggressive expansion drive, saying it will invest about $10 b..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright