MUMBAI, Aug 30:Benchmark BSE Sensex and Nifty soared over 2.5 per cent, logging their best single-day gain in more than three months, on Tuesday after value buying in banking, IT and oil stocks.
The 30-share Sensex jumped 1,564.45 points or 2.70 per cent to settle at 59,537.07. During the day, it zoomed 1,627.16 points or 2.80 per cent to 59,599.78.
The broader NSE Nifty advanced 446.40 points or 2.58 per cent to 17,759.30.
All the 30-Sensex components ended in the green, with Bajaj Finserv rallying 5.47 per cent followed by Bajaj Finance which jumped 4.86 per cent.
IndusInd Bank, Tech Mahindra, ICICI Bank, Kotak Mahindra Bank, Tata Steel and HDFC were among the other major winners.
Elsewhere in Asia, markets in Seoul and Tokyo ended in the green, while Shanghai and Hong Kong settled lower.
Stock markets in Europe were trading higher during mid-session deals. The US markets had ended lower on Monday.
“Today’s rebound indicates the domestic economy’s resilience in comparison to its global peers. Although the markets are currently at premium valuations, continued support from foreign investors aided domestic stocks to inch higher,” said Vinod Nair, Head of Research at Geojit Financial Services.
The BSE benchmark tanked 861.25 points or 1.46 per cent to settle at 57,972.62 points on Monday. The Nifty fell 246 points or 1.4 per cent to 17,312.90 points.
Meanwhile, the international oil benchmark Brent crude declined 2.60 per cent to USD 102.52 per barrel.
Foreign institutional investors (FIIs) offloaded shares worth Rs 561.22 crore on Monday, according to exchange data. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee rises 47 paise to close at 79.44 against US dollar
Mumbai, Aug 30:
The rupee appreciated by 47 paise to close at 79.44 (provisional) against the US dollar on Tuesday, supported by a firm trend in domestic equities.
At the interbank forex market, the local unit opened at 79.92 against the greenback. It witnessed an intra-day high of 79.44 and a low of 79.92 against the American currency during the session.
It finally ended at 79.44 against the US dollar, up 47 paise from its previous close of 79.91.
In the previous session, the rupee depreciated 7 paise to close at 79.91 against the American dollar. The rupee fell to its all-time low of 80.15 against the US dollar in intra-day trade.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, slipped 0.06 per cent to 108.76.
Brent crude futures, the global oil benchmark, fell 2.23 per cent to USD 102.75 per barrel.
“Indian rupee outperformed among the regional currencies following month-end rebalancing inflows and recovery in risk assets on the expectation of inflows. Most of the Asian currencies firmed after a sharp drop on Monday,” said Dilip Parmar, Research Analyst, HDFC Securities.
Parmar further said that the rupee registered the biggest one-day gains after July 29, and Tuesday’s move affirms the short-term reversal in the trend and “we could see further appreciation towards 79.20 and 78.70 while breaking of 79.80 will negate the said view,” he said.
On the domestic equity market front, the BSE Sensex ended 1,564.45 points or 2.70 per cent higher at 59,537.07 points, while the broader NSE Nifty gained 154.10 points or 0.89 per cent to 17,467.00.
Foreign institutional investors remained net sellers in the capital market on Monday, offloading shares worth Rs 561.22 crore, as per exchange data. (AGENCIES)
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