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BSE Sensex surges over 120 points; Rupee at 64.73

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Mumbai :The benchmark BSE Sensex surged over 120 points in early trade today after sentiment was bolstered on the back of Reliance Industries’ robust second-quarter earnings announced last Friday.

The 30-share index, which had gained 434.94 points in the previous two sessions, rallied 120.27 points, or 0.44 per cent, at 27,334.87, with stocks of oil and gas, realty, IT, power and capital goods, leading the upmove.
Similarly, the NSE index Nifty edged higher by 17.10 points, or 0.21 per cent, to 8,255.25.

Brokers said sustained buying by funds and retailers after Reliance Industries reported its highest ever quarterly net profit of Rs 6,720 crore for the September quarter post trading hours on Friday mainly buoyed sentiment.
Shares of RIL climbed 5.13 per cent to Rs 959 in early trade today.

However, a mixed trend in other Asian bourses restricted the rise, brokers added.

Among other Asian markets, Shanghai Composite rose 0.74 per cent while Japan’s Nikkei fell 0.57 per cent in early trade today. Hong Kong’s Hang Seng shed 0.18 per cent.

The US Dow Jones Industrial Average ended 0.43 per cent higher in the previous session on Friday. The rupee edged higher by 8 paise to trade at 64.73 against the dollar today on fresh selling of the US currency by exporters amid sustained foreign fund inflows.

Forex dealers said weakness in the American currency against others overseas and a higher opening in the domestic equity market supported the rupee.

The rupee had ended marginally higher at 64.81 against the US dollar by gaining one paisa on Friday due to fag-end selling pressure on the greenback from banks and exporters.

Persistent foreign capital inflows also boosted sentiment.

Meanwhile, the benchmark BSE Sensex was trading higher by 120.27 points, or 0.44 per cent, at 27,334.87 in early trade.

PTI