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Sensex at 25,958; Rupee at 66.30 against US dollar

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Mumbai :Extending its winning run for the third straight session, the benchmark BSE Sensex gained 90 points to 25,958.04 in early trade today on sustained buying by participants, tracking positive cues in Asian markets.

The 30-share index, which had gained 385.97 points in the previous two sessions, was up 89.55 points or 0.34 per cent to 25,958.04 with sectoral indices led by capital goods, oil & gas, realty, power and healthcare trading in the positive zone gaining up to 0.62 per cent.

The NSE Nifty too edged higher by 15.70 points, or 0.19 per cent, to 7,872.25.

Brokers said widening of positions by investors tracking gains at other Asian bourses amid growing confidence about the US Fed raising interest rates next month coupled with weekend gains in US markets bolstered trading sentiment.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.10 per cent while Shanghai’s Composite index edged up 0.51 in early trade today. Japan’s financial markets are closed today on account of national holiday.

The US Dow Jones Industrial Average ended 0.51 per cent higher in Friday’s trade.

The rupee depreciated by 11 paise to 66.30 against the US dollar in early trade today due to appreciation in the US currency overseas.

Dealers attributed the rupee’s fall to fresh demand for the US currency from importers and banks.
However, early gains in domestic stock markets capped the rupee losses, they said.

The rupee ended steady at 66.19 per dollar on Friday against the American currency at the interbank Foreign Exchange in view of steady dollar in the overseas market.

Meanwhile, the benchmark BSE Sensex advanced by 89.55 points, or 0.34 per cent, to 25,958.04 in early trade today.

PTI