BSE Sensex recover over 204 points; Rupee at 66.34 against US dollar

Mumbai :The benchmark BSE Sensex recovered over 204 points in early trade today on buying in select blue-chip stocks ahead of IIP and inflation data to be released later in the day amid mixed global cues.

The 30-share index rose by 204.65 points or 0.80 per cent at 25,826.82 in early trade. All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.

The gauge had lost 97.41 points in yesterday’s volatile session.

The National Stock Exchange index Nifty scaled the 7,800-mark by surging 66.20 points, or 0.85 per cent, to 7,854.30.

Stock brokers said fresh positions created by participants ahead of key economic data—industrial production (IIP) numbers for July and consumer price inflation (CPI) for August — to be released later in the day, contributed to the rise.

Moreover, a mixed trend at other Asian bourses and overnight gains on the US markets, positively impacted sentiments, they added.

Among Asian markets, China’s main Shanghai Composite Index fell 0.09 per cent, Hong Kong’s Hang Seng up 0.68 per cent while Japan’s Nikkei shed 0.05 per cent in morning trade today.

The US Dow Jones Industrial Average ended 0.47 per cent higher in yesterday’s trade.

The rupee recovered 9 paise at 66.34 against the dollar in early trade today on fresh selling of the US currency by exporters.

Forex dealers said dollar’s weakness against major currencies overseas and early gains in domestic equity markets supported the rupee.

The rupee had slipped marginally by two paise at 66.43 against the US dollar yesterday on good demand for the greenback from banks and importers.

The benchmark BSE Sensex rose 204.65 points, or 0.80 per cent, to 25,826.82 in early trade.