Sensex regains 27,000 mark; Rupee gains 8 paise against dollar

Mumbai, June 12:The benchmark BSE Sensex regained the 27,000 mark by soaring over 159 points in early trade today on increased buying by participants after the current account deficit (CAD) narrowed sharply to USD 1.3 billion, or 0.2 per cent of GDP, in the fourth quarter of FY15 amid positive global cues.

Rising for the second day, the 30-share index recaptured the crucial 27,000 mark by gaining 159.64 points, or 0.59 per cent, to trade at 27,000.14 as all sectoral indices, led by realty, consumer durables, healthcare, capital goods and FMCG, were trading in the positive zone with gains of up to 1.35 per cent.

The gauge had gained 359.25 points in the previous session.

On similar lines, the NSE Nifty spurted 31.80 points, or 0.39 per cent, to 8,156.25.

Brokers said a firming trend at other Asian markets following a strong closing in US markets amid hopes of a Greek debt deal buoyed trading sentiment here.

Besides, covering-up of short positions in select blue-chips by speculators supported the upside, they added.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.83 per cent while Japan’s Nikkei gained 1.44 per cent in early trade today.

The US Dow Jones Industrial Average ended 1.33 per cent higher in yesterday’s trade.

Rising for the third straight day, the rupee strengthened by another 8 paise to 63.76 against the dollar in early trade today at the Interbank Foreign Exchange on sustained selling of the US currency by exporters and banks as the current account deficit shrank in the fourth quarter.

CAD narrowed sharply to USD 1.3 billion, or 0.2 per cent of GDP, on a sequential basis, mainly on account of a lower trade gap.

Forex dealers said a higher opening in domestic stock market supported the rupee, but the dollar’s strength against other currencies overseas limited the gains.

The rupee had risen 8 paise to close at 63.84 against the greenback in yesterday’s trade on persistent dollar selling by banks and exporters on hopes of foreign capital inflows amid a strong capital market.

Meanwhile, the benchmark BSE Sensex reclaimed the 27,000 mark by surging 159.64 points, or 0.59 per cent, to 27,000.14 in early trade today.


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