Mkts ride on global cues, nflows to hit record high
E BSE jumped 167 nts to settle at 296.91 while the ty closed the day 7,377.80 points
Equity benchmark ex jumped over 160 points ose at its fresh lifetime peak onday, driven by gains in x majors Reliance Indusand Infosys amid strong al cues and unabated forcapital inflows. e 30-share index settled 6 points or 0.29% higher at 96.91. It touched an intraecord of 58,515.85. milarly, the broader NSE
climbed 54.20 points or % to its new closing record 377.80. During the session, uched an all-time peak of 9.55.
CL Tech was the top gainer e Sensex pack, rising over followed by Infosys, Reliindustries, Tech Mahindra, j Auto and M&M. n the other hand, Indusind , Kotak Bank Bank, Power , Sun Pharma and Asian ts were among the lags.
Asia, bourses in Shanghai l, Tokyo and Hong Kong d with significant gains. uities in Europe were tradn a positive note in midon deals. ndian markets started on a ive note following positive n markets cues as US Fed’s ening fears cool off followisappointing jobs data and
chairman comments hasising the need for nger jobs data before the ral bank would start to ind its massive bond-buyrogramme. uring the afternoon ses, markets continued to e in the positive zone as ers continue to get encourent with regular foreign capital inflows on the back of strong global cues and domestic economic activity,” said Narendra Solanki, head—equity Research (Fundamental), Anand Rathi Shares & Stock Brokers. Meanwhile, international oil benchmark Brent crude rose 0.80% to $72.03 per barrel. Foreign institutional investors were net buyers in the capital market on Friday, as they purchased shares worth ₹768.58 crore, as per exchange data.
Meanwhile, the rupee on Monday declined by 8 paise to close at 73.10 against the US currency mainly due to the dollar’s gains in the global markets.
At the interbank foreign exchange market, the domestic currency opened flat at 73.02 but later lost ground to touch a low of 73.11 in the day trade.
On Friday, the rupee had settled at 73.02 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, traded 0.28% higher at 92.29. Brent crude futures, the global oil benchmark, fell 0.63% to $72.15 per barrel.
Analysts said the US Treasury yields rising to more than oneweek high supported the greenback which had dropped to around month’s low last week.
“RBI intervention remains a major factor supporting USDINR near 73 levels. However, upside remains capped near 73.40 as exporters remain active sellers,” said Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives
at Kotak Securities Ltd.
According to Jateen Trivedi, Senior Research Analyst at LKP Securities, the rupee traded near 73.10 compared to 73.00 previously due to gains in the dollar index which took support near 92.00 and scanned towards 92.25.
Trivedi mentioned that the rupee has moved in line with record breaking run in the stock markets and any profit booking in equity shall result in profit booking in rupee as well.
“The range for rupee can be between 72.85-73.40,” Trivedi said.
On the other hand, gold in the national capital on Monday declined ₹71 to ₹46,503 per 10 gram in line with weak global precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹46,574 per 10 grams.
In contrast, silver gained Rs 263 to ₹64,168 per kilogram from ₹63,905 per kilogram in the previous trade.