Re re­cov­ers 7 paise on Sen­sex re­bound

The Political and Business Daily - - FRONT PAGE - PBD BUREAU/PTI MUM­BAI, JUNE 24

MUM­BAI:

The ru­pee on Tues­day re­cov­ered by 7 paise to close at 60.13 against the dol­lar on the back of a sharp rise in lo­cal eq­ui­ties. Fresh dol­lar sell­ing by ex­porters and a weak dol­lar over­seas also aided the ru­pee rise while sus­tained cap­i­tal out­flow curbed the surge.

F ALL in the global crude oil prices eased in­fla­tion con­cerns help­ing the bench­mark Sen­sex to­day to rise about 338 points to 25,368.90, its big­gest gain in more than two weeks.

Oil prices slipped on re­ced­ing fears that the cri­sis in Iraq could re­sult in a ma­jor sup­ply dis­rup­tion. US bench­mark West Texas Intermediate fell 54 cents to $105.63 per bar­rel and Brent eased 63 cents to $113.69.

Firm Asian cues af­ter data showed that Chi­nese man­u­fac­tur­ing grew in June for the first time this year, too boosted the over­all sen­ti­ment. Re­gional in­dices closed higher with gains of upto 1 per cent.

Eq­uity bro­kers also said hec­tic short-cover­ings ahead of the ex­piry of June con­tract on Thurs­day also helped In­dian in­dices Sen­sex and Nifty script a smart re­bound.

The BSE 30-share Sen­sex re­sumed strong in line with firm Asian mar­kets and grad­u­ally im­proved fur­ther to set­tle at 25,368.90, a rise of 337.58 points or 1.35 per cent. This is its big­gest rise in ab­so­lute terms since June 6, 2014 when it had shot up by 376.95 points.

Be­fore to­day, the Sen­sex had tum­bled by 489.87 points in the pre­vi­ous four straight ses­sions on ris­ing oil prices and fore­casts of be­low-aver­age mon­soon rains.

The 50-is­sue CNX Nifty of the NSE to­day jumped 86.85 points, or 1.16 per cent, to end at 7,580.20.

Bar­ring health­care, 11 BSE sec­toral in­dices closed with gains with realty, con­sumer durable, oil&gas, power, bank­ing, metal and auto tak­ing the lead.

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