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Sensex, Nifty Extend Gain On Above-Normal Monsoon, Rupee Turns Weak

न्यूज़ वर्ल्ड इंडिया | 0
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| June 23 , 2015 , 10:39 IST
[caption id="attachment_62438" align="aligncenter" width="700"]Image courtesy: PTI Image courtesy: PTI[/caption] Extending their bull run for the 8th straight session, the BSE Sensex rose by 109 and the NSE Nifty gained over 30 points in early trade, driven by above normal monsoon and positive global cues. The benchmark BSE Sensex climbed 109.61 points or 0.39 per cent to trade at 27,839.82 with capital goods, metal, PSU and healthcare stocks leading the rally. The benchmark index had gained 1,359.23 points in the previous seven sessions. The National Stock Exchange index Nifty rose 30.50 points or 0.36 per cent to 8,383.60. ALSO READ: Sensex Rallies 414 Pts As Good Monsoon Rekindle Rate Cut Hopes Sentiments remained strong after a better-than-forecasted monsoon reignited the optimism among market participants that a rate cut by the RBI may be a possibility, brokers said. Besides, fresh capital inflows by foreign funds on the domestic bourses and a firming trend in global markets on hopes for a Greek bailout deal, boosted sentiments, they said. Among other Asian markets, Hong Kong's Hang Seng index was up by 0.20 per cent, while Japan's Nikkei jumped 1.62 per cent in early trade on Tuesday. The US Dow Jones Industrial Average ended 0.58 per cent higher in Monday's trade. Meanwhile, rupee was lower by 10 paise in early trade, after four days of rise, at 63.62 against the US currency at the Interbank Foreign Exchange today due to the dollar's gain against other currencies overseas. ALSO READ: Sensex Gains More Than 160 Points; Auto Stocks Rise Forex dealers said besides dollar strengthening against other currencies overseas, fresh demand for the American unit from importers put pressure on the rupee. The domestic currency had gained three paise to end at 63.52 against the greenback yesterday on persistent selling of dollars by banks and exporters on hopes of resumption of foreign capital inflows. Meanwhile, the benchmark BSE Sensex rose 109.61 points or 0.39 per cent to 27,839.82 in early trade on Tuesday.

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