Business

Sensex Fumbles After Early Gains, Rupee Up Against Dollar

NEWS WORLD INDIA | 0
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| May 15 , 2015 , 12:29 IST
In a volatile trade, the benchmark BSE Sensex on Friday recovered part of its overnight losses and was trading higher by 32 points at 27,238.01 in late morning deals following a slowdown in selling by foreign funds amid short-covering. The BSE 30-share barometer resumed better and immediately touched a high of 27,379.57, up 173.48 points, or 0.64 per cent. However, it met with strong resistance and fell to a low of 27,159.76, before recovering 31.95 points, or 0.12 pct, to quote at 27,238.01 at 1045 hours. On day, it ended lower by 45.04 points, or 0.17 per cent. Similarly, the Nifty gyrated in a range of 8,279.20 and 8,212.20 before trading at 8,241.90 at 1045 hours, a rise of 17.70 points, or 0.22 per cent. The rupee was quoting higher by eight paise at 63.57 against the greenback in late morning deals following firm local equities amid sustained dollar selling by exporters. Sustained capital outflows and almost stable dollar overseas restricted the rupee rise, a forex dealer said. At the Interbank Foreign Exchange (Forex), the domestic unit commenced strong at 63.50 a dollar from previous close of 63.65 and later moved in a range of 63.46 and 63.58 before being quoted at 63.57 at 1050 hrs, revealing a rise of eight paise or 0.13 per cent.