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Sensex Spurts 447 Pts To Reclaim 50,000-Level; Gold Tumbles Rs 679

Mumbai: The BSE Sensex zoomed 447 points to settle above the psychological 50,000-mark on Tuesday, buoyed by hectic buying in auto, banking and IT counters amid positive domestic and global cues.

The 30-share index swung nearly 633 points during the session, before ending at 50,296.89, showing a rise of 447.05 points or 0.90 per cent.

Likewise, the NSE Nifty climbed 157.55 points or 1.07 per cent to settle at 14,919.10.

On the Sensex chart, M&M, NTPC, Bajaj Auto, Tech Mahindra, TCS and Maruti emerged as top gainers.

On the other hand, ONGC, HDFC, Dr Reddy’s, PowerGrid and SBI suffered losses.

Of the Sensex constituents, 25 shares ended with gains.

Analysts said investor sentiment remained upbeat due to encouraging GDP numbers for the third quarter as well as returning of calmness in global bond markets after the last week’s turmoil.

Elsewhere in Asia, bourses closed with significant gains for the second straight session after halt in sell-offs in global bond markets calmed investor sentiments.

Meanwhile, Brent Futures rose 0.71 per cent to trade at 63.76 per barrel.

On the forex market front, the rupee surged by 18 paise to close at 73.37 against the US dollar on Tuesday.

Rupee Gains 18 Paise To Settle At 73.37 Against USD

The rupee rose by 18 paise to end at 73.37 (provisional) against the US dollar on Tuesday, supported by positive domestic equities amid improving risk appetite.

At the interbank forex market, the local unit opened at 73.32 against the greenback and witnessed an intra-day high of 73.31 and a low of 73.48.

It finally ended at 73.37 against the American currency, registering a rise of 18 paise over its previous closing. On Monday, the rupee had settled at 73.55 against the American currency.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.28 per cent to 91.29.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.05 per cent to USD 63.66 per barrel.

On the domestic equity market front, the BSE Sensex ended 447.05 points or 0.90 per cent higher at 50,296.89, while the broader NSE Nifty advanced 157.55 points or 1.07 per cent to 14,919.10.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 125.15 crore on Monday, according to exchange data.

Gold Tumbles Rs 679, Silver Crashes Rs 1,847

Gold prices on Tuesday tumbled Rs 679 to Rs 44,760 per 10 grams in the national capital, due to bleak international market trend and rupee appreciation, according to HDFC Securities.

The precious metal had closed at Rs 45,439 per 10 grams in the previous close.

Silver also crashed by Rs 1,847 to Rs 67,073 per kg from the closing of Rs 68,920 per kg in the previous day trade.

HDFC Securities Senior Analyst (Commodities) Tapan Patel, “Spot prices for 24 karat gold at Delhi plunged by Rs 679 with fall in global gold prices and rupee appreciation.”

The spot rupee was trading around 14 paise stronger against the US dollar during the day, he added.

In the international market, gold was trading lower at USD 1,719 an ounce and silver was down at USD 26.08 an ounce.

(This story is a compilation of PTI stories)

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