Sensex soars 293 points to reclaim 35000 mark

08 May, 2018, 01:10 | Author: Sheri Evans
  • Sensex gains 146 points on strengthening rupee, global cues

The rupee strengthened by 8 paise to 66.79 against the dollar in early trade on Monday on fresh selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Meanwhile, the broad based NSE Nifty went up by 97.25 or 0.92% at 10,715.50 with 33 components posting rise.

The Sensex has so far touched a high of 35,061.56 and a low of 34,977.74 points.

The benchmark index of Bombay Stock Exchange (BSE) on Monday rose by 126.88 points to 35,042.25, on buying in selected stock such as realty, Metal, Auto, Bankex and capital goods.

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On Friday, the rupee had lost 23 paise to close at 66.87 against the US currency. Results are largely in line with expectation while volatility in rupee and yield and apprehensions about Karnataka election impacting the pace of rally. 30-share BSE Sensex closed at 35,208.14, up 292.76 points. "Additionally, investor sentiment improved after a tepid U.S. job data which may slow down FEDs rate hike trajectory", said Vinod Nair, Head of Research, Geojit Financial Services.

Brent crude oil futures were at Dollars 75.49 per barrel, up 62 cents, or 0.83 per cent.

On Nifty, the top gainers were GAIL, Mahindra and Mahindra and ICICI Bank, while the major losers were Lupin, Dr Reddy's Lab and TCS.

Air France shares tumble following resignation of CEO and ongoing strike action
The French Minister of Economy and Finance, Bruno Le Mairie, appealed "to reason" to striking Air France workers. Air France-KLM is one of Europe's biggest airlines, but has seen a series of strikes in recent weeks.

Wockhardt lost almost 8 per cent on account of poor March quarter earnings.

On the other hand, Reliance Infrastructure surged over 6 per cent after the company won order worth Rs 7,000 crore for Versova-Bandra Sea Link Project in Mumbai.

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Soon intense clashes rocked the area and one civilian suffered injuries and was hospitalized. Mobile Internet services also remained suspended for the second day in the region.

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