Sensex surges in volatile trade; rupee weakens
September 16 2020 12:13 AM
The rupee pared early gains to settle 16 paise lower at 73.64 against the US dollar yesterday

Bloomberg, Reuters/Mumbai

In volatile trade yesterday, the Sensex closed 288 points, or 0.7%, higher at 39,044.35 while Nifty settled 82 points up at 11,521.80. BSE MidCap and SmallCap indices outperformed the benchmarks, closing 0.8% and 1.4% higher, respectively.
Nifty Pharma rose the most among sectoral indices, up over 2% followed by Nifty Private Bank, Nifty Financial Services and Nifty IT. Nifty Auto and Nifty FMCG closed in the red.
IndusInd Bank, Cipla, UPL, Axis Bank and Bharti Airtel were the top gainers on the Nifty50 while Titan, Maruti Suzuki, HDFC Life Insurance, Eicher Motors and ITC fell the most.
Meanwhile the rupee pared early gains to settle 16 paise lower at 73.64 (provisional) against the US dollar yesterday even as domestic equity market traded in the positive territory.
At the interbank forex market, the domestic unit witnessed high volatility. It opened on a strong note at 73.33, but lost ground during the day and finally closed at 73.64 against the US dollar, registering a fall of 16 paise over its previous close of 73.48.
During the session, the local currency witnessed an intra-day high of 73.33 and a low of 73.72 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.16% to 92.90.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 266.63 points higher at 39,023.26, and the broader NSE Nifty advanced 78.35 points to 11,518.40.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs298.22 crore on a net basis on Monday, according to exchange data.
Brent crude futures, the global oil benchmark, rose 0.28% to $39.72 per barrel.

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