Markets extend gains on strong rupee; IT, oil and consumer durable shine

The rupee recovered 21 paise to 72.91 against the US dollar early Tuesday on increased selling by exporters.

Markets extend gains on strong rupee; IT, oil and consumer durable shine

New Delhi: Stock markets extended gains on Tuesday on a strong recovery in rupee amidst positive global cues.

The benchmark Sensex rose 118.44 points, or 0.34 percent, to 35,069. Nifty was also trading higher by 57.10 points or 0.54 percent to 10,581.10. Markets will remain closed on Wednesday and Thursday on account of Diwali and Govardhan Puja respectively.

The rupee recovered 21 paise to 72.91 against the US dollar early Tuesday on increased selling by exporters.

In the Sensex kitty, major gainers included Tata Motors, Vedanta, TCS, RIL, Yes Bank, Infosys, Sun Pharma, Maruti Suzuki, Kotak Bank, IndusInd Bank, HDFC Bank, Bajaj Auto, Hero MotoCorp, ONGC, ITC Ltd and Axis Bank, rising by up to 3.90 percent.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 12 crore, while domestic institutional investors (DIIs) sold shares to the tune of Rs 622 crore Monday, provisional data showed.

Among the sectoral indices TECK rose the most with 1.22 percent gain, followed By Information Technology (1.20), Oil and Gas (0.60), Consumer Durables (0.44), Infrastructure (0.41), Realty (0.41), Capital Goods (0.41), Power (0.34), Auto (0.30) and Bankex (0.18).

MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent while Japan`s Nikkei gained 0.5 percent, a day after both fell more than one percent, Reuters wrote. On Wall Street, the S&P 500 gained 0.56 percent. The Nasdaq Composite fell 0.38 percent.

With Agency Inputs

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