Sensex surges by 116.60 points to open at 38,761.67; Nifty at 11,700.90

The BSE Sensex jumped 116.60 points to open at 38,761.67 in early morning trade, while the NSE Nifty 50 started over 20.40 points higher at 11,700.9/

Sensex surges by 116.60 points to open at 38,761.67;  Nifty at 11,700.90

The BSE Sensex jumped 116.60 points to open at 38,761.67 in early morning trade, while the NSE Nifty 50 started over 20.40 points higher at 11,700.9/

The rupee recovered from all-time low of 71 and strengthened by 23 paise to 70.77 against the US dollar in early trade at the interbank foreign exchange market Monday amid robust growth data for the April-June quarter of current fiscal.

The 30-share index rebounded by 289.28 points, or 0.74 per cent, to quote at 38,934.35. The benchmark bourse, however, pared some gains within the first hour of the session, and was trading 153.03 points, or 0.40 per cent, higher at 38,798.10 at 1000 hrs.

The gauge had lost 251.56 points in the past three sessions.

The NSE Nifty also went past 10,700 rising 71.30 points, or 0.61 per cent, to 11,751.80.

Official data released after market hours on Friday showed India's economy grew at a two-year high of 8.2 per cent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world's fastest growing major economy.

With agency inputs

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