Sensex jumps over 200 points in early morning trade, Nifty above 10,650

The rupee recovered from its record low by rising 18 paise to 68.61 against the US dollar in early trade today on fresh selling of the American currency by banks and exporters.

Sensex jumps over 200 points in early morning trade, Nifty above 10,650

New Delhi: Stock markets opened in green on Friday on value buying amid recovery in the rupee and positive cues from global markets.

The BSE Sensex jumped 202.52 points or 0.58 percent at 35,240.16 in early morning trade. In similar fashion the NSE Nifty edged up 66.15 points or 0.62 percent at 10,655.25.

Major gainers were Tata Steel, SBIN, Vedanta Limited, ONGC, Reliance, Bajaj Auto, L&T, Sun Pharma, Yes Bank, ICICI bank, Coal India and ITC, rising by upto 2.97 percent.

The rupee recovered from its record low by rising 18 paise to 68.61 against the US dollar in early trade today on fresh selling of the American currency by banks and exporters.

The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 442.64 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 951.51 crore yesterday, as per provisional data.

Asian share markets rallied from nine-month lows on Friday, after China eased foreign invesment limits, but underlying sentiment was dampened by worries over trade frictions a week before initial U.S. and Chinese tariffs were set to take effect.

MSCI`s broadest index of Asia-Pacific shares outside Japan was 1 percent higher, while Australian shares were flat. Japan`s Nikkei stock index was down 0.3 percent, and South Korea`s KOSPI was down slightly.

The blue-chip CSI300 index gained 1.5 percent, and the Shanghai Composite index was 1.1 percent higher.

Hong Kong`s Hang Seng index rose 1.2 percent.

With Agency Inputs

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