Closing Bell: Rupee recovery, rally in
index heavyweights help Nifty reclaim 11,500; Sensex up over 200 points.
Sentiment
on the market moved in tandem with the rupee’s movement on Thursday. A recovery
in the Indian rupee, after it fell to a record low of 72.10/USD, helped the
market end the day in green as well. The Nifty reclaimed 11,500-mark and ended
above the threshold.
Along
with the currency, rally in index heavyweights such as Reliance Industries and
HDFC twins helped indices see a strong surge as well. Among sectors, banks lost
some sheen in the last half hour, but strength in pharmaceuticals, energy, and
infrastructure names helped the bulls to hold their grip on the market.
Having
said that, investors will make a note of rupee’s movements ahead, with the
currency hitting 72 per dollar again at the time of market coming to
close.
At the
close of market hours, the Sensex ended higher by 224.50 points or 0.59% at
38242.81, while the Nifty closed higher by 59.90 points or 0.52% at 11536.90.
The market breadth is positive as 1,582 shares advanced, against a decline of
1,105 shares, while 191 shares were unchanged.
Reliance
Industries, Sun Pharmaceuticals, and Cipla were the top gainers, while Maruti
Suzuki, Yes Bank, Zee Entertainment and Hindalco lost the most.
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