Equity Markets Recover on Value Buying, Rupee Falls 18 paise 

Mumbai: Value buying and short covering on Thursday aided the Indian equity markets to close marginally in the green on Thursday. The key indices recovered in the last session of the day’s trade, as healthy buying was witnessed in fast moving consumer goods (FMCG) and oil and gas stocks.

The wider Nifty inched up by 19.75 points or 0.23 per cent to 8,595.05 points. Similarly, the market barometer 30-scrip Sensex closed at 27,859.60 points, up 84.72 points or 0.31 per cent, from the previous close at 27,774.88 points.

Opened at 27,805.94 points, Sensex touched a high of 27,902.39 points and a low of 27,697.33 points during the intra-day trade. The BSE market breadth was tilted in favour of the bears with 1,506 declines and 1,175 advances.

On Wednesday, the benchmark indices had closed deep in the red due to profit booking, negative global cues and caution over upcoming quarterly results. The Sensex had plunged by 310.28 points or 1.10 per cent to 27,774.88 points, while the Nifty fell by 102.95 points or 1.19 per cent to 8,575.30 points.

Stocks traded flat during the mid-afternoon session. The key indices were depressed due to profit booking, negative global cues and caution over the upcoming macro-economic data. Heavy selling pressure was witnessed in automobile, metal and capital goods stocks.

Stocks traded flat during the mid-afternoon session. The key indices were depressed due to profit booking, negative global cues and caution over the upcoming macro-economic data. Heavy selling pressure was witnessed in automobile, metal and capital goods stocks.

Forex Market

Rupee slips 18 paise against US dollar at 66.90 on Thursday on higher demand for the American currency from importers and banks amid a lower opening in the domestic equity market.

Dealers attributed the rupee’s fall to increased demand for the US currency, but dollar’s weakness against some currencies overseas restricted the losses.
The rupee had ended higher by 12 paise at 66.72 against the US currency in yesterday’s trade on dollar selling by banks and exporters on the back of persistent foreign capital inflows.

Source: IANS