The rupee got a boost as stock market investors cheered the Reserve Bank's steps. Fresh dollar sales by exporters amid sustained capital inflows also supported the local currency.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
If you are not happy with the price offered at buybacks, you could be in for a long haul.
In overseas trade, the American currency traded lower against the yen and the euro in an Asian session as well as modest profit-taking after recent sharp gains
Titan was the top loser in the Sensex pack, shedding over 3 per cent, followed by M&M, HUL, Maruti, Asian Paints and IndusInd Bank. Nifty fell 91 points to 17,157.40.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
The 30-share index ended higher by 481.16 points or 1.91 per cent at 25,626.75 -- its highest closing since January 1.
The rupee resumed lower at 54.73 per dollar as against the last closing level of 54.69 on the Interbank Foreign Exchange Market.
Power, oil and gas, PSU, metal, banking, auto, capital goods, infrastructure and healthcare sector stocks witnessed heavy buying through the session.
Bharti Airtel was the top gainer in the Sensex pack, rising around 4 per cent, followed by Tech Mahindra, HDFC, Kotak Bank, M&M and HCL Tech. NSE Nifty advanced 21.85 points to 16,280.10.
Ends the August F&O series on a high tracking gains in RIL, HDFC and ITC.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
IndusInd Bank was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.
The broader markets, however, outperformed their larger peers.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Bajaj Finserv was the top gainer in the Sensex pack, soaring around 8 per cent, followed by Tata Steel, Tech Mahindra, Bajaj Finance, HDFC Bank and SBI.
Banking, realty and capital goods sectors-- the sectors which are more interest sensitive and hence battered for long now--were the winners today.
Maruti Suzuki was the biggest gainer among Sensex scrips, rising 5.89 per cent, followed by M&M up 5.29 per cent.
The Sensex had bounced back with gains of 94 points or 0.3%
India may be at the fag end of a downcycle that has lasted over 7 years
The current up move, according to analysts, closely resembles the rally post the global financial crisis in 2008-09, not just in quantum and speed, but also the way small-and mid-cap indices outperformed large-cap peers.
IndusInd Bank was the top gainer in the Sensex pack, rising nearly 6 per cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance Industries. NSE Nifty surged 183.70 points to close at 17,166.90.
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
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The local currency opened at 62.20 a dollar from the previous close of 61.93 and immediately touched a low of 62.29 at the interbank foreign exchange market.
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by TCS, Bajaj Finserv, Nestle India, Bharti Airtel, Bajaj Finance and Tech Mahindra. NSE Nifty advanced 45.95 points to 16,496.45.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards, shedding as much as 1.63 per cent.
Markets will remain closed today on account of voting for the general elections in Mumbai constituencies.
The 30-share Sensex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
IndusInd Bank, L&T, ITC, HUL, Reliance Industries and Sun Pharma were among the gainers. On the other hand, HCL Tech, Axis Bank, Asian Paints, UltraTech Cement and Infosys were among the laggards.
The 30-share Sensex ended up 204 points at 27,215 and the 50-share Nifty ended up 59 points at 8,238.
China's CSI300 stock index shed 1.1 per cent, hitting a five-week low, while shares of Hong Kong-listed Chinese companies sagged 0.9 per cent.
M&M was the top gainer in the Sensex pack, soaring over 10 per cent, followed by L&T, IndusInd Bank, Bajaj Finserv, SBI, Bajaj Finance, ICICI Bank and Kotak Bank. On the other hand, HUL, ITC, Titan TCS and Bharti Airtel were among the losers.
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
Tata Steel, SBI, Infosys and L&T were among the top gainers for the day.
Extending losses for the second straight day, the rupee declined by 11 paise to close at more than 3-week low of 66.93 against the US dollar.
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