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Sensex ends 206 points up; Reliance Infra surges 4 per cent


Updated: August 23, 2013, 9:47 AM IST
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Sensex ends 206 points up; Reliance Infra surges 4 per cent
The BSE Midcap and Smallcap indices rose 0.9 per cent each.

Mumbai: 3:00 pm: The Sensex is up 215.34 points or 1.18 per cent at 18528.28, and the Nifty is up 62.85 points or 1.16 per cent at 5471.30, led by private banks, oil and gas, capital goods and metals stocks.

The BSE Midcap and Smallcap indices rose 0.9 per cent each. Capital Goods, Bankex, Auto, Oil & Gas, Power, IT and Metal indices jumped 1-2 per cent.

Tata Power and Jindal Steel shares rallied more than 4 per cent.

The market looks feeble once again as it quickly slipped in the red just as it opened in positive terrain. The Sensex slips 1.58 points or 0.01 per cent at 18311.36 and the Nifty is holding 5400, up 0.15 points at 5408.60. About 305 shares have advanced, 102 shares declined, and 25 shares are unchanged.

The rupee recovered further on Friday, opening 25 paise higher at 64.30 per dollar as against previous close of 64.55 per dollar. The currency had touched a record low of 65.56 per dollar Thursday, but later on, it had managed to recover from that level to close at 64.55.

Himanshu Arora of Religare feels the slide in rupee may pause on the back of recent steps by the government to curb the downfall in domestic currency and indications by the US Fed that they are not in a hurry to withdraw its stimulus programme.

According to him, the range for the rupee is seen between 64 to 65.15/USD.

The euro was trading around 1.33 to the dollar. The dollar index rose marginally to 81.50 level.

Meanwhile, RBI's annual report said a recovery is possible by the end of the year on the back of better agricultural growth. It said household financial savings are up and investment in gold is down. It added that expects current account deficit to come down from the second quarter.

Ratings agency Fitch has dispelled some fears that India may be staring at a ratings downgrade. It has maintained its stable outlook for India's triple-B-minus rating.

In the global front, US markets rebounded to close higher on Thursday and Europe too clocked in gains on the back of upbeat PMI data. Indian indices reversed all the previous day's losses with the Sensex gaining more than 400 points while the Nifty gained 105.90 points to shut at 5408.45.

Asian markets were trading positive in morning with Japan up over 2 per cent.

Brent crude continued to hover around USD 109 per barrel. From precious metals space, gold rose slightly following bullish Chinese manufacturing data.

First Published: August 23, 2013, 9:47 AM IST
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