Stock Market: Sensex touched 60,000 mark in early trade, but lost gains due to selling
Highlights
- Strong rise during early trading in the stock market
- BSE Sensex crossed 60,000 mark as soon as it opened
- 30-share BSE Sensex climbs 431.58 points to 60,119.80
The stock market had a very strong opening on Friday and the Sensex touched the 60,000 mark in the first hour itself. However, within a short time, profit-recovery dominated the market and the market came back to the level of 59770. According to market experts, due to investment in foreign funds and positive trend in the global markets, the market is showing a boom.
Sensex crosses 60000
On Friday morning, there was a strong rally in the stock market during early trading. BSE Sensex crossed 60,000 mark as soon as it opened. During this, the 30-share BSE Sensex rose 431.58 points to reach 60,119.80. Similarly, the NSE Nifty was up 27.2 points at 17,925.95.
There was a sharp slowdown in these stocks
In the Sensex companies, IndusInd Bank, State Bank of India, Tata Steel, Hindustan Unilever, NTPC, Infosys, Dr Reddy’s, Sun Pharma and ICICI Bank were among the gainers. At the same time, shares of Bharti Airtel, Bajaj Finserv, Nestle India and Bajaj Finance were trading in losses.
Foreign market too strong
In other Asian markets, Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai Composite were trading firm. At the same time, the US stock market closed in gains on Thursday. The BSE Sensex closed at 59,688.22 on Thursday, up 659.31 points or 1.12 per cent. Nifty also rose 174.35 points or 0.99 per cent to 17,798.75.
Rupee rose by eight paise
The rupee on Friday climbed eight paise to 79.61 against the US dollar in early trade amid a fall in the US currency against major currencies and infusion of foreign investors. In the interbank foreign exchange market, the rupee opened at 79.66 against the dollar and then came down to 79.61, registering an increase in opening deals. Thus the local unit registered a gain of eight paise over the previous closing price. The rupee on Thursday closed 26 paise lower at 79.69 against the US currency. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.72 per cent to 108.92.
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