Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
The rupee weakened by another 13 paise to 65.16 against the dollar in early trade at the interbank foreign exchange market on increased demand for the US currency from importers.
On Tuesday, the rupee had plunged by 35 paise to end at a fresh one-week low of 65.03 a dollar owing to high demand for the American currency from importers as amid spike in crude oil prices after political upheaval in Saudi Arabia.
The dollar was trading weak against world currencies, including euro and yen, in global markets which capped the rupee losses, dealers said.
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The benchmark BSE Sensex was trading higher by 52.74 points, or 0.15 per cent, at 33,423.50 in morning trade.
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