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 firmed up by 7 paise to 63.95 against the US dollar in early trade at the Interbank Forex market today on selling of the American currency by exporters and banks.
Besides, the dollar’s weakness against other currencies overseas on renewed geopolitical tensions after North Korea’s latest nuclear test yesterday and below expectations US jobs data for August gave the rupee strength, dealers said.
They said, however, a lower opening of the domestic equity markets, capped the gains.
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The rupee had ended lower by 12 paise against the US dollar to end at 64.02 on Friday after the latest GDP numbers showed the country’s growth slowed to a three-year low.
Meanwhile, Sensex fell 71.65 points, or 0.22 per cent, to 31,820.58 in early trade.
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