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MARKET WRAP: Sensex ends 305 pts higher, Nifty at 11,370 as rupee recovers

SI Reporter/New Delhi 12 Sep 18 | 08:15 AM

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The benchmark indices ended higher as the rupee recovered after hitting a record low of 72.91 against US dollar and value buying at lower levels.

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The S&P BSE Sensex ended at 37,718, up 305 points while the broader Nifty50 index settled at 11,370, up 82 points.

Among sectoral indices, the Nifty FMCG index ended 2.5 per cent led by a rise in the share prices of GlaxoSmithKline Consumer Healthcare and ITC. The Nifty Pharma index, too, rose 1.1 per cent led by Sun Pharmaceutical Industries.

The markets will remain closed on Thursday on account of Ganesh Chaturthi. On Friday, the investors will react to July industrial production and August CPI inflation data, which will be announced later today.

Rupee recovers from record low of 72.91/$

The rupee bounced back from its fresh lifetime low, recovering around 70 paise to trade at 72.20 against the greenback.

Earlier in the day, it hit a new record low of 72.91 per dollar, weighed down by inflationary concerns and amid weakness in global currencies against the dollar.

Global Markets

Asian stocks slipped to 14-month lows on Wednesday with investor confidence chilled by the latest round of verbal threats in an intensifying US-China trade conflict.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3 per cent, plumbing its lowest levels since July 2017. Hong Kong’s Hang Seng fell 0.4 per cent and the Shanghai Composite Index dropped 0.3 per cent. Tokyo’s Nikkei declined 0.4 per cent and South Korea’s KOSPI shed 0.3 per cent.

The mood was dimmed by the verbal sparring between Washington and Beijing as the months-long escalation in trade tensions between the world’s two biggest economies took its toll on riskier assets.

(with wire inputs)

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Sensex

Company Price Gain (%)
Yes Bank205.057.19
ITC283.902.77
Tata Motors184.302.73
IndusInd Bank1,537.752.60
Vedanta211.202.18

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