Sensex Gives Up Most Of Day’s Gains, Nifty Struggles Above 10,150
• Top gainers on the 50-scrip Nifty index included Bajaj Finance, Bharat Petroleum, Indian Oil, Hindustan Petroleum and Hindalco Industries, trading between 2.8 per cent and 4.5 per cent higher in morning deals.
• On the other hand, IT and pharma stocks declined, after the rupee touched a three-week high of 73.10 against the dollar. Strength in the rupee limits profitability for exporters such as IT and pharma companies.
• The rupee rose as much as 47 paise against the dollar. It opened at 73.18 against the greenback, and advanced to an intraday high of 73.10 on increased selling of the dollar amid weakness in crude oil prices.
A positive end for the market, with the Nifty closing above 10,200. The Sensex ended over 180 points higher.
Barring pharma, all the sectors ended in the green, with infrastructure and metals ending the day at high points. The Nifty Midcap index also ended a percent higher.
A fall in crude prices to USD 75 per barrel boosted sentiment on D-Street in the last hour, which led to the market making a complete turnaround.
At the close of market hours, the Sensex was up 186.73 points or 0.55% at 34033.96, while the Nifty shut 78.00 points or 0.77% higher at 10224.80. The market breadth was narrow as 1,345 shares advanced, against a decline of 1,203 shares, while 1,045 shares were unchanged.