Equities gained on the bourses on Monday following value-hunting by foreign institutional investors (FII), while the rupee fell against the dollar as compared to its previous close as it continued to remain weak.
The Bombay Stock Exchange (BSE) sensitive index, Sensex, gained 181.58 points at 19577.39, led by realty stocks which gained 5.26 per cent followed by capital goods and power 2.77 per cent each and FMCG 2.11 per cent. Except information technology stocks, which lost the most at 1.60 per cent, and technology 0.44 per cent, all other sectoral indices ended in the positive territory.
On the National Stock Exchange (NSE), the 50-share Nifty closed higher at 5898.85 with a gain of 56.65 points. “Going ahead, in the immediate-term, markets will continue to focus on the rupee, global liquidity and monsoons. Quarterly corporate results will lead to stock-specific action,” said Dipen Shah, Head-Private Client Group Research, Kotak Securities.
13 paise drop in rupee
The resurgence of foreign investment inflow into the bourses brought some solace to rupee against the dollar in the foreign exchange market on Monday. However, it weakened at the end of the trade following demand from the oil companies.
The rupee closed at 59.51/52 a dollar compared with its previous close of 59.38/39. Breaching the 59-mark the rupee rose to a high of 58.96 intra-day.