Sensex gains on positive global cues

The Bombay Stock Exchange bellwether index, Sensex, rose for the second consecutive session on Thursday ending 264 points higher on renewed investor confidence, supported by positive European cues.

The BSE 30-share benchmark index, which was creeping till mid-session, spurted in the second-half after European markets opened firm and settled at 16922.08 points, showing a gain of 264.19 points, or 1.59 per cent.

Aggressive buying in auto, metal and telecom stocks pushed the Sensex to an intra-day high of 16942.60, marketmen said.

Metal stocks recorded gains as good export numbers from China indicated that the demand for commodities was likely to remain strong. ,

Rupee gains 6 paise

The rupee on Thursday gained six paise to close at 46.95/96 against the U.S. currency on fresh dollar selling by exporters and banks amid surge in stock markets. It closed at 47.01.02 on Wednesday.

The rupee resumed lower at 47.05/06 against the overnight closing level of 47.01/02 per dollar. However, it recovered afterwards to 46.91 before ending at 46.95/96. The Reserve Bank of India fixed the reference rate for the dollar at Rs. 46.98 and for the euro at Rs. 56.58.