Sensex reclaims 21K level on fresh buying

Mumbai: After a brief pause yesterday, the S&P BSE benchmark Sensex reclaimed the 21K level and was quoted at 21,012.77 in late morning trade due to fresh buying on the back of persistent foreign capital inflows.

Market also got a boost after Finance Minister P Chidambaram exuded confidence that the country's current account deficit will be contained below USD 60 billion in current financial year.

Foreign institutional investors (FIIs) bought shares worth a net Rs 162.53 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 21,004.54 and hovered in a range of 21,045.38 and 20,944.50 before quoting at 21,012.77 at 1030 hrs, showing a gain of 37.98 points or 0.18 percent from its last close.

The NSE-50 share Nifty also moved up by 2.20 points or 0.04 percent to 6,255.35 at 1030 hrs.

Major gainers were TCS (1.83 percent), Wipro (1.62 percent), Cipla (1.40 percent), Sun Pharma (1.36 percent), Coal India (1.35 percent), Tata Motors (1.24 percent) and ITC (1.02 percent).

Most Asian stocks reversed intra-day losses today. Key benchmark indices in Hong Kong, Taiwan, Indonesia and Japan rose 0.07 percent to 0.47 percent while indices in Singapore and South Korea fell 0.11 percent to 0.12 percent. China's Shanghai Composite was flat

Sensex up over 150 points, trading above 19K-level

Mumbai: The rupee on Friday strengthened further by 20 paise to 65.81 against the dollar in early trade, largely supported by recent RBI measures.

Meanwhile, the BSE benchmark index Sensex rose by 163.71 points to 19,143 in late morning trade. Similarly, the wide based Nifty rose 16.15 points to 5,509.

The domestic currency had gained 106 paise to close at 66.01 yesterday against the dollar after steps taken by new RBI Governor Raghnuram Rajan to attract US currency inflows.

To support the rupee, RBI announced steps such as enhanced limits for exporters to re-book cancelled forward exchange contracts and a special concessional window to swap foreign currency non-resident (FCNR) deposits.

Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and dollar's weakening against some currencies overseas helped the rupee rise.