Sensex ends 373 pts up as rupee recovers; PM eco meet eyed
- Friday, Sep 14 2018
- Wealthbuilder Team
Among sectoral indices, the Nifty Pharma index settled 2.5 per cent higher led by a rise in the share prices of Divi's Laboratories and Piramal Enterprises. On the other hand, the Nifty Bank index rose 1.3 per cent led by YES Bank and IDFC Bank.
The rupee strengthened by over 60 paise to 71.58 against the US dollar in intra-day trade. On Wednesday, the domestic currency rebounded from its historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar.This apart, Prime Minister Narendra Modi will hold a meeting with finance ministry officials later in the day to discuss the fall in the rupee and other economic issues. Rupee is Asia's weakest currency in 2018, down more than 12 percent on a widening current account deficit and higher oil prices.
Investors cheered as the industrial production grew at 6.6 per cent in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables.Meanwhile, CPI inflation dipped 3.69 per cent in August 2018, compared to 4.17 per cent in July 2018. The core CPI inflation declined to 5.90 per cent in August 2018 compared with 6.29 per cent in July 2018.
Inflation based on wholesale prices eased to a four-month low of 4.53 per cent in August on softening of prices of food articles, especially vegetables. The Wholesale Price Index (WPI) based inflation stood at 5.09 per cent in July and 3.24 per cent in August last year.
Asian shares rose on Friday as the United States and China looked set to launch a new round of trade talks amid an escalating tariff row, while a decisive interest rate hike by Turkey's central bank also helped support global risk appetite.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 per cent, putting it on track for its best performance in more than two weeks.
Seoul's Kospi was up 1.4 per cent higher and Hong Kong's Hang Seng climbed 0.9 per cent. Japan's Nikkei stock index ended 1.2 per cent higher.
Nifty Pharma index ends 2.51% higher. Top gainers:
COMPANY LATEST PREV CLOSE GAIN() GAIN(%) KIOCL 226.50 188.75 37.75 20.00 DEN NETWORKS 59.60 49.70 9.90 19.92 BAJAJ HINDUSTHAN 8.50 7.15 1.35 18.88 SH.RENUKA SUGAR 14.80 12.90 1.90 14.73 BALRAMPUR CHINI 88.65 78.00 10.65 13.65
Nifty sectoral gainers and losers of the day
BSE Sensex: Vedanta, Power Grid, Asian Paints among top gainers of the day
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