Sensex gains nearly 150 points as rupee strengthens

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The benchmark BSE Sensex gained rose 150 points in early trade on Monday as fresh buying by DIIs amid a strengthening rupee.

The 30 share barometer gained 146.16 points (0.41 percent) to 35061.56 in early trade. Earlier the gauge had lost 261.04 points in the previous two sessions.

Sectoral indices led by banking, tech, realty and consumer durables were trading in green with gains over 1.5 percent.

The broader 50 share Nifty of the National Stock Exchange (NSE) too gained 41.55 points (0.39 percent) to 10659.80.

Major gainers were Bharti Airtel, Bajaj Auto, M&M, Infosys, Axis Bank, ICICI Bank, Wipro, Kotak Bank, ITC, ONGC, Tata Steel, Wipro, Tata Steel, Tata Motors, RIL, L&T and Yes Bank rising up to 1.76 percent.

Brokers said buying by DIIs and retail investors amid a firm trend at other Asian bourses following strong closing on Wall Street led the markets higher.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 1628.23 crore, while Domestic Institutional Investors (DIIs) bought shares worth to the tune of Rs 1084.09 crore in Friday’s trade, provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng was 0.52 percent up while Japan’s Nikkei lost 0.45 percent in early trade. Shanghai Composite Index rose 1.06 percent.

The US Dow Jones Industrial Average ended 1.39 percent and Nasdaq Composite Index closed 1.71 percent higher on Friday.

The rupee strengthened by 8 paise to 66.79 against the dollar in early trade on Monday on fresh selling of the U.S. currency by exporters and banks amid a higher opening in the domestic equity market.

On Friday, the rupee had lost 23 paise to close at 66.87 against the U.S. currency.

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