Bourses quiet

| November 8, 2011

MUMBAI: The BSE benchmark Sensex gained nearly 70 points in early trade on Tuesday on fresh buying influenced by firm cues from other Asian bourses.

The 30-share index rose by 69.62 points, or 0.39 per cent, to 17,632.23 in early trade. Buying in capital goods, refineries, power, auto and metal stocks helped the Sensex gain.

In a similar fashion, the wide-based National Stock Exchange Nifty Index moved up by 19.00 points, or 0.35 per cent, to 5,303.20.

Brokers said trading sentiment improved on the back of firming trend in the Asian region and encouraging earnings announced by ONGC.

Stocks of state-owned Oil and Natural Gas Corp (ONGC) were up by 3.06 per cent to Rs 286.15 after company posted a 60 per cent jump in net profit in the second quarter ending September 30 on back of higher crude oil prices.

In the Asian region, Hong Kong’s Hang Seng index rose by 0.73 per cent. The US Dow Jones Industrial Average ended 0.71 per cent higher on Monday.

Rupee down by 18 paise against dollar in early trade

The rupee weakened by 18 paise to trade at Rs 49.28 against the US currency as the dollar strengthened in the overseas markets. However, a higher opening in the domestic equity market capped the rupee losses.

Dealers attributed the rupee’s fall to dollar gains against the euro in overseas markets.

Category: Business

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