Rupee Gains 23 Paise on FPI Inflows, Shares Up 1% On Buying Momentum

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The benchmark stock index rose about 1% on Monday, helped by heavy buying across sectors, in line with global cues. Positive FPI flow is 18 rupees paise.

The S&P BSE Sensex gained 545.25 points, or 0.95%, to 58,115.50. Top gainers on the Sensex include M&M (6.15%), Reliance Industries (2.64%), Maruti (2.64%), Kotak Bank (2.42%) and Bharti Airtel (2.4%).

The NSE Nifty-50 index also gained 181.80 points, or 1.06%, to 17,340.05. Tata Motors was Nifty’s best performer, with a gain of 6.77%.

The rupee gained 18 paise to 79.06 on Monday.

Global currencies edged higher against the dollar, with the rupee also gaining 0.9% in two weeks after depreciating to an all-time low, said Bank of Baroda economist Aditi Gupta.

“Apart from the RBI’s policy meeting, US CPI and employment reports will guide the rupee in the next two weeks. We expect the rupee to trade in the 79.15-79.75/dollar range for the next two weeks,” she said.

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