Sugar stocks trade high as Nifty gains; Rupee jumps 16 paise
Key Indian equity market indices opened in the green on Friday even as investors await any new government announcement as the deadline to deposit old notes draws to a close.
The indices traded up despite the Reserve Bank of India`s Financial Stability Report indicating further increase of banks' bad loans.
Sugar stocks opened on a good note on BSE Sensex.
The 30-scrip Sensitive Index (Sensex) was trading 66.70 points or 0.25 per cent higher during the early session. The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading 27.40 points or 0.34 per cent higher at 8,131.00 points.
The BSE Sensex, which opened at 26,441.51 points, was trading at 26,432.85 points (at 9.16 a.m.) in the early session, higher 66.70 points or 0.25 per cent from the previous day`s close at 26,366.15 points.
The Sensex touched a high of 26,442.44 points and a low of 26,406.53 points in the trade so far.
The rupee added 16 paise at 67.94 against the dollar today -- its last session for this year -- as exporters and banks intensified selling of the US currency amid a higher opening in the stock market.
Forex dealers said weakness of the dollar against other currencies too influenced the rupee uptrend.
Yesterday, the local unit had recovered by 14 paise to close at 68.10 on fresh selling of the greeenback in view of its weakness overseas amid a revival in domestic equities.
Meanwhile, the benchmark BSE Sensex advanced by 132.84 points, or 0.50 per cent, at 26,498.99 in early trade today.
(Inputs from PTI and IANS)