Sensex rises 95 points, rupee recovers 15 paise against dollar in early trade
The rupee had on Monday slumped to new record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall.
The BSE benchmark Sensex Tuesday rose 95 points, but soon turned choppy on weak global cues amid lingering global trade war concerns. The rupee opened on a positive note by inching 15 paise higher.
The 30-share index opened higher by 95.32 points, or 0.25 per cent, at 38,017.49. It, however, turned choppy and was trading 8 paise, or 0.02 per cent, higher at 37,930.97 at 0930hrs.
The gauge had lost 467.65 points in the previous session.
Similarly, the NSE Nifty bounced by 30.30 points, or 0.26 per cent, at 11,468.40 in opening trade, only to turn flat within the first 15 minutes of the session.
Investors turned cautious as trade war concerns between the US and China rose and a persistent weakness in the rupee became lingering concerns leading to volatility in the market, brokers said.
The rupee opened at 72.30 against the US dollar amid increased selling by banks and exporters.
Besides, dollar’s weakness against some currencies overseas including the euro also supported the rupee, dealers said.
The rupee had on Monday slumped to new record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall on growing fears of contagion from an emerging-market rout and escalation of global trade war.
First Published: Sep 11, 2018 09:51:32