5 September 2013

BSE Sensex jumps 510 pts, Nifty tests 5600; Bankex up 8.5%

The market continues its gaining streak on Thursday morning boosted by banking stocks. The Sensex gains 376.86 points or 2.03 percent at 18944.41, and the Nifty is up 105.65 points or 1.94 percent at 5553.75.About 282 shares have advanced, 25 shares declined, and 12 shares are unchanged.
On Thursday the Indian rupee opened with a gain of 97 paise at 66.09 per dollar versus 67.06 Wednesday.

Rupee may witness another session of strength today. RBI came up with fresh selling of dollars yesterday which may keep dollar under some pressure. Further, with overall downward trend in rupee, the local currency may witness some technical bounce as it is trading in technically oversold zone. The range for the day is seen between 66.60 to 67.30/USD."

From precious metals space, gold fell 1.5 percent slipping below USD 1,400/ounce as strong US auto sales boosted economic hopes and fears of a US-led military strike against Syria lost some of its urgency.

OPENING BELL
NIFTY FUTURE UP106.90@5560
BANKNIFTY FUTURE UP410.90@9360
SENSEX UP290@18857
INR 65.82
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