Categories: Business

Stock and rupee appreciated in early trade on friday


market today

new Delhi. In early trade on Friday, both the stock and the rupee are seeing a strong trend. Both markets have shown the effect of foreign signals. On the one hand, foreign markets gained support from the domestic stock markets rapidly, on the other hand, the rupee has benefited from the weakness in the dollar. The major stock index Sensex gained over 300 points during early trading on Friday. Powergrid gained the most by three percent in the Sensex. Also SBI, HDFC Bank, IndusInd Bank, Axis Bank, Tata Steel, Reliance Industries and Infosys were among the rising stocks. On the other hand, Bharti Airtel was the only company to fall in early business.

At the same time, the rupee rose 11 paise to 74.91 against the dollar during early trading on Friday due to the weak trend of the US currency and the rise in the domestic stock market. The rupee opened at 74.96 against the US dollar in the interbank foreign exchange market, and rose further to 74.91, showing a gain of 11 paise over the previous close. The rupee had closed at 75.02 against the US dollar on Thursday. Forex traders said a positive trend in the domestic stock markets and a weak US currency supported the rupee. Meanwhile, the dollar index, showing the position of the US dollar against six major currencies, fell 0.15 percent to 92.65.

This post was published on August 21, 2020 12:21 pm

Content Team

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