Sensex gains despite rupee volatility

Mumbai  : A benchmark index of Indian equities markets closed in green for the third straight session Monday, even as the rupee slumped to 64 against the dollar mark.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 18,602.56 points, ended the day’s trade at 18,558.13 points, up 38.69 points or 0.21 percent from the previous day’s close at 18,519.44 points.

In Monday’s trade, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 4.75 points or 0.09 percent up at 5,476.50 points.

The Sensex touched a high of 18,728.19 points and a low of 18,488.93 during Monday’s trading session.

This was the third consecutive gain that the market made in the previous seven trading sessions, even while the rupee slumped to a low of 64.42 against the dollar.

The markets had slumped below the 18,000-mark in the previous week, as the rupee continued its downslide. The partially-convertible rupee had slumped to a new record low of 65.56 against a dollar on August 22.

However, the rupee later recovered on Friday to close at Rs.63.20 against a dollar. The volatility in the rupee value had eased as Finance Minister P. Chidambaram called for calm in the currency markets saying the government was taking measures to improve the situation.

Photo  : AFP