Both share market and Rs strong


Mumbai: The benchmark Sensex ended higher by nearly 150 points due to value-buying with a Greece default already factored in, while better-than-expected progress of the monsoon also helped the sentiment. April-June earnings, expected to begin on a subdued note with some disappointment from IT companies, could be the next key trigger.
The 30-share BSE index Sensex ended higher by 146.99 points or 0.53 per cent at 28,092.79 and the 50-share NSE index gained 40 points or 0.47 per cent to 8,484.90.
Among BSE sectoral indices, banking index gained the most by 0.76 per cent, followed by capital goods 0.57 per cent, FMCG 0.46 per cent and healthcare 0.41 per cent. On the other hand, metal index lost investors’ support and was down 1.48 per cent, followed by realty 0.54 per cent, auto 0.39 per cent and infrastructure 0.28 per cent.
Brokers said fresh buying by investors at prevailing levels and RBI Governor’s statement yesterday that India’s exposure to Greece is limited influenced the trading sentiment.
European shares edged down towards their biggest weekly fall in two months on Friday, with focus on a crucial vote in Greece over its debt negotiations at the weekend.
The rupee was trading strong by 4 paise at 63.47 in the evening session on continued dollar selling by exporters amid firm domestic equity market. Forex dealers said a weak dollar against other currencies overseas on disappointing US employment data and a firm domestic equity market supported the rupee.The dollar slipped after the overnight jobs data. Against the Japanese currency, it was changing hands at 122.95 yen, a shade lower than Thursday’s 123.04. The euro was also steady on the day at 136.42 yen and $1.1094.
Continuing its winning run for the fourth straight day, the rupee strengthened by 11 paise to 63.40 against the US dollar in early trade at the Interbank Foreign Exchange market today. It further firmed up 63.35 before being quoted at 63.47 at 4.10 pm local time. The domestic currency hovered in the range of 63.35 and 63.48 in the evening trade.
The rupee had gained 10 paise to close at 63.51 against the US dollar yesterday on continued selling of the greenback by banks and exporters.