AIRLINK 58.60 Increased By ▲ 0.61 (1.05%)
BOP 6.21 Decreased By ▼ -0.01 (-0.16%)
CNERGY 3.99 Decreased By ▼ -0.06 (-1.48%)
DFML 16.01 Increased By ▲ 0.31 (1.97%)
DGKC 67.32 Decreased By ▼ -1.23 (-1.79%)
FCCL 17.55 Decreased By ▼ -0.20 (-1.13%)
FFBL 25.89 Increased By ▲ 0.14 (0.54%)
FFL 9.14 Decreased By ▼ -0.17 (-1.83%)
GGL 9.77 Increased By ▲ 0.03 (0.31%)
HBL 112.50 Increased By ▲ 0.70 (0.63%)
HUBC 115.29 Increased By ▲ 0.49 (0.43%)
HUMNL 6.59 Increased By ▲ 0.15 (2.33%)
KEL 4.22 Decreased By ▼ -0.08 (-1.86%)
KOSM 3.56 Decreased By ▼ -0.02 (-0.56%)
MLCF 37.11 Decreased By ▼ -0.29 (-0.78%)
OGDC 116.40 Decreased By ▼ -0.80 (-0.68%)
PAEL 22.71 Decreased By ▼ -0.19 (-0.83%)
PIAA 10.79 Decreased By ▼ -0.56 (-4.93%)
PIBTL 6.25 Increased By ▲ 0.58 (10.23%)
PPL 104.00 Decreased By ▼ -1.25 (-1.19%)
PRL 26.39 Decreased By ▼ -0.16 (-0.6%)
PTC 9.53 Decreased By ▼ -0.07 (-0.73%)
SEARL 51.99 Decreased By ▼ -1.35 (-2.53%)
SNGP 65.12 Increased By ▲ 0.13 (0.2%)
SSGC 10.93 Decreased By ▼ -0.01 (-0.09%)
TELE 7.21 Increased By ▲ 0.05 (0.7%)
TPLP 11.99 Increased By ▲ 0.12 (1.01%)
TRG 76.85 Increased By ▲ 4.14 (5.69%)
UNITY 20.49 Decreased By ▼ -0.24 (-1.16%)
WTL 1.30 Decreased By ▼ -0.01 (-0.76%)
BR100 6,332 Increased By 45.7 (0.73%)
BR30 21,614 Increased By 27.8 (0.13%)
KSE100 61,914 Increased By 355.2 (0.58%)
KSE30 20,851 Increased By 132.3 (0.64%)

BENGALURU: Indian shares rose more than 1% to hit their highest in over a month as investors scooped up beaten-down technology and metal stocks, while the rupee plumbed new lows against the dollar earlier in the session.

The NSE Nifty 50 index ended up 1.43% at 16,278.50, while the S&P BSE Sensex rose 1.41% to 54,521.15. Both the indexes hit their highest since June 10.

The partially convertible rupee slumped to a record closing low of 79.97 against the dollar, versus Friday’s close of 79.88. It fell to as much as 79.985 per dollar during the session.

India’s benchmark 10-year bond yield ended largely flat at 7.44%.

The Nifty IT index, which is down more than 30% this year, gained 3.2%.

The metals index rose 2.5% as Chinese regulators encouraged lenders to extend loans to qualified real estate projects, boosting sentiment for metal markets. The index had lost 28% in the last two months.

“It could be a relief rally due to the oversold positions in both IT and metals. Globally also cues are conducive, as the U.S. consumer data was on the positive side,” said Ajit Mishra, vice-president, research, Religare Broking.

U.S. economic data on Friday showed stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.

Comments

Comments are closed.