For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Rupee, markets welcome Raghuram Rajan with a bang

|
 Rupee, markets welcome Raghuram Rajan with a bang
Markets which were badly battered on Tuesday recovered some lost ground, even as new RBI Governor, Raghuram Rajan took charge at the country's central bank today.
 

The Sensex ended the day higher by 332 points, while the Nifty gained 107 points in trade. The rupee rallied 52 paise and was trading at 67.10 at 3.30 pm. Reports suggest there was heavy RBI intervention to prop up the rupee.

Ranbaxy led gainers higher and rallied almost 8 per cent in trade, as investors hoped that a falling rupee would boost the company's earnings. Bhel, Tata Motors, Reliance Industries and Bharti Airtel joined Ranbaxy higher from the Nifty stocks.

IT Stocks were once again on fire with TCS, Infosys, Wipro and HCL Tech rallying after a brief pause witnessed on Tuesday.

Nifty stocks that lost ground in trade were heavyweight ITC, Maruti and Punjab National Bank. Real estate stocks fell led by sharp losses in DLF, Sobha and Godrej Properties after the RBI tweeked norms for home loans.

Gujarat Gas rallied as much as 2 per cent after reports that the company is in pact to buy 0.85 mcmd gas from GSPL.

IPCA Labs rallied in trade today after the company got an FDA approval for its Indore Plant. Other pharma stocks also saw substantial gains on hopes that a falling rupee would boost gains. Lupin Labs, Cipla and Dr Reddy's also ended higher.

Meanwhile, markets in Asia ended the day mixed with the Japanese Nikkei and the Shanghai Composite gaining ground, while the Singapore's Strait Times and Hong Kong's Hang Sang ended the day lower.

GoodReturns.in

Read more about: sensex nifty
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more