Press Esc to close
Saturday 07 March 2015
News updated at 1:53 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

Waning Syria fears lift Sensex

Mumbai, Sept 10, 2013 DHNS
File Image

Key benchmark indices on Tuesday galloped as the rupee extended recent recovery against the dollar on receding geopolitical risks from Syria, with the benchmark BSE index Sensex breaching the psycological 20,000 mark during the day. 

The BSE Sensex was up 727.04 points or 3.77 percent to close at 19,997.10, its highest closing level since July 24, 2013. The CNX Nifty gained 216.35 points or 3.81 per cent to settle at 5,896.75, its highest closing level since 25 July 2013. 

Experts pointed out that upbeat trade data that revealed India's trade deficit for the month of August narrowing down to $10.9 billion from $12.26 billion in July, also contributed to the rally. The deficit narrowed on the back of improving exports and declining imports, and was down 11 per cent. 

Given nearly 15 per cent drop in rupee so far in the year 2013, there are a few data points which indicate that the macroeconomic slowdown and other headwinds may be behind India. "The one single data point that one should watch out for over the next 2-3 months is trade deficit. It would be interesting to see the trade deficit stay at current levels," MD & HoR, BNP Paribas Manishi Raychaudhuri said.

Hopes of further measures, according to analysts, from new RBI Chief Raghuram Rajan will keep the momentum intact in the rupee. "The currency appreciation that we have seen since last week, is essentially due to certain announcements after the new RBI governor took charge. However, the fundamental factors behind rupee fall continue to signal a weakening trend," said Dhananjay Sinha, Co- Head, Institutional Research- Economist & Strategist at Emkay Global Financial Services LtdBSE 4.99  per cent. 

As for external factors, easing concerns over Syria and fall in crude oil prices markets across the globe including India to post a smart rally. Asian stocks rose to three-month highs on receding fears of a US military strike against Syria which kept oil prices under pressure. 


Go to Top

Photo Gallery
Trucks stranded on the Srinagar-Jammu National Highway at Qazigund on Friday. The highway...

Trucks stranded on the Srinagar-Jammu National Highway at Qazigund on Friday. The highway...

Students looking Aero models at 2nd National Seminar and Exhibition on UAV Technologies and Air...

Students looking Aero models at 2nd National Seminar and Exhibition on UAV Technologies and Air...

Fishermen from India stand behind bars in a cell, after being detained in Pakistani waters...

Fishermen from India stand behind bars in a cell, after being detained in Pakistani waters...

New CC TV camera polls installing in MG Road, Bengaluru...

New CC TV camera polls installing in MG Road, Bengaluru...

2nd National Seminar and Exhibition on UAV Technologies and Air Show organised by Rotary Club...

2nd National Seminar and Exhibition on UAV Technologies and Air Show organised by Rotary Club...

Indian Foreign Minister Sushma Swaraj shakes hand with Sri Lankan Deputy Foreign Minister Ajith...

Indian Foreign Minister Sushma Swaraj shakes hand with Sri Lankan Deputy Foreign Minister Ajith...

Ola Head of Operations (Mangaluru) Sadhanandhan N with Ola Sedan category car during the launch...

Ola Head of Operations (Mangaluru) Sadhanandhan N with Ola Sedan category car during the launch...

Border Security Force (BSF) personnel celebrate Holi festival in Amritsar, Punjab on Friday...

Border Security Force (BSF) personnel celebrate Holi festival in Amritsar, Punjab on Friday...

Indian Hindu women from Nandgaon village beat the shield of a man from Barsana during Lathmar...

Indian Hindu women from Nandgaon village beat the shield of a man from Barsana during Lathmar...

Trays filled with colored powder and flower petals lie on a floor to be used by widows...

Trays filled with colored powder and flower petals lie on a floor to be used by widows...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523