Press Esc to close
Wednesday 22 February 2017
News updated at 2:28 AM IST
Weather
Max: 33.4°C
Min : 17.7°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
Devotees of Swaminarayan arrange to 'Rotla' one type of Chapati for celebrating'Shak Utsav'...

Devotees of Swaminarayan arrange to 'Rotla' one type of Chapati for celebrating'Shak Utsav'...

Indian women cricketers after winning their ICC Women's World Cup Qualifier final...

Indian women cricketers after winning their ICC Women's World Cup Qualifier final...

A Pakistani volunteer carries an injured child to a hospital in Peshawar, Pakistan...

A Pakistani volunteer carries an injured child to a hospital in Peshawar, Pakistan...

Four rare white lion cubs sit besides their mother Kiara at the zoo in Magdeburg, Germany...

Four rare white lion cubs sit besides their mother Kiara at the zoo in Magdeburg, Germany...

A shepherd taking his flock for grazing at a village in Rambha in Ganjam district...

A shepherd taking his flock for grazing at a village in Rambha in Ganjam district...

A Cheetah cub licks it's handler on the BUILD Speaker Series to promote Nat Geo Wild's 'Big Cat...

A Cheetah cub licks it's handler on the BUILD Speaker Series to promote Nat Geo Wild's 'Big Cat...

Actors Akshay Kumar and Taapsee Pannu at J P Hospital at sector 128 in Noida...

Actors Akshay Kumar and Taapsee Pannu at J P Hospital at sector 128 in Noida...

Bollywood superstar Shahrukh Khan showing his ink marked finger after casting the vote...

Bollywood superstar Shahrukh Khan showing his ink marked finger after casting the vote...

Bollywood actor and Ambassador for save the children, Dia Mirza at the launch of Standard...

Bollywood actor and Ambassador for save the children, Dia Mirza at the launch of Standard...

Microsoft CEO Satya Nadella (Centre) and Chairman Nandan Nilekani during an event on...

Microsoft CEO Satya Nadella (Centre) and Chairman Nandan Nilekani during an event on...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523