Sensex and Nifty closed at higher points as currency recovered almost ₹1 from the historical low of 72.91 in today’s trade. A media report by Moneycontrol News quoted the buzz of economic review meeting to be the reason behind this dramatic recovery.
BSE Sensex ended higher by 305 points to close at 37,718 and Nifty50 closed at 11,370, indicating a positive trend with a difference of 82 points.
The buying trend in sectors like metal, pharmaceuticals, banks, FMCG was the key factor in the upward movement of Sensex and Nifty. Further, HDFC Bank, Reliance and ITC managed to push the market to close at a positive end.
Power Grid Corp, ITC, Adani Ports, Sun Pharma, and Indalco were some notable gainers in NSE’s market. While, Axis Bank, Tata Motors, HPCL, BPCL, and ICICI bank lost the most.
The market will be shut due to Ganesh Chaturthi on Thursday. Whereas, the investors are likely to respond against July industry production and August CPI inflation data to be announced later today.