Domestic stock market rises for second consecutive day; Sensex rises 401 points, Nifty also rises
New Delhi| The domestic stock market continued to rise for the second consecutive day. Sensex rose 401.53 points to 76,901.16 in early trade. Similarly, Nifty increased by 97.5 points to 23,273.55. Apart from this, the rupee rose by 2 paise to reach 86.51 against the US dollar in early trade. Foreign institutional investors (FIIs) were selling on Tuesday and sold shares worth a net Rs 8,132.26 crore, according to stock market data.
The rupee fell two paise to 86.55 per dollar in early trade on Wednesday. High crude oil prices and huge outflows of foreign capital eroded positive sentiment in domestic stock markets, which had an impact on the domestic currency. The rupee opened at 86.50 per dollar in the interbank foreign exchange market and after initial deals peaked at 86.45 against the dollar. However, the local currency soon lost ground and traded at 86.55 against the dollar, representing a two penny drop from the previous closing price. The rupee had closed at 86.53 against the US dollar on Tuesday.
