INSUBCONTINENT EXCLUSIVE:
Sensex, Nifty on Friday: Twenty nine stocks on the 50-scrip Nifty index finished in the positive zoneDomestic stock markets moved higher on
Friday, driven by IT stocks which got a boost owing to the latest bout of weakness in the rupee against the US dollar
Sensex.Here are 10 things to know:1
Twenty nine stocks on the 50-scrip Nifty index finished in the positive zone
per cent while TCS finished 0.8 per cent higher
The rupee hit a record low of 69.12 against the US dollar during Friday's session, tracking weakness in the yuan with traders monitoring the
by the Reserve Bank of India (RBI) to curb its fall.5
"Last two days (of) weakening could be due to the political show of strength by the opposition
However, our view is that rupee will continue to be weak and could see 69.20/25 levels
Our sense is that RBI will continue to intervene actively to keep it at around 69 levels," said Salil Datar, CEO and executive director,
Essel Finance VKC Forex.6
Investors were cautious due to political uncertainty, say analysts
A no-confidence motion is currently underway in Parliament against Prime Minister Narendra Modi's government.7
"There is a lot of nervousness around the no-confidence motion
It will, most likely, not get passed and the government will sail through
Nonetheless, any political instability impacts market sentiment in the near term," news agency Reuters cited Siddhartha Khemka, head of
Pharma stocks were led higher by heavyweight Sun Pharma, which finished with a gain of nearly 3 per cent
Cipla rose 2.6 per cent while Aurobindo Pharma went up 2.3 per cent.9
Shares in non-banking finance firm Bajaj Finance closed 8 per cent higher, making the stock the biggest percentage gainer on the Nifty
sold shares to the tune of Rs 315.69 crore, according to provisional data from the NSE.(With agency inputs)
