Sensex recovers by 115 pts on rupee bounce-back, global gains

The benchmark BSE S&P Sensex today gained 115 points to close at 19,439.48 amid a smart recovery in the rupee and on the back of firm global cues.
The stock markets mirrored the currency's movement, which bounced back from a record low of 61.21 yesterday after Sebi and the Reserve Bank of India announced steps to curb speculative trade in currency derivatives, brokers said.
There was across-the-board buying as all 13 sectoral indices closed between 0.04 per cent and 1.93 per cent higher, with consumer durables, power, realty, capital goods, pharma and banking stocks taking the lead.
According to analysts, the market seemed to be consolidating above the 19,000 level ahead of first-quarter results starting later this week. Software services giant Infosys is scheduled to report its Q1 results on Friday.

"In the coming days, we could see stock-specific movements due to quarterly results," said Nagji K Rita, Chairman & MD, Inventure Growth & Securities. "Overall, the markets could move sideways with an upward bias. The markets may pick up volatility as it approaches the end of this week when the IIP data would be announced."
Gains in HDFC Bank, Sun Pharma, L&T, Infosys, RIL, HDFC, ICICI Bank, SBI, Bajaj Auto, Dr Reddy's Lab and BHEL supported the Sensex.

The 30-share barometer opened higher, in line with higher Asian cues on the back of a strong closing on Wall Street yesterday, and remained in positive terrain to settle at 19,439.48, adding 114.71 points or 0.59 per cent. Yesterday, the Sensex dropped 0.88 per cent.

The 50-share CNX Nifty on the NSE gained 47.45 points to end at 5,859.00. The SX40 index on the MCX-SX climbed 62.75 points, or 0.54 per cent, to 11,598.19.
The rupee gained 48 paise to 60.13 against the dollar in early trade at the Interbank Foreign Exchange market.