Sensex Sees Modest Gains, Rupee Strengthens in Early Trade
The Indian stock market opened on a positive note on Monday, with the BSE Sensex gaining 40 points in early trade. Investors remained cautiously optimistic amid global market trends and domestic economic indicators.
Market Highlights:
- Sensex opened higher, rising 40 points.
- Nifty 50 saw marginal movement.
- The rupee strengthened by 8 paise against the US dollar.
Factors Driving the Market
- Foreign Inflows: Continued foreign institutional investor (FII) activity has provided market support.
- Global Cues: Mixed trends in global markets have influenced domestic equities.
- Sectoral Performance: Banking, IT, and auto stocks showed resilience, while metal and energy sectors remained under pressure.
Rupee Movement
The Indian rupee appreciated 8 paise, supported by a weaker US dollar and strong FDI inflows. However, crude oil prices and bond yields remain key factors to watch for further currency movements.
