Sensex sails 453 points, the rupee under 70 for a dollar for the first time in 3 months

The Senbad for BSE increased for the fourth consecutive session on Thursday, gaining more than 450 points in overdraft coverage as November's derivatives series closes in the face of a sharp rise in the rupee.

According to traders, positive statements by Fed Chairman Jerome Powell have sparked investor interest around the world.

The Senbad (30 stocks) settled 453.46 points, or 1.27%, an increase of 36,170.41 points, while the NSE Nifty jumped 129.85 points. or 1.21%, to finish at 10,858.70.

The rupee has surged 74 percent to break the 70 percent mark and reach 69.88 – a three-month high – in intra-day trade thanks to a sustained sell-off of the greenback by exporters and to a relaxation of crude oil prices. [19659006] "With a significantly lower Brent and a stronger rupee, the stock market traded with absolute buoyancy, thus covering larger markets," said Joseph Thomas, research director at Emkay Wealth Management.

According to him, a key factor The Fed Chairman's badertion that US interest rates remain just below neutrality is another element that has instilled new momentum into the markets .

"This was seen as a sign that the Fed was probably on the end of the tightening cycle. Notably, this statement contrasted sharply with the earlier statement made at the last FOMC meeting that the Fed had yet to go a "long way" before reaching optimal levels, "he added. 19659006] Any relaxation of world trade According to badysts, the tension that prevails after the G20 meeting this weekend will help strengthen the global sentiment.

Among the main winners of the session, let us note Bajaj Auto , Kotak Bank, M & M, Vedanta, Indusind Bank, Asian Paints, HDFC Bank and Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, up 5%, however, ONCG, PowerGrid, NTPC, Infosys, Yes Bank and Sun Pharma fell to 1.33 percent.

In net worth, foreign portfolio investors bought shares for a value of 961.26 billion rupees Wednesday, while investors institutional institutions ( DII)) sold shares for 330.29 crore rupees, according to provisional stock market data.

Elsewhere in Asia, Korea's Kospi rose 0.28%, Japan's Nikkei gained 0.39%, while Hong Kong's Hang Seng dropped 0.87% and Shanghai L & # The composite index fell by 1.32%

In Europe, the DAX index in Frankfurt was up 0.60% and the CAC 40 in Paris by 0.80%. The London FTSE gained 0.58%.