Sensex gains 480 Points, Rupee at 64.28 vs USD
New RBI Governor Raghuram Rajan continues to make a good impact on the market, as the BSE Sensex again surged 484 points today to reach 19,754 at around 1 PM. The Niifty too witnessed a gain of 134 points to trade at 5,786.
The Rupee has gained significantly against the US Dollar to reach 64.28 against the previous close of 65.24 on Friday. As there is a bleak chance of military assault on Syria if that country surrenders its chemical weapons, market has reacted to the developments very positively.
There are indications that FIIs are returning to the market. In addition, crude oil prices have gone down and Telecom sector is on the rise following the decision to reduce the spectrum prices.