Sensex hits 20K, rupee below 64: Five reasons for the euphoria – The Economic Times:
Indian Stock Market Dazzle after a rapidly shrinking Rupee
The S&P BSE Sensex rallied over 700 points in trade on Tuesday to touch its key psychological level of 20,000. Tracking the momentum, the 50-share Nifty, which rallied for the fourth consecutive day in a row, surged over 200 points to hit its key psychological level of 5,900 in trade today.
The rupee was at a two-week high following weakness in the dollar index. The partially convertible rupee was at 63.90 in late trade.
The 30-share index ended at 19,997.10, up 727.04 points or 3.77 per cent. It touched a high of 20,012.69 and a low of 19,444.66 in trade today.
The Nifty closed at 5,896.75, up 216.35 points or 3.81 per cent. It touched a high of 5,904.85 and a low of 5,738.20 in trade today.
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