Indian stock markets (Sensex and Nifty) finally closed higher on Thursday with Sensex gaining 225 points and Nifty finishing above 11,500 with shares of RIL, Power Grid, Coal India and Sun Pharma rising more than 2%. Shares of Mukesh Ambani’s Reliance Industries Ltd (RIL) emerged as the biggest booster to both headline indices Sensex and Nifty as the stock contributed as much as 112 points out of the 224 point jump of Sensex.
Indian shares erased all the gains after the Indian rupee surpassed 72 per US dollar mark for the first time ever in Indian history. According to the Bloomberg data, the rupee made a lifetime low at 72.1050, down 35 paise against the US dollar. Following the turmoil in the domestic currency, BSE Sensex dropped 82.4 points to a day’s bottom of 37,935.91 while Nifty 50 fell 33.85 points to a day’s low of 11,443.10.
Indian equities geared up in the mid-morning deals on Thursday with Sensex soaring 164 points and Nifty firming above 11,500 while the rupee touched a low of 71.94, 2 paise away from the record low of 71.96 and 6 paise away from 72/$ mark. The domestic stock markets fell into negative territory after opening marginally higher on Thursday with Sensex and Nifty trading little changed following the negative Asian cues and tensions over US-China trade tariff dispute.