Peace talks, rupee gains boost sensex

MUMBAI: Sensex rose 787 points on Monday as crude prices eased on ceasefire talks in West Asia, while a firmer rupee supported sentiment even as foreign investors continued to sell Indian equities.

The sensex closed at 74,106, up 1.1% from its previous close of 73,319. The rupee ended at 93.1 per dollar, little changed from 93.1 on Thursday, extending gains after a sharp rally late last week. In equity markets, foreign portfolio investors sold Rs 8,167 crore worth of stocks, while domestic institutional investors bought Rs 8,088 crore.

The rupee’s recent gains have been driven by policy action, even as markets remain cautious, reflected in wide spreads between onshore and offshore markets. On Thursday, the currency rose nearly 2%, its biggest daily gain in over a decade.
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