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After continuous decline, the market recovered today, rupee also strengthened by 12 paise

After continuous decline, the market recovered today, rupee also strengthened by 12 paise


Business

oi – Ankur Singh

,

Updated: Friday, May 13, 2022, 13:22 [IST]

Mumbai, May 13. After the heavy fall of the last few days, the stock market is seeing some strength today. The Sensex today saw an increase of 550 points and reached 53400, while the Nifty also saw an increase of 150 points and it crossed 16000. Both Nifty and Sensex have gained about 1 per cent, while Bank Nifty has also seen a rise of one per cent. There has been a jump in the shares of Tata Motors, Sun Pharma. Talking about 10.18 hrs, Sensex is trading at 53227 points while Nifty is trading at 15916 points. Sensex today opened at 15,977 points and reached 16032. On the other hand, talking about the Sensex, it opened at 53565 points and reached a high of 53625.

After continuous decline, the market recovered today, rupee also strengthened by 12 paise

The shares of Adani Power and Tata Alexi have seen a jump of 5 and 8 per cent. On the other hand, the shares of UPL and Bajaj Auto have also seen an increase. At the same time, the listing of LIC IPO can be done on May 17. LIC had issued IPOs in the price band of Rs 949.

On the one hand, where there was some bounce in the stock market today, on the other hand the rupee has also seen strength. At present, the rupee is trading higher by 12 paise at 77.28. The rupee had touched 77.40 on Thursday. The rupee had seen a fall on Thursday amid rising fears of inflation. Let us tell you that retail inflation has reached its 8-year high and it is at 7.79 percent. The demand for increase in the prices of food items, oil and other products has fallen on the common people. Recently, the Reserve Bank of India has increased the interest rates by 40 basis points, its effect is being seen on the market.



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