Recovery in Rupee supports Indian Markets to close higher - ZENMoney

Domestic indices opened the session on a positive note following mixed global cues. Some recovery in the rupee supported the markets upside in early trade of the day. Buying interest was witnessed in the markets after a sharp correction recorded in previous session. Markets continued to trade in green with buying witnessed in front line blue chip stocks. Also, with positive cues from European counter parts indices ended the day with huge gains.

On a sectoral front, except Metal sector, all the other sectors traded in green. IT andFMCGare the top gainers of the day with heavy buying witnessed in stocks. IT sector traded higher on government's notification that allows SEZs and units operating in them to not pay service tax - instead of paying the tax and then claiming refunds. Realty, Consumer Durables, Oil&Gas, Auto, Health Care, Banks and Power are other sectors ended with gains for the day.

Source : Equity Bulls

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