Sensex jumps 529 points, Nifty ends at 13,749

Domestic equity market benchmark indices, Sensex and Nifty ended over 1 per cent higher Thursday led by gains in banking and pharma stocks amid positive global cues.

BSE Sensex surges 529 points to end at 46,973, while the broader Nifty 50 index jumped 148 points to settle at 13,749. Out of 30 Sensex stocks, 20 shares ended in the green, led by Sun Pharma which jumped 3.22 per cent.

Meanwhile, the Indian rupee hit the 77/$ mark earlier in the year. The fall in INR is understandable given the economic uncertainties and fall in growth rate that led to global investors rush to the greenback which is considered as a safe haven.

The depreciating rupee has had a positive impact on Indian exporters, IT companies. The Indian rupee has depreciated over 3.5% (YTD) in the year 2020.

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This will be the third straight year of decline for the INR. It is one of the worst years for the Indian Rupee among its Asian peers.

(With inputs from agencies)