Mumbai : These days, it doesn't seem to be taking long for the situation in the stock market to change. Sometimes there is a sudden rise in the market, and sometimes the market falls suddenly. Due to the continuous withdrawal of foreign capital and the global market adopting a weak stance, there has been a recession in the market today. A decline has been recorded in both the major indices of the domestic market. BSE Sensex fell 240.75 points to 81,579.37 in early trade. Whereas NSE Nifty slipped 62.7 points to 24,994.65 points.
Among the 30 Sensex listed companies, shares of Mahindra & Mahindra, Nestle, UltraTech Cement, Kotak Mahindra Bank, Tata Consultancy Services and IndusInd Bank have suffered the most. Shares of HDFC Bank, Asian Paints, Bajaj Finserv and Sun Pharma were among the gainers.
Rupee fell
The rupee fell by 3 paise to 84.07 per dollar in the pre-opening session on Wednesday amid the strengthening of the American currency. Forex traders said that the rupee may trade in a limited range during the day, as the local currency is under pressure due to the strong dollar and soft trend in the domestic stock markets. However, weak crude oil prices may provide support to the local currency.
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condition of foreign markets
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 were in loss, while China's Shanghai Composite and Hong Kong's Hang Seng were in profit. The US market closed with a negative trend yesterday.
Dollar index decline
At the interbank foreign exchange market, the rupee opened at 84.03 per dollar in early trade and then touched 84.07 per dollar after initial deals, showing a decline of 3 paise over its previous close. The rupee had closed at 84.04 against the US dollar on Tuesday. Meanwhile, the dollar index, which gauges the US dollar's position against six major currencies, was down 0.06 per cent at 103.19.
sell shares at this price
International standard Brent crude stood at $ 74.42 per barrel with a gain of 0.23 percent. According to stock market data, foreign institutional investors (FIIs) were sellers on Tuesday and sold shares worth a net Rs 1,748.71 crore.
(with agency input)
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