Share Market Today: Stock markets opened with a big fall, Sensex fell by 800 points, Nifty also fell; Rupee reached its lowest level
Mumbai. Domestic stock markets witnessed a big fall in early trade on Monday amid negative signals from abroad. BSE Sensex opened at 73,732.58 points, falling by 800.38 points and fell to 72,977.34 points, falling by 1,555.62 points. At the time of writing, it was down 1,293.73 points (1.74 percent) at 73,239.23 points. The Nifty-50 index of the National Stock Exchange also slipped by 407.55 points or 1.76 percent to 22,706.95 points. Due to the West Asia crisis, a decline is being seen in the stock markets globally.
Apart from this, investment sentiment is also being affected due to weakening of rupee. In the interbank currency market, the rupee is currently down by 34.50 paise at Rs 93.88 per dollar. There is an all-round decline in the market. The indices of metal and public sector bank groups are down by more than three per cent.
Indices from auto, finance, realty, consumer durables and chemicals sectors fell more than two per cent. There were also big declines in FMCG, IT, media, pharma, private banks, health and oil and gas sectors. HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, L&T, Axis Bank and Tata Steel contributed more to the Sensex fall.
Rupee falls 41 paise to all-time low of 93.94 per dollar
The rupee fell 41 paise to an all-time low of 93.94 per dollar in early trade on Monday. The domestic currency is under pressure due to high global crude oil prices and strong dollar trend due to the ongoing war in West Asia. Forex traders said continued outflows of foreign capital and a sharp fall in domestic stock markets in the morning session further weakened the local currency. The rupee opened at 93.84 against the dollar in the interbank foreign exchange market.
However, it later fell to a record low of 93.94 per dollar, which shows a decline of 41 paise from the previous closing price. On Friday, the rupee fell below the 93 level against the dollar for the first time and eventually fell 64 paise to close at an all-time low of 93.53. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, stood at 99.66, up 0.02 per cent.
Domestic stock markets Sensex fell 1,306.27 points or 1.75 per cent to 73,226.69 while Nifty fell 418.25 points or 1.81 per cent to 22,696.25. The price of international standard Brent crude fell by 0.60 percent to $ 112.90 per barrel. According to stock market data, foreign institutional investors (FIIs) were buyers on Friday and sold shares worth Rs 5,518.39 crore.
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