Mumbai, 16 December. There is a big fall in the domestic stock market in the initial session on Tuesday. At around 10.19 am, the BSE Sensex was seen trading at a level of 84,786.04 with a fall of 427.32 points. Similarly, NSE’s Nifty also fell by 124.90 points and was seen trading at the level of 25,902.40. Major gainers in Nifty include Tata Consumer, Bharti Airtel, Apollo Hospitals, Titan Company and Asian Paints, on the other hand, Axis Bank, Tata Steel, Jio Financial, Hindalco Industries and HCL Technologies remain the top losers.
BSE midcap and smallcap stocks also declined
Among Sensex companies, Eternal, Axis Bank, HCL Tech, Infosys, Tata Steel and Bharat Electronics were among the major laggards. However, Bharti Airtel, Asian Paints, Tata Motors Passenger Vehicles and Titan were among the gainers. BSE midcap and smallcap stocks are also looking bearish and both are trading around 0.4% down. Talking about sectors, except FMCG and telecom sectors, all other sectoral stocks are trading in red mark.
Rupee got another shock
The Indian rupee hit a record low against the US dollar in early trade on Tuesday. The rupee depreciated by 9 paise and opened at an all-time low of 90.87 per dollar. According to Forex traders, continuous selling by foreign institutional investors and no concrete progress on the India-US trade agreement were the main reasons for pressure on the rupee. However, due to weakness in the dollar and fall in global crude oil prices, further decline in the rupee was not seen. In the Interbank Foreign Exchange market, the rupee was seen trading in the range of 90.77 to 90.87.
The rupee remained under pressure on Monday also and at the end of trading it closed at a new record low of 90.78 per dollar. On Monday, a huge fall of 29 paise was recorded in the rupee, the reason for which is being said to be uncertainty regarding India-US trade deal and continuous withdrawal of foreign funds.
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