The break on the decline in the domestic stock market (January 23) could not continue for long. Once again, a decline has been recorded in the Sensex and Nifty in the stock market. BSE Sensex fell by 268 points, while NSE Nifty registered a decline of 90 points.
Mumbai: The stock market fell by more than 700 points in early trade. Major equity indices Sensex and Nifty declined in early trade on Wednesday due to selling in financial, oil and IT stocks amid a weak global trend. During this, the BSE Sensex fell 722 points or 01.43 percent to 60,709.93 points. The NSE Nifty was trading at 18,028.05, down 90.25 points or 0.5 percent.
UltraTech Cement, SBI, IndusInd Bank, Axis Bank, HDFC Bank, Kotak Bank, L&T, Reliance Industries, Tech Mahindra, Wipro, Infosys and TCS were among the major losers on the Sensex. On the other hand, gains were seen in Tata Steel, HUL and Maruti.
Meanwhile, global oil benchmark Brent crude was down 0.43 per cent at $86.48 per barrel. The effective price of crude oil for India declined by 2.69 per cent to $79.98 per barrel. According to the provisional data of the stock market, foreign institutional investors (FIIs) sold shares worth a net Rs 760.51 crore on Tuesday.
Rupee rises 20 paise to 81.50 against dollar
The rupee appreciated by 20 paise to 81.50 against the American currency in early trade on Wednesday due to weakening of the US dollar in global markets. However, early losses in domestic equity markets and a rise in crude oil prices limited the rupee’s gains. The rupee opened at 81.62 and touched a high of 81.49 at the Interbank Foreign Exchange market. Till the time of writing the news, the rupee was at 81.50 against the US dollar. The rupee had closed at 81.70 on Tuesday. Meanwhile, the dollar index, which shows the position of the US dollar against a basket of six major currencies, fell 0.04 percent to 101.88.