Reliance Industries in the stock market, Sensex and Nifty declined due to selling in banking stocks. BSE Sensex declined by 578.19 points and NSE Nifty was trending at 144.7 points. At the same time, the rupee has strengthened against the dollar.
MUMBAI: The domestic stock market on Friday saw a decline in major stock indices Sensex and Nifty in early trade due to continuous foreign fund outflows and selling in Reliance Industries and banking stocks. During this, the 30-share BSE Sensex fell 578.19 points to 59,626.87 points. The NSE Nifty was down 144.7 points at 17,747.25 points.
Gainers and losers
In the Sensex, ICICI Bank, HDFC, Axis Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank and HDFC Bank were among the major losers. On the other hand, gains were seen in Tata Motors, ITC, Mahindra & Mahindra and Tata Steel. In other Asian bourses, Seoul, Tokyo and Shanghai were trading with gains. While Hong Kong was dealing with some downside. The US market closed with gains on Thursday. According to provisional data of the stock market, foreign institutional investors (FIIs) sold shares worth Rs 2,393.94 crore on a net basis on Wednesday.
Rupee gains 9 paise at 81.52 against dollar
In early trade, the rupee gained 9 paise to 81.52 against the US dollar. The domestic currency also got a boost on expectations of inflow of foreign capital in Rs 20,000 crore FPO of Adani Enterprises. The rupee opened at 81.51 against the US dollar at the Interbank Foreign Exchange market. Its previous closing price was 81.61. It was trading in the range of 81.50 to 81.58 in early deals. Meanwhile, the dollar index, which shows the position of the US dollar against six major currencies, rose by 0.08 percent to 101.92. Global oil index Brent crude futures were up 0.34 per cent at $87.77 per barrel.