Record decline in Sensex, Nifty’s condition worsens; Know here the condition of today’s market

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Record decline in Sensex, condition of Nifty worsens

Share Market: Domestic stock markets declined for the third consecutive day on Monday. BSE Sensex ended with a loss of over 518 points amid a weak trend in global markets. The 30-share Sensex closed at 61,144.84, down 518.64 points, or 0.84 per cent. At one point during the trading, it had gone down to 604.15 points.

The National Stock Exchange’s Nifty also closed at 18,159.95 points, down 147.70 points, or 0.81 percent. Reliance Industries, HDFC, Tata Consultancy Services, Tech Mahindra, Infosys, Bajaj Finance, Wipro and Tata Steel were major losers in the Sensex pack. On the other hand, gainers included Bharti Airtel, Axis Bank, IndusInd Bank, Hindustan Unilever and PowerGrid.

How was the international market?

In other Asian markets, South Korea’s Cospi, China’s Shanghai Composite and Hong Kong’s Hangseng were in losses, while Japan’s Nikkei was in profit. Stock markets in Europe ended with losses in early trade. Wall Street in the US was in the lead on Friday. International oil benchmark Brent crude fell 0.91 per cent to USD 86.82 per barrel. Foreign institutional investors (FIIs) sold shares worth Rs 751.20 crore on Friday, according to stock market data.

Rupee weakens due to market

The rupee on Monday declined by seven paise to close at 81.81 (provisional) against the US dollar at the Interbank Foreign Exchange market due to a weak trend in the domestic equity market and strengthening of the dollar overseas. The rupee opened higher at 81.84 at the Interbank Foreign Exchange market. After touching the day’s high of 81.74 and low of 81.91 during the day, the rupee finally settled down by seven paise at 81.81 against the American currency. The rupee had declined by 10 paise to close at 81.74 per dollar on Friday.

Anuj Chowdhary, research analyst at BNP Paribas Buy Sharekhan, said weak domestic markets and a stronger dollar led to the fall in the rupee. Withdrawals by foreign institutional investors had a negative impact on the rupee. Meanwhile, the dollar index, which shows the weakness or strength of the dollar against six major currencies of the world, rose by 0.83 percent to 107.81. Global oil benchmark Brent crude futures declined 0.76 per cent to USD 86.95 per barrel. At the same time, foreign institutional investors (FIIs) remained net sellers in the capital market. He sold shares worth Rs 751.20 crore on Friday.

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