Share Market Update: Market broken on Dhanteras, Sensex fell 186 points, Nifty below 19350
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Share Market Update: The Indian stock market started with a decline on the day of Dhanteras amid weak signals from the global market and continuous withdrawal of foreign funds. BSE’s 30-share Sensex fell 251.25 points to 64,580.95. Whereas, Nifty was trading at 19,329.45 after slipping 65.85 points. Earlier at 7.30 am, GIFT Nifty was trading at 19,375, indicating the possibility of a gap of about 50 points on Nifty 50. Yesterday American indices fell by up to 1 percent. At the same time, Hang Seng fell by 1.5 percent. The Nikkei and Kospi were down 1 percent, while Shanghai and Taiwan markets slipped about 0.5 percent. Meanwhile, in the Indian market, among the Sensex companies, shares of Titan, Mahindra & Mahindra, IndusInd Bank, Asian Paints, Tata Steel, Maruti, Tata Motors and Nestle remained in loss. Whereas shares of Bajaj Finance, Power Grid, Tech Mahindra and NTPC were in profit. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng are in loss.
American market closed down by one percent
The American market had closed down by about one percent on Thursday. At the same time, global oil standard Brent crude was trading at $ 80.28 per barrel with a gain of 0.34 percent. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,712.33 crore on Thursday. Today 3M India, Biocon, Fortis Healthcare, Hindustan Aeronautics, Hindalco, Hindustan Copper, Hindustan Oil Exploration, HUDCO, Igarashi Motors, Kothari Products, Life Insurance Corporation of India, Mahindra & Mahindra, MTNL, ONGC, PTC India, RCF, SAIL, Sundaram Many other companies including Brex, Sun TV, Tata Chemicals, TNPL and Zuari Industries will release their results for the quarter ending September.
Rupee rises by one paise at 83.28 per dollar in early trade
The rupee rose by one paise to 83.28 against the US dollar in early trade on Friday amid weak American currency and softening crude oil prices. However, the decline in domestic markets and continuous withdrawal of foreign funds affected the sentiment of foreign investors, forex traders said. The rupee opened at 83.28 against the dollar in the interbank foreign exchange market. This is an increase of one paisa from the previous closing price. The rupee had closed at 83.29 against the American currency on Thursday. Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, declined by 0.04 percent to 105.86.
Indian market had closed down yesterday also
The atmosphere of turmoil continued throughout the day in the stock market on Thursday. Finally, by the time the market closed, BSE Sensex fell by 143 points. The market remained in loss due to selling of shares of IT, daily use goods companies and oil companies amid continued withdrawal of foreign institutional investors (FIIs) and mixed trend in global markets. In volatile trading, BSE Sensex based on 30 shares closed at 64,832.20 points with a decline of 143.41 points or 0.22 percent. At one time during trading it had fallen to 206.85 points. National Stock Exchange’s Nifty also closed at 19,395.30 points with a loss of 48.20. Hindustan Unilever fell the most among Sensex companies by 1.58 percent. Apart from this, Tech Mahindra, Infosys, Reliance Industries, Bajaj Finance, Tata Consultancy Services, Titan and UltraTech Cement were major losers. On the other hand, the profitable stocks include Mahindra & Mahindra, Power Grid, IndusInd Bank, Tata Motors, Larsen & Toubro and Maruti. Vinod Nair, Head of Research, Geojit Financial Services, said that in line with the mixed trend globally, the Indian market remains in a limited range and the Nifty index is not able to go above the key level of 19,500.
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