The key stock index BSE Sensex began 340.76 points lower at 54,054.47 in early trade on Tuesday as a result of weakness in global markets. NSE Nifty opened at 16,143.35 while losing 72.65 points at the same time. However, a comeback is now apparent after the market’s decline up to 11 a.m. in the morning. Sensex has broken 186.75 points and is currently trading at 54,208.48. NSE Nifty is down 70.85 points at 16,145.15 at the same time.
These stocks saw a decline
Top Sensex losers included Tata Steel, Titan, Bajaj Finserv, HDFC, UltraTech Cement, Nestle, Bajaj Finance, and ICICI Bank. In contrast, NTPC, Wipro, Tata Consultancy Services, and Bharti Airtel all had positive returns. In other Asian markets, stocks were trading at lower prices in Shanghai, Tokyo, Seoul, and Hong Kong. US stocks closed Monday with a loss. On Monday, shares owned by foreign institutional investors were sold for a net amount of Rs 170.51 crore, according to preliminary stock market statistics.
Rupee breaks to record low level
Due to a decline in the domestic equity market and a firming US currency abroad, the rupee on Tuesday dropped 13 paise to 79.58 against the US dollar in early trade. Additionally, ongoing sales of foreign currency and a rise in the price of crude oil, according to forex traders, placed pressure on the local currency.
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The Indian rupee depreciated 13 paise over the previous closing price, falling from 79.55 to 79.58 versus the US dollar in the interbank foreign currency market. The US dollar’s performance against the other six major currencies is gauged by the dollar index, which rose 0.27 percent to 108.31.