Sensex breaks more than 130 points amid strengthening of rupee, Nifty falls below 17,500

On Monday, the 30-share BSE Sensex closed at 58,853.07, up 465.14 points, or 0.80 percent. The Nifty of the National Stock Exchange also closed at 17,525.10, up 127.60 points, or 0.73 percent.

Sensex and Nifty fall

Amid negative trend in global markets and fall in big stocks like Wipro, Infosys, in early trade on Wednesday Sensex Broke over 130 points. The domestic stock market had a positive start on Wednesday but soon it started declining and the BSE 30-share Sensex fell 131.71 points or 0.22 per cent to 58,721.36 points in early trade. Similarly, the Nifty of the National Stock Exchange also declined by 37.45 points or 0.21 per cent to 17,487.65 points.

The biggest decline of 2.42 percent was in NTPC among the Sensex companies. Apart from this, Wipro, Bajaj Finance, HCL Tech, Infosys and Tech Mahindra were also in losses in early trade. On the other hand, ICICI Bank, Sun Pharma, Nestle India, HUL, Reliance Industries and Maruti were among the gainers. In the previous session, the 30-share BSE Sensex closed at 58,853.07, up 465.14 points, or 0.80 per cent, on Monday. The Nifty of the National Stock Exchange also closed at 17,525.10, up 127.60 points, or 0.73 percent.

In Asian markets, Seoul, Shanghai, Tokyo and Hong Kong were trading in the red, while the US markets also closed with losses. Meanwhile, Brent crude, the international oil standard, fell 0.21 percent to $ 96.11 a barrel. According to available data, foreign investors bought shares worth Rs 1,449.70 crore on Monday.

Rupee saw a rise

The rupee strengthened by 11 paise to 79.52 against the US dollar in early trade on Wednesday due to foreign exchange arrivals and softening crude oil prices. In the interbank foreign exchange market, the rupee opened at 79.59 against the US dollar and touched the level of 79.52, registering an increase in opening deals. In this way, the rupee registered a gain of 11 paise against the previous closing price.

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In the previous session, the rupee had closed at 79.63 against the US dollar on Monday. Domestic stock markets and foreign exchange markets were closed on Tuesday on account of Muharram. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.10 per cent to 106.26. Global oil benchmark Brent crude futures were down 0.27 per cent at $96.05 per barrel.