Stock Market Today: On Wednesday, the equity benchmark indices started off poorly amid conflicting global indications. The 30-share BSE Sensex dropped 202.34 points to 65,743.13 on the index. To 19,604.15, the Nifty dropped 60.55 points. The main laggards among the Sensex companies were Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan, and ICICI Bank. Among the winners were Sun Pharma, IndusInd Bank, Larsen & Toubro, and UltraTech Cement.
Asian markets saw Shanghai and Hong Kong quoted in the green but Seoul and Tokyo were trading in the red. The US stock markets fell on Tuesday. Benchmark Brent crude for world oil increased 0.99 percent to USD 94.89 per barrel.
According to exchange statistics, foreign institutional investors (FIIs) sold shares of stock worth Rs 693.47 crore on Tuesday. The BSE benchmark dropped 78.22 points, or 0.12%, to end the day at 65,945.47. The larger Nifty ended the day down 9.85 points, or 0.05 percent, at 19,664.70.
rupee increases versus dollar
The rupee recovered from its severe loss in the previous two sessions amid a big sell-off by foreign equity investors and a strengthening American currency, rising 5 paise to 83.23 against the US dollar in early trade on Wednesday. According to FX traders, the Indian rupee also suffered from sluggish sentiment on the world equity markets and rising crude oil prices.
The domestic currency versus the US dollar began at 83.23 on the interbank foreign exchange and moved in a constrained range from 83.21 to 83.24. It then exchanged hands at 83.23 against the dollar, up 5 paise from its previous close. In the previous two sessions, the rupee fell 34 paise. It lost 19 paise the day before, and on Tuesday it closed 15 paise lower, at 83.28 against the dollar.
Conclusion:-
Due to conflicting global cues, the BSE Sensex and Nifty indices opened adversely, with the Sensex losing 202.34 points and the Nifty losing 60.55 points. Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan, and ICICI Bank were among the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro, and UltraTech Cement were among the gainers. While Shanghai and Hong Kong were quoted in green on Asian markets, Seoul and Tokyo were trading in the red. On Tuesday, foreign institutional investors sold shares of stock worth Rs 693.47 crore. Early trading saw the rupee gain 5 paise against the US dollar, reversing a significant loss over the previous two sessions brought on by heavy selling by foreign equity investors and a stronger US dollar. The Indian rupee was hit by both the rising price of crude oil and the negative attitude in the world financial markets.
