Early trade saw the BSE Sensex and Nifty fall. ICICI Bank, Power Grid, HDFC Bank, Bharti Airtel, Asian Paints, Larsen and Toubro lagged. US markets gained somewhat, as the rupee fell versus the dollar…
After three days of gains, equity benchmark indices fell early Tuesday. The Nifty fell 63.05 points to 19,348.70 while the 30-share BSE Sensex fell 216.73 points to 64,741.96. ICICI Bank, Power Grid, HDFC Bank, Bharti Airtel, Asian Paints, and Larsen & Toubro lagged the Sensex, while Bajaj Finserv, IndusInd Bank, Bajaj Finance, and Sun Pharma gained.
Tokyo, Shanghai, Hong Kong, and Seoul were bearish in Asian markets.
US markets gained slightly on Monday. Brent fell 0.49 percent to USD 84.76 a barrel.
On Monday, FIIs sold Rs 549.37 crore in stocks, according to exchange data.
The BSE benchmark rose 594.91 points (0.92%) to 64,958.69 on Monday. The Nifty rose 181.15 points, or 0.94 percent, to 19,411.75.
Due to a strong US dollar and foreign investment outflows, the rupee fell 5 paise to 83.26 in the morning session on Tuesday.
Forex traders say falling domestic equities hurt the local currency. At the interbank foreign exchange, the rupee opened at 83.23 and fell 5 paise to 83.26 versus the US dollar.
Conclusion
On Tuesday morning, equity benchmark indices fell after a three-day surge. Sensex declined 216.73 points to 64,741.96, Nifty fell 63.05 to 19,348.70. ICICI Bank, Power Grid, HDFC Bank, Bharti Airtel, Asian Paints, and Larsen & Toubro lagged, while Bajaj Finserv, IndusInd Bank, Bajaj Finance, and Sun Pharma gained.
Global markets mixed. Asian markets ended mainly down, but US markets gained somewhat. Brent fell 0.49% to USD 84.76 per barrel.
On Monday, FIIs sold Rs 549.37 crore in stocks. This lowered domestic equities markets.
On Tuesday morning, the rupee fell 5 paise to 83.26 per dollar. Due to a strong US dollar and foreign fund outflows.
In general, the market outlook is unpredictable. International and domestic economic statistics will be eagerly watched by investors.
