Early trade saw Asian markets and foreign fund outflows weaken equity benchmark indices. Bajaj Finance rose while Sensex firms like Bajaj Finserv fell. The rupee fluctuated against the dollar.
Weak Asian markets and foreign fund outflows lowered equities early Tuesday. Early trade saw the 30-share BSE Sensex fall 94.08 points to 71,847.49. Meanwhile, the Nifty fell 31.6 points to 21,706 points.
Bajaj Finance fell nearly 4% on the Sensex after disappointing December quarter earnings. Bajaj Finserv, UltraTech Cement, Titan, NTPC, Larsen & Toubro, and Reliance lagged. Tata Motors, JSW Steel, Hindustan Unilever, and Wipro gained.
Seoul and Tokyo rose, Shanghai and Hong Kong declined.
The rupee traded in a narrow range against the US dollar early Tuesday as domestic equities fell. Forex traders reported a narrow rupee range as rising crude oil prices weighed on investor sentiment.
At interbank foreign exchange, the rupee hit 83.13 and 83.15 against the dollar after opening at 83.14.
Conclusion
The BSE Sensex and Nifty fell early due to weak Asian market trends and foreign fund outflows. Banj Finance, UltraTech Cement, Titan, NTPC, Larsen & Toubro, and RIL gained. Risen crude oil prices kept the rupee rangebound against the US dollar, opening at 83.14.
