Early trading saw the BSE Sensex and Nifty fall owing to unfavorable Asian market trends and foreign money outflows. Both indexes recovered after foreign fund inflows. The rupee fell versus the dollar.
Equity benchmark indexes fell early Thursday due to poor Asian markets and ongoing foreign money outflows. Early trading saw the 30-share BSE Sensex fall 168.91 points to 65,507.02. Nifty fell 48.45 points to 19,627.
Both subsequently recovered to positive quotes. positive owing to foreign money inflows. The Sensex rose 101.16 points to 65,777.64 and the Nifty 23 points to 19,698.45.
Sensex laggards included Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan, and Tata Steel. Tata Motors, HCL Technologies, NTPC, and TCS gained.
US and Asian markets
Seoul, Tokyo, Shanghai, and Hong Kong fell. US markets rose Wednesday. Brent fell 0.75 percent to USD 80.57 a barrel. After continued share selling, FIIs purchased Rs 550.19 crore in equities on Wednesday, according to exchange data.
Rupee falls versus dollar
The rupee fell 9 paise to 83.18 versus the US dollar in early trading on Thursday owing to a robust greenback offshore.
Forex traders claimed FII inflows and crude oil price losses limited the rupee’s slide. The rupee fell to 83.18 US dollars in the interbank foreign exchange market. It traded tightly in the morning.
Conclusion
Asia’s BSE Sensex and Nifty fell 168.91 and 19,627 points in early trading. Foreign money inflows restored both indexes to positive territory. Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan, and Tata Steel were Sensex laggards. Tata Motors, HCL Technologies, NTPC, and TCS gained. Seoul, Tokyo, Shanghai, and Hong Kong fell on Wednesday, while US markets rose. After selling shares, Foreign Institutional Investors (FIIs) purchased Rs 550.19 crore in stocks. Brent crude fell 0.75 percent to USD 80.57 a barrel. In early trading, the rupee fell 9 paise to 83.18 versus the US dollar, although FII inflows and crude oil prices limited the slide.
