Equity benchmark indices opened negative on the first day of new year 2024. BSE Sensex and Nifty fall, while foreign institutional investors bought equities worth Rs 1,459.12 crore.
On Monday, January 1, 2024, equity benchmark indices opened negative due to profit-taking following a rapid gain and no global market trends. Early trade saw the 30-share BSE Sensex fall 207.29 points to 72,032.97. Meanwhile, the Nifty slid 46.65 points to 21,684.75 points.
Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, Tata Consultancy Services, NTPC, HDFC Bank, and Kotak Mahindra Bank lagged the Sensex.
Winners included Tata Motors, Nestle, IndusInd Bank, and Power Grid. Asian markets were closed on New Year’s Monday. The US markets fell slightly Friday. Brent fell 0.14 percent to USD 77.04 per barrel.
FIIs acquired Rs 1,459.12 crore in stocks on Friday, according to market data. The BSE benchmark slid 170.12 points (0.23%) to 72,240.26 on Friday, the last trading day of 2023. The Nifty fell 47.30 points (0.22%) to 21,731.40.
Rupee/dollar
In the morning, domestic equities fell and importers demanded dollars, depreciating the rupee 3 paise to 83.19 against the US dollar. Forex traders said the rupee is trading in a limited range due to the strength of the US dollar overseas, negating support from falling crude oil prices.
After opening at 83.18 versus the dollar, the rupee slipped 3 paise to 83.19 at the interbank foreign exchange. Early activity saw the rupee hit 83.15 against the US dollar.
Conclusion
The BSE Sensex fell 46.65 points and the Nifty 72,032.97 points on January 1, 2024. Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, TCS, NTPC, HDFC Bank, and Kotak Mahindra Bank lagged. Tata Motors, Nestle, IndusInd Bank, and Power Grid won. Asian markets closed on Monday for the New Year, while US stocks fell slightly.
