The Sensex and Nifty fell due to foreign investment withdrawals and global market movements. Major laggards were Tata Motors, Mahindra, and Axis Bank. As the rupee traded in a limited range versus the US dollar, foreign institutional investors sold Rs 1,500.13 crore in shares…
On Monday, October 30, Sensex and Nifty fell amid foreign fund outflows and global market slowdowns. Early trade saw the 30-share BSE Sensex fall 179.06 points to 63,603.74. Nifty fell 49.25 points to 18,998.
Tata Motors, Mahindra & Mahindra, Maruti, Power Grid, Bajaj Finance, Larsen & Toubro, Titan, and Axis Bank disappointed Sensex investors. Reliance Industries, Tech Mahindra, UltraTech Cement, and TCS gained. Tokyo and Hong Kong traded negatively, while Seoul and Shanghai traded well.
Brent fell 1.23 percent to USD 89.37 a barrel. According to market statistics, FIIs sold Rs 1,500.13 crore in stocks on Friday.
Foreign Portfolio Investors (FPIs) have withdrawn out approximately Rs 20,300 crore from Indian equities this month due to a steep rise in the US government yield and the Israel-Hamas conflict. On Friday, the BSE benchmark rose 634.65 points or 1.01 percent to 63,782.80. The broader Nifty rose 190 points (1.01%) to 19,047.25.
Indian rupee-US dollar range is small.
As local equities fell, the rupee traded in a limited range against the US dollar in early trade on Monday. Foreign fund outflows and the strength of the US dollar internationally weighed on investor emotions, keeping the rupee in a limited range, forex traders said.
At the interbank foreign exchange, the local unit opened at 83.25 against the dollar and reached 83.24 and 83.26.
Conclusion
Sensex and Nifty fell because to foreign money outflows and slow global markets. Early trade saw the BSE Sensex fall 179.06 points to 63,603.74 and the Nifty fall 49.25 points to 18,998. Tata Motors, Mahindra & Mahindra, Maruti, Power Grid, Bajaj Finance, Larsen & Toubro, Titan, and Axis Bank lagged. Reliance Industries, Tech Mahindra, UltraTech Cement, and TCS gained. Seoul and Shanghai were green, while Tokyo and Hong Kong were negative. Brent fell 1.23 percent to $89.37. Foreign Institutional Investors (FIIs) sold Rs 1,500.13 crore in Indian equities on Friday, while FPIs sold almost Rs 20,300 crore this month. The BSE benchmark rose 634.65 points or 1.01 percent to 63,782.80, while the Nifty rose 190 points to 19,047.25.
