Sensex and Nifty opened in the red due to weak global cues. HDFC Bank fell 6% after December quarter earnings, while Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance lagged. Rupee declined 3 paise vs dollar.
On Wednesday, Sensex and Nifty opened in the red due to negative global cues. Early trade saw the 30-share BSE Sensex tumble 1,371.23 points to 71,757.54. Meanwhile, the Nifty lost 395.35 points to 21,636.95.
After December quarter earnings, HDFC Bank fell nearly 6% on the Sensex. HDFC Bank’s October-December net profit rose 2.65% to Rs 17,258 crore from Rs 16,811 crore in September.
Axis Bank, Tata Steel, Kotak Mahindra, ICICI Bank, Tata Motors, and Bajaj Finance also lagged. TCS, Reliance Industries, UltraTech Cement, Infosys, HCL, and Tech Mahindra gained. Tokyo increased while Seoul, Shanghai, and Hong Kong declined. US markets slumped Tuesday.
Rupee falls against dollar
The rupee decreased 3 paise to 83.15 USD. robust US dollar strength against key global currencies and robust domestic equity market selling affected this pattern. Forex traders say foreign capital entering local equity markets and dropping crude oil prices buffered the rupee’s slide. The rupee opened at 83.13 and slipped 3 paise to 83.15 against the dollar at the interbank foreign exchange.
Conclusion
The BSE Sensex and Nifty opened in red on Wednesday due to global influences. HDFC Bank fell almost 6% after its December quarter earnings, while Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance lagged. The rupee decreased 3 paise to 83.15 USD. International crude oil prices decreasing and foreign investors buying domestic stocks countered the decline.
Sensex and Nifty opened in the red on weak global signals. HDFC Bank fell 6% after December quarter earnings, while Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance lagged. Rupee declined 3 paise vs dollar.
On Wednesday, Sensex and Nifty opened in red due to negative global indicators. Early trade saw the 30-share BSE Sensex tumble 1,371.23 points to 71,757.54. Meanwhile, the Nifty lost 395.35 points to 21,636.95.
After December quarter earnings, HDFC Bank fell nearly 6% on the Sensex. HDFC Bank’s October-December net profit rose 2.65% to Rs 17,258 crore from Rs 16,811 crore in September.
Axis Bank, Tata Steel, Kotak Mahindra, ICICI Bank, Tata Motors, and Bajaj Finance also lagged. TCS, Reliance Industries, UltraTech Cement, Infosys, HCL, and Tech Mahindra gained. Tokyo increased while Seoul, Shanghai, and Hong Kong declined. US markets slumped Tuesday.
Rupee falls against dollar
The rupee decreased 3 paise to 83.15 USD. robust US dollar strength against key global currencies and robust domestic equity market selling affected this pattern. Forex traders say foreign capital entering local equity markets and dropping crude oil prices buffered the rupee’s slide. The rupee opened at 83.13 and slipped 3 paise to 83.15 against the dollar at the interbank foreign exchange.
Conclusion
The BSE Sensex and Nifty opened in the red on Wednesday due to global cues. HDFC Bank fell almost 6% after its December quarter earnings, while Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance lagged. The rupee decreased 3 paise to 83.15 USD. International crude oil prices decreasing and foreign investors buying domestic stocks countered the decline.
