Stock market fell after initial gains, Sensex and Nifty slipped; Rupee at all-time low
New Delhi| The sharp start in the domestic stock market on Thursday did not last long. The stock market, which opened on the green mark, came on the red mark after some time. Sensex rose 280.38 points to 78,551.66 points in early trade, while Nifty rose 77.25 points to 23,773.55 points. At present Sensex is trading with a fall of more than 150 points and Nifty with a fall of more than 50 points. Foreign institutional investors (FIIs) were sold on Wednesday and sold shares worth Rs 1,682.83 crore, according to stock market data. In similar early trade, the rupee fell 12 paise to an all-time low of 87.55 against the US dollar.
Such was the market movement
Domestic markets Sensex and Nifty started trading on a positive note, but soon they lost early gains and started trading on a decline. BSE Sensex rose 280.38 points to 78,551.66 in early trade. NSE Nifty stood at 23,773.55 points, up 77.25 points. However, later, both lost early gains and started trading with a decline. Sensex fell by 126.78 points at 78,141.80 points and Nifty slipped by 42.85 points at 23,653.45 points.
Who benefits and who suffers?
Shares of Mahindra & Mahindra, Titan, Tata Steel, ITC, NTPC, Bharti Airtel, HDFC Bank and Kotak Mahindra Bank were the biggest losers among the 30 Sensex-listed companies. Shares of Power Grid, Bajaj Finance, Infosys, Tech Mahindra, HCL Technologies, Reliance Industries and Hindustan Unilever were among the gainers.
Rupee falls 14 paise to all-time low
The rupee fell 14 paise to its all-time low of 87.57 per dollar in early trade on Thursday amid fears of a Reserve Bank of India (RBI) cut in interest rates and weak economic data. The rupee opened at 87.54 per dollar in the interbank foreign exchange market and slipped to an all-time low of 87.57 against the dollar in early trade, representing a fall of 14 paise from the previous closing price. The rupee had fallen 36 paise on Wednesday to close at an all-time low of 87.43 against the US dollar.
