‘Amangal’ in stock market on Tuesday as well; Sensex-Nifty continue to fall, IT shares fall by 1%
New Delhi| There is an atmosphere of ‘unwillingness’ in the stock market on Tuesday also. Major benchmark indices seem to be slipping. IT shares have fallen by as much as 1% during this time. In early trade, Sensex was seen trading down 347.07 points at 72,738.87 and Nifty was seen trading down 109.85 points at 22,009.45.
Reliance Industries and IT sector stocks showed pressure during early trading on Tuesday. Asian markets showed a decline after former US President Donald Trump confirmed that he would move ahead with his proposed tariff plan. This also affected Indian stocks.
Rupee weakened by eight paise against dollar
The rupee fell eight paise to 87.40 against the US dollar in early trade on Tuesday due to continued outflows of foreign capital and the current liquidity deficit. Forex traders said the ongoing uncertainty caused by the US imposition of tariffs has caused turmoil in financial markets. Furthermore, tariff chaos has created instability and uncertainty in the US dollar index.
In the interbank foreign exchange market, the rupee opened at 87.38 against the US currency and then fell to 87.40, representing a fall of 8 paise from the previous closing price. On Monday, the rupee closed at 87.32 against the US dollar, up 5 paise.
Tension increased in global trade due to Donald Trump’s tariff policies
Meanwhile, the dollar index, measuring the strength of the dollar against six currencies, was down 0.12 per cent at 106.61. This decline has come amid increasing trade tensions due to the tariff policies of US President Donald Trump. Global oil standard Brent crude futures trading fell 0.63 percent to speak at $71.17 a barrel.
In the domestic stock market, the 30-share BSE Sensex was trading at 72,910.33, down 175.61 points or 0.24 per cent in morning trade, while the Nifty was down 61.55 points or 0.28 per cent at 22,057.75.
