The domestic stock market started on Thursday with weakness. The impact of an additional 25% tariff imposed on India by US President Donald Trump on the purchase of Russian oil was clearly visible on the perception of investors. This tariff has become effective since Wednesday, which has now levied a total of 50% fee on India. In addition, the selling of foreign institutional investors, ie FII also increased the pressure on the market. The Sensex fell 508.16 points to 80,278.38 in early trade. The Nifty fell 157.35 points to 24,554.70.
Top gainer and top loser stock
The Sensex included HCL Tech, HDFC Bank, Power Grid, Sun Pharma, NTPC, Bharat Electronics major shares which were seen in the fall. However, major shares with edge emerged at Artnel, Asian Paints, Titan, Maruti, Larsen & Toubro.
What are you saying
According to the news of PTI, the main investment strategist of Geojit Financial Services, V.K. Vijaykumar says that 50% of tariffs imposed on India will affect the market notion short -term, but it is being seen as a temporary position that will probably be resolved soon. He further said that the major challenge of the market is high valuation and weak income growth. However, domestic institutional investors (DIIs) are constantly supporting the aggressive purchase market.
Rupee increased by 10 paise to 87.59 in early trade
On Thursday, the rupee rose by 10 paise to 87.59 against the US dollar in early trade, which supported the softening of the weak dollar index and the prices of Brent crude. In addition, according to Forex traders, the Reserve Bank of India took steps to protect the local currency from crossing its all -time lower levels, giving more support to the local currency. In the Interbank Forex Exchange Market, the rupee opened at 87.56 against the dollar, but later reached 87.59, which shows a 10 paise gains with a last closed price.
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