Suspense on US trade deal with a flat start of the stock market, Sensex-Nifty rolled down, these stocks boom well
On American trade deal The Indian market has started flat for the second consecutive day with suspense. The BSE Sensex is trading at 83,401.94 points in early trade on Tuesday. At the same time, NSE Nifty has broken 7.20 points to open at 25,454.10. If you look at the shares included in the Sensex, there is a boom in the shares like Kotak Mahindra Bank, Tata Motors, Asian Paints, BEL, NTPC etc. If you look at the falling shares, there is a decline in Titan, Sun Pharma, HCLTech, M Hindra & Mahindra shares.
Let us tell you that investors have taken a cautious stand with the July 9 deadline for the implementation of US fee. According to market experts, concern over the trade agreement between India and the United States led to the ups and downs in the market. The duration of the US to be deferred on various countries including India for 90 days ends on 9 July. An additional import duty of 26 percent has been announced on Indian products imported into the US.
Global markets boom
Among the 30 companies included in the Sensex, Kotak Mahindra Bank, Bharat Electronics Limited, Tata Motors, NTPC and Adani Ports were in share benefits. However, shares of Titan, Mahindra & Mahindra, Sun Pharma, HCL Tech and Trent were in loss. Among the Asian markets, Nikki 225 of Japan, Chinese Shanghai SSE Composite, Hong Kong’s Hangseng and South Korea were in the best. The American markets closed with a negative attitude on Monday.
Crude oil becomes cheaper
International standard Brent crude fell by 0.36 percent to $ 69.33 per barrel. According to the stock market data, foreign institutional investors (FIIs) were living on Monday and purely bought shares worth Rs 321.16 crore. Domestic institutional investors (DIIs) also bought shares worth Rs 1,853.39 crore.
Rupee stronger against dollar
The rupee rose by 22 paise to 85.72 per dollar on Tuesday due to fall in crude oil prices globally and the US dollar weakened. Foreign currency traders said that local currency was further strengthened from the flow of foreign capital and positive domestic stock market. Rupee in the Interbank Forex Exchange Market opened at 85.75 against the US dollar. Then reached 85.72 per dollar, which shows a gain of 22 paise in the previous closed price. The rupee closed at 85.94 against the US dollar on Monday with a steep decline of 54 paise.
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