On the domestic stock market, 50 percent tariffs imposed on India are being seen continuously by the US. The BSE Sensex fell 765.47 points on the last trading day of the week i.e. Friday at 79857.79 level. Similarly, the Nifty was also held at the level of 24,366.30 with a strong weakness of 232.85 points. The Sensex and Nifty declined after a sharp decline in IT and pharma shares in Friday’s trading, although the expectation of the proposed US-Russian president meeting limited the decline.
Most affected companies
Shares of Bharti Airtel, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Axis Bank and Reliance Industries were weak during the trading on Friday. At the same time, shares of NTPC, Titan, Trent, ITC and Bajaj Finserv closed with a boom.
Foreign and domestic investors’ trend
According to PTI news, foreign institutional investors (FIIs) sold shares worth about Rs 4,997.19 crore on Thursday, while domestic institutional investors (DIIs) bought shares worth Rs 10,864.04 crore. From Thursday, the impact of 25% tariffs applied by the US government on goods imported from India was also seen in the market.
Most Asian stock markets decline
Most Asian stock markets witnessed a decline on Friday, although the Tokyo Nikkei 225 index of Japan jumped to 2.2%, although the benefit later declined slightly to 1.9% and closed at 41,820.48. According to PTI news, the main reason for this boom is that Japanese authorities have resolved the ongoing dispute with the US. The new American tariffs, which came into force from Thursday, were not matching with the consent of 15% earlier. However, Japan’s chief trade messenger said that the US has agreed to rectify this mistake.
Rupee lost 13 paise against dollar
The rupee closed at 87.71 (initial) on Friday, falling down by 13 paise against the US dollar. Due to the weakness of the domestic stock market and uncertainty over the Indo-US trade agreement, there is pessimism in the market, causing pressure on the rupee. In the Interbank Forex market, the rupee started the day at 87.56 and trading between 87.52 and 87.75, finally closed at 87.71 (initial).
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