Weak trend in Asian markets declines in early trade in Sensex and NIFTY, rupee strengthened 12 paise
Share Bazaar News: Sensex and Nifty recorded early trade on Monday amid weak trend and global trade concerns in Asian markets. Experts reported that the withdrawal of foreign capital also influenced the notion of investors. BSE Sensex declined by 762.24 points to 80,688.77 points in early trade while NSE Nifty slipped 212.25 points to 24,538.45 points. On the other hand, Rupee (Rupee) has strengthened by 12 paise against dollar.ALSO READ: BAT sold 2.5 percent stake in ITC, deal for 12,927 crores, what happened to shares?
Shares of these major companies fluctuate: The 30 companies included in the Sensex led to the most decline in shares of HDFC Bank, HCL Tech, Reliance Industries, Infosys, Tech Mahindra, Bajaj Finance, Larsen & Tubr, Tuton, Tata Consultancy Services and Tata Steel. The shares of Hindustan Unilever, Adani Ports, Mahindra & Mahindra, IndusInd Bank and Nestle were in the lead.
In Asian and American markets: Among the Asian markets, South Korea’s Cappey, Japan’s Nikki 225, Shanghai SSE Composite and Hong Kong’s Hangseng were in disadvantage. The American markets were closed with mixed trend on Friday. International standard Brent crude gained 2.20 percent to $ 64.16 per barrel. According to the stock market data, foreign institutional investors (FIIs) were selling on Friday and purely sold shares worth Rs 6,449.74 crore.Also Read: Share Market Today: After becoming India’s fourth largest economy
Rupee climbed 12 paise to 85.43 per dollar: The rupee strengthened by 12 paise to 85.43 per dollar on Monday amid a weak trend of American currency. The domestic currency was also strengthened by the major interest rate and expectations of deduction in the upcoming monetary policy of the Reserve Bank of India (RBI).
The growth of Indian currency was limited: Foreign currency traders said that although the unstable stock market was limited by high crude oil prices amidst withdrawal of foreign capital and global trade. The rupee opened at 85.55 per dollar in the Interbank Forex Exchange Market. Early trade rose to 85.43 per dollar, showing a growth of 12 paise in the previous closed price. The rupee closed at 85.55 against the US dollar on Friday.Also Read: Share Market Today: Sensex 625 points broken due to profit booking in banks and IT shares, NIFTY also dropped by 175 points
Meanwhile, the dollar index, depicting the US dollar position against 6 major currencies, fell 0.05 percent to 99.21. The BSE Sensex fell 709.10 points to 80,741.91 points in the domestic stock market, while the Nifty slipped 196.00 points to 24,554.70 points. RBI (RBI) Monetary Policy Committee (MPC) will start its next bilateral policy on 4 June and its results will be declared on 6 June. (Language)
Edited by: Ravindra Gupta
