Home Business & Economy Stock Market: Sensex Sheds 222 Points, Nifty Tests 18,100 On Weak Global Cues. Titan Slips 2 Per Cent

Stock Market: Sensex Sheds 222 Points, Nifty Tests 18,100 On Weak Global Cues. Titan Slips 2 Per Cent

Stock update: On the 30-share Sensex platform, Titan, Kotak Bank, HUL, Infosys, Airtel were the early losers

by News Desk
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The two key equity benchmarks, Sensex and Nifty, on Thursday began trade on a weaker note taking cues from subdued global markets. At 9.55 am, the S&P BSE Sensex declines 222 points to 60,823, while the NSE Nifty50 was trading at 18,093, down 72 points.

On the 30-share Sensex platform, Titan, Kotak Bank, HUL, Infosys, Airtel were the early losers. On the flip side, Axis Bank, L&T, Tata Steel, Sun Pharma, NTPC, and HDFC Bank emerged winners. In the broader markets, the BSE MidCap and SmallCap indices were quoting 0.3 per cent lower each.

All the sectoral indices were trading with cuts. The Nifty Metal index fell 0.6 per cent, followed by the Nifty IT index (down 0.6 per cent). In the previous session on Wednesday, the S&P BSE Sensex, which declined to a low of 60,569 during intraday trade, firmed up to close 390 points higher at 61,046. On the other hand, the NSE Nifty50 settled at 18,165, up 112 points.

Meanwhile, the rupee depreciated 15 paise to 81.45 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.45 against the dollar, registering a decline of 15 paise over its last close.

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In initial trade the rupee also touched an early high of 81.27 against the US dollar. In the previous session on Wednesday, the rupee settled at 81.30 against the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.09 per cent to 102.26.

Brent crude futures, the global oil benchmark, declined 1.18 per cent to $83.98 per barrel. Forex traders expect the rupee to trade with a slight negative bias on global economic concerns.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 319.23 crore, according to exchange data.

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