Sensex falls over 100 points, Nifty below 16,250; Rupee at new low

Sensex today: After a gloomy mood across Asia and a rise in oil prices, the Indian stock markets started in agony on Tuesday morning. At 09:16 IST, the Sensex was down 180.14 points or 0.33 per cent at 54341.01 and the Nifty was down 51.60 points or 0.32 per cent at 16226.90.

top gainers and losers

Tata Steel, Sun Pharma, Bharti Airtel, NTPC, Reliance, UltraTech Cement, PowerGrid and Dr Reddy’s were the gainers in the Sensex. ONGC, Coal India were additional Nifty winners.

On the downside, HCL Tech, Asian Paints, Tech M, TCS, Infi, Bajaj Finserv, HUL, Nestle, Tata Consumer, HDFC Life and Britannia fell up to 1.5 per cent in both the indices.

Meanwhile, the broader markets opened in the green. BSE Midcap and Smallcap indices rose up to 0.14 per cent.

Sectorally, Nifty Auto, Metal and Pharma indices outperformed the weaker markets, rising up to 0.6 per cent. Financial, FMCG and IT remained in deficit.

Among stocks, Surya Roshni rose over 4 per cent on winning orders worth Rs 91 crore.

Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “FPI sales, which have been a major pressure on the market since October 21, are showing a slightly different trend. Even though FPIs remained net sellers, they bought for 4 days this month. This means that some FPIs are seeing value in certain segments. The sharp fall in IT stocks has made their valuations attractive. High-quality financials, whose values ​​were impacted by continued FPI sales, are making a comeback as their fundamentals improve.

“It is important to note that CPI inflation in India, though high, is trending down: from 7.79 per cent in April to 7.04 per cent in May to 7.01 per cent in June. This is in stark contrast to the US and Europe where inflation continues to rise. With the softening of commodity prices, this trend may continue. Commodity price moderation is providing flexibility to commodity users like auto, FMCG and consumer durables. Capital goods segment is being helped by increase in capex. These are important indicators for investors. The near term is likely to see stock specific action in response to Q1 results,” he said.

Rupee at record low

The rupee touched the level of 80 per dollar for the first time on Tuesday. The local currency opened at 79.98 against the US dollar on July 19, up from its previous close of 79.97. Then it immediately dropped to 80.

global signal

Asian stocks fell on Tuesday after an overnight drop on Wall Street and the dollar dropped from last week’s peak, but traders’ main focus was on central bank meetings and the early stages of the US earnings season.

Tokyo shares opened higher on Tuesday after a three-day weekend, investors encouraged by Wall Street rallies last week, despite the US falling the day before. The benchmark Nikkei 225 index was up 0.73 per cent, or 195.76 points, at 26,984.23 in early trade, while the broader Topix index was up 0.66 per cent, or 12.52 points, at 1,905.02.

Wall Street fell lower on Monday when bank shares erased earlier gains and Apple shares fell on a report that said the company plans to slow hiring and spending next year. The Dow Jones Industrial Average fell 215.65 points, or 0.69%, to 31,072.61, the S&P 500 fell 32.31 points, or 0.84%, to 3,830.85, and the Nasdaq Composite fell 92.37 points, or 0.81%, to 11,360.05.

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