The stock market fell for the second day in a row, the Sensex slipped below 60,000, falling 413 points
Highlights
- BSE Sensex closed at 59,934.01 points
- National Stock Exchange’s Nifty closed at 17,877.40 points
- Rupee down 21 paise to end at 79.73 per dollar
Share Market On Thursday, the trend of decline continued for the second consecutive day and the BSE 30-share Sensex fell below the 60,000 mark, falling 413 points. Markets fell on selling in information technology and pharmaceutical companies amid fears of a slowdown in the global economy. The 30-share BSE Sensex opened with strength in early trade and went up to 60,676.12 points. However, after losing the initial lead, it fell 412.96 points or 0.68 per cent to end at 59,934.01. Similarly, the Nifty of the National Stock Exchange also closed at 17,877.40, down 126.35 points, or 0.7 percent.
Selling the shares of these companies
Tech Mahindra, Infosys, Tata Steel, Bajaj Finserv, Axis Bank and IndusInd Bank were the main losers in the Sensex stocks. On the other hand, Maruti, Power Grid, NTPC, HDFC, Bharti Airtel, Larsen & Toubro and State Bank of India were among the gainers. In other Asian markets, Japan’s Nikkei, Hong Kong’s Hang Seng closed with gains, while China’s Shanghai Composite and South Korea’s Kospi ended in losses. At the same time, the US stock markets closed strongly on Wednesday. Vinod Nair, Head of Research, Geojit Financial Services, said, “Domestic markets lost their early gains, beating the positive trend in global markets on selling in IT and pharma stocks. While midcap and smallcap outperformed.” Meanwhile, international benchmark Brent crude fell 0.04 per cent to $94.06 per barrel. Foreign institutional investors sold shares worth Rs 1,397.51 crore on Wednesday, according to stock market data.
Rupee down 21 paise at 79.73 per dollar
The rupee on Thursday fell 21 paise to 79.73 (provisional) against the dollar at the interbank foreign exchange market due to a weak trend in the domestic equity market and a strengthening dollar. The rupee opened at 79.53 against the dollar in the interbank foreign exchange market. After revolving in the range of 79.44 and 79.73 in the day’s trade, it finally ended 21 paise down at 79.73 against the dollar. The rupee had closed at 79.52 per dollar in the previous trading session. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.09 per cent to 109.56. Global oil benchmark Brent crude futures were down 0.96 per cent at $93.20 per barrel. The 30-share Sensex of BSE closed at 59,934.01, down 412.96 points.
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