The third consecutive outcry in the stock market, the Sensex fell 1,020 points and closed close to 58 thousand
Highlights
- Sensex closed down at 58,098.92 points
- Nifty closed down at 17,327.35 points
- Rupee falls 19 paise to close at Rs 80.98 per dollar
global markets The domestic stock market recorded a third consecutive heavy fall on Friday amid a soft trend and the BSE Sensex closed more than 1,000 points lower. The 30-share Sensex closed at 58,098.92 points, down 1,020.80 points, or 1.73 per cent. At one point during trading, it had fallen to 1,137.77 points. Similarly, the Nifty of the National Stock Exchange also closed at 17,327.35, down 302.45 points, or 1.72 per cent.
POWERGRID’s stock fell the most
Among the Sensex stocks, POWERGRID was the biggest loser of 7.93 per cent. Mahindra & Mahindra, State Bank of India, Bajaj Finserv, Bajaj Finance, NTPC, HDFC and IndusInd Bank were also major losers. On the other hand, only Sun Pharma, Tata Steel and ITC closed with gains. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng ended in losses. European stock markets were in a downtrend in early trading. The US market declined on Thursday. Meanwhile, international oil benchmark Brent crude fell 1.87 per cent to $88.77 a barrel. Foreign institutional investors sold shares worth a net Rs 2,509.55 crore on Thursday, according to BSE data.
slipped to a record low of 80.98 per dollar
The rupee on Friday fell 19 paise to close at an all-time low of Rs 80.98 per dollar as the US dollar continued to strengthen in overseas markets and risk aversion among investors dominated. In the inter-bank foreign exchange market, the Indian rupee also crossed the level of Rs 81 for the first time against the dollar. At one time the rupee had fallen to the level of 81.23. However, later the position of the rupee improved slightly and at the end of trading it closed at Rs 80.98 per dollar. Compared to the previous trading day, the rupee recorded a major fall of 19 paise. On Thursday, the rupee was at Rs 80.79 per dollar with a dive of 83 paise in a single day. This was the third day in a row that the rupee saw a fall against the US dollar. In these three days, the value of rupee has fallen to 124 paise per dollar. Forex traders said fears of worsening situation in Ukraine and hike in interest rates in US and UK put pressure on the rupee. Apart from this, the strengthening of the US currency position in the foreign markets and a declining trend in the stock markets at the domestic level has also put the rupee under pressure. The dollar index, which measures the strength of the dollar against the world’s six major currencies, climbed 0.72 per cent to 112.15.
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