A big fall is being seen in the stock market on Friday. After fluctuations in the initial session, the market slipped sharply. Around 11:53 am, the Sensex was seen at the level of 83,746.15 with a huge fall of 434.81 points. At the same time, NSE’s Nifty also fell by 131.1 points and was at the level of 25,745.75. Earlier, at 9.46 am, the Sensex fell by 52.48 points and was seen trading at the level of 84128.48. At the same time, Nifty fell by 21.40 points and was at the level of 25,855.45. Eternal, ONGC, Asian Paints, Bharat Electronics and HCL Technologies were among the top gainers on Nifty today. At the same time, selling was seen in Adani Enterprises, ICICI Bank, Adani Ports, NTPC and Tata Motors Passenger Vehicles shares and they were the top losers.
Here, in the 30-share Sensex today, ICICI Bank, Tata Motors Passenger Vehicles, NTPC, Adani Ports, Sun Pharma and Trent were among the biggest falling stocks. On the other hand, shares of Eternal, HCL Tech, Bharat Electronics and Asian Paints showed strength and were the major gainers of Sensex.
Performance of companies included in NSE in the opening session on Friday.
Realty, power and healthcare stocks fall
BSE midcap and smallcap indices were trading with a fall of 0.5% to 1%. On sectoral basis, realty, power, media and healthcare stocks declined by 0.5% to 1%. Whereas Telecom, PSU Bank and Oil & Gas sectors recorded a gain of about 0.5%.
Performance of companies included in Sensex in the opening session on Friday.
Rupee falls 7 paise against US dollar
The rupee fell 7 paise to 89.97 against the US dollar in early trade on Friday. The main reasons for this were continuous FII outflow, rise in global crude oil prices and weak investment sentiment in domestic markets. According to Forex market experts, due to the fear of additional tariffs being imposed by the US, foreign investors sold the Indian equity markets, which further increased the pressure on the rupee.
At the Interbank Foreign Exchange, the rupee opened at 88.88, but soon weakness increased and it slipped to 89.97, 7 paise lower than its previous close. It is noteworthy that a fall in the rupee was recorded on Thursday also. The rupee fell 3 paise to close at 89.90 amid continuous foreign capital withdrawal and strengthening of the dollar.
Huge fluctuations in rupee market
Anil Kumar Bhansali, treasury head and executive director, Finrex Treasury Advisors LLP, said the rupee market witnessed huge volatility on Thursday. According to him, RBI strengthened the rupee by selling dollars at 89.99 level and took it to 89.73, but after this FPI started buying dollars. Bhansali further said that at present RBI is trying to stop the rise of dollar, due to which large oversold positions are being created for it. The effect of this could be that demand for the dollar remains at lower levels, as the RBI will try to square its positions going forward.
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