The domestic stock market is witnessing a decline on Monday, the first trading day of the week. Around 9.28 am, the domestic stock market was seen trading at the level of 85,580.84 with BSE Sensex falling by 131.53 points. Similarly, NSE Nifty was also seen trading at the level of 26,144 with a fall of 42.45 points at the same time. Hindalco, Tech Mahindra, TCS, Tata Steel and Max Healthcare were seen as big gainers in Nifty in early trade, while Bajaj Finance, Asian Paints, Cipla, NTPC and Maruti Suzuki declined.
Biggest decline in realty index
If we look at the sectoral level, except the IT sector, all the other major indices are trading in the red. The biggest decline is visible in the realty index, which is down about 0.5%. BSE Midcap and Smallcap indices are also trading marginally lower, reflecting broader market weakness. Around the world, investors are cautious ahead of the Fed’s policy decision later this week, as the central bank of the world’s largest economy is expected to cut rates.
Performance of BSE stocks during the opening session on Monday.
Market expert opinion
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said the large fiscal and monetary stimulus given to the economy this year has led to a sharp improvement in GDP growth, as evidenced by the 8.2 per cent Q2 GDP growth, and the RBI raising FY 26 GDP growth to 7.3 per cent is a good sign for the market.
Rupee fell 16 paise to 90.11
The rupee fell 16 paise to 90.11 against the US dollar in early trade on Monday. It came under pressure due to rising crude oil prices and continuous outflow of foreign funds. According to PTI news, forex traders said strong demand for the dollar from corporates, importers and foreign portfolio investors put pressure on the rupee. At the Interbank Foreign Exchange, the rupee opened at 90.07 against the US dollar and then fell to 90.11, 16 paise lower than its previous close. On Friday, the rupee closed at 89.95 against the US dollar after the Reserve Bank of India cut the key policy interest rate for the first time in six months.
Latest Business News