Domestic stock markets closed with a big fall on Thursday. BSE Sensex fell 559 points or 0.66% to 83,674.92, while Nifty 50 also fell 147 points or 0.57% to 25,807.20. Pressure was visible in the big market also. At the close of trading, the BSE 150 Midcap index fell 0.46%, while the BSE 250 Smallcap index declined 0.86%.
According to reports, market sentiment weakened due to heavy selling in IT stocks during today’s trading. This happened due to concerns about the impact of growth in AI on this sector. The rising US dollar and bond yields also added to the overall negative sentiment.
A lot of volatility was seen in these stocks
Tech Mahindra, Infosys and Wipro were among the biggest fallers in the Nifty 50 pack, falling up to 5% each. Meanwhile, Bajaj Finance and State Bank of India gained up to 2% each. The market sentiment was negative, with about 1,468 stocks rising, 2,011 closing down, and 175 remaining unchanged.
Investor sentiment got a boost on Thursday due to foreign fund inflows, due to which the rupee appreciated by 17 paise to close at 90.61 (provisional) against the US dollar. Forex traders said the inflow, though not huge, provided psychological support. Apart from this, he said that RBI is quietly ensuring that liquidity remains abundant in the banking system. At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, and touched an intraday high of 90.40 and low of 90.65 during the day. At the close of trading on Thursday, the domestic unit was trading at 90.61 (provisional), up 17 paise from its previous close. On Wednesday, the rupee had fallen 22 paise to close at 90.78 against the US dollar.