stock market
The stock market has had a weak start for the second consecutive day on Tuesday. BSE Sensex fell 273.82 points and opened at 81,474.75 points. At the same time, NSE Nifty is also trading at 24,593.65 points with a fall of 74.60 points. The effect of rupee reaching record low against dollar and selling in global markets is being seen on the Indian market. If we look at the falling stocks, heavyweight stocks like SUNPHARMA, HINDUNILVR, TITAN, ADANIPORTS, HDFCBANK are included. At the same time, slight growth is being seen in TATAMOTORS, SUNPHARMA, TECHM, TCS and ICICIBANK. Investors are adopting a cautious approach before the last month of the year and the announcement by the US Federal Reserve.
Let us tell you that amid the weak trend globally, there was a decline in the local stock market on Monday and BSE Sensex closed down by 384 points. Investor sentiment was hit by selling pressure in metal and IT stocks amid rupee depreciation and weak economic data from China. The 30-share BSE Sensex closed at 81,748.57 points, down 384.55 points. National Stock Exchange’s Nifty also fell by 100.05 points and closed at 24,668.25 points. According to market experts, the US central bank Federal Reserve will decide on the policy rate this week. In view of this, investors adopted a cautious approach due to which the global market remains soft.
Rupee hits record low of 84.92 per dollar
The rupee fell by one paise to its all-time low of 84.92 per dollar in early trade on Tuesday amid foreign capital outflows and softening of domestic stock markets. Forex traders said the rupee is likely to remain under pressure due to demand for dollars from importers and foreign banks. The rupee opened at 84.89 against the dollar in the interbank foreign exchange market. It fell at 84.92 per dollar after early deals, a decline of one paise over its previous close. The rupee had fallen 11 paise to close at its all-time low of 84.91 per dollar on Monday.
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