Stock Markets: Sensex, Nifty open in red in early trade; Rupee falls against dollar
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Among the Sensex firms, Larsen & Toubro, Axis Bank, ITC, Infosys, Tata Consultancy Services, Reliance Industries, Hindustan Unilever and IndusInd Bank were the major laggards. Bajaj Finance, Bajaj Finserv, Maruti and Asian Paints were the gainers.
Asian and US markets
In Asian markets, Seoul, Shanghai and Hong Kong were quoting in the negative territory while Tokyo traded in the green. The US markets ended lower on Friday.
Global oil benchmark Brent crude climbed 0.21 per cent to USD 93.47 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,326.74 crore on Friday, according to exchange data. Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September.
Rupee falls against dollar
The rupee depreciated by 16 paise to 83.10 against the US dollar in early trade on Monday, taking cues from subdued equity market sentiment and a firm American currency against major rivals overseas.
At the interbank foreign exchange, the domestic unit opened weak at 83.04 and hit the lowest level of 83.10 against the greenback, registering a fall of 16 paise from its previous close. On Friday, the rupee gained 19 paise to close at 82.94 against the dollar.
Analysts attributed the gain in rupee to JP Morgan’s announcement that it will include Indian government securities in its global bond index starting June 2024, a move which is expected to bring in USD 25-30 billion of inflows into the Indian debt market.
(With PTI inputs)
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