stock market crash: Sensex and Nifty fell heavily in early trade on Friday due to heavy selling in metal stocks, weak global factors and withdrawal of foreign funds. During this period, the 30-share BSE Sensex fell by 928 points to 80,326. NSE Nifty was trading 290 points down at 24,258.
There were fluctuations in the shares of these major companies: Among Sensex stocks, Tata Steel, JSW Steel, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Larsen & Toubro, State Bank of India and Reliance Industries fell the most. On the other hand, shares of Bharti Airtel, Nestle, Adani Ports and Hindustan Unilever registered gains.ALSO READ: Wipro’s shares become ex-dated, what will be the impact on investors?
FIIs sold on Thursday: According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 3,560.01 crore on Thursday. Global oil benchmark Brent crude fell 0.04 percent to $73.38 a barrel.
Rupee recovered from all-time low: The rupee managed to recover from its all-time low in early trade on Friday due to favorable inflation data. During this period, the local currency increased by 5 paise to reach the level of 84.83 against the US dollar.
Forex traders, however, said a strengthening dollar and fall in domestic equity markets amid foreign fund outflows limited the rupee’s gains. The rupee opened at 84.85 against the dollar in the interbank foreign exchange market and touched 84.83 in early trade, showing an increase of 5 paise over the previous closing price. (Language)
Edited by: Ravindra Gupta
