Share Market : Domestic stock markets fell in early trade on Wednesday amid retail inflation hitting a 14-month high of 6.21 per cent in October and continued foreign capital outflows. Forex traders said that weak trend in global markets also affected the market. BSE Sensex fell by 239.69 points to 78,435.49 points in early trade. NSE Nifty slipped 103.15 points to 23,780.30.
There were fluctuations in the shares of these major companies: Among the 30 Sensex listed companies, shares of Mahindra & Mahindra, Maruti, Tata Steel, Sun Pharma, Nestle and ITC were the biggest losers. Whereas shares of Titan, HDFC Bank, Bharti Airtel and NTPC registered gains. Inflation based on Consumer Price Index increased to 6.21 percent in October, from 5.49 percent in September. Retail inflation has increased mainly due to increase in prices of food items.ALSO READ: FPI withdrew Rs 20,000 crore in 5 sessions, how will the next week be for the stock market?
In Asian and American markets: In Asian markets, Japan’s Nikkei, China’s Shanghai Composite, South Korea’s Kospi and Hong Kong’s Hang Seng were in loss. US markets closed with a negative trend on Tuesday.
Brent crude futures at US $ 72.14 per barrel: International standard Brent crude stood at $ 72.14 per barrel with a gain of 0.35 percent. According to stock market data, foreign institutional investors (FIIs) were sellers on Tuesday and sold shares worth a net Rs 3,024.31 crore.
Rupee fell by 1 paise at 84.40 per dollar in early trade: The rupee depreciated by one paise to 84.40 per dollar in early trade on Wednesday amid sustained foreign capital outflows and soft trend in domestic equity markets.ALSO READ: Share bazaar: The ongoing rise in the stock market for 2 days stopped, Sensex fell by 836 and Nifty by 285 points.
The rupee opened at 84.40 per dollar in the interbank foreign exchange market, showing a decline of 1 paise over its previous closing price. The rupee had closed at its all-time low of 84.39 against the US dollar on Tuesday. Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies, fell by 0.04 percent to 105.98. (Language)
Edited by: Ravindra Gupta
