• Source:JND
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Stock market closing:  After a sharp rise till mid-day trade benchmark indices ended in red for the fourth consecutive day. BSE's Senex closed at 72,488.99, down by 0.62 percent or 454.69 points. While NSE's Nifty 50 ended at 21,995.85, down by 152.05 points or 0.69 percent. 

Earlier, the stock market started the trading day with significant gains as the Sensex and Nifty indices opened with gains after the Ram Navami holiday. Sensex opened 291.27 points higher at 73,234.95, while Nifty opened 102.75 points higher at 22,250.65.

Nestle was the biggest loser on the Sensex, falling over 3 percent amid reports that the global FMCG major sold infant milk products with higher sugar content in less developed countries. Tata Motors, ITC, Tech Mahindra, Titan Company, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, ICICI Bank, and HDFC Bank were the other laggards. **Grid, Infosys, Bharti Airtel, Power, and Larsen & Toubro were among the gainers.

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Rupee closes higher

The rupee rebounded from its all-time low to close 6 paise higher at 83.55 (provisional) against the US dollar as the US currency and Brent crude oil prices retreated from their highs. In the interbank foreign exchange market, the local unit opened at 83.51 against the dollar. The unit touched an intraday high of 83.49.

The domestic unit finally closed at 83.55 (provisional) against the dollar, 6 paise higher than its previous close. On Tuesday, the rupee fell 17 paise to hit a low of 83.61 against the US dollar for the second time in four weeks. The forex and forex markets were closed on Wednesday on the occasion of 'Ram Navami'.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.07 percent lower at 105.87. Global benchmark Brent crude futures fell 0.93 percent to $86.48 a barrel. According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday as they sold shares worth Rs 4,468.09 crore.

(With PTI Inputs)

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