- By Aditya Pratap Singh
- Tue, 07 May 2024 04:01 PM (IST)
- Source:PTI
Stock Market Closing: Benchmark equity indices declined on Tuesday. The NSE Nifty 50 closed the day at 22,302.50, down 140.20 points or 0.62%, while the BSE Sensex fell 384 points or 0.52% at 73,511.85. Nifty Midcap 100 saw deep cuts and closed in the red at 49,674.45, down 987.75 points or 1.95%.
Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were the major laggards on the Sensex.
On the other hand, Hindustan Unilever rose more than 5 percent. Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services, and Kotak Mahindra Bank were the other gainers. Asian markets were mixed with Seoul, Tokyo, and Shanghai ending higher, while Hong Kong closed lower. European markets were trading in the green.
Global oil benchmark Brent crude rose 0.23 percent to USD 83.51 per barrel. According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 2,168.75 crore on Monday. On Monday, the BSE benchmark had closed 17.39 points or 0.02 percent higher at 73,895.54. The NSE Nifty had declined 33.15 points or 0.15 percent to 22,442.70.
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Rupee closes lower
The rupee strengthened marginally against the US dollar on Tuesday to close at 83.51, helped by a negative trend in domestic equities and a stronger dollar. Forex traders said the massive withdrawal of foreign funds from the global market weighed on investor sentiment.
At the interbank foreign exchange market, the local unit opened at 83.48 against the greenback. The unit touched an intra-day high of 83.47 and a low of 83.52 against the greenback. The domestic unit finally ended at 83.51 (provisional) against the dollar, up 1 paisa from its previous close.
(With PTI Input)