• Source:JND
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Stock Market:  Equity benchmark indices Sensex and Nifty fell 1% each on Tuesday due to broad-based selling pressure amid continued foreign fund outflows and sluggish global trends. The BSE benchmark Sensex closed 820.97 points, or 1.03%, lower at 78,675.18. During the day, it plunged 948.31 points, or 1.19%, to 78,547.84.

The NSE Nifty fell 257.85 points, or 1.07%, to 23,883.45, marking its third consecutive day of decline. Asian Paints, NTPC, Tata Motors, State Bank of India, HDFC Bank, JSW Steel, Maruti and Power Grid were the major laggards in the 30-share Sensex pack.

On the other hand, Infosys, Sun Pharma, and ICICI Bank were among the gainers. Foreign institutional investors (FIIs) sold shares worth Rs 2,306.88 crore on Monday, while domestic institutional investors (DIIs) pumped in Rs 2,026.63 crore in shares, according to exchange data. Among Asian markets, Seoul, Tokyo, Shanghai and Hong Kong closed in the negative territory.

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European equity markets were also trading in the red. Wall Street closed with gains on Monday. Global oil benchmark Brent crude rose 0.56% to $72.23 a barrel. After swinging between high and low, the BSE benchmark closed with a marginal gain of 9.83 points, or 0.01%, at 79,496.15 on Monday. The Nifty closed marginally lower by 6.90 points, or 0.03%, at 24,141.30.

The rupees dropped by 1 paisa to a new all-time low of 84.39 (temporary) against the US dollar on Tuesday as a stronger greenback weighed on investor sentiment against continued foreign capital outflows and a large cross overseas.

Forex traders stated that the rupee is anticipated to trade between 83.80 and 84.50 in the medium term, with the Reserve Bank of India (RBI) likely to limit any major decrease with the assistance of its strong forex reserves.

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(With Agencies Inputs)