- By Aditya Pratap Singh
- Thu, 03 Oct 2024 09:31 AM (IST)
- Source:JND
Stock Market: The domestic indices extended the downward trend for the second consecutive session as it opened with a heavy downfall on Thursday. NSE's Nifty50 slipped about 239 points or 0.93 per cent to trade below the 25,600 level, while BSE Sensex fell as much as 900 points to trade below the 83,500 level in early trade.
The majority of stocks in the Sensex basket were trading in the red. Mahindra and Mahindra Asian Paint extended over a 2% loss. At around 9:48 am, Tech Mahindra, Hindustan Unilever, ITC, Bajaj Finance, Adani Ports, and Bharti Airtel were the top losers, while JSW Steel, Tata Steel, NTPC and Infosys were trading in green.
Hong Kong was trading lower in Asian markets, while Tokyo was in positive territory. Markets in mainland China will be closed for the rest of the week due to a holiday.
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U.S. markets ended slightly higher on Wednesday. Foreign institutional investors sold equities worth Rs 5,579.35 crore on Tuesday, according to exchange data. Brent crude, the global benchmark, rose 1.15 per cent to $74.75 a barrel.
The rupee depreciated by 11 paise to 83.93 against the US dollar on Thursday on account of higher crude oil prices and negative sentiment in domestic equity markets amid concerns over rising tensions in the Middle East. The steady outflow of foreign funds from the capital markets and a strengthening US currency also weighed on the Indian currency, forex dealers said.
In the interbank forex market, the local unit opened at 83.91 and touched 83.93 against the greenback, losing more ground to trade 11 paise lower than the previous session's closing level.
The rupee depreciated by 3 paise to 83.82 against the US dollar on Tuesday. Foreign exchange markets were closed on Wednesday for the Mahatma Gandhi Jayanti.
Equity markets were closed on Wednesday for Mahatma Gandhi Jayanti. The benchmark BSE fell 33.49 points, or 0.04 per cent, to 84,266.29 on Tuesday. The Nifty ended 13.95 points or 0.05 per cent lower at 25,796.90.