Image Source : PTI/REPRESENTATIVE Stock markets replace — November 1
Equity benchmark indices declined in early commerce on Wednesday resulting from weak spot in banking, monetary and steel shares amid unabated international fund outflows. Investors most well-liked to stay on the sidelines forward of the US Federal Reserve’s rate of interest resolution, merchants mentioned.
The 30-share BSE Sensex declined 193.99 factors to 63,680.94. The Nifty slipped 47 factors to 19,032.60.
Among the Sensex corporations, JSW Steel, Bharti Airtel, Kotak Mahindra Bank, HDFC Bank, Asian Paints, Tata Steel, Power Grid and Nestle have been the most important laggards. Mahindra & Mahindra, Wipro, HCL Technologies, Bajaj Finserv and Tata Motors have been the most important gainers.
Asian and US markets
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong have been buying and selling within the inexperienced. The US markets led to constructive territory on Tuesday.
Global oil benchmark Brent crude dipped 0.05 per cent to USD 87.41 a barrel. Foreign Institutional Investors (FIIs) offloaded equities price Rs 696.02 crore on Tuesday, in accordance with trade knowledge.
“It is important to understand that equity markets globally are being impacted more by the spike in US bond yields rather than the Israel-Hamas conflict. The US 10-year bond yield above 4.9 per cent will continue to be a major headwind for stock markets, particularly for those in emerging markets. Sustained selling by FIIs is likely to continue weighing on markets,” mentioned VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Rupee falls towards greenback
The rupee depreciated 3 paise to 83.27 towards the US greenback within the morning session on Wednesday, monitoring a robust American foreign money abroad and muted pattern in home equities. Persistent international fund outflows additionally weighed on the native unit, foreign exchange merchants mentioned.
At the interbank international trade, the rupee opened at 83.26 towards the greenback. It touched a low of 83.27 in preliminary offers, registering a fall of three paise over its earlier shut.
(With inputs from PTI)
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