Stock market: The equity benchmark indices opened on a negative note amid mixed global cues on Wednesday. The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15. Among the Sensex firms, Bajaj Finance, Tech Mahindra, Tata Steel, HDFC Bank, Titan and ICICI Bank were the major laggards. Sun Pharma, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the gainers.
In Asian markets, Seoul and Tokyo were trading in negative territory while Shanghai and Hong Kong were quoted in the green. The US markets ended lower on Tuesday. Global oil benchmark Brent crude climbed 0.99 per cent to USD 94.89 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 693.47 crore on Tuesday, according to exchange data. The BSE benchmark fell 78.22 points or 0.12 per cent to settle at 65,945.47 on Tuesday. The broader Nifty dipped 9.85 points or 0.05 per cent to end at 19,664.70.
Rupee rises against dollar
Meanwhile, the rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency. Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said.
At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close. The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise.
(With inputs from PTI)
ALSO READ: India's start-up economy: How employer branding, hybrid work model impetus can help thrive in funding winter
Latest Business News
