Stock markets update: Equity benchmark indices opened in negative on Tuesday, on the second day running in 2024, amid the recent sharp rally and lack of trends from global markets. In the early trade, the 30-share BSE Sensex declined 202.76 points to 72,069.18. Meanwhile, the Nifty also fell by 42.9 points to 21,699 points.
Among the Sensex firms, UltraTech Cement, Mahindra & Mahindra, Infosys, Asian Paints, HCL Technologies and Larsen & Toubro were the major laggards. Sun Pharma, Bharti Airtel, Reliance Industries, Bajaj Finserv and Power Grid were among the winners.
Asian and US markets
In Asian markets, Seoul, Shanghai and Hong Kong were trading lower. Asian, European and US markets were closed on Monday for the New Year. Global oil benchmark Brent crude jumped 1.65 per cent to USD 78.31 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 855.80 crore on Monday, according to exchange data. The BSE gauge eked out a modest gain of 31.68 points or 0.04 per cent to settle at 72,271.94 after a muted beginning on Monday.
Rupee falls against dollar
Meanwhile, the rupee depreciated 11 paise to 83.32 against the US dollar in the morning session on Tuesday, tracking a negative trend in domestic equities and the strength of the American currency in the overseas market. Forex traders said foreign fund outflows and dollar demand from importers weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.28 against the dollar, then fell to 83.32, registering a fall of 11 paise over its previous close.
(With PTI inputs)
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