The domestic rupee appreciated by 8 paise to close at 83.22 (provisional) against the US dollar on Thursday, following a closing rate of 83.30 against the greenback a day earlier.
The primary factor contributing to the dip was the significant fall in information technology (IT) stocks, reflecting a broader slide in global markets.
The 30-share BSE Sensex fell 170.12 points or 0.23 per cent to settle at 72,240.26 after a weak beginning to the trade. Meanwhile, the rupee paired all its early gains to end on a flat note at 83.20 against the US dollar.
The subsequent market movements will be closely watched for insights into investor sentiment and potential shifts in the financial landscape.
In Asian markets, Seoul, Tokyo, and Hong Kong experienced positive trends, while Shanghai traded lower. Meanwhile, the US markets closed in the green on Tuesday.
In the morning session on Tuesday, benchmark stock market indices in India opened marginally higher as the global rally showed signs of cooling down following a period of robust gains.
The 30-share BSE Sensex ended higher by 929.60 points, while the Nifty gained 256.35 points.
These positive movements were attributed to gains observed in banking, IT, and metal shares, contributing to the overall buoyancy in the stock market.
Business news: Among sectoral indices, IT, teck and bankex rose by 1.08 per cent, 0.97 per cent and 0.89 per cent, respectively. On the other hand, utilities lost by 1.72 per cent and power slid 1.58 per cent. Besides, FMCG fell 1.13 per cent, telecommunication declined 0.73 per cent.
The US official underscored the Hindenburg claims were not "interlinked" with the Adani Ports & Special Economic Zone Limited-- the subsidiary spearheading the Sri Lankan project.
This shift reflects the dynamic nature of the financial markets, responding to various factors influencing investor sentiment.
The Sensex, representing the Bombay Stock Exchange, demonstrated its bullish momentum by achieving an impressive rise of 303.25 points. This surge propelled the Sensex to attain a fresh peak, reaching an impressive level of 69,599.39.
According to current trends, the Bharatiya Janata Party (BJP) is leading in three states including Madhya Pradesh, Rajasthan and Chhattisgarh impact of which is likely to impact the stock market opening on Monday.
In the early trade, the 30-share BSE Sensex climbed 308.52 points to 67,296.96. Meanwhile, the Nifty was also up by 96.1 points to 20,229.25 points, reaching an all-time fresh high.
The closure marks a moment of respect and acknowledgement for the Sikh community, commemorating the birth anniversary of Guru Nanak Dev Ji, the founder of Sikhism.
In the early trade, the 30-share BSE Sensex climbed 268.31 points to 65,923.46. Meanwhile, the Nifty declined was also up by 85.1 points to 19,779.10 points.
In the early trade, the 30-share BSE Sensex fell 97.18 points to 65,697.55 in early trade. The Nifty declined 15.3 points to 19,716.50 points.
Broader markets also advanced with the BSE MidCap gaining 227.43 points or 0.70 percent and BSE SmallCap by 452.11 points or 1.18 percent.
Promoters have also announced their intention to increase their stake in the company by 2-9% in the next 4-6 quarters. This is a positive sign for the company, as it shows that the promoters are confident in the company's future growth prospects.
Global oil benchmark Brent crude showed resilience, climbing 0.99% to reach USD 80.33 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 84.55 crore on Wednesday, according to exchange data.
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