Share Market: Sensex Recovers After 5-Day Fall, Nifty Settles Flat Under 22,550. Rupee Crashes To 87.23
On the Sensex, M&M, Airtel, Zomato, and Nestle emerged among the gainers. On the flip side, the laggards in the day included Sun Pharma, PowerGrid, TCS, Tech M, and Asian Paints, among others.
The Indian stock market ended trading on Tuesday on a mixed note. The equity benchmark index, Sensex, climbed close to 150 points and settled the session just above 74,600. This marked an end to the index's five-day fall. Meanwhile, the NSE Nifty50 ended the session nearly flat at a little under 22,550, inching lower by 6 points.
On the 30-share Sensex, M&M, Bharti Airtel, Bajaj Finance, Zomato, and Nestle emerged among the gainers. On the flip side, the laggards in the day included Sun Pharma, PowerGrid, TCS, Tech Mahindra, and Asian Paints, among others.
In the broader markets, the indices completely bled. The Nifty Microcap 250 index dominated in red and tanked 0.77 per cent. Sectorally, the Metal and Realty indices reported the largest losses in the session and plunged 1.54 per cent and 1.31 per cent respectively. On the other hand, the Media index clocked gains of 0.84 per cent.
Rupee Vs Dollar
The Indian rupee crashed by 51 paise to close at 87.23 (provisional) against the US dollar on Tuesday, due to the month-end demand for dollar by importers amid uncertainty triggered by US trade tariffs. Forex traders noted that the American currency remained elevated in the global markets and consistent FII outflows added to the fall of the domestic rupee. In the last session on Monday, the Indian currency settled the session at 86.72 against the greenback.
FII Flows, Global Markets, And Oil Prices
The foreign institutional investors (FIIs) dumped Indian equities worth Rs 6,286.70 crore on Monday, while DIIs bought equities worth Rs 5,185.65 crore, according to exchange data. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory, while markets in Europe were trading mostly higher. The US markets ended mostly in the negative territory on Monday. The global oil benchmark, Brent crude, slipped 0.13 per cent to touch $74.68 per barrel.
Vinod Nair, Head of Research, Geojit Financial Services, explained that the domestic market remained range-bound in expectation of key economic data scheduled to be released this week. "Concerns over high valuations led to continued declines in small and midcap stocks. Market sentiment is expected to remain cautious in the near term due to persistent pressure on the INR, ongoing FII outflows, and tariff-related developments," he added.
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