Stock market fell for three days, Sensex rose 300 points, Nifty crossed 17,600 Stock market fell for three days Sensex rose 300 points Nifty crossed 17600

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Stock market fell for three days, Sensex rose 300 points, Nifty crossed 17,600 Stock market fell for three days Sensex rose 300 points Nifty crossed 17600


Photo:PTI stock market

Highlights

  • BSE Sensex closed at 59,141.23 points
  • NSE Nifty closed at 17,622.25 points
  • Foreign institutional investors sold shares worth Rs 3,260.05 crore

Stock Market: The decline in the domestic stock market for the last three trading sessions ended on Monday due to buying in banking stocks and the BSE Sensex closed higher by more than 300 points. The 30-point BSE Sensex recovered from the initial setbacks, rising 300.44 points, or 0.51 per cent, to end at 59,141.23. At one point during trading, it had climbed up to 436.76 points. Similarly, the Nifty of the National Stock Exchange also closed at 17,622.25 with a gain of 91.40 points, or 0.52 percent.

The rise in the shares of these companies

Mahindra & Mahindra, Bajaj Finance, State Bank of India, Hindustan Unilever, Nestle and Bajaj Finserv were the major gainers in the Sensex pack. On the other hand, shares of Tata Steel, ICICI Bank, Power Grid and ICICI Bank declined. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai Composite ended in losses. At the same time, European markets were also trading in decline in the afternoon, while the US stock markets closed in losses on Friday. Meanwhile, international benchmark Brent crude fell 1.37 per cent to $90.10 a barrel. Foreign institutional investors were net sellers on Friday, according to stock market data. He sold shares worth Rs 3,260.05 crore during this period.

Rupee falls by two paise to close at 79.80 per dollar

The rupee on Monday declined by two paise to close at 79.80 (provisional) against the US dollar. With the dollar strengthening in global markets, the rupee fell, losing early gains. The rupee opened at 79.70 in the interbank foreign exchange market. During trading, it went up to 79.59 in the high and came down to 79.80. Finally it closed at 79.80 with a fall of two paise. On Friday, the rupee had closed at 79.78 per dollar. The dollar index, which gauges the strength of the dollar against the six major currencies, rose 0.26 per cent to 110.05. Global crude oil benchmark Brent crude futures fell 1.52 per cent to $89.96 per barrel. Dilip Parmar, Research Analyst, HDFC Securities said, “The dollar strengthened against the Chinese yuan. Further weakening of the yuan will be a dangerous sign for Asian currencies.

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