Market extends losing streak for third consecutive session
At close, Sensex was down 502.25 points or 0.62% at 80,182.20, and the Nifty was down 137.15 points or 0.56% at 24,198.85.
Indian stock indices traded marginally lower this morning, largely due to profit booking by investors.
At 9.57 am, Sensex traded at 61,782.52 points, down 90.47 points or 0.15 per cent, whereas Nifty traded at 18,380.55 points, down 22.85 points or 0.12 per cent. Notably, Sensex tasted a record high of 61,873 on Tuesday.
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Among the Nifty 50 companies, Divis Labs, Tata Steel, HDFCLife, Bajaj Finserv, and Bajaj Finance were the top five losers, while Dr. Reddy’s, Cipla, Eicher Motors, Adani Enterprises, and TCS were the top five gainers, National Stock Exchange data showed.
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Meanwhile, the rupee too depreciated mildly. It opened at 81.39 against the US dollar versus Tuesday’s close of 81.10.
Even after today’s depreciation, the rupee has relatively strengthened in most of the recent sessions against the global benchmark dollar as the US dollar index has weakened substantially. The weakening of the dollar is a positive for other currencies.
Barring the latest appreciation in November, the Indian rupee had been, however, weakening over the past several weeks to hit fresh new all-time lows.
In October, the rupee breached the 83 mark for the first time in its history. So far this year, the rupee has depreciated around 8-9 per cent.
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