ANI
21 Nov 2022, 17:33 GMT+10
Mumbai (Maharashtra), November 21 (ANI): The Indian markets ended in the negative territory on Monday as Sensex went down 518.64 points to 61,144.84 level while Nifty declined 150 points to 18,157.37 level. The markets were weighed down by the heavyweights such as ITC, Reliance Industries and HDFC Twins, among others.
Among the broad-based indices, BSE SmallCap lost 2.48 points to end at 28,752 with EaseMyTrip, IFCI, Central Bank, Escorts, JK Bank and DishTV, among the gainers on the index. BSE MidCap lost 38.07 points and ended at 25,096.85, with IOB, Manyavar, Union Bank, Max Health and Torrent Power among the active stocks while BSE LargeCap lost 59.95 points to settle at 7,025.88 level, while PNB, Indus Tower, Havells, Bharti Airtel and IOC among the most active stocks on the index.
Among the shares that were active on Monday, Airtel rose about 1.72 per cent as the telecom company launched 5G services in Guwahati on Monday. Punjab National Bank shares went up 3.82 per cent to Rs 47.60 apiece while Archean Chemical Industries which got listed today moved 12.57 per cent on BSE. Escorts' shares gain 8.13% to Rs 2,188 apiece on BSE.
In line with stock indices, the Indian rupee too weakened this morning. It opened at 81.85 per US dollar as against its Friday closing of 81.69. Indian stock indices extended their slump for the third consecutive session to start a fresh week. Continued profit booking by investors coupled with an eye on the future course of monetary policy action by the US Federal Reserve weighed on the indices.
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 latest weakening of the US dollar is a positive for other currencies.In October, the rupee, however, breached the 83 mark for the first time in its history.According to VK Vijayakumar, Chief Investment Strategist at brokerage Geojit Financial Services: "The optimism driven by the recent decline in US inflation has run its course and the market is likely to wait for further data on the direction of US inflation and interest rates.""So, this is the time to play defensively rather than taking risky shots at the goal. Cautious defensive games can be a good short-term strategy," Vijayakumar added.Deepak Jasani, Head of Retail Research at HDFC Securities said Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh Covid-19 restrictions in parts of China. (ANI)Get a daily dose of Baton Rouge Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.
More InformationCINCINNATI, Ohio: Kroger CEO Rodney McMullen has resigned following a board investigation that found his personal conduct to be inconsistent...
HANOI, Vietnam: Vietnam is set to fast-track licensing for Elon Musk's Starlink satellite internet service, while also exploring ways...
NEW YORK, New York - U.S. stocks were highly volatile on Wednesday with the major indices jumping back and forth into negative territory....
RESTON, Virginia: Volkswagen is recalling more than 60,000 vehicles in the U.S. after a gear display malfunction was identified, which...
MENLO PARK, California: Meta Platforms is gearing up to introduce a paid subscription service for its AI-powered chatbot, Meta AI,...
BEIJING, China: China's manufacturing sector is expected to shrink for a second consecutive month in February, signaling continued...
Moscow [Russia], March 6 (ANI): On Thursday, Russian Foreign Minister Sergei Lavrov stated that Moscow would consider the deployment...
Srinagar (Jammu and Kashmir) [India], March 6 (ANI): Chief Minister Omar Abdullah on Thursday took potshots at the BJP members in assembly...
The opening meeting of the third session of the 14th National People's Congress (NPC) is held at the Great Hall of the People in Beijing,...
Polish Prime Minister Donald Tusk has called for Europe to escalate its military buildup, claiming Russia will lose like the USSR ...
Brussels [Belgium], March 6 (ANI): Ukrainian President Volodymyr Zelenskyy expressed heartfelt gratitude to European leaders for their...
New Delhi [India], March 6 (ANI): Former New Zealand captain Tim Southee and former South African pacer Vernon Philander expressed...