 "Nifty struggles near 5,400; rupee weakens")
Markets continued their southward journey with 50-share Nifty struggling hold 5,400 support levels on back of falling rupee that exacerbated overseas investor outflows.
Risk appetite was frail on fear over military action after US Secretary of State John Kerry held Syrian government accountable for using chemical weapons in an attack.
At 10:30AM, the 30-share Sensex was down 255 points to trade at 18,302 and the 50-share Nifty declined 82 points at 5,393 levels.
At the Multi Commodity Exchange, crude oil prices for delivery in September traded Rs 29, or 0.42% higher at Rs 6,866 per barrel.
The broader markets fell with mid-caps and small-caps dropping 0.4-0.5 per cent on the BSE.
The market breadth was negative. Out of 1,509 stocks traded, 920 stocks declined while 503 stocks advanced on the BSE.
RUPEE
The rupee once again weakened against the dollar in early trades on Tuesday due to month-end dollar demand, said currency dealers.
At 10:30am, the rupee was trading at Rs 65.34 per dollar compared with Monday's close of Rs 64.31 on the Interbank Foreign Exchange .
GLOBAL MARKETS
Asian stocks fell while brent crude surged to over 5-month high on brewing tensions between Syria and US.
Japan’s Nikkei fell 0.2% to 13,602, Singapore’s Straits Times fell 1% to 3,057, China’s Shanghai Composite index was down 0.2% at 2,092 while Hong Kong’s Hang Seng fell 0.3% to 21,938 today.
STOCK MOVERS
Domestically, the key sectoral gainers included counters such as IT and consumer durables while banks, realty, capital goods, oil & gas, PSU lead the drop on the BSE.
The gainers included counters such as Infosys and TCS gaining 1.3% while Wipro rose 0.7%, Tata Power gained 0.3% on the BSE.
The laggards were Sesa Goa falling 3, HDFC and HDFC Bank dropped 4.5% each, Hindalco Industries declined 2.4% while Larsen & Toubro fell 0.9% on the BSE.
The key notable movers included counters such as IDFC that has dipped over 9% at Rs 86, its lowest value since May 2009 on BSE, extending its previous day’s fall, after the company barred fresh purchases of its shares by foreign institutional investors (FIIs) and non-resident Indians (NRIs). The stock has fallen nearly 17% in past two trading sessions.
Banking shares are under pressure on the bourses after the rupee once again weakened against the dollar in early trades on Tuesday due to month-end dollar demand.
YES Bank, HDFC Bank, IndusInd Bank, Axis Bank, Bank of India, Kotak Mahindra Bank and Bank of Baroda are down 3% each on the Bombay Stock Exchange (BSE). Federal Bank, ICICI Bank, Canara Bank, Punjab National Bank and State Bank of India from public sector are down 1-2%.
Risk appetite was frail on fear over military action after US Secretary of State John Kerry held Syrian government accountable for using chemical weapons in an attack.
At 10:30AM, the 30-share Sensex was down 255 points to trade at 18,302 and the 50-share Nifty declined 82 points at 5,393 levels.
More From This Section
Crude oil futures prices today rose by 0.42% to Rs 6,866 per barrel after speculators enlarged positions amid a firming trend in the Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in September traded Rs 29, or 0.42% higher at Rs 6,866 per barrel.
The broader markets fell with mid-caps and small-caps dropping 0.4-0.5 per cent on the BSE.
The market breadth was negative. Out of 1,509 stocks traded, 920 stocks declined while 503 stocks advanced on the BSE.
RUPEE
The rupee once again weakened against the dollar in early trades on Tuesday due to month-end dollar demand, said currency dealers.
At 10:30am, the rupee was trading at Rs 65.34 per dollar compared with Monday's close of Rs 64.31 on the Interbank Foreign Exchange .
GLOBAL MARKETS
Asian stocks fell while brent crude surged to over 5-month high on brewing tensions between Syria and US.
Japan’s Nikkei fell 0.2% to 13,602, Singapore’s Straits Times fell 1% to 3,057, China’s Shanghai Composite index was down 0.2% at 2,092 while Hong Kong’s Hang Seng fell 0.3% to 21,938 today.
STOCK MOVERS
Domestically, the key sectoral gainers included counters such as IT and consumer durables while banks, realty, capital goods, oil & gas, PSU lead the drop on the BSE.
The gainers included counters such as Infosys and TCS gaining 1.3% while Wipro rose 0.7%, Tata Power gained 0.3% on the BSE.
The laggards were Sesa Goa falling 3, HDFC and HDFC Bank dropped 4.5% each, Hindalco Industries declined 2.4% while Larsen & Toubro fell 0.9% on the BSE.
The key notable movers included counters such as IDFC that has dipped over 9% at Rs 86, its lowest value since May 2009 on BSE, extending its previous day’s fall, after the company barred fresh purchases of its shares by foreign institutional investors (FIIs) and non-resident Indians (NRIs). The stock has fallen nearly 17% in past two trading sessions.
Banking shares are under pressure on the bourses after the rupee once again weakened against the dollar in early trades on Tuesday due to month-end dollar demand.
YES Bank, HDFC Bank, IndusInd Bank, Axis Bank, Bank of India, Kotak Mahindra Bank and Bank of Baroda are down 3% each on the Bombay Stock Exchange (BSE). Federal Bank, ICICI Bank, Canara Bank, Punjab National Bank and State Bank of India from public sector are down 1-2%.