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In individual stocks, banking shares such as HDFC Bank, State Bank of India (SBI), IndusInd Bank and ICICI Bank fell in the range of 1 per cent to 3.3 per cent.

Markets, Up, Down, BSE, NSE, Stocks

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	The benchmark indices&nbsp;settled lower on Tuesday amid a weakening rupee, which fell to its fresh record low for the third straight session earlier in the day.<br />
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	The S&P BSE Sensex ended at 38,158, down 155 points while the broader Nifty50 index settled at 11,520, down 62 points.<br />
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	The Indian currency slipped to a new record low of 71.50 per dollar in intra-day trade.&nbsp;It has declined 3.3 per cent in August and over 10 per cent&nbsp;so far in year-to-date, to emerge as the worst-performing currency in Asia.<br />
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	In individual stocks, banking shares such as HDFC Bank, State Bank of India (SBI), IndusInd Bank and ICICI Bank fell in the range of 1 per cent to 3.3 per cent.<br />
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	Among sectoral indices, the Nifty IT index rose around 2 per cent&nbsp;led by a&nbsp;rise in Infosys, HCL Technologies, and&nbsp;Tata Consultancy Services (TCS).<br />
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			<strong>TCS at new high; m-cap hits Rs 8 trillion</strong></div>
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			Shares of Tata Consultancy Services (TCS) hit a new high of Rs 2,099 per share in intra-day trade, rising 2% on the National Stock Exchange (NSE), trading close to their share buyback price of Rs 2,100 per share. The market-capitalisation hit the Rs 8-trillion mark on Tuesday, the third time it has achieved this feat ever in intra-day. <a href="https://www.business-standard.com/article/markets/tcs-hits-new-high-stock-nears-share-buyback-price-of-rs-2-100-118090400308_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	<br />
	<strong>FPIs&nbsp;ring alarm bells on Sebi ownership notice; Market regulator calls it&nbsp;&quot;preposterous&quot;</strong><br />
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	The sentiment was also affected after the foreign portfolio investors (FPIs) upped their ante against a circular issued by the market regulator, Securities and Exchange Board of India (Sebi), on beneficial ownership of offshore funds.<br />
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	On April 10, SEBI modified the KYC norms applicable to Foreign Portfolio Investors. NRIs, OIC s and PIOs are now prevented from being &quot;Beneficial Owners&quot;, or &quot;in control&quot;, via the FPI route.<br />
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		With a lobby of FPIs trying hard to get the proposed changes to KYC norms withdrawn, market regulator Sebi on Tuesday said it is &quot;preposterous and highly irresponsible&quot; to claim that $75 billion will move out of India because of the regulatory move.<br />
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		<strong>Global Markets</strong></div>
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	Asian shares fell and the dollar turned higher on Tuesday as the trade dispute between the United States and China threatened to escalate this week, and as emergency austerity measures in Argentina underscored the turbulence gripping emerging markets.<br />
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		MSCI&#39;s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Chinese blue-chips also fell 0.3 per cent, reversing earlier gains. Japan&#39;s Nikkei slid less than 0.1 per cent, while Australian shares were 0.4 per cent lower ahead of a central bank policy meeting.</div>
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	<em>(With inputs from Reuters)</em></div>

MARKET WRAP: Indices settle lower on weak rupee; TCS m-cap at Rs 8 trillion

Business Standard

MARKET WRAP: Indices settle lower on weak rupee; TCS m-cap at Rs 8 trillion | News on Markets - Business Standard

<div>
	<strong>Today&#39;s picks</strong></div>
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	<strong>Bajaj Finance</strong></div>
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	Current price: Rs 2,724</div>
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	Target price: Rs 2,680</div>
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	&nbsp;</div>
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	Keep a stop at Rs 2,750 and go short. Add to the position between Rs 2685 and Rs 2700. Book profits at Rs 2,680.</div>
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	&nbsp;</div>
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	<strong>PowerGrid</strong></div>
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	Current price: Rs 195</div>
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	Target price: Rs 190</div>
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	&nbsp;</div>
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	Keep a stop at Rs 197 and go short. Add to the position between Rs 191 and Rs 192. Book profits at Rs 190.<br />
	<a href="https://www.business-standard.com/article/markets/today-s-picks-from-nifty-to-powergrid-hot-stocks-to-watch-on-tuesday-118090400002_1.html" target="_blank"><br />
	<strong>Click here for more</strong></a></div>

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	<strong>Rupee ends at fresh record low of 71.21/$</strong></div>
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	The Indian rupee, on Monday, closed at a record closing low of 71.21 on the back of overseas fund outflows even as GDP data saw a robust growth for the April-June quarter of current fiscal. The currency touched an intraday low of 71.23 to the US dollar. This is in sharp contrast to the way it had begun trade. In the morning, the currency had started on a positive note as it opened higher by 19 paise to the previous close at 70.80 per dollar.</div>

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	<strong>Oil prices higher as US sanctions limit Iran exports</strong></div>
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	Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once US sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.</div>
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	Brent crude oil was up 37 cents at $78.01 a barrel. US crude was 30 cents higher at $70.10.</div>

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	<strong>SGX Nifty</strong></div>
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	Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 per cent. Nifty futures were trading around 11,629-level on the Singaporean Exchange.</div>

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	<strong>Asian shares fall under pressure from trade, emerging markets worries</strong></div>
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	Asian shares fell in early trade on Tuesday, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets.</div>
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	MSCI&#39;s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after European shares ended mostly flat. Japan&#39;s Nikkei slid 0.3 percent and Australian shares were 0.2 percent lower. US markets were closed yesterday on account of Labor Day</div>

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