Business Economy


Stock markets end lower amid depreciation in rupee

New Delhi, Dec 16 (UNI) The Indian Stock markets ended lower for the second consecutive day on Tuesday amidst depreciation in rupee as well as the uncertainty over India-US trade deal, with the BSE Sensex plunging by 533.50 points or 0.63 percent to 84,679.86, and the NSE Nifty slipping by 167.20 points or 0.64 pc to 25,860.10.
BSE Midcap and Smallcap indices were down nearly 1 pc each.
The overall market capitalisation of BSE-listed firms dropped to Rs 467 lakh crore from Rs 471 lakh crore in the previous session.
Among the sectors, financials showed some significant declines. Nifty Bank fell 0.72 pc while the Financial Services index declined 0.79 pc. Nifty Private Bank suffered losses of 1.23 pc while PSU Bank was down 0.89 pc.
Realty indices suffered loss of 1.29 pc, IT was down 0.84 pc, and Oil and Gas shed 0.77 pc.
On Nifty, only 11 stocks managed to end in the green. Among these were Bharti Airtel (1.70 pc), Titan Company (1.65 pc), and Tata Consumer Products (1.26 pc).
On the other hand, shares of Axis Bank tumbled 5.12 pc, followed by Eternal (by 4.67 pc), and JSW Steel (2.66 pc).
On the BSE, 103 stocks hit their 52-week highs and 139 stocks hit their 52-week lows.
Those on the highs were Vedanta, Hindustan Zinc, and Ashok Leyland, while on lows were ACC, REC, Petronet LNG, Page Industries, and Mankind Pharma.
Among some of the key performances, KNR Constructions shares slipped 3 pc, Gallantt Ispat shares added 2 pc post 1.2 million shares traded in a block, SEPC shares rose 5 pc.
Indian rupee breached the 91 mark against the US dollar for the first time, registering another historic low of 91.07.
Analysts believed that the continued Rupee weakness to fresh record lows dragged markets into negative territory.
Volatility is expected to remain elevated amid currency fluctuations and uncertainty over foreign inflows, and the progress on the US–India trade deal and rupee stabilisation will be critical. UNI VK SAS SS
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