Sensex plunges 300 points and went below 38000; Rupee falls against dollar


The major stock indices Sensex and Nifty witnessed selling on the second trading day of the week due to negative trends from global markets and the exit of foreign funds. The Bombay Stock Exchange's flagship index Sensex lost 0.79 percent, down 300.06 points to close at 37734.08. At the same time, the National Stock Exchange's Nifty lost 0.86 percent (96.90 points) to close at the level of 11153.65.

So the decline

Traders said markets around the world we're witnessing a drop in the news of irregular financial practices in some major international banks and fears of another wave of Coronavirus epidemic in many parts of Europe. Meanwhile, the Shanghai, Hong Kong, and Seoul stock markets were trading with losses.

The rupee fell 20 paise to 73.58

On Tuesday, the rupee fell 20 paise to 73.58 (provisional) level due to a negative trend in the domestic stock market. At the Interbank Foreign Exchange market, the rupee opened with a weak trend at 73.50 and showed a further decline, finally closing at 73.58, indicating a fall of 20 paise over the previous closing price. The rupee had gained seven paise to close at 73.38 against the dollar on Monday.

During the day's trading, the local currency saw an upper level of 73.38 and a low of 73.64 against the US dollar. Meanwhile, the dollar index, showing the position of the US dollar against six major currencies, fell 0.04 percent to 93.61. Foreign institutional investors were net sellers in the capital market and sold shares worth Rs 539.81 crore on a gross basis on Monday, as per the stock market data. Brent crude futures, the global oil benchmark, rose 0.65 percent to $ 41.71 a barrel.

Such was the situation of veteran shares

Talking about the big stocks, today TCS, HCL Tech, Tech Mahindra, Sun Pharma, and Grasim's shares closed on the green mark. Infratel, Zee Limited, IndusInd Bank, Adani Ports, and Gail were closed on the red mark.

Sectoral index tracking

If we look at the sectoral index, today all sectors except IT and Pharma closed on the red mark. These include auto, realty, media, PSU bank, finance services, bank, private bank, FMCG, and metal.

Such was the condition of the market throughout the day

The Sensex opened 66.63 points or 0.18 percent up at 38100.77 in early trade and the Nifty opened 0.21 percent or 23.70 points higher at 11274.25.

The Sensex then fell more than 300 points during trading. The 30-share BSE Sensex was trading at 30,712 points, or 0.80 percent, at 37,729.02, while the NSE Nifty was down 97.10 points or 0.86 percent at 11,153.45.

The market was closed on the last trading day

There was a sell-off in the domestic stock market on the last trading day. The Sensex was down 811.68 points to end at 38034.14, down by a massive 2.09 percent, and the Nifty was down 2.46 percent (282.75 points) to end at 11222.20.