ANI
21 Nov 2022, 10:48 GMT+10
New Delhi [India], November 21 (ANI): 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.
At the time of writing this report, Sensex traded at 61,172.36 points, down 491.12 points or 0.80 per cent, whereas Nifty traded at 18,160.45 points, down 147.20 points or 0.80 per cent.
Among the Nifty 50 stocks, Adani Enterprises, SBI Life, Adani Ports, Bajaj Finance, and ITC were the top five losers, whereas Britannia, BPCL, ONGC, Axis Bank, and Hindustan Unilever the top gainers, National Stock Exchange data showed.
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.
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 San Antonio 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 San Antonio Post.
More InformationWASHINGTON, D.C.: The U.S. is sending about 3,000 more soldiers to the U.S.-Mexico border as President Donald Trump pushes to stop...
RESTON, Virginia: Volkswagen is recalling more than 60,000 vehicles in the U.S. after a gear display malfunction was identified, which...
WASHINGTON, D.C.: Firefly Aerospace has achieved a major milestone in private space exploration, successfully landing its Blue Ghost...
AUSTIN, Texas: Tesla has taken a key step toward launching its long-promised robotaxi service by applying for a transportation permit...
WASHINGTON, D.C.: The U.S. military has 30 days to decide how it will find and remove transgender service members. This may involve...
(250308) -- SACRAMENTO, March 8, 2025 (Xinhua) -- Jonas Valanciunas (L) of Sacramento Kings competes during the 2024-2025 NBA regular...
ROME, Italy: Italy's agricultural sector is bracing for a major hit as U.S. tariffs threaten exports of iconic products like Prosecco...
WASHINGTON, D.C.: Former U.S. President Donald Trump says he wants to cut federal funding for colleges that allow what he calls illegal...
CNN - In a recent interview with CNN's Christiane Amanpour, Canadian Foreign Minister Mélanie Joly expressed strong opposition to President...
NEWARK, New Jersey: Over the weekend, a FedEx Boeing 767 cargo plane hit a bird while taking off from Newark Airport. One of its...
WASHINGTON, D.C.: The Pentagon told its civilian employees that they must provide a list of five bullet points detailing their accomplishments...
MELBOURNE, Australia: An Australian warship rescued Lithuanian adventurer Aurimas Mockus this week after he became stranded in the...