Stock markets: Sensex slides 207 points, Nifty below 22000 points on first day of new year

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Sensex, Nifty, Rupee against dollar
Image Source : INDIA TV Stock markets update – January 1

Stock markets update: Equity benchmark indices opened in negative on Monday, the first day of the new year 2024, amid profit-taking after the recent sharp rally and lack of trends from global markets. In the early trade, the 30-share BSE Sensex declined 207.29 points to 72,032.97. Meanwhile, the Nifty also fell by 46.65 points to 21,684.75 points.

Among the Sensex firms, Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, Tata Consultancy Services, NTPC, HDFC Bank and Kotak Mahindra Bank were the major laggards.

Tata Motors, Nestle, IndusInd Bank and Power Grid were among the winners. Asian markets were closed on Monday for the New Year. The US markets ended marginally lower on Friday. Global oil benchmark Brent crude declined 0.14 per cent to USD 77.04 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 1,459.12 crore on Friday. The BSE benchmark fell 170.12 points or 0.23 per cent to settle at 72,240.26 on the last trading day of 2023 on Friday. The Nifty declined 47.30 points or 0.22 per cent to settle at 21,731.40. 

Rupee against dollar 

Meanwhile, the rupee started the new year on a flat note and depreciated 3 paise to 83.19 against the US dollar in the morning session, amid a negative trend in domestic equities and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from easing crude oil prices was negated by the strength of the American currency in the overseas market.

At the interbank foreign exchange, the rupee opened at 83.18 against the dollar, then fell to 83.19, registering a fall of 3 paise over its previous close. In the initial trade, the rupee also touched an early high of 83.15 against the US dollar.

(With inputs from PTI)

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