Stock Market Update: Weakness is still being seen in the domestic stock market amid weak global cues. Both Sensex and Nifty indices have weakened in today’s trading. There is a weakness of about 250 points in the Sensex, then the Nifty has also come down to 17550. In today’s business, pressure is being seen on almost every major sector. There is selloff in Bank, Financial and IT stocks.
However, metal and pharma indices are in the green on Nifty. Weakness is being seen in FMCG, Realty Index. At present, the Sensex is down by 252 points and it is trading at the level of 58,867.65. Whereas Nifty is at the level of 17548 after breaking 82 points. Heavyweight stocks are selling. 24 stocks of Sensex 30 have weakened. Top losers today include HDFC, HDFC Bank, TECHM, INDUSINDBK, KOTAKBANK, NTPC, WIPRO.
Global signals look weak. There is heavy selling in major Asian markets in today’s business. On the other hand, for the third consecutive day on Thursday, the US markets closed weak. The US Fed has also given strict messages regarding the increase in interest rates. Brent crude continues to soften and it weakened to $ 90 a barrel. While there was weakness in US crude and it is at $ 83 per barrel. The 10-year bond yield in the US rose to 3.719 per cent.
The Indian rupee on Friday went below the level of 81 against the US dollar for the first time. Rupee is trading at 81.13 per dollar today. This is the weakest level ever for the domestic currency. While the 10-year bond yield jumped 6 basis points to a 2-month high of 3.719 percent due to the rise in the US Treasury yield. The US Fed has increased interest rates by 75 basis points in the policy for the month of September and has given strict messages even further. This will support the dollar.