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Stock market opening bell: Sensex tanks over 485 points, Nifty below 23,000 in early trade

In the early trade, the 30-share BSE Sensex fell 485.77 points to 75,704.69 in early trade. Meanwhile, the Nifty declined 162.65 points to 22,929.55.

Stock market update for January 27.
Stock market update for January 27. Image Source : India tv
MumbaiPublished: , Updated:

Stock markets update: Equity benchmark indices declined in early trade on Monday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 485.77 points to 75,704.69 in early trade. Meanwhile, the Nifty declined 162.65 points to 22,929.55. 

Top gainers and losers

As the trading session commenced, Britannia, HUL, ICICI Bank, and Dr Reddy's Labs emerged as the top gainers on Nifty. Meanwhile, NTPC, Bharat Electronics, Hindalco, Trent, and Axis Bank witnessed losses. Except for the Realty sector, all other sectoral indices traded in the red.

Market movements

In early trading, Tech Mahindra showed a marginal gain of 0.14%. Stocks like Tata Motors and NTPC exhibited little movement. On the losing side, HCL Tech declined by 0.70%, Nestlé India by 0.92%, and Bajaj Finance by 1.06%. Additionally, TCS dropped by 1.10%, Zomato by 1.11%, ICICI Bank by 1.28%, Kotak Mahindra Bank by 1.32%, and Infosys by 1.34%, marking the highest dip.

Trends in Asian markets

Following a pullback in U.S. stocks from their all-time highs, Asian markets reflected mixed sentiments on Monday. Hang Seng (Hong Kong) rose by 0.9% to reach 20,249.64, while the Shanghai Composite Index increased slightly by 0.1% to 3,256.91. However, Nikkei 225 (Tokyo) fell by 0.6% to 39,699.76, impacted by the Bank of Japan’s decision to raise its benchmark interest rate to 0.25%, the highest level since 2008.

Rupee against dollar 

Meanwhile, the rupee depreciated 22 paise to 86.44 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market and a muted trend in domestic equities.

Forex traders said the Indian rupee gained on Friday but opened on a lower note on Monday as Trump Tariffs uncertainty gained. At the interbank foreign exchange, the rupee opened at 86.35 then fell further to 86.44 against the American currency, registering a decline of 22 paise over its previous close.

(With inputs from PTI)

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