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Stock markets updates: Sensex, Nifty open marginally lower a day after hitting record high

Stock markets: In the early trade, the 30-share BSE Sensex fell around 227 points to 73,101.01. Meanwhile, the Nifty also saw a decline of 68 points to begin on a quiet note.

Edited By: Anurag Roushan @Candid_Tilaiyan Mumbai Updated on: January 16, 2024 13:37 IST
Stock markets, Sensex, Nifty
Image Source : PTI/REPRESENTATIVE Stock markets update - January 16

Stock markets update: Equity benchmark indices Sensex and Nifty opened in red on Tuesday after making unprecedented gains a day earlier. The 30-share BSE Sensex fell 226.93 points to 73,101.01 in early trade. Meanwhile, the Nifty also declined by 68.25 points to 22,029.20. 

In the last five sessions, the BSE benchmark rallied 1,972.72 points or 2.76 per cent. The Nifty jumped 584.45 points or 2.71 per cent.

Among the Sensex firms, HCL Technologies, Wipro, Tech Mahindra, NTPC, Reliance Industries, Infosys, Tata Consultancy Services and HDFC Bank were the major laggards.

IT stocks fell on profit-taking after rallying sharply in the past two sessions. Tata Motors, Bajaj Finance, Maruti and Asian Paints were among the gainers. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower. The US markets were closed on Monday on account of Martin Luther King, Jr. Day.

Rupee falls against dollar

Meanwhile, the rupee reversed its nine-day upward movement and depreciated 11 paise to 82.97 against the US dollar in early trade on Tuesday, tracking a strong American currency against major overseas rivals and subdued equity market sentiment. Some inflow of foreign funds supported the Indian currency which was weighed down due to volatile crude oil prices, forex traders said.

At the interbank foreign exchange, the domestic currency opened weak at 82.95 and slipped further to 82.97 against the greenback in initial trade, registering a loss of 11 paise from its previous close.

(With PTI inputs)

ALSO READ: World Bank maintains India's GDP growth forecast for 2023-24 at 6.3%

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