Finance
On October 22, Indian market indices closed on a poor note, with the Nifty falling below 24,500. The Sensex closed down 930.55 points, or 1.15 percent, at 80,220.72, while the Nifty fell 309 points, or 1.25 percent, to 24,472.10.
Stock update
All indices on the 30-share Sensex platform closed in the red, with the exception of ICICI Bank. M&M, Tata Steel, PowerGrid, SBI, Tata Motors, and IndusInd Bank are among the biggest losers.
The fear index, India VIX, which measures volatility in the Indian stock markets, closed up 4.21 percent at 14.34 points.
The Nifty Smallcap 100 index lost 3.92 percent, while the Nifty Midcap 100 dropped 2.61 percent.
Sectoral update
Among the sectoral benchmarks, the Nifty PSU Bank index fell the most, down 4.18 percent. It was followed by the real estate and metal indices, which fell 3.08 percent and 3%, respectively. Additionally, the auto, media, consumer durables, and various healthcare indices all finished the day down by more than 2%.
The BSE Sensex index down 73 points in the previous session on Monday, closing at 81,151, while the NSE Nifty50 fell 73 points to 24,781.
Global update
In Asian markets, Seoul and Tokyo fell, while Shanghai and Hong Kong rose. European stocks were trading down. The US markets closed on a mixed note on Monday.
The global oil benchmark Brent crude rose 0.61 percent to $74.74 a barrel.
Rupee closes flat
On Tuesday, the rupee finished unchanged at 84.07 (provisional) against the US dollar for the second straight session, weighed down by weak domestic equity markets and an ongoing outflow of foreign funds. Forex experts claimed the local currency was being pushed down by high crude oil costs and a strong US dollar amid rising US treasury yields.
At the interbank foreign exchange market, the domestic currency opened at 84.07 versus the US dollar and moved between 84.06 and 84.08 throughout the session. The unit eventually settled at the previous day’s closing price of 84.07 (provisional) versus the dollar. On Monday, the rupee remained steady at 84.07 against the USD.
