Markets extend losses for the third straight day; Sensex down 518 pts, Nifty loses 150 pts

ANI
21 Nov 2022, 17:33 GMT+10

Mumbai (Maharashtra), November 21 (ANI): The Indian markets ended in the negative territory on Monday as Sensex went down 518.64 points to 61,144.84 level while Nifty declined 150 points to 18,157.37 level. The markets were weighed down by the heavyweights such as ITC, Reliance Industries and HDFC Twins, among others.

Among the broad-based indices, BSE SmallCap lost 2.48 points to end at 28,752 with EaseMyTrip, IFCI, Central Bank, Escorts, JK Bank and DishTV, among the gainers on the index. BSE MidCap lost 38.07 points and ended at 25,096.85, with IOB, Manyavar, Union Bank, Max Health and Torrent Power among the active stocks while BSE LargeCap lost 59.95 points to settle at 7,025.88 level, while PNB, Indus Tower, Havells, Bharti Airtel and IOC among the most active stocks on the index.

Among the shares that were active on Monday, Airtel rose about 1.72 per cent as the telecom company launched 5G services in Guwahati on Monday. Punjab National Bank shares went up 3.82 per cent to Rs 47.60 apiece while Archean Chemical Industries which got listed today moved 12.57 per cent on BSE. Escorts' shares gain 8.13% to Rs 2,188 apiece on BSE.

In line with stock indices, the Indian rupee too weakened this morning. It opened at 81.85 per US dollar as against its Friday closing of 81.69. Indian stock indices extended their slump for the third consecutive session to start a fresh week. Continued profit booking by investors coupled with an eye on the future course of monetary policy action by the US Federal Reserve weighed on the indices.

The rupee has relatively strengthened in most of the recent sessions against the global benchmark dollar as the US dollar index has weakened substantially. The latest weakening of the US dollar is a positive for other currencies.In October, the rupee, however, breached the 83 mark for the first time in its history.According to VK Vijayakumar, Chief Investment Strategist at brokerage Geojit Financial Services: "The optimism driven by the recent decline in US inflation has run its course and the market is likely to wait for further data on the direction of US inflation and interest rates.""So, this is the time to play defensively rather than taking risky shots at the goal. Cautious defensive games can be a good short-term strategy," Vijayakumar added.Deepak Jasani, Head of Retail Research at HDFC Securities said Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh Covid-19 restrictions in parts of China. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.

More Information

null in null

Technology

Section

From ceasefire to misfire: Trumps claims stir concerns in India

By equating the two countries and ignoring terrorism concerns, the US leader risks undermining years of de-hyphenated diplomacy and...

VLC Holdings, Cyber Falcon Cyber Security Services sign MoU to launch cybersecurity training facilities in UAE

TOKYO, 20th May, 2025 (WAM) -- VLC Holdings Ltd (VLCHD), a leading Japanese technology company listed on the Nagoya Stock Exchange,...

Only 7% Indian firms are cybersecurity ready, alarming gap in security preparedness: Cisco

New Delhi [India], May 20 (ANI): Cybersecurity readiness remains alarmingly low in Indian companies, with only 7 per cent of firms...

Foxconn to invest $1.5 billion in its India operations

New Delhi [India], May 20 (ANI): Apple supplier Foxconn is set to invest USD 1.5 billion in its India unit, Reuters reported, citing...

Starlink begins operations in Bangladesh

Dhaka [Bangladesh], May 20 (ANI): Starlink, a satellite internet service owned by Elon Musk's SpaceX, has officially started operations...

"New e-Zero FIR to nab cyber criminals with unprecedented speed": Amit Shah

New Delhi [India], May 20 (ANI): Union Home Minister Amit Shah has said that the new e-Zero FIR initiative will automatically convert...

Business

Section