In the early trade on the 30-share Sensex platform, several stocks, including Asian Paints, HCL, Infosys, Kotak Bank, HUL, Wipro, and TCS, emerged in the red. These companies experienced a decline as the stock market opened lower on Wednesday, following losses in US equities overnight.
Winners and Losers in Early Trade
While some stocks witnessed a decline, others emerged as winners. Airtel, UltraCemco, L&T, ITC, IndusInd Bank, and Tata Motors were among the winners in early trade. Bharti Airtel, in particular, gained 1% on a 50% year-on-year jump in its Q4 net profit.
Sectorwise Performance
The Nifty IT, Metal, and Realty indices were among the top losers, experiencing a decline of up to 0.5%. On the other hand, the PSB index witnessed a 1% jump.
Previous Session’s Performance
In the previous session on Tuesday, the S&P BSE Sensex ended 413 points lower at 61,932, while the Nifty 50 dropped 112 points to 18,287.
Rupee Depreciation and Dollar Index
The rupee depreciated by 10 paise to 82.35 against the US dollar in early trade on Wednesday. This decline can be attributed to the strength of the American currency in the overseas market and a negative trend in domestic equities. The dollar index, which measures the strength of the greenback against a basket of six currencies, rose by 0.04% to 102.60.
Foreign Institutional Investors (FIIs) and Brent Crude Futures
According to exchange data, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,406.86 crore. In the global oil market, Brent crude futures, the benchmark for oil prices, advanced by 0.11% to $74.99 per barrel.
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