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The Indian stock market was in a bearish mood today amid heavy volatility and the benchmark indices ended the day with a loss of 0.75 per cent.
The BSE SME IPO index was the only major gainer, closing 2.62 per cent higher. Selling among players intensified as the RBI kept interest rates unchanged due to inflation concerns.
After opening 48 points down initially, the Sensex hit an intra-day high of 79,626 and a low of 78,886 today. Thus, after a total volatility of 828 points, the Sensex finally closed 582 points or 0.73 per cent down at 78,886. Nifty also opened 49 points down and hit a high of 24,340 and a low of 24,079. Thus, after a total volatility of 261 points, the Nifty finally closed 180 points or 0.74 per cent down at 24,117. The BSE mid-cap index closed 204 points or 0.44 per cent down at 46,626, while the small-cap index closed 86 points or 0.16 per cent down at 53,192. The BSE SME IPO index was the only gainer and closed 2,494 points or 2.62 per cent higher at 97,661. The volatility index rose 2.67 per cent to 16.60 today. Eight of the 14 sectoral indices on the Nifty closed with a decline. The Nifty IT index was down 1.90 per cent, metal 1.74 per cent, PSU banks 0.78 per cent, realty 1.21 per cent, oil and gas 1.32 per cent and consumer durables 0.83 per cent. In the stock markets, the Nifty rose 0.35 per cent. The rest of the sectoral indices that closed higher saw a rise of 0.08 per cent to 0.24 per cent.
FIIs today sold Rs. 2,626 crore net in the Indian stock market while DIA took Rs. 577 crore net. With this, the figure of net selling of FIIs in August is Rs. 20,765 crore while the figure of net borrowing of DII is Rs. 19,619 crore.
Out of a total 4,014 stocks traded on the BSE today, 1,759 stocks rose, 2,159 declined while 96 closed flat. The market capitalization of the BSE today stood at Rs. 445.75 lakh crore, up from yesterday's level of Rs. 448.57 lakh crore, a decline of Rs. 2.82 lakh crore. Out of the 30 Sensex stocks, seven closed with gains while 21 closed with losses. Out of the 50 Nifty stocks, 41 closed with losses while 9 closed with gains.
Rupee falls to low of 83.9625
The decline in the Indian rupee against the US dollar continued for the fifth consecutive day today and closed at a new low of 83.9625 against the dollar at the end of the day. In comparison, the closing level of the rupee in the previous session was 83.9550. The rupee continues to fall due to the still dangerous situation in the global market.
