BSE benchmark closes above 34,000; rupee too rises 32 paise against the dollar to end at 64.73
This is the lowest closing of the Indian currency since November 20 last year.
The study has found that the Sensex 30 companies have higher governance standard than other firms due to “better disclosures, more robust checks and balances”.
On Thursday, while the domestic institutional investors pumped in a net of Rs 2,373 crore, the foreign portfolio investors sold Indian equities worth Rs 2,297 crore.
The 30-share index, which had bounced over 470 points in the opening trade in sync with positive leads from global markets, slipped into the negative zone as participants booked profits at higher levels and hit a low of 34,008.
With this, the Sensex has now lost 1,769 points since the Budget on February 1, which imposed a 10 per cent long-term capital gains tax on equities and projected a higher fiscal deficit than earlier targeted.
Indian markets – Sensex and NSE – witnessed a sharp fall following global cues and closed in the red. While experts on news channels and sites try and decode the bloodbath on Dalal Street, people on social media have their own punny way of reasoning things out.
Experts said people are starting to really get increasingly uncomfortable with the rapid rise in interest rates that they have seen and the uncertainty of how that is actually going to start to play out relative to competition for stocks.
Bajaj Auto, Axis Bank & Maruti Suzuki emerge as biggest losers of the day; 2,548 stocks decline
The benchmark BSE Sensex was trading lower by 124.28 points or 0.34 per cent at 35,909.45 in early deals as investors turned cautious ahead of the budget
Sensex settled at 36,033.73, down 249.52 points, or 0.69%. The Nifty too closed lower by 80.75 points, or 0.73%
The BSE 30-share barometer fell by 162.24 points or 0.45 per cent to 36,121.01 with IT, teck, healthcare, metal, capital goods and banking stocks falling up to 0.68 per cent
The rupee opened lower by 5 paise at 63.60 today against the previous close of 63.55. It later recovered ground to touch a high of 63.54 before trading at 63.55 at 0945 hrs
However, the 1,000-point rally in less than a week, and 342 points gain on Tuesday, has raised the spectre of excessive speculation ahead of the Union Budget scheduled on February 1.
Shares have been on a record-setting spree, bolstered by a string of better-than-expected corporate earnings and recent government measures, including a cut in the Goods and Services Tax (GST) for certain sectors