Share price today LIVE Updates: With the rupee recuperating from initial loss, the benchmark Sensex recovered by nearly 185 points to 37,829.93 in early trade.
Latest data showed that retail inflation fell to 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review.
Sensex also logged its second straight session loss, plunging over 224 points to a near two-week low of 37,645. The NSE Nifty fell by 73.75 points
to end at 11,355.75.
Banking sparkles; ICICI tops gainers’ list
The broader NSE Nifty extended its record-setting run for the fourth session and finished above the 11,400-mark for the first time.
The 30-share Sensex stayed in the green throughout the session and hit the day’s high of 37,582.27 on a flurry of buying.
Rupee sinks 27 paise to close at a one-week low of 68.70 against the US dollar.
Algorithmic trading, or “algo” in market parlance, refers to orders generated at superfast speed by the use of advanced mathematical models that involve automated execution of trade.
NSE and SGX have locked horns since the beginning of this year after the largest domestic bourse and others decided to stop licensing their indices to foreign bourses from August.
The Sensex also scaled a new record intra-day high of 36,902.06 points. It had hit its previous record intra-day high of 36,749.69 on Monday.
The rally was led by FMCG and consumer durable shares after the GST Council cut rates on over 50 goods including refrigerators, televisions, footwear and paints to 18 per cent from 28 per cent.
The Indian currency’s fall on Thursday was the biggest single-day fall since May 29. The last time the rupee hit an all-time closing low of 68.9413 was on July 5. It touched all-time intra-day low of 69.09/10 on June 28.
Shares of DRL fell 9.85% after a US court restrained the firm from resuming sales of its generic version of Suboxone in the US.
India’s trade deficit widening to a more than three-and-a-half-year high of USD 16.6 billion due to costlier crude oil imports, weighed on investor sentiment, brokers said.
BSE mid- and small-cap indices showed a decline of 14 and 18 per cent, respectively, from their all-time highs in January.