Investors lost over Rs four crore on Monday as domestic benchmark index Sensex sharply fell 750 points at the close of the session while its broader peer Nifty fell below the 16,900 level.
At close, the 30-share Sensex fell 638.11 points to end at 56,788 while NSE’s Nifty50 fell 207 points to finish at 16,887.
Indian markets were tracking Global peers with the European STOXX600 index down 1.4 per cent while London’s FTSE-100 stock index was down 1 per cent, falling in line with other markets. Asian stocks were mostly negative, however, Japanese market found support from strong energy and semi conductive shares.
The Indian Rupee continued to be under pressure as it was trading 0.67 per cent lower at 81.89 against US dollar. Though a depreciating Rupee is positive for exporters, it makes the country’s imports costlier.
Foreign Institutional Investors have been selling in the Indian equity market ever since the US Federation’s 75 basis points rate hike on September 21 last. On Friday last week, FIIs sold equities worth over Rs 1500 crore and in September 2022 the FIIs sold shares worth Rs 7624 crore as per NSDL data.
