Stock market update: Nifty slips below 18000
In the Indian stock market at present, the scene of mass selling is being seen all around. The same is the case with the international market. Almost all the companies are ending in red. There is a big reason behind this, whose string is connected to America. Today, both Sensex and Nifty closed the business with a tremendous fall. The Sensex was seen trading at 57,900 with a loss of 337 points and the Nifty at 17,922 with a loss of 113 points. This decline has brought the market to 5 months low level. Heavy selling in bank, financial and auto stocks amid the bankruptcy of Silicon Valley Bank (SVB) in the US has led to such a sharp decline in the domestic market.
Rupee tumbles against dollar
The rupee depreciated 12 paise to 82.35 against the US dollar in early trade on Tuesday due to strengthening of the US dollar and outflow of foreign capital from domestic equity markets. At the interbank foreign exchange market, the rupee opened weak at 82.27 against the dollar and then recovered to 82.24 with some gains. However, later it was at 82.35 registering a decline. The rupee had closed at 82.23 against the US dollar on Monday. Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, rose 0.26 per cent to 103.86. Global oil benchmark Brent crude futures were down 1.08 per cent at $79.90 a barrel.
