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Global cues, oil prices subdue equity indices; IT stocks decline
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SME Times News Bureau | 12 Oct, 2021
Weak global cues as well as rising crude oil prices subdued India's key
equity indices -- S&P BSE Sensex and NSE Nifty50 -- during Tuesday's
mid-afternoon trade session.
Globally, stock markets weakened
following a decline in the US overnight as rising crude oil prices
accelerated concerns about prolonged inflation and monetary policy
tightening.
Among sectors, consumer durables and realty have gained the most, whereas, IT and Telecom have lost the most.
Consequently,
the 30- scrip sensitive index traded at 60,181.97 points, around 2.30
p.m., up 46.19 points or 0.077 per cent from its previous close.
Besides, the NSE Nifty50 ended at 17,966.05 points, up by 20.10 points or 0.11 per cent.
"Nifty
opened higher and made an intraday high during the first 10 minutes of
the day. It later fell in line with other Asian markets and made low in
noon," said Deepak Jasani, Head of Retail Research, HDFC Securities.
"A gradual recovery followed. Volumes on the NSE are in line with the recent average and the advance decline ratio is even."
According to Gaurav Garg, Head of Research, CapitalVia Global Research:
"Traders
were cautious as a private report stated that the Reserve Bank is
likely to change the stance of its monetary policy and hike rates from
the first quarter of 2022."
"Some concern also came after the
World Bank said that the debt burden of the world's low-income countries
rose by 12 per cent as countries responded to the Covid-19 crisis with
massive fiscal, monetary and financial stimulus packages."
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
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