MUMBAI: Foreign portfolio investors (FPIs) dumped stocks on Tuesday as the rupee touched a new life low, a day after shock data on India's trade deficit in November. The market fall, a day ahead of an expected interest rate cut in the US, also comes at a time of increased supply through initial public offers.
On Tuesday, in addition to cash sales, FPIs raised bearish bets on Indian derivatives. Trade data showed markets are in oversold territory, with chances of volatility increasing. BSE data showed FPIs net sold Indian shares worth a provisional ₹6,409.86 crore as the rupee plunged to a new low of 84.93, before recovering to close down three paise at 84.90. Though local institutions net purchased a provisional ₹2,706.48 crore, that was not enough to prevent the Nifty and Sensex from falling the most in nearly three weeks. While the Nifty tanked 1.35% to 24,336, the Sensex shed 1.3% to close at 80684.45.
Data released on Monday showed India's goods trade deficit in November shot up to nearly $38 billion, an all-time high, as imports rose and exports fell.
Esta historia es de la edición December 18, 2024 de Hindustan Times Navi Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 18, 2024 de Hindustan Times Navi Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
How the challenge of batting in Oz changed
KOOKABURRA RELEASED A REDESIGNED BALL FOR TESTS IN 2021 THAT WAS SUPPOSED TO MAKE THE GAME MORE EXCITING, BUT IT HAS ONLY MADE BATTING MORE DIFFICULT
Grit in the tail frustrates the hosts, India avoid follow-on
Like in 2021, there was defiance in the damp air of Gabba as Deep and Bumrah steer India towards a likely draw on Day 4
Jhulan Goswami stand: Another historic moment at Eden Gardens
KOLKATA: At 6.58pm on a misty winter evening near the Eden Gardens change rooms, Jhulan Goswami took the stage. And said she was speechless.
DEVESH HITS 64 TO LEAD MODERN ENGLISH'S CHASE IN HARRIS FINAL
MUMBAI: Modern English School have put themselves in a good position after scoring 263/8 at stumps on Day 2 of the Harris Shield final against Anjuman I-Islam Allana School, at the Brabourne Stadium.
Prithvi Shaw now axed from Vijay Hazare squad
In a forgettable season, Prithvi Shaw received another jolt when the Mumbai selectors ignored his superb record in List A cricket by dropping him from the squad for the upcoming 50-over Vijay Hazare Trophy tournament.
Pidilite, two others vie for Dulux maker
MUMBAI: The race for Akzo Nobel India Ltd has narrowed to Pidilite Industries Ltd, JSW Paints Pvt. Ltd and Indigo Paints Ltd, two people close to the development said, with a deal likely to value the maker of Dulux paints at $2.1-2.5 billion.
Hayley shines, WI level series with big victory
The visiting skipper hit a 47-ball 85* after taking 2 wickets to help the Caribbean women level the 3-match T20 series
Market in oversold zone on FPI selling
Fall risk Apart from cash selling, Flls increased bearish bets on index futures by a whopping 16,060 contracts on Tuesday.
RBI's new leadership to retain anti-crypto stance, officials say
The change of guard at the Reserve Bank of India (RBI) is unlikely to change the central bank's position on private cryptocurrencies, two officials said.
CHINA EXECUTES OFFICIAL INVOLVED IN BIGGEST CASE OF GRAFT WORTH $421 MILLION
BEIJING: China, on Tuesday, executed Li Jianping, a former official in the north Inner Mongolia Autonomous Region, who was convicted in the largest-ever corruption case in the country totaling over $421 million.
