As market volatility eased ahead of the Reserve Bank of India’s (RBI) monetary policy announcement later this week, the rupee rose 9 paise to end at 81.58 against the US dollar on Tuesday.
The Sensex ended a tad lower at 57,107.52, down 37 points, or 0.07 per cent. The Nifty at NSE was down 8.9 points, or 0.05 per cent, to close at 17,007. On Tuesday, foreign institutional investors net sold Rs 2,823.96 crore of shares in domestic capital market, according to provisional data by the BSE.
Meanwhile, Wall Street sank deeper into a bear market, with the S&P 500 hitting a two-year intraday low as US Fed policymakers showed an appetite for more rate hikes. In afternoon trading, the Dow Jones Industrial Average was down 0.74 per cent at 29,045.38 points, while the S&P 500 lost 0.57 per cent to 3,634.13. The Nasdaq Composite dropped 0.24 per cent to 10,777.00.
Meanwhile, as per an FE report, Department of Economic Affairs Secretary Ajay Seth said India has “fairly large” foreign exchange reserves and concerns about their depletion are “overblown”.
WITH FE & Reuters
