Markets start weak on new year's day; Rupee falls
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Mumbai: On the first trading day of 2024, Monday, equity benchmark indices dwindle during profit-taking. This is after the recent sharp rally and lack of trends from global markets, PTI reported.
Further, Rupee fell 3 paise to 83.19 against the US dollar in early trade.
In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 per cent, and the Nifty climbed 3,626.1 points or 20 per cent.
On Monday, the 30-share BSE Sensex fell 207.29 points to 72,032.97 after a muted beginning. The Nifty declined 46.65 points to 21,684.75.
Among the Sensex firms, Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, Tata Consultancy Services, NTPC, HDFC Bank and Kotak Mahindra Bank were the major laggards.
Tata Motors, Nestle, IndusInd Bank and Power Grid were among the winners.
Asian markets were closed on Monday for the New Year.
The US markets ended marginally lower on Friday.
Global oil benchmark Brent crude declined 0.14 per cent to USD 77.04 a barrel.
According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 1,459.12 crore on Friday.
The BSE benchmark fell 170.12 points or 0.23 per cent to settle at 72,240.26 on Friday, the last trading day of 2023. The Nifty declined 47.30 points or 0.22 per cent to settle at 21,731.40.
On Wednesday last week, India's benchmark indices kept their record-breaking run. This was boosted by a global rally on renewed optimism that the US central bank would start cutting rates by coming March, Reuters reported.
NSE Nifty 50 (.NSEI) and the S&P BSE Sensex (.BSESN) had reached all-time highs in the session and settled later 1% higher at 21,654.75 points and 0.98% higher at 72,038.43 points, respectively.
