Stock Market Today Dec 04: The Indian stock market continued its downward trend for the second consecutive day. Pressured by a weakening rupee and persistent selling by foreign investors, the Indian stock market opened in the red again today. The benchmark Sensex started the day down 148 points, or 0.17 percent, at 84,958. The Nifty opened 33 points, or 0.13 percent, lower at 25,953.
Stock Market Today Dec 04
In early trading, the rupee hit a new record low of 90.56 against the US dollar, further increasing investor concerns. The continuous depreciation has been fuelled by persistent selling by foreign investors, strong demand for the dollar, and uncertainty surrounding India’s trade negotiations with the United States.
Top Gainers and Losers Shares Today
Most of the heavyweight stocks on the Sensex declined in morning session. HUL, Titan, Eicher Motors, ICICI Bank, Power Grid, Trent, UltraTech Cement, Bajaj Finserv, Tata Motors PV, NTPC, Bajaj Finance, and HDFC Bank were among the major losers. Only a few large-cap stocks remained in the green. Supported by a strong dollar, IT giants TCS, HCL Tech, Infosys, and Tech Mahindra were among the top gainers. Shares of Asian Paints and Bharti Airtel also opened with slight gains.
Share Market Down Fall Reason
In the broader market, sentiment was mixed. Nifty Midcap index rose 0.17 percent, indicating some resilience, while the Nifty Small cap index fell 0.07 percent. Market participants say the recent pressure on equity markets is linked to the sharp decline in the rupee. After breaching the 90 rupees per dollar level on Wednesday, the currency’s depreciation has become a major concern for investors, raising worries about imported inflation and increasing costs for companies reliant on foreign supplies.
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