Monday, December 5, 2022
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Indian Stocks Open Weak, Rupee Steady In Opening Trade

New Delhi [India]: Trade in Indian indices BSE Sensex and Nifty was largely steady Friday morning. The Rupees also opened steady, but with risk of a downside in line with the global benchmark indices.

At the time of writing this report, Sensex traded at 61,570 points, down 0.28 per cent, whereas Nifty traded at 18,290 points, down 10.29 per cent.

Among the Nifty 50 stocks, Asian Paints, Axis Bank, Kotak Mahindra Bank, Infosys, and Cipla were the top five gainers, whereas Eicher Motors, Apollo Hospitals, Mahindra and Mahindra, Britannia, and Hero Motocorp the top losers, National Stock Exchange data showed.

“There are no major global or domestic triggers that can move the markets decisively as of now. Therefore, the market is likely to meander around the current levels…Also, there is no trigger to push the market decisively into sharp correction territory. The texture of the market continues to be Buy on Dips,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Meanwhile, the rupee opened at 81.57 against the US dollar as against the previous session’s close of 81.65.

The rupee has relatively strengthened in most of the recent sessions against the global benchmark dollar as the US dollar index has weakened substantially.



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