Share Market Live Updates: Sensex, Nifty make gap down start (File Image)
Stock Market Live Updates: Indian equity benchmarks opened lower on Thursday (April 25), tracking weakness in global peers. NSE Nifty is trading below 22,400 while BSE Sensex is hovering around 73,600.
In the currency market, the Indian Rupee opened 3 paise lower to 83.36 against US dollar, in line with weakness witnessed by other Asian currencies.
The rupee has seen an uptick this week after slipping to an all-time low of 83.5750 on last Friday. The cooling off of the tension between Iran-Israel and inflows have helped the local currency recover.
“Think 83.25-83.55 is now the range (on USD/INR),” a FX trader at a bank said to Reuters. “You have two important U.S. data points lined up and then the Fed meeting next week. Heading into that, for me its difficult to pen where the balance of risks are.”
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Shares of banking major Kotak Mahindra Bank tumbled nearly 10 per cent after RBI banned the private lender from taking on new clients through online mode and to halt issue of fresh debit cards. The company’s shares dropped 9.7 per cent to 1,665 rupees in pre-open trade, their lowest since March 2023. The bank also played a crucial role in putting pressure on Nifty bank index, which is down 0.86 per cent.
US stock futures fell on Wednesday night after tech juggernaut Meta Platforms reported its latest quarterly results that fell short of Wall Street expectations.
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First uploaded on: 25-04-2024 at 09:29 IST
