Home » business » Markets » Sensex Gains 108 pts At Close, Nifty Tops 18,400; Adani Group Stocks Tumble
2-MIN READ

Sensex Gains 108 pts At Close, Nifty Tops 18,400; Adani Group Stocks Tumble

By: Aparna Deb

News18.com

Last Updated: November 16, 2022, 15:48 IST

New Delhi, India

Markets today

Markets today

Sensex Today: The Sensex and Nifty benchmark indices opened flat on mixed global cues.

Sensex Today: The key benchmark indices swung between zones as investors turned cautious with the indices nearing life-time highs. The sentiment was also dented following reports of a missile strike on Poland. Earlier reports suggested that it could have been a Russian fired missile, but later in the day US officials suggested that the missile may have fired by Ukrainian forces at an incoming Russian missile.

Back to the markets, the S&P BSE Sensex topped the 62,000-mark for the first time in 13 months, as it scaled a high of 62,053. The 30-share benchmark finally ended with a gain of 108 points at 61,981. In the process, the Sensex is now just 264 points shy of its life-time high 62,245 touched on October 19, 2021.

The NSE Nifty touched a high of 18,442, and eventually settled seven points higher at 18,410.

Rupee

The Indian rupee weakened on Wednesday as sustained corporate demand pushed the US dollar up, while weakness in Asian stocks and currencies spilled over to domestic markets. The rupee declined 0.25% to 81.2975 per dollar. It has shed nearly a percent from its high of 80.51 on Monday, with volatility gripping markets this week. There is a huge cash dollar demand in both the spot and forwards markets, a trader with a private said, adding that foreign banks are likely buying on behalf of their importer clients. A decline in USD/INR forward premiums made it attractive for importers to hedge, leading to more dollar outflows. The cost of hedging 6-month dollar was down 25 basis points this week.

Global Cues

Reports of civilian killings in Polland from Russian missiles has weakened global sentiment. The missile reportedly struck eastern Poland late Tuesday killing two people. The polish government later said it was an isolated incident.

As per reports, US President Biden has called an ’emergency’ meeting with the G7 and NATO leaders following the incident.

Asian markets fell in early morning trade today with the Nikkei, Hang Seng and Kospi falling 0.7-1.2 per cent.

Meanwhile, US equities had closed higher on Tuesday night after wholesale inflation inched 0.2 per cent up for October against an estimated 0.4 per cent increase.

The Dow gained 0.17 per cent, the S&P 500 and the Nasdaq advanced 0.87 per cent and 1.45 per cent, respectively.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read all the Latest Business News here

Tags:
  1. sensex
first published:November 16, 2022, 09:21 IST
last updated:November 16, 2022, 15:48 IST
Read More