Promoting continues within the inventory market; Sensex down 365 factors, RIL down 4%

The rupee plunged to an all-time low amid continued promoting by overseas traders, resulting in a sell-off of 4 per cent within the home markets final week. Weak international cues and a pointy fall in shares of index heavyweight Reliance Industries (RIL) dragged the market down after disappointing outcomes, whereas tech shares bounced again.

European and Asian shares traded weak on issues of world financial development amid rising inflation, financial tightness and a slowdown in China’s exports following the resurgence of Covid-19.

The Sensex fell 365 factors, or 0.67 per cent, to 54,471, its lowest since March 8. In intra-day commerce, the index fell 918 factors or 1.67 per cent to 53,918. The Nifty closed at 16,302, down 109 factors or 0.67 per cent, after falling at 16,142.

RIL shares fell 4 per cent and contributed 318 factors to the Sensex. IndusInd Financial institution and Nestle India fell round 3 per cent every. HCL Tech rose 2.4 per cent, Infosys 1.7 per cent and TCS 0.4 per cent.

Overseas traders bought shares price Rs 3,362 crore on Monday, whereas their home counterparts purchased shares price Rs 3,077 crore.

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