Stock Market Update: In the last minutes of a tumultuous session, encouraging November services activity statistics helped Indian equities settle broadly flat.
The S&P BSE Sensex ended the day at 62834.60, down 0.05%. At 18701.05., the NSE Nifty 50 index finished 0.03% higher.
At one point during the session, both indices decreased by as much as 0.6%.
“The intraday trading recovery from lower levels may have been sparked by PMI data ” said Shrikant Chouhan, Kotak Services’ Head of Equity Research (Retail).
Rupee falls 47 paise to close at 81.80 against US dollar
The rupee lost some of its early gains on Monday, falling by 47 paisa to close at 81.80 (provisional) against the US dollar as a result of poor local markets and an increase in crude oil prices. Forex brokers claimed that a weak dollar on the international market protected the local currency from declines.
The local unit started out at 81.26 on the interbank foreign currency market, but it gave up its gains and finished at 81.80, down 47 paise from its previous closing.
The local unit recorded an intraday high of 81.25 and a low of 81.82 during the course of the day.
Stock Market Update: European shares slip
In cautious trading on Monday before of data on business activity, European shares declined amid worries about an EU economic slowdown.
Following protests against the nation’s strict “zero-COVID” policy, China loosened COVID-19 curbs. This, combined with reduced concerns about interest rate hikes, helped shares gain for a seventh consecutive week on Friday.
In cautious trading on Monday before of data on business activity, European shares declined amid worries about an EU economic slowdown.
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