Due to the sluggish condition of the rupee, and fluctuation in the Asian Markets, Share market is falling rapidly. On the first trading day of the week, the Sensex rose 18 points to 39,160, while the Nifty slipped by 26 points to 11,711.55. Sensex, after a few minutes of trading, dropped nearly 300 points and marked the level at 38,850, while the Nifty also declined by 90 points to trade at 11,660 level.
Fall in the Shares of Banking Sector
In the initial business, the banking sector shares trading on the red mark. The highest fall was recorded in Yes Bank. YES Bank's shares fell nearly 4 percent. IndusInd Bank, Kotak Bank, Axis Bank, and ICICI Bank were also trading with a fall. However, HDFC Bank's shares were trading up to 1 percent with an uptrend.
Let us tell you that HDFC Bank release financial results on Saturday. The net profit of the bank rose 23 percent to Rs 5,885.12 crore. Apart from this, the share of Reliance Industries and Bharti Airtel fell by more than 4 percent. Let us also remind you that on Friday the stock market was closed because of Good Friday.
Eye over This Week's Quarterly Results
This week, many major companies have released financial results. This week, Bharti Infratel and Ultratech Cement will announce the results of the January-March quarter on Wednesday (April 24th). On the other hand, Maruti Suzuki India will announce the results of the January-March quarter on Thursday (April 25).
Whereas, Axis Bank, Hero MotoCorp and Yes Bank will announce the results of January-March quarter on Friday (April 26). If we speak on the global front, the monetary policy review meeting of Bank of Japan and the Bank of Canada will be held on Thursday (April 25) and policy announcements will be made on this day on interest rates.
Rupee at 69.75 per dollar
On the first trading day of the week, the rupee fell 39 paise to 69.75 per dollar. Earlier on Thursday, the rupee closed at $ 69.36 per dollar. The rupee was 14 paise higher at 69.46 per dollar on Thursday.
