The Indian stock market started with a downward trend on Wednesday amid slackness in global markets. Sensex and Nifty hit the red mark in the opening minutes of business. In the morning the Sensex came down to 37 thousand 600, while the Nifty was also seen trading below 11 thousand 100.
Although recovery was seen after some time, but it is minor. Tata Motors, Bajaj Auto, HCL, Tech Mahindra, Sun Pharma, Powergrid, Axis Bank and ITC were the biggest gainers in the early trade. Similarly, shares of Tata Steel, HUL, IndusInd Bank, Kotak Bank, Maruti and Bajaj Finance were seen trading on the red mark.
Share Market Rises for the Third Consecutive Day on Tuesday
Earlier on Tuesday, the domestic stock market recorded a spurt for the third consecutive day. At the end of trading, the Sensex closed up 147.15 points, or 0.39 percent, at 37,641.27. This is a three-week high. At the same time, the Nifty also rose by 47.50 points, or 0.43 percent, to the level of 11,105.35 points. During the trading, the Sensex hit a high of 37,731 and a low of 37,450. Explain that in three trading days, the Sensex has gained 1168 points, or 3.20 percent, while the Nifty has seen a gain of 364 points or 3.38 percent.
On Wednesday, the rupee opened 4 paise against the dollar in early trade. On Tuesday, the rupee jumped 54 paise to close at 71.48 against the US dollar. This is the biggest jump in rupee in five months. Earlier on March 18, 2019, there was such a big boom during the business. Although the yuan, the currency of China, has touched its 11-year low against the US currency. According to market experts, the recovery of rupees was seen by the RBI's decision to transfer funds of Rs 1.76 lakh crore to the government in the current financial year.
