Sensex, Nifty witness major decline; crude oil prices rise; rupee hits record low, check updates
The stock market is witnessing a major decline today, March 23. The Sensex is trading at 72,900, down by approximately 1,600 points. The downturn in US and Asian markets is impacting India.
The Nifty has also dropped by about 500 points and is trading at the 22,650 level. Banking, Auto, FMCG, and IT stocks are seeing the sharpest declines on Saturday. All 30 stocks comprising the Sensex are trading lower today.
About 592 shares advanced, 2,990 shares declined, and 153 shares were unchanged.
Crude Oil Prices Rise
Amidst the ongoing conflict involving the US, Israel, and Iran, crude oil prices are witnessing a surge today. Supply chains have been disrupted due to the conflict involving the US, Israel, and Iran.
Brent crude futures fell 1 cent to $112.18 a barrel, up by over 1%. Meanwhile, the price of the Indian Basket has reached $156 per barrel.
Rupee Hits Record Low
Amidst the ongoing conflict involving Iran in the Gulf region, the Rupee hit an all-time low against the US Dollar as soon as the markets opened today, Friday. The Rupee depreciated by 33 paise against the Dollar, falling to the level of 93.86.
Foreign Institutional Investors (FIIs) engaged in net selling worth Rs 5,518 crore on March 20. During the same period, Domestic Institutional Investors (DIIs) made purchases totaling Rs 5,706 crore. So far in March, FIIs have withdrawn Rs 86,780 crore, while DIIs have made purchases amounting to Rs 1,01,168 crore.