INSUBCONTINENT EXCLUSIVE:
The Sensex and Nifty hadgained about 2.5 per cent and 3 per cent respectively over last four sessionsThe domestic stock markets remained
under pressure in noon trading, seeming on course to snap a four-session rally, on the back of weakness in metal and financial shares
At 1:35 pm, the BSE Sensex was trading at 49,029.65, weaker by 470.31 points or 0.96 per cent and the NSE Nifty was at 14,808.25, down
134.75 points or 0.89 per cent
The broader markets are out-performing their largecap peers, with the BSE Midcap index and BSE Smallcap index gaining 0.1 per cent and 0.6
per cent respectively.The Nifty Metal index has dropped 3 per cent post a four-day rally to record highs and the Nifty Bank index slid 1.6
and on pandemic relief measures.Meanwhile, the rupee slumped 18 paise to 73.53 against the US dollar in early trading tracking weak domestic
equities and strong American currency
At the interbank foreign exchange, the domestic unit opened lower at 73.47 against the dollar, and lost further ground and touched 73.53,
registering a fall of 18 paise over its previous close
On Monday, the rupee had closed at 73.35 against the US dollar.On the earnings front, Siemens, BASF India and Godrej Consumer Products will
declare their earnings during the day.On the stock-specific front, metal shares are trading weak this afternoon with Hindalco and JSW Steel
shedding around 2 per cent each on the BSE
Select financials are also trading weak, with HDFC, Kotak Mahindra Bank and Axis Bank losing between 1 and 2 per Cent each on the BSE.On the
other hand, Coal India, IOC and NTPC have gained 2-4 per cent each on the BSE
plans to raise Rs 3,000 crore.
