New Delhi: After two consecutive days of profitable assets, the Indian inventory index declined marginally in early trade on Tuesday, weighed by continued depreciation of the rupee. The rupee on Tuesday hit another all-time low and touched an important psychological level of 80 towards the US greenback. At 9.40 am, the Sensex was down 131.36 points or 0.24% at 54,389.79, while the Nifty was down 25.55 points or 0.16% at 16,252.95.
Of the 50 Nifty stocks, 29 are in green and the rest in red, confirmed Nationwide Inventory Alternate Data. The continuous fall in the value of rupee has had an impact on domestic stocks. ,Also read: RBI’s new order, you will not be able to withdraw more than 15,000 from this bank,
A depreciation within Rs. is often detrimental to foreign buyers. “We expect Re 1 to be volatile this week and will maintain its key support level of 80.5500 on a closed basis,” brokerage firm Prithvi Finmart said. ,Also read: Gold prices rise by Rs 110, confirm yellow steel prices in your city,
Additionally, reviews suggest that telephone and gadget maker Apple is planning to slow hiring and spending, with stocks in India and other Asian markets at risk of falling. “Asian stocks declined on Tuesday following a gradual hiring plan by Apple Inc,” said Deepak Jasani, Head of Retail Analysis, HDFC Securities.