Indian rupee ended 19 paise lower at 77.42 per dollar on Thursday versus Wednesday’s close of 77.23.
S Ranganathan, Head of Research at LKP securities:
Benchmark Indices wilted 2.5% in afternoon trade on the back of weak global cues as investors booked gains unable to set right the puzzle around Oil, War, Currency, Inflation & Interest rates.
Expectations of high CPI for April coupled with margin pressures seen in fourth quarter earnings is further accentuating the selling pressure in equities which was evident in the number of stocks hitting yearly lows today as the Sensex broke 53K with all sectoral indices ending deeply in the red.
With safe-heaven flows pushing the dollar index to twenty year highs, investors now seem to be pinning their hopes on a resolution to the conflict at the earliest.
Market Close: Benchmark indices continued the selling on the fifth consecutive session on May with Nifty finishing around 15800.
At close, the Sensex was down 1,158.08 points or 2.14% at 52,930.31, and the Nifty was down 359.10 points or 2.22% at 15, 808. About 747 shares have advanced, 2542 shares declined, and 84 shares are unchanged.
Adani Ports, IndusInd Bank, Tata Motors, Tata Steel and Hindalco Industries were among the top Nifty losers, while Wipro was the only gainer.
All the sectoral indices ended in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, realty indices down 1-4 percent.
Among broader indices, the BSE midcap and smallcap indices shed 2 percent each.
Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers:
Indian equity benchmarks opened in red following weak trade in Asian market peers as global stocks struggles for rebound after higher U.S. inflation report.
During the afternoon session markets further weakened dragged by Metal, Power and Utilities shares and ahead of domestic retail inflation numbers.
Traders were also cautious as reports cited the RBI could again hike rates in June policy meet to fight inflation pressures and shore up rupee.