Tuesday, August 3, 2021

Business Roundup: Sensex and Nifty post record highs; Rupee weakens slightly against US Dollar

At the domestic stock markets, key indices the Sensex and the Nifty posted record highs today, but the rupee weakened slightly against the US dollar. In the international markets, Brent crude traded just under USD 75 a barrel.

At the stock markets, the Sensex at the Bombay Stock Exchange rose 194 points, or 0.4 per cent, to end at an all time closing high of 53,055, today. The Nifty at the National Stock Exchange advanced 61 points, or 0.4 per cent, to end at a record high of 15,880.

At the domestic forex market, the Rupee weakened 7 paise, to Rs 74.62, against the US dollar.

Among global markets, key indices in Asia Pacific ended mostly higher. So Japan’s Nikkei-225 index dropped 1 per cent; Hong Kong’s Hang Seng index fell 0.4 per cent; South Korea’s Kospi index slipped 0.6 per cent and Singapore’s Straits Times index declined 1.5 per cent. But China’s Shanghai Composite index rose 0.7 per cent, on tech companies showing their strength.

In Europe, London’s FTSE-100 had gained 0.3 per cent; and Germany’s DAX had advanced 1 per cent but France’s CAC-40 had shed 0.1 per cent in intra-day trade.

After a sharp fall yesterday, global crude oil recovered today, with support coming from a tight market amid uncertainty about OPEC+ supply policy. So, Brent crude futures rose 32 cents, to trade at USD 74.85 a barrel. US crude futures climbed 38 cents, to USD 73.75 a barrel.

Back Home, gold shed Rs 29, to Rs 46,903 per ten grams at Delhi’s bullion market today.

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