Sunday, August 1, 2021

Business Roundup: Sensex and Nifty today fall around 1 per cent in sync with fall in global equity markets; Rupee weakens 9 paise against US currency

The Sensex and Nifty today fell around one per cent in sync with fall in the global equity markets. The BSE Sensex ended below 52,600 while the NSE Nifty finished below 15,750 level. The Rupee weakened nine paise against the US Dollar.

The Sensex declined 486 points, or 0.92 per cent, to close at 52,569. The NSE Nifty also slipped 152 points, or 0.96 per cent, to settle at 15,728.

In global equity markets, Asian stocks fell to a six-week low. Hong Kong’s Hang Seng tumbled 2.9 per cent, Singapore’s Straits Times declined 1.1 per cent and South Korea’s KOSPI plunged one per cent. Japan’s Nikkei-225 declined 0.9 per cent and China’s Shanghai Composite Index fell 0.8 per cent. European shares were also down in intra day trade amid worries on economic recovery.

Oil prices fell for the third day in a row amid uncertainty over supply after the collapse this week of talks among major producers. In intra-day trade, Brent crude prices were trading around USD 73.10 per barrel.

Back Home, Gold prices today climbed around Rs 290 at Multi Commodity Exchange for August contracts amid gains in gold prices in the international markets. Gold was trading at Rs 48,200 per 10 gram. Silver prices also surged around Rs 160 to trade at Rs 69,525 per kilogram for July Contracts when reports last came in.

The Rupee today weakened nine paise to close at Rs 74.71 against the US Dollar.

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