The Indian stock market opened on a weak note today, with both the Sensex and Nifty facing steep declines. As trading began, the Sensex dropped by 843.67 points, reaching 76,535.24, while the Nifty fell by 258.80 points, trading at 23,172.70. The losses in the domestic markets were significant, signaling a challenging start to the week.
In a parallel development, the Indian rupee weakened against the US dollar, hitting a new all-time low. The rupee depreciated by 23 paise, reaching a low of 86.27, a level not seen before. This sharp decline in the rupee has raised concerns among market participants and investors.
According to stock market data, foreign institutional investors (FIIs) played a key role in the market downturn. On Friday, FIIs were net sellers, offloading shares worth ₹2,254.68 crore. This large sell-off by foreign investors has contributed to the downward pressure on the stock market, particularly in sectors that are sensitive to foreign capital inflows.
The weakness in the domestic stock market and the rupee is a reflection of broader global uncertainties and challenges facing the Indian economy. Investors are keenly watching developments, and the upcoming days will likely provide more clarity on the direction of the markets.
Stay tuned for more updates on this developing situation.