The rupee notched up gains for a third straight session on Monday, rising further by 16 paise to settle at 75.90 (provisional) against the US dollar as easing crude oil prices revived an otherwise lacklustre sentiment.
NSE Nifty50 fell by 527.25 points or 3.10 per cent to 16,457.95 points.
The rupee on Tuesday declined by 10 paise to close at an 18-month low level of 75.88 against the US dollar due to persistent foreign fund outflows and concerns over inflation.
Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,044 points after closing at 17,176 on Tuesday.
"Both Sensex and Nifty closed with gains of over 1.5 per cent. Buying was witnessed in banking metals and auto stocks ahead of the RBI meeting on interest rates."
Equity benchmark Sensex tumbled over 300 points in early trade on Monday, tracking losses in index majors Infosys, HDFC Bank and ICICI Bank amid concerns over the spread of the Omicron variant in the country and weak cues from global markets.
The rupee on Tuesday pared its initial gains to settle 10 paise lower at 75.17 (provisional) against the US dollar as investor concerns grew over fresh impact of new COVID variant on the economy.
Asian markets were also down as investors continued to assess the risks to the economic recovery posed by the new COVID variant Omicron.
The rupee on Friday plunged by 37 paise against the US dollar as investors turned cautious in view of massive selloffs in domestic equities and worries over a new variant of COVID-19.
The rupee depreciated by 12 paise to end at 74.42 (provisional) against the US dollar on Monday, as massive sell-offs in domestic equities and a strong greenback in the overseas market weighed on investor sentiments.
Equity benchmark Sensex rallied 767 points on Friday on heavy buying in index majors Infosys, HDFC Bank and Reliance Industries amid a positive trend in global markets.
The rupee tumbled by 32 paise to end at 74.37 against the US currency on Wednesday, weighed down by a muted trend in domestic equities and strength of the American currency in the overseas market.
European markets opened weak even as the ECB decided to keep policy rates unchanged despite the inflationary pressure. US futures were trading in red following slow GDP growth and disappointing earnings from tech giants, he noted.
The rupee gained 11 paise to close at 74.92 (provisional) against the US dollar on Thursday despite massive sell-offs in the domestic equity market as easing crude oil prices lent some support to the local currency.
"Nifty could take further direction post European markets opening, but likely to end in the positive for the day."
L&T was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, HCL Tech, HUL, Axis Bank and Bharti Airtel.
Infosys was the top gainer in the Sensex pack, rising over 2 per cent, followed by Tata Steel, HDFC Bank, ICICI Bank, Titan and IndusInd Bank.
According to Gaurav Garg, Head of Research, CapitalVia Global Research: "We witnessed a correction in the market and an attempt to hold the level above the Nifty50 Index level of 17,600. Our research suggests that it is going to be crucial for the short-term market scenario to sustain above the 17,450-17,550 Nifty50 Index support zone."
Privatisation hopes on few metal names fuelled a 3 per cent upmove on the metal index even as select pharmaceutical and speciality chemical stocks saw good buying interest.
The Sensex opened at 58,889.77 points from its previous close of 59,126.36 points.
The BSE Sensex has boomed 135 per cent from the lows of 2020 lockdown and has scaled the 60,000 mark. This could be enough for some investors to cash-out by booking profits and tempting for others to jump into the bandwagon.
The broader NSE Nifty50 traded above the 17,900-mark. It opened at 17,897.45 points from its previous close of 17,822.95 points.
The Indian stock market is witnessing a high level of volatility affected by global cues as markets all across showing weak trends.
Both key indices, S&P BSE Sensex and NSE Nifty50, made new record highs. The Sensex crossed the 59,500 mark, while Nifty breached the 17,700 level.
The broader NSE Nifty climbed 54.20 points or 0.31 per cent to its new closing record of 17,377.80, while international oil benchmark Brent crude rose 0.80 per cent to USD 72.03 per barrel.
The 30-share Sensex was trading 260.26 points or 0.45 per cent higher at 58,390.21, and Nifty advanced 75.75 points or 0.44 per cent to 17,399.35 in initial deals.
Titan was the top gainer in the Sensex pack, rising around 2 per cent, followed by Reliance Industries, Kotak Bank, SBI, NTPC and IndusInd Bank.
The top gainers on the Sensex were Bajaj Finserv, Bharti Airtel and Bajaj Finance.
Titan was the top gainer in the Sensex pack, rising over 2 per cent, followed by Bajaj Finance, Tata Steel, M&M, Maruti, L&T, Reliance Industries and HDFC.
All BSE sectoral indices closed in the green on Friday, led by capital goods (2.14 per cent), basic materials (1.69 per cent), industrials (1.58 per cent) and power (1.46 per cent).
NSE Nifty50 traded lower. It fell to 16,433.10, lower by 135.75 points or 0.82 per cent from its previous close.
The 30-share index rose 593.31 points or 1.08 per cent to its new all-time high of 55,437.29. It touched an intra-day record of 55,487.79. Meanwhile, the Indian rupee reversed all its intra-day losses to close almost flat at 74.24 (provisional) against the US dollar on Friday.
The 30-share index ended 125.13 points or 0.23 per cent higher at 54,402.85, while the broader NSE Nifty advanced 20.05 points or 0.12 per cent to 16,258.25. Meanwhile, the rupee opened at 74.21 against the American currency and slipped further to close at 74.26, registering a decline of 11 paise over its previous close.
On the domestic equity market front, the BSE Sensex ended 123.07 points or 0.23 per cent higher at 54,492.84, while the broader NSE Nifty advanced 35.80 points or 0.22 per cent to 16,294.60.
The 30-share BSE index fell 66.23 points or 0.13 per cent to close at 52,586.84, while the broader NSE Nifty dipped 15.40 points or 0.10 per cent to 15,763.05. meanwhile, gold on Friday gained Rs 294 to Rs 47,442 per 10 grams.
Amid a positive trend in global markets, Equity benchmark Sensex rallied over 500 points in early trade on Thursday.
The 30-share BSE Sensex ended 182.75 points or 0.35 per cent lower at 52,386.19. The broader NSE Nifty dropped 38.10 points or 0.24 per cent to close at 15,689.80. Meanwhile, gold tumbled Rs 451 to Rs 46,844 per 10 grams.
Equity benchmark Sensex slumped 486 points on Thursday. Meanwhile, gold was marginally up by Rs 9 to Rs 46,981 per 10 gram.
Market benchmarks closed modestly lower on Tuesday after two days of gains. Meanwhile, gold rose by Rs 389 to Rs 46,762 per 10 gram.
The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66. Similarly, the broader NSE Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.