At the closing bell, the 30-share BSE index was quoted 612.60 points or 1.24 per cent higher at 50,193.33.
Similarly, the broader NSE Nifty went past the psychological 15,000-level, and closed 184.95 points or 1.24 per cent higher at 15,108.10.
M&M was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.
Bharti Airtel, ITC, Dr Reddy's and SBI were the laggards.
"Domestic equities extended gains as early sign of decline in COVID-19 daily caseload and improving prospects of faster economic recovery emboldened investors," said Binod Modi, Head Strategy at Reliance Securities.
Strong cues from Asian markets also supported the rally, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note.
Stock exchanges in Europe were also trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.82 per cent higher at USD 70.03 per barrel.
Gold Gains Rs 333; Silver Rallies Rs 2,021
Gold in the national capital on Tuesday rose by Rs 333 to Rs 47,833 per 10 gram in line with a rally in the global precious metal, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,500 per 10 gram.
Silver also witnessed increased demand as it jumped Rs 2,021 to Rs 73,122 per kilogram from Rs 71,101 per kilogram in the previous trade.
In the international market, gold was trading in the green at USD 1,869 per ounce, while silver was trading flat at USD 28.48 per ounce.
"Gold prices were supported by weaker dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services said,
"Gold continued to inch higher breaching the 1,850 level, rising to their highest in more than three months as a weaker US dollar and growing inflationary pressure lifted bullion's appeal."
Indian Rupee Gains For 3rd Straight Session; Rises 17 Paise To 73.05 Against USD
The rupee strengthened for the third straight session on Tuesday and closed 17 paise higher at 73.05 (provisional) against the US dollar tracking positive domestic equities and weakening of the American currency in the overseas market.
At the interbank forex market, the rupee opened at 73.18 and hit an intra-day high of 72.95 and a low of 73.18 during the session.
The local unit finally settled at 73.05, registering a gain of 17 paise over its previous close. On Monday, the rupee had closed at 73.22 against the US dollar.
The domestic unit has appreciated 37 paise in the last three trading sessions.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.40 per cent to 89.80.
On the domestic equity market front, the BSE Sensex ended 612.60 points or 1.24 per cent higher at 50,193.33, while the broader NSE Nifty advanced 184.95 points or 1.24 per cent to 15,108.10.
Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 2,255.84 crore, as per exchange data.
Brent crude futures, the global oil benchmark, rose 0.86 per cent to USD 70.06 per barrel.
Meanwhile, India's COVID-19 death toll climbed to 2,78,719 with a record 4,329 fresh fatalities, while the single day rise in coronavirus cases stood at 2.63 lakh, the lowest in 28 days, according to the Union Health Ministry data updated on Tuesday.
At the closing bell, the 30-share BSE index quoted 295.94 points or 0.60 per cent higher at 49,502.41. Over the last four sessions, the Sensex has gained 1,248.90 points or 2.58 per cent.
Similarly, the broader NSE Nifty jumped 119.20 points or 0.80 per cent to 14,942.35 taking its total gains over the four days to 445.85 points or 3.07 per cent.
On Monday, L&T was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Dr Reddy's, Sun Pharma, NTPC, PowerGrid, IndusInd Bank, ONGC and M&M.
On the other hand, UltraTech Cement, Infosys, Reliance Industries, HCL Tech and Axis Bank were five losers among the 30 shares.
Sectorally, BSE metal, capital goods, healthcare, power, utilities and industrials indices rose up to 3.53 per cent, while IT was in the red.
Broader midcap and smallcap indices rallied up to 0.97 per cent.
"Domestic equities continued to defy concerns of rising COVID-19 cases and extended mobility restrictions by several states by extending gains for the fourth consecutive trading day," said Binod Modi Head-Strategy at Reliance Securities.
Favourable global cues, steady March quarter earnings along with favourable commentary, liquidity support announced by the RBI and absence of nationwide lockdown have aided domestic equities to shrug off rising COVID-19 cases in the country, he further noted.
Vinod Nair, Head of Research at Geojit Financial Services, said, "Domestic bourses continued to ride on its optimistic wave mirroring strong across-the-board buying with metals, auto and pharma stocks leading the rally."
Elsewhere in Asia, bourses in Shanghai, Tokyo and Seoul ended on a positive note, while Hong Kong was in the red.
Stock exchanges in Europe were largely trading with losses in mid-session deals.
Gold Gains Rs 179; Silver Up By Rs 826
Gold in the national capital on Monday rose by Rs 179 to Rs 47,452 per 10 gram helped by strong buying in the global precious metal, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,273 per 10 gram.
Silver also jumped Rs 826 to Rs 71,541 per kg, from Rs 70,715 per kg in the previous trade.
In the international market, gold was trading with gains at USD 1,836 per ounce and silver was flat at USD 27.65 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded higher on weaker dollar and fall in the US bond yields."
Rupee Settles 16 Paise Higher At 73.35 Against Dollar; Rises For 3rd Session
The rupee rose by 16 paise to close at 73.35 (provisional) against the US dollar on Monday, marking its third straight session of gains on the back of positive domestic equities and weak American currency.
At the interbank forex market, the rupee opened at 73.34 and hit an intra-day high of 73.33 and a low of 73.48.
The local unit finally settled at 73.35, registering a gain of 16 paise over its previous close. On Friday, the rupee had settled at 73.51 against the American currency.
The rupee has strengthened by 56 paise in the three sessions to Monday.
"The Indian rupee appreciated amid weakness in dollar and rise in risk appetite in the global markets. Markets sentiments improved on speculation that US Federal Reserve will maintain its ultra low interest rates for quite some time," said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
However, sharp gains were prevented on surge in crude oil prices and FII outflows.
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 1,142.75 crore, as per exchange data.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 90.15.
On the domestic equity market front, the BSE Sensex ended 295.94 points or 0.60 per cent higher at 49,502.41, while the broader NSE Nifty advanced 119.20 points or 0.8 per cent to 14,942.35.
Rupee may slip on concern that rising COVID-19 cases in India and lockdown restriction in some states may hurt economic recovery. Traders fear that worsening situation in India may put pressure on central government to announce nationwide lockdown for few days to curb outbreak, Mukadam said.
After recording over four lakh fresh cases for four consecutive days, India witnessed a single-day rise of 3,66,161 COVID-19 cases on Monday, which pushed its tally to 2,26,62,575, according to the health ministry.
Brent crude futures, the global oil benchmark, rose 0.51 per cent to USD 68.63 per barrel.
The 30-share BSE index jumped 424.04 points or 0.88 per cent to close at 48,677.55.
Similarly, the broader NSE Nifty surged 121.35 points or 0.84 per cent to 14,617.85.
Sun Pharma was the top gainer in the Sensex pack, soaring around 6 per cent, followed by Kotak Bank, Axis Bank, IndusInd Bank, ICICI Bank, Dr Reddy’s, Titan and TCS.
On the other hand, Bajaj Finance, Asian Paints and HUL were the laggards.
“Domestic equities rebounded mainly supported by financials, IT and pharma. Notably, announcement of liquidity supports by the RBI’s Governor to tackle the challenges coming from second wave of COVID-19 crisis aided financials to rebound,” said Binod Modi, Head Strategy at Reliance Securities.
Earlier in the day, Reserve Bank Governor Shaktikanta Das announced a slew of support measures to help cushion the economic blow of the second wave of the COVID-19 pandemic.
RBI has allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure.
Barring FMCG, most key sectoral indices traded in green.
While elevated COVID-19 cases in several states and rising number of deaths are matters of concern, visible modest decline in new cases in many states including Maharashtra, Madhya Pradesh and Gujarat offers comfort, he said.
Elsewhere in Asia, bourses in Hong Kong ended on a negative note, while Seoul, Shanghai and Tokyo were closed for holidays.
Equities in Europe were trading with significant gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 1.34 per cent higher at USD 69.80 per barrel.
Gold dipped Rs 317 to Rs 46,382 per 10 grams in the national capital on Wednesday, in line with a decline in the yellow metal’s prices overseas, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,699 per 10 grams.
In contrast, silver jumped Rs 2,328 to Rs 70,270 per kilogram from Rs 67,942 in the previous trade.
In the international market, gold was trading marginally lower at USD 1,776 per ounce and silver was flat at USD 26.42 per ounce.
“Gold prices traded under pressure over stronger dollar and rise in US bond yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
The rupee snapped its two-day winning streak and closed 6 paise lower at 73.91 (provisional) against the US dollar on Wednesday.
At the interbank foreign exchange market, the domestic unit opened higher at 73.80, but failed to maintain the gains and fell to 74.04 before ending at 73.91, a loss of 6 paise over its previous close.
On Tuesday, the rupee had settled at 73.85 against the American currency. The domestic currency had gained 24 paise in the previous two days.
It hovered in a range of 73.80 and 74.04 per dollar during the day.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.02 per cent to 91.30.
A record 3,780 fresh COVID-19 fatalities were registered in a single day in India taking the death toll to 2,26,188, while 3,82,315 new coronavirus infections were recorded, according to the Union Health Ministry data updated on Wednesday.
The rally in domestic equities restricted the fall in the rupee, a forex dealer said.
(This story is a compilation of 3 PTI stories)
Similarly, silver prices increased by Rs 130 to Rs 38,220 per kg on account of increased offtake by industrial units and coin makers.
Traders said positive global market and demand from local jewellers pushed the prices upwards.
In the international market, spot gold was trading up at USD 1,344.90 an ounce, while silver was up at USD 14.96 an ounce in New York.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 each to Rs 33,720 and Rs 33,550 per 10 gram, respectively.
Sovereign gold, however, remained unchanged at Rs 26,800 per eight gram as compared to the previous close.
Silver ready jumped by Rs 130 to Rs 38,220 per kg, while weekly-based delivery rose by Rs 140 to Rs 37,256 per kg.
Prices of silver coins saw no change and remained at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
The prices of yellow metal rose to Rs 34,020 per ten gram.
Tracking gold, silver too increased by Rs 710 to Rs 39,060 per kg on increased offtake by industrial units and coin makers.
Traders said apart from increased buying from jewellers, robust global trends where the precious metal surged to a five-year high also pushed the prices higher.
Globally, gold was trading higher at USD 1,385.54 an ounce in New York, while silver was up at USD 15.35 per ounce.
"Spot gold jumped to a five-year high of USD 1,386 an ounce on hopes that the US Federal Reserve would cut interest rates later this year. In the latest Fed policy meeting, the US central bank hinted an interest rate cut if the economic outlook weakens.
"Gold has been trading on a positive note for the last four weeks on growing geopolitical concerns and weak economic releases from US and China that lifted its safe haven appeal. Weak global growth forecast amid growing trade war tensions also stoked investors towards the yellow metal. Similar sentiments has been seen in silver as well," said Hareesh V, Head-Commodity Research, Geojit Financial Services.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity zoomed Rs 280 each to Rs 34,020 and Rs 33,850 per 10 gram, respectively.
Sovereign gold, however, held steady at Rs 26,800 per eight gram.
Meanwhile, silver ready rose by Rs 710 to Rs 39,060 per kg, while weekly-based delivery gained Rs 742 to Rs 38,044 per kg.
Price of silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
Globally, gold was trading lower at USD 1,403.72 an ounce, while silver was quoting lower at USD 15.20 an ounce in New York.
"Gold prices eased down to USD 1,401 an ounce from a six-year high in the international market due to a steady dollar and profit booking at higher levels. Investors are also cautious on U.S-China trade developments at G20 meet later this week in Japan," said Hareesh V, Head-Commodity Research, Geojit Financial Services.
Growing tensions in the Middle East and dovish comments from major central banks had boosted the yellow metal's safe haven appeal earlier, he added.
In the national capital, silver gained Rs 50 to Rs 38,750 per kg on higher offtake by industrial units.
Gold of 99.9 per cent and 99.5 per cent purity jumped by Rs 180 each to Rs 34,350 and Rs 34,180 per 10 gram, respectively.
Sovereign gold held steady at Rs 26,800 per eight gram.
Gold had plunged by Rs 300 on Wednesday.
Meanwhile, silver ready prices rose by Rs 50 to Rs 38,750 kg, while weekly-based delivery dropped by Rs 130 to Rs 37,604 per kg.
On the other hand, silver coins faced some pressure and fell by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
The government proposed to increase custom duty on gold and other precious metals to 12.5 per cent, a move which would make the yellow metal and jewellery expensive in the domestic market.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged by Rs 590 each to Rs 34,800 and Rs 34,630 per 10 gram, respectively, according to the All India Sarafa Association.
"The increase of custom duty has led to rise in gold prices and it will have no impact on consumption of gold," said Surendra Jain, Vice President of All India Sarafa Association.
Sovereign gold also rose by Rs 200 to Rs 27,000 per eight gram.
Globally, gold was trading steady at USD 1,413 an ounce in New York, while silver was quoting lower at USD 15.22 an ounce.
In the national capital, silver ready prices declined by Rs 80 to Rs 38,500 per kg, while weekly-based delivery gained Rs 75 to Rs 37,225 per kg.
Prices of silver coins held flat at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
Silver also followed the suit and jumped by Rs 355 to Rs 39,530 per kg on increased offtake by industrial units and coin makers.
According to traders, gold prices saw an uptrend due to rise in demand from local jewellers.
Globally, spot gold was trading almost flat at USD 1,415.80 an ounce, while silver was up at USD 15.50 an ounce in New York.
According to the All India Sarafa Association, gold of 99.9 per cent and 99.5 per cent purity gained Rs 100 to Rs 35,570 and Rs 35,400 per 10 gram, respectively, in the national capital.
Sovereign gold held steady at Rs 27,400 per eight gram.
On Monday, the precious metal declined by Rs 100.
Silver ready surged Rs 355 to Rs 39,530 per kg and weekly-based delivery jumped Rs 310 to Rs 38,710 per kg.
Prices of silver coins held flat at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.
Despite gold losing steam overseas, the precious metal saw upward trend due to rise in domestic demand, traders said.
Globally, spot gold was trading lower at USD 1,422 an ounce in New York, while silver was up at USD 16.17 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 170 to Rs 35,670 and Rs 35,500 per 10 gram, respectively.
Sovereign gold held steady at Rs 27,400 per eight gram.
On Wednesday, the precious metal declined by Rs 70 to Rs 35,500 per 10 gram, while silver was up by Rs 660 to Rs 40,190 per kg.
Silver ready Thursday jumped Rs 910 to Rs 41,100 per kg, while weekly-based delivery surged Rs 1,009 to Rs 40,406 per kg.
Price of silver coins held flat at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.
Silver also followed the suit and gained Rs 260 to Rs 41,960 per kg due to fresh buying from industrial units and coin makers.
"Today's (Monday) gold price of Rs 35,970 per 10 gram is the highest till date," said Surendra Jain, vice-president of All India Sarafa Association.
Traders attributed the rise in gold prices to strong demand from local jewellers. Besides, the decline in equity markets also aided the rally in the precious metal as investors moved towards safe-haven assets like gold.
Globally, spot gold was trading almost flat at USD 1,425.60 an ounce, while silver quoting higher at USD 16.40 per ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 100 each to Rs 35,970 and Rs 35,800 per 10 gram, respectively.
Sovereign gold also advanced by Rs 100 to Rs 27,500 per eight gram.
On Saturday, gold had declined by Rs 80 to Rs 35,870 per 10 gram.
Silver ready rose Rs 260 to Rs 41,960 per kg, while weekly-based delivery climbed Rs 391 to Rs 41,073 per kg.
Price of silver coins held flat at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.
Silver declined marginally by Rs 10 to Rs 41,950 per kg on reduced offtake by industrial units and coin makers.
Trading sentiment turned bearish after gold declined in overseas markets as a strengthening US dollar reduced the demand for the precious metal as an alternative investment, traders said.
Besides, lacklustre demand from jewellers also weighed on gold prices, they added.
Globally, spot gold was trading lower at USD 1,418.20 an ounce in New York, while silver was up at USD 16.47 an ounce.
"Gold prices witnessed decline after dollar index gained strength ahead of ECB meeting and US Debt ceiling deal," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 250 each to Rs 35,720 and Rs 35,550 per 10 gram, respectively.
Sovereign gold also declined by Rs 100 to Rs 27,400 per eight gram.
On Monday, gold prices touched an all-time high of Rs 35,970 per 10 gram.
Silver ready dropped Rs 10 to Rs 41,950 per kg, while weekly-based delivery fell Rs 38 to Rs 41,035 per kg.
Price of silver coins held flat at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.
Silver also declined by Rs 150 to Rs 42,150 per kg due to reduced offtake by industrial units and coin makers.
Weak demand from local jewellers led to a decline in gold prices though positive global trend capped the fall, traders said.
Globally, spot gold was trading marginally up at USD 1,418.80 an ounce in New York as investors remained cautious ahead of US Federal Open Market Committee (FOMC) meeting on July 31.
Silver was trading higher at USD 16.51 an ounce.
"Gold prices are currently witnessing range-bound trading weighed by optimism over US-China trade talks and a stronger dollar. We can expect speculation over the US Fed rate cut from the US GDP data to be released on Friday," said HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined Rs 140 each to Rs 35,730 per 10 grams and Rs 35,560 per 10 grams, respectively.
Sovereign gold held steady at Rs 27,500 per eight grams.
Silver ready plunged by Rs 150 to Rs 42,150 per kg and weekly-based delivery was plummeted Rs 287 to Rs 41,271 per kg.
Price of silver coins held flat at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
Silver also ended lower by Rs 100 to Rs 41,900 per kg due to reduced offtake by industrial units and coin makers.
Globally, spot gold traded flat at USD 1,419.40 an ounce, while silver was marginally trading lower at USD 16.44 an ounce in New York.
In the international market, the gold prices were ruling flat as investors are waiting for the outcomes of the US Federal Open Market Committee's (FOMC) meeting scheduled for July 30-31 for further cues, analysts said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined Rs 50 each to Rs 35,720 per 10 grams and Rs 35,550 per 10 grams, respectively.
Sovereign gold held steady at Rs 27,500 per eight grams.
On Saturday, gold had risen Rs 40 to Rs 35,770 per 10 gram, while silver had declined by Rs 150 to Rs 42,000 per kg.
Meanwhile silver ready Monday fell Rs 100 to Rs 41,900 per kg and weekly-based delivery was advanced Rs 34 to Rs 41,186 per kg.
Silver coins traded lower by Rs 1,000 at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces, respectively.
Silver also firmed up by Rs 150 to Rs 42,050 per kg on increased offtake by by industrial units and coin makers.
Bullion traders said the pick-up in demand helped the rally in the precious metal.
Globally, gold was trading flat at USD 1,427.60 an ounce in New York, as investors were cautious ahead of crucial trade talks between the US and China.
The investors are also awaiting the outcome of the US Federal Reserve's meeting for further signals.
Meanwhile, silver globally also witnessed lack of movement and was trading steady at USD 16.54 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose Rs 160 each to Rs 35,880 per 10 grams and Rs 35,710 per 10 grams, respectively.
Sovereign gold held steady at Rs 27,500 per eight grams.
Silver ready gained Rs 150 to Rs 42,050 per kg and weekly-based delivery was advanced Rs 53 to Rs 41,239 per kg.
Silver coins were in good demand and traded higher by Rs 1,000 at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces, respectively.
Tracking gold, silver also declined by Rs 80 to Rs 43,020 per kg on reduced offtake by industrial units and coin makers.
Traders said easing demand from local jewellers amid sluggish global trend mainly weighed on gold prices.
Globally, gold was trading marginally lower at USD 1,462.50 in New York, while silver was quoting lower at USD 16.43 an ounce.
In the national capital, gold of 99.9 per cent declined Rs 163 to Rs 36,807, while that of 99.5 per cent purity dropped Rs 165 to Rs 36,635 per 10 gram.
Sovereign gold stood steady at Rs 27,600 per eight gram.
The precious metal had touched an all-time high of Rs 36,970 per 10 gram on Monday.
Meanwhile, silver ready slumped Rs 80 to 43,020 per kg on Tuesday, while weekly-based delivery declined Rs 112 to Rs 42,291 per kg.
Price of silver coins held flat at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
Besides increased offtake by industrial units and coin makers, robust global trend mainly led to the rise in white metal, traders said.
"At Rs 45,000, silver has touched its all time-high. Strong overseas trend led to the increase in silver price," Surendra Jain, vice president of All India Sarafa Association said.
Globally, gold was trading higher at USD 1,520.37 an ounce in the New York, while silver was quoting higher at USD 17.32 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined Rs 100 to Rs 38,370 and Rs 38,200 per 10 gram, respectively.
Sovereign gold gained Rs 200 to Rs 28,800 per eight gram.
On Monday, gold had retouched its all-time high mark of Rs 38,470 per 10 gram.
Meanwhile, silver ready soared Rs 2,000 to Rs 45,000 per kg on Tuesday, while weekly-based delivery surged Rs 956 at Rs 44,280 per kg.
Silver coins were in good demand and traded higher by Rs 1,000 at Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.
Gold had reached its all-time high mark of Rs 38,670 on Saturday.
Silver also fell by Rs 50 to Rs 45,000 per kg due to reduced offtake by industrial units and coin makers.
Traders said easing demand from local jewellers amid weak global trend mainly weighed on gold prices.
Globally, spot gold was trading 0.98 per cent lower at USD 1,499 an ounce in New York, while silver was down 0.18 per cent to USD 17.00 an ounce.
Gold witnessed selling on positive market sentiment as the rise in global equity indices underpinned demand for safe haven assets, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Global equity markets traded firm as Germany and China signalled stimulus measures to support economic recovery, he added.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity reduced Rs 100 to Rs 38,570 and Rs 38,400 per 10 gram, respectively.
Sovereign gold held steady at 28,800 per eight gram.
On Saturday, gold had risen by Rs 250 to Rs 38,670 per 10 gram, while silver gained Rs 362 to Rs 45,050 per kg.
Meanwhile, silver ready dropped by Rs 50 to 45,000 per kg on Monday, while weekly-based delivery fell Rs 289 to Rs 43,535 per kg.
Price of silver coins held flat at Rs 91,000 for buying and Rs 92,000 for selling of 100 pieces.
Silver, however, plunged Rs 1,100 to Rs 43,900 per kg on reduced offtake by industrial units and coin makers.
Despite weak trend overseas, the precious metal gained in the domestic spot market mainly on increase in demand from jewellers, traders said.
Besides, a weaker rupee also supported the surge in the yellow metal, they added.
"Globally, spot gold held steady near USD 1,500 an ounce weighed down by a strong US dollar and higher level profit-booking. However, traders remain cautious on taking big positions ahead of the key economic events like the US Federal Reserve's July meeting minutes and Jackson Hole seminar later this week," said Hareesh V, head (commodity research), Geojit Financial Services.
The US Federal Reserve will kick off its annual Economic Policy Symposium later this week in Jackson Hole, Wyoming, where its chair Jerome Powell is expected to speak on Friday.
He further added that the meeting is expected to offer cues on further interest rate cuts that may influence the trend of the yellow metal. "At the same time, domestic gold prices edged higher to due to a weak Indian rupee".
Meanwhile, in the international market, spot gold was trading lower at 1,496.60 an ounce in New York and silver was down at USD 16.93 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 200 to Rs 38,770 and Rs 38,600 per 10 gram, respectively.
The precious metal had touched its previous all-time high of Rs 38,670 per 10 gram on Saturday.
Sovereign gold on Tuesday, however, dropped Rs 200 to 28,600 per eight grams.
Silver ready plunged Rs 1,100 to 43,900 per kg, while weekly-based delivery fell Rs 113 to Rs 43,422 per kg.
Silver coins traded lower and dropped by Rs 2,000 to Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.
The 30-share BSE index ended 508.06 points or 1.06 per cent higher at 48,386.51.
Similarly, the broader NSE Nifty jumped 143.65 points or 1 per cent to 14,485.
Axis Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by ICICI Bank, UltraTech Cement, HUL, SBI, PowerGrid, Bajaj Auto and Reliance Industries.
On the other hand, HCL Tech, HDFC Bank, Maruti, Sun Pharma and TCS were among the laggards.
“Domestic equities shrugged off rising COVID-19 cases and rebounded mainly led by sharp recovery in financials,” said Binod Modi, Head Strategy at Reliance Securities.
Barring pharma, most of key sectoral indices traded in green. Strong March quarter performance led ICICI Bank to recovery sharply, while HCL Technologies witnessed sell-off due to subdued 4Q performance, he added.
With 3,52,991 people testing positive for coronavirus infection in a day, the highest so far, India’s total tally of COVID-19 cases has climbed to 1,73,13,163 while active cases have crossed the 28-lakh mark, according to the Union Health Ministry data updated on Monday.
Elsewhere in Asia, bourses in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul were in the positive terrain.
Stock exchanges in Europe were largely trading with losses in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 1.74 per cent lower at USD 64.28 per barrel.
Gold prices in the national capital on Monday fell Rs 81 to Rs 46,976 per 10 gram due to rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,057 per 10 gram.
Silver also dipped Rs 984 to Rs 67,987 per kg, from Rs 68,971 per kg in the previous trade.
The rupee advanced by 24 paise to 74.77 against the US dollar in opening trade on Monday.
In the international market, gold was quoting marginally higher at USD 1,779 per ounce and silver was flat at USD 26.02 per ounce.
“Gold prices were supported by weaker dollar and pandemic worries,” said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
Rupee Recovers 28 Paise To Close At 74.73 Against US Dollar
The rupee strengthened by 28 paise to close at 74.73 (provisional) against the US dollar on Monday, supported by positive domestic equities and weakness in the American currency in global markets.
At the interbank forex market, the local unit opened at 74.81 against the greenback and witnessed an intra-day high of 74.67 and a low of 74.88.
It finally ended at 74.73 against the American currency, registering a rise of 28 paise over its previous closing. On Friday, the rupee had settled at 75.01 against the American currency.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.08 per cent to 90.78.
“The Indian Rupee appreciated amid weakness in dollar and rise in risk appetite in the global markets. Markets sentiments improved as recent manufacturing and services PMI data across major countries in world showed expansion in activity signalling economic recovery from the pandemic,” said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
However, sharp gains were prevented on FII outflows and on concern that rising COVID-19 cases in India and lockdown restriction in some states may hurt economic recovery, Mukadam added.
The rupee may trade in the range of 74.30 to 75.50 in next couple of sessions, he said.
Meanwhile, Brent crude futures, the global oil benchmark, fell 1.86 per cent to USD 64.88 per barrel.
On the domestic equity market front, the BSE Sensex ended 508.06 points or 1.06 per cent higher at 48,386.51, while the broader NSE Nifty advanced 143.65 points or 1 per cent to 14,485.00.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,360.76 crore on Friday, according to exchange data.
(This Story Is A Compilation of 3 PTI Stories)
Silver prices also maintained the rising trend and zoomed Rs 2,070 to Rs 50,125 per kilogram.
Gold prices for 24 karat rose to Rs 39,248 per 10 gram from the previous close of Rs 39,126 per 10 gram on Tuesday.
Tracking firm trends in the domestic market, silver prices also jumped to Rs 50,125 per kg from the previous close of Rs 48,055 per kg on Tuesday.
"Spot gold prices in Delhi were quoting higher in morning by Rs 122 with overnight rally in global gold prices," Tapan Patel, Senior Analyst (Commodities), HDFC Securities said.
In the international market, gold prices were fell to USD 1,537 an ounce in New York while silver quoted marginally higher at USD 19.27 an ounce.
Likewise, silver also fell Rs 290 to Rs 48,028 per kilogram from Monday's closing price of Rs 48,318 per kilogram, it said.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices for 24 Karat in Delhi was trading down by Rs 150 due to weak spot demand despite fall in rupee.
On Monday, gold prices closed at Rs 39,055 per 10 gram in the national capital.
In the international market, gold was trading lower at USD 1,497 an ounce in New York and silver was also quoting down at USD 17.81 per ounce.
"International gold prices pared previous gains after rallying on geopolitical risk. Gold prices have maintained the narrow trading range awaiting development from US-China trade talks and US FOMC rate decision," he added.
Meanwhile, the rupee fell 28 paise to 71.88 against the US dollar in early trade on Tuesday.
Prices of silver also tumbled Rs 380 to Rs 47,310 per kilogram here. In the previous trade, silver closed at Rs 47,690 per kilogram.
On Wednesday, gold had closed at Rs 38,724 per 10 gram.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices in India extended losses with prices for 24 Karat in Delhi dropping Rs 270 on stronger rupee and overall weak investment sentiment in gold.
The spot rupee recovered from morning losses and was trading 14 paise stronger against the dollar, he added.
The Indian rupee opened 24 paise down at 71.36 against the US dollar on Thursday.
In the international market, gold prices traded flat at USD 1,497 an ounce in New York and silver at USD 17.72 per ounce.
"Gold prices traded lower on Thursday with international spot gold prices trading below USD 1,500 per ounce to USD 1,497 an ounce after FOMC rate decision," Patel said.
Hareesh V, head (commodity research), Geojit Financial Services, said, "Spot gold held below USD 1,500 an ounce, as investors stayed away from taking fresh bets after the US Federal Reserve's policy meeting that has not given a clear picture on the central bank's policy outlook."
He further added that domestic gold and silver traded down due to weak international sentiments and a stronger rupee.
The Federal Open Market Committee (FOMC) lowered the policy interest rate by 25 bps to a target range of 1.75 to 2 per cent.
After a volatile session, the 30-share BSE index ended 202.22 points or 0.42 per cent lower at 47,878.45.
Similarly, the broader NSE Nifty dropped 64.80 points or 0.45 per cent to 14,341.35.
M&M was the top loser in the Sensex pack, shedding over 2 per cent, followed by Dr Reddy’s Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys.
On the other hand, PowerGrid, NTPC, IndusInd Bank, Axis Bank, HDFC and Asian Paints were among the gainers.
“It was a choppy trading day and benchmark indices fell sharply towards the final session of the market mainly led be selling pressure in across the sectors barring PSU Banks. Concerns of rising COVID-19 cases continued to weigh on investors sentiments,” said Binod Modi, Head Strategy at Reliance Securities.
According to Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities, Indian markets succumbed to FPI selling this week on account of the sharp rise in COVID-19 cases. FPIs have remained net sellers this week with the rupee sustaining at 75 levels against the USD.
“As India has become the epicentre of the virus resurgence, there is fear of potential earnings downgrades which could turn out to be higher in case of mid and small caps vis- -vis the large caps.
“Fresh lockdowns and restrictions being imposed by various state governments will impact demand and also business activity. The persistent rise in hard commodity prices is a threat which could weigh on margins of many manufacturing companies. Too many potential negatives have come together which could impact markets in the very near future,” he said.
India added a record over 3.32 lakh new coronavirus cases in a single day, taking the country’s tally to 1,62,63,695, while active cases crossed the 24-lakh mark, according to the Union Health Ministry data updated on Friday.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a positive note, while Tokyo was in the red.
Stock exchanges in Europe were trading with losses in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.06 per cent lower at USD 65.36 per barrel.
The price of gold was marginally lower by Rs 24 to Rs 47,273 per 10 gram in the national capital on Friday, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,297 per 10 gram.
Silver also declined Rs 909 to Rs 68,062 per kg, from Rs 68,971 per kg in the previous trade.
In the international market, gold was quoting marginally higher at USD 1,784 per ounce and silver was flat at USD 26.05 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded firm with spot gold prices at COMEX (New York-based commodities exchange) were trading at USD 1,784 per ounce on Friday. Gold prices held firm trading range recovering from Thursday’s lows.”
The rupee fell by 7 paise to close below the 75 mark against the US dollar on Friday as a record spike in COVID-19 cases and losses in the domestic equities weighed on investor sentiment.
Forex traders said heavy selloff in domestic equities amid fears that a rapid resurgence of COVID-19 cases in the country can disrupt economic recovery kept investors on edge.
At the interbank forex market, the local unit opened lower at 75.02 against the previous close of 74.94 and traded in the range of 74.75 to 75.07 during the day.
The rupee finally ended at 75.01 against the US currency, registering a fall of 7 paise over its previous close.
“The second wave of COVID-19 in India is keeping market risk sentiment very light and the USDINR spot is afloat. So, the USDINR bulls will continue to be on driver’s seat, but we will only have to look for RBI intervention. We expect a broader USDINR range to be 74.50-75.50,” said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.
With a record single-day rise of 3,32,730 new coronavirus infections, India’s total tally of COVID-19 cases climbed to 1,62,63,695, while active cases crossed the 24-lakh mark, according to the Union Health Ministry data updated on Friday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.34 per cent to 91.02.
Brent crude futures, the global oil benchmark, were trading 0.06 per cent down at USD 65.36 per barrel.
On the domestic equity market front, the BSE Sensex ended 202.22 points or 0.42 per cent lower at 47,878.45, while the broader NSE Nifty declined 64.80 points or 0.45 per cent to 14,341.35.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they pulled out Rs 909.56 crore on Thursday, according to the provisional data.
(This Story Is A Compilation of 3 PTI Stories)
The benchmarks were propped up by bargain-hunting in select frontline counters as well as supportive global cues, traders said.
After skidding 501 points in the opening session, the 30-share BSE Sensex pared all losses to end 374.87 points or 0.79 per cent higher at 48,080.67.
Similarly, the broader NSE Nifty jumped 109.75 points or 0.77 per cent to finish at 14,406.15.
ICICI Bank was the top gainer in the Sensex pack, spurting 3.60 per cent, followed by HDFC, Bajaj Auto, HDFC Bank, SBI, Kotak Bank, Bajaj Finance and Axis Bank.
On the other hand, Titan, HUL, Asian Paints, Nestle India, UltraTech Cement and Tech Mahindra were among the laggards, shedding up to 2.75 per cent.
“A persistent rise in COVID-19 cases across the country and enhanced mobility restrictions imposed by number of states are expected to remain as key drags for the market in the near term. This has certainly started posing as a threat to corporate earnings recovery.
“Notably, possibility of supply disruption and increased COVID-19 cases in hinterland area can further hurt economic momentum. We believe market is expected to remain volatile until we see a reversal in COVID-19 cases,” said Binod Modi, Head – Strategy at Reliance Securities.
India registered over 3.14 lakh new coronavirus cases in a day, the highest-ever single-day count recorded in any country, taking the the total tally of COVID-19 cases in the country to 1,59,30,965, as per the Union Health Ministry data updated on Thursday.
The oxygen crisis, precipitated by the second wave which has left tens of thousands hospitalised, appeared to intensify with complaints of shortage from several states.
Sector-wise, BSE bankex, finance, metal, realty and basic materials indices rose up to 2.14 per cent, while consumer durables, FMCG, IT and teck closed lower.
Broader BSE midcap and smallcap indices rose up to 0.59 per cent.
Global markets were largely in the positive territory as investors monitored the vaccination progress and economic recovery in multiple countries, though the unabated rise in COVID-19 cases remained an overhang.
In Asia, bourses in Hong Kong, Seoul and Tokyo ended on a positive note, while Shanghai was in the red.
Bourses in Europe were trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.51 per cent lower at USD 64.99 per barrel.
The rupee weakened further by 6 paise to close at 74.94 against the US dollar as a persistent rise in COVID-19 cases and enhanced restrictions imposed by a number of states weighed on investor sentiment.
Gold dipped Rs 168 to Rs 47,450 per 10 gram in the national capital on Thursday in line with weaker global precious metal prices, according to HDFC Securities.
In the previous trade, it had closed at Rs 47,618 per 10 gram.
Silver, however, gained Rs 238 to Rs 69,117 per kg, from Rs 68,879 per kg in the previous trade.
In the international market, gold was quoting lower at USD 1,791 per ounce and silver was flat at USD 26.45 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded marginally down with spot gold prices at COMEX (New York-based commodities exchange) trading at USD 1,791 per ounce on Thursday.”
The rupee weakened further by 6 paise to close at 74.94 against the US dollar on Thursday as a persistent rise in COVID-19 cases and enhanced restrictions imposed by states weighed on investor sentiment.
Increased concerns over forex outflows weighed on the local unit, analysts said.
At the interbank forex market, the local unit opened sharply lower at 75.25 against the greenback and traded in the range of 74.82 to 75.26 during the day. On Tuesday, the rupee had settled down at 74.88 against the American currency.
Forex and equity markets were closed on Wednesday on account of ‘Ram Navami’.
Sriram Iyer, Senior Research Analyst at Reliance Securities, said that the rupee depreciated against the US Dollar as an alarming surge in coronavirus infections raised risks to the country’s near-term growth outlook and increased concerns about foreign fund outflows.
However, likely intervention from the Reserve Bank of India trimmed losses in the unit and kept volatility in check, Iyer added.
India registered over 3.14 lakh new coronavirus cases in a day, the highest-ever single-day count recorded in any country, taking the total tally of COVID-19 cases in the country to 1,59,30,965.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 91.09. Brent crude futures, the global oil benchmark, were trading 0.54 per cent down at USD 64.97 per barrel.
On the domestic equity market front, the BSE Sensex ended 374.87 points or 0.79 per cent higher at 48,080.67, while the broader NSE Nifty advanced 109.75 points or 0.77 per cent to 14,406.15.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,082.33 crore on Tuesday, as per provisional data.
“Indian rupee erased early morning loss and ended with minor depreciation following rebound in domestic equities. Risk-on sentiments, lower dollar index and dollar selling by exporters and central bank’s supported rupee in Thursday’s session,” said Dilip Parmar, Research Analyst, HDFC Securities.
However, the trend for rupee remains on the downside as domestic macro environments getting weaker with rising infections, short term consolidation cannot be ruled out after recent sell-off, Parmar noted.
“Rupee after opening lower against the US dollar rose in the latter half following suspected RBI intervention and gains in domestic equities,” said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.
In the last few sessions, the reaction of the rupee has been determined by the increasing number of COVID cases in India. Announcements of stricter restrictions by many states have disturbed the overall market sentiment.
(This Story Is A Compilation Of 3 PTI Stories)
The BSE Sensex slipped 243.62 points or 0.51 per cent to close the session at 47,705.80, an over two-month low. Intra-day, the BSE gauge rose as much as 529 points to touch the day’s peak of 48,478.34.
Likewise, the NSE Nifty climbed over 167 points to reclaim the key 14,500-level during the day, but surrendered all its gains to end at 14,296.40, showing a drop of 63.05 points or 0.44 per cent.
On the Sensex chart, UltraTech Cement, HCL Tech, HDFC, Tech Mahindra, HDFC Bank and HUL emerged as the major laggards — falling as much as 4.70 per cent.
On the other hand, Bajaj Finserv, Dr Reddy’s, Bajaj Finance, Bajaj Auto, M&M and Maruti were among the top gainers, climbing up to 3.70 per cent.
Market analysts said a continued spike in fresh COVID-19 cases in the country and announcements of restrictions by several states have clearly dented investor sentiments and posed a threat to earnings recovery.
“Indian markets witnessed a bounce-back in its opening trade, however, failed to hold on to its early gains due to weak global cues and the possibility of a stricter lockdown in Maharashtra.
“Despite the vaccine drive kindling hopes of recovery, the trend in the market will depend on positive developments like decreasing COVID cases and lifting restrictions. IT and FMCG were the sectoral laggards while mid and small-caps outperformed,” said Vinod Nair, Head of Research at Geojit Financial Services.
Sectorally, BSE IT index fell over 1 per cent, followed by teck with 0.77 per cent drop. Other major losers were basic materials, FMCG, finance and banking.
However, healthcare, capital goods, telecom and industrials closed in the green.
In the broader market, BSE midcap and small cap indices performed well to close with gains. But the largecap index followed the benchmark to finish lower.
Elsewhere in Asia on Tuesday, equity bourses saw mixed trading as investors awaited the release of China’s latest benchmark lending rate. Japan led losses among the region’s major markets, followed by Hong Kong.
US stocks ended lower on Monday, slipping from last week’s record levels.
Meanwhile, global crude oil benchmark Brent futures rose 0.77 per cent to USD 67.68 per barrel, despite concerns about the impact on oil demand going forward due to rising coronavirus cases in India.
The rupee ended almost flat at 74.88 (provisional) against the US dollar on Tuesday.
Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 1,633.70 crore, as per exchange data.
Bourses will remain closed on Wednesday for ‘Ram Navami’.
Gold in the national capital on Tuesday fell by Rs 305 to Rs 46,756 per 10 gram in line with a fall in international precious metal prices and rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,061 per 10 gram.
Silver also dipped Rs 113 to Rs 67,810 per kilogram from Rs 67,923 per kilogram in the previous trade.
The rupee advanced by 23 paise to 74.64 against the US dollar in opening trade on Tuesday.
In the global market, gold was quoting lower at USD 1,768 per ounce and silver was flat at USD 25.90 per ounce.
“Gold prices traded under pressure after US bond yields recovered from the recent lows. The yellow metal witnessed selling with rising in US bond yields while prices were 10 away from touching 1,800 levels,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services said, “Gold came 10 short from touching 1,800 level in yesterday’s session as the rebound in US bond yields overpowered the support from sagging dollar.
The rupee pared its initial gains to close marginally down by 1 paisa at 74.88 against the US dollar on Tuesday due to worries that the alarming surge in COVID-19 cases could derail the economic recovery in the country.
At the interbank forex market, the domestic unit opened at 74.65 against the US dollar, but lost ground to close at 74.88 against the US dollar.
During the session, the local unit witnessed an intra-day high of 74.64 and a low of 74.98 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 91.03.
Traders said the local unit ended in the red as investors were concerned that the surge in coronavirus infections could result in stricter lockdowns, which in turn could hamper the country’s economic recovery.
India’s total tally of COVID-19 cases climbed to 1,53,21,089 with 2,59,170 new coronavirus infections being reported in a day, while active cases surpassed the 20-lakh mark, according to the Union Health Ministry data updated on Tuesday.
Registering a steady increase for the 41st day in a row, the active cases increased to 20,31,977, comprising 13.26 per cent of the total infections, while the national COVID-19 recovery rate has dropped to 85.56 per cent.
On the domestic equity market front, the 30-share BSE benchmark Sensex ended 243.62 points or 0.51 per cent lower at 47,705.80 and broader NSE Nifty fell 63.05 points or 0.44 per cent to 14,296.40.
Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 1,633.70 crore, as per exchange data.
Brent crude futures, the global oil benchmark, advanced 0.88 per cent to USD 67.64 per barrel.
(This Story Is A Compilation of 3 PTI Stories)
Participants also cheered the government’s decision to fast-track approval for foreign-produced COVID-19 vaccines. Russia’s Sputnik V vaccine has received emergency use authorisation in India, paving the way for the third coronavirus vaccine in the country.
However, the COVID-19 situation remains worrisome and will determine market trajectory in the near term, traders said.
Building on a positive start, the 30-share BSE Sensex gained momentum in late-afternoon trade to close 660.68 points or 1.38 per cent higher at 48,544.06.
On similar lines, the broader NSE Nifty surged 194 points or 1.36 per cent to finish at 14,504.80.
M&M was the top gainer in the Sensex pack, rallying 8.02 per cent, followed by Bajaj Finserv, Bajaj Finance, Maruti, IndusInd Bank, ICICI Bank, ONGC and Axis Bank.
On the other hand, TCS was the biggest laggard, slumping 4.21 per cent, a day after reporting its March quarter results.
The country’s largest tech exporter on Monday reported a 14.9 per cent jump in consolidated net profit for the March quarter to Rs 9,246 crore, but posted a marginal increase in reported post-tax profit at Rs 32,430 crore for FY21.
Dr Reddy’s, Tech Mahindra, HCL Tech, Infosys and Nestle India were among the other losers, shedding up to 4.18 per cent.
“Market attempted to pull back from yesterday’s selloff but wasn’t that enthusiastic. IT sector broke the trend due to profit booking as initial Q4 results were in line with expectations not providing enough leeway to a highly valued sector.
“While Industrial production for February declined by 3.6 per cent primarily due to contraction in the manufacturing and mining sectors, India’s retail inflation for March also rose to 5.52 per cent. However, it did not harm the market sentiment as it was in line with the recent RBI policy forecast. How the lockdowns will affect the economy will determine the trend of the domestic market, in the short-term,” said Vinod Nair, Head of Research at Geojit Financial Services.
BSE auto, metal, finance, bankex, realty and telecom indices rallied as much as 4.30 per cent, while IT, teck and healthcare indices closed with losses.
Broader BSE midcap and smallcap indices spurted up to 1.46 per cent.
World stocks perched near all-time highs ahead of US inflation data, which would offer cues on the economic recovery taking hold.
Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended on a positive note, while Shanghai was in the red.
Stock exchanges in Europe were largely trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.90 per cent higher at USD 63.85 per barrel.
The forex market was closed on account of ‘Gudi Padwa’.
Bourses will be shut on Wednesday for ‘Babasaheb Ambedkar Jayanti’.
Gold dipped Rs 130 to Rs 46,093 per 10 gram in the national capital on Tuesday following a decline in international precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,223 per 10 gram.
Silver also declined Rs 305 to Rs 66,040 per kilogram from Rs 66,345 per kilogram in the previous trade.
In the international market, gold was trading lower at USD 1,726 per ounce and silver was flat at USD 24.89 per ounce.
“Gold prices traded lower with spot gold prices at COMEX (New York-based commodities exchange) trading down to $1,726 per ounce on Tuesday,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
The 30-share BSE index ended 154.89 points or 0.31 per cent lower at 49,591.32.
Similarly, the broader NSE Nifty slipped 38.95 points or 0.26 per cent to 14,834.85.
Bajaj Finance was the top loser in the Sensex pack, shedding around 3 per cent, followed by UltraTech Cement, NTPC, Axis Bank, ICICI Bank, IndusInd Bank, Reliance Industries, L&T and HDFC Bank.
On the other hand, Sun Pharma, HUL, Tech Mahindra and Dr Reddy’s were among the gainers.
“Domestic equities traded range-bound with continued selling pressure from financials. Further, weak cues from Asian markets and concerns of sharp rise in COVID-19 cases across the country weighed on sentiments,” said Binod Modi, Head Strategy at Reliance Securities.
While financials remained a drag, pharma stocks witnessed strong buying due to expectations of improvement in sales volume in the backdrop of spike in new coronavirus cases, he said, adding IT stocks remained in focus ahead of results next week.
He stated that continued sharp rise in coronavirus cases in the country and resultant mobility restrictions are expected to weigh on investor sentiment in the near term. Further, recent weakness in the rupee may also aggravate investors’ concerns and adversely impact FPIs flows, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended in the red, while Tokyo finished with gains.
Top stock exchanges in Europe were largely trading on a negative note in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.27 per cent lower at USD 63.03 per barrel.
Gold prices gained Rs 97 to Rs 46,257 per 10 gram in the national capital on Friday supported by rupee depreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed the day at Rs 46,160 per 10 gram.
In contrast, silver dipped Rs 275 to Rs 66,253 per kg, from Rs 66,528 per kg in the previous trade.
“Spot gold prices for 24 karat in Delhi were up by Rs 97 supported by rupee depreciation,” said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
The rupee depreciated 17 paise to 74.75 against the US dollar in opening trade on Friday.
In the international market, gold was quoting lower at USD 1,745 per ounce and silver was flat at USD 25.15 per ounce.
“Gold prices witnessed some profit-booking with dollar gain,” he added.
The rupee fell for the fifth straight session and settled 15 paise down at 74.73 (provisional) against the US dollar on Friday as rising COVID-19 cases, weak domestic equities and strengthening American currency weighed on investors’ sentiment
At the interbank forex market, the local unit opened at 74.75 against the greenback and traded in the range of 74.53 to 74.96 during the day
The rupee finally ended at 74.73 against the American currency, registering a fall of 15 paise over its previous close. On Thursday, the rupee had settled at 74.58 against the American currency
This is the fifth straight session of loss for the domestic unit, during which it has seen depreciation of 161 paise
“Rupee traded weak yet again as the weak trend continues on the back of government spending on vaccines and treatment of COVID-19 increasing numbers,” said Jateen Trivedi, Senior Research Analyst at LKP Securities
Trivedi further noted that “74.75 is now maintained as resistance for the rupee. Going ahead 74.75 – 75.25 range can be seen with the weak trend for rupee”
India registered a record single-day spike of 1,31,968 new COVID-19 cases on Friday, pushing its infection tally to 1,30,60,542, while the death toll increased to?1,67,642?with 780 more fatalities in a day, highest since October 18, the Union Health Ministry data showed
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.25 per cent to 92.29
Brent crude futures, the global oil benchmark, was trading 0.30 per cent down at USD 63.01 per barrel
On the domestic equity market front, the BSE Sensex ended 154.89 points or 0.31 per cent lower at 49,591.32, while the broader NSE Nifty declined by 38.95 points or 0.26 per cent to 14,834.85
Foreign institutional investors were net buyers in the capital market and purchased shares worth 110.85 crore on Thursday, according to exchange data.
(This Story is a compilation of 3 PTI stories)
The 30-share BSE index settled 84.45 points or 0.17 per cent higher at 49,746.21. The broader NSE Nifty advanced 54.75 points or 0.37 per cent to 14,873.80.
UltraTech Cement was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Titan, Tech Mahindra, Nestle India, TCS, Bajaj Finserv and L&T.
On the other hand, IndusInd Bank, ONGC, Sun Pharma, HDFC Bank and Axis Bank were among the laggards.
Domestic equities, despite trading positively for most of the session, gave up a large portion of gains towards the end of the day as concerns of rising COVID-19 cases continued to weigh on investor sentiment, said Binod Modi, Head-Strategy at Reliance Securities.
Financials witnessed profit-booking and dragged the market. Barring financials, most of key sectoral indices traded in the green with metal index remaining an outperformer.
“Expectations of steady 4QFY21 earnings and weakening INR continued to attract investors’ interest towards IT stocks,” he noted.
While softening of bond yields and crude prices in recent period offered some comfort to markets, a sharp depreciation in rupee in the last couple of trading days could be a new worry for investors, which can also have an impact on FPI flows, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a positive note, while Tokyo was in the red.
Stock exchanges in Europe were largely trading with gains in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.44 per cent lower at USD 62.88 per barrel.
The rupee fell for the fourth straight session and settled 11 paise down at 74.58 (provisional) against the US dollar on Thursday amid fears that a rapid resurgence of Covid cases in the country can disrupt economic recovery.
At the interbank forex market, the local unit opened at 74.38 against the greenback and traded in the range of 74.19 to 74.93 during the day.
The rupee finally ended at 74.58 against the American currency, registering a fall of 11 paise over its previous closing of 74.47.
On Wednesday, the Indian rupee nosedived 105 paise to mark its biggest single-session drop in over 20 months.
India registered a record single-day spike of 1,26,789 new COVID-19 cases, pushing its infection tally to 1,29,28,574, while the number of active cases too went upwards to breach the nine lakh-mark again, Union Health Ministry data updated on Thursday showed.
Jateen Trivedi, Senior Research Analyst at LKP Securities, said that “government spending keeps increasing on vaccines and health products due to rising COVID-19 cases. INR will be seen in a range of 74.45-75.15 in sessions ahead with a weak trend for the rupee”.
This is the fourth straight session of loss for the domestic unit, during which it has seen depreciation of 146 paise.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06 per cent to 92.39.
Brent crude futures, the global oil benchmark, was trading 0.51 per cent down at USD 62.84 per barrel.
On the domestic equity market front, the BSE Sensex ended 84.45 points or 0.17 per cent higher at 49,746.21, while the broader NSE Nifty advanced by 54.75 points or 0.37 per cent to 14,873.80.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 227.42 crore on Wednesday, according to exchange data.
Gold rose by Rs 182 to Rs 45,975 per 10 gram in the national capital on Thursday following gains in the international precious metal prices, according to HDFC Securities.
In the previous trade, the metal had closed at Rs 45,793 per 10 gram.
Silver also witnessed increased buying and jumped Rs 725 to Rs 66,175 per kg from the previous close of Rs 65,450 per kg.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 karat in Delhi were up by Rs 182 with gains in COMEX (New York-based commodities exchange) gold prices.”
In the international market, gold was trading with gains at USD 1,744 per ounce and silver was flat at USD 25.30 per ounce.
(This Story Is A Compilation Of 3 PTI Stories)
After touching an all-time high of 50,687.51 during the day, the 30-share BSE index ended 358.54 points or 0.71 per cent at its new closing record of 50,614.29.
Similarly, the broader NSE Nifty finished 105.70 points or 0.71 per cent higher at its closing peak of 14,895.65. It touched an intra-day record of 14,913.70.
ITC was the top gainer in the Sensex pack, soaring around 6 per cent, followed by SBI, Bajaj Finance, ONGC, M&M, Kotak Bank, UltraTech Cement, NTPC and Bajaj Finserv.
On the other hand, Asian Paints, IndusInd Bank, Bharti Airtel, Tech Mahindra and Titan were among the laggards.
"Domestic equities defied weak cues of Asian markets and extended gains for the fourth consecutive day as growing optimism about prospects of Indian economy post the announcement of bold Budget continued to attract investors," said Binod Modi, Head Strategy at Reliance Securities.
Notably, domestic market crossed Rs 200 trillion market capitalisation mark during the day, he said, adding that strong buying in banks, especially PSBs, and FMCG space supported the market rally.
Elsewhere in Asia, bourses in Tokyo, Hong Kong, Seoul and Shanghai closed with losses.
Stock exchanges in Europe were, however, largely trading with gains in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.09 per cent higher at USD 58.74 per barrel.
The Indian rupee ended unchanged at 72.96 (provisional) against the US dollar on Thursday even as the domestic equity markets scaled fresh highs.
At the interbank forex market, the local unit opened at 72.92 against the greenback and witnessed an intra-day high of 72.90 and a low of 72.96.
It finally ended at 72.96 against the American currency, unchanged from its previous close.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.28 per cent to 91.42.
The rupee is trading in a narrow range as market participants are looking ahead to cues from the Monetary Policy Committee decision due this week and the outlook on the economy by the central bank, analysts said.
On the domestic equity market front, the BSE Sensex ended 358.54 points or 0.71 per cent higher at 50,614.29, while the broader NSE Nifty climbed 105.70 points or 0.71 per cent to 14,895.65 .
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,520.92 crore on Wednesday, according to exchange data.
Brent crude futures, the global oil benchmark, rose 0.55 per cent to USD 58.78 per barrel.
Gold in the national capital on Thursday declined Rs 322 to Rs 47,135 per 10 gram, recording fall for the fourth consecutive day, with drop in global precious metal prices and rupee appreciation, according to HDFC Securities.
In the previous trade, it had closed at Rs 47,457 per 10 gram.
Silver also declined Rs 972 to Rs 67,170 per kg, from Rs 68,142 per kg in the previous trade.
"Spot gold prices for 24 karat in Delhi were down by Rs 322 reporting fourth consecutive fall with decline in global gold prices and rupee appreciation," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
The rupee appreciated by 6 paise to 72.90 against the US dollar in opening trade on Thursday.
In the international market, gold was trading lower at USD 1,825 per ounce and silver was flat at USD 26.61 per ounce.
The 30-share BSE benchmark briefly crossed the 51,000-level, before ending 117.34 points or 0.23 per cent higher at its fresh closing record of 50,731.63.
Similarly, the 50-share NSE Nifty scaled the 15,000 mark during the day but shed some ground to close at its all-time high of 14,924.25, up 28.60 points or 0.19 per cent.
SBI was the top gainer in the Sensex pack, rallying 10.69 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank.
On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards, tumbling up to 3.30 per cent.
Earlier in the day, the Reserve Bank of India (RBI) kept interest rates on hold while assuring to maintain support for reflating the economy by ensuring ample liquidity to manage the government's near-record borrowing.
The six-member Monetary Policy Committee (MPC) voted to continue with the accommodative stance as long as necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target, Governor Shaktikanta Das said.
To absorb higher government borrowings, the central bank provided retail investors a direct option to invest in government securities.
It also sapped some fund from banks by raising the Cash Reserve Ratio (CRR) and use the money for more targeted market operations.
The developmental measures announced by the RBI included the inclusion of NBFCs in the on tap TLTRO scheme, the incentive to banks to lend to new MSME borrowers through a lower CRR requirement and the further deferment of capital conservation buffer.
"RBI has maintained status quo on policy rates on expected lines. However, the commentary is quite dovish. RBI stated its monetary stance would continue to be accommodative. Also, it would ensure enough liquidity is available to support the high government borrowing program.
"Hence, the two cylinder of policy, fiscal and monetary, would be supportive to growth in economy. This is good news for banks and financials along with positive rub off to domestic cyclical sectors. We remain constructive on equity markets and believe that the economy and corporate earnings are at a cusp of a new multi-year upcycle," said Gaurav Dua, SVP, Head Capital Market strategy, Sharekhan by BNP Paribas.
BSE realty, bankex, healthcare, metal, FMCG and finance indices moved up to 0.94 per cent, while telecom, teck, auto, oil and gas and IT ended in the red.
However, broader BSE midcap and smallcap indices underperformed benchmarks, ending up to 0.93 per cent lower.
During the week, the Sensex rallied 4,445.86 points or 9.60 per cent, while the Nifty soared 1,289.65 points or 9.45 per cent.
Global shares maintained their upward trajectory on US stimulus hopes and growth optimism.
Elsewhere in Asia, indices in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai was in the red.
Stock exchanges in Europe were also trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.95 per cent higher at USD 59.56 per barrel.
Meanwhile, Indian rupee gained 3 paise to settle at 72.93 against the US dollar on Friday after the Reserve Bank kept the policy rate unchanged but maintained its accommodative stance to spur growth.
At the interbank forex market, the local unit opened at 72.98 against the greenback and witnessed an intra-day high of 72.80 and a low of 72.99.
It finally ended at 72.93 against the American currency, registering a rise of 3 paise from its previous close.
On Thursday, the rupee had settled at 72.96 against the American currency.
"Indian Rupee gained strength amid surge in domestic markets and as Reserve Bank of India kept repo rate unchanged at 4.0 per cent and maintained its accommodative stance. However, sharp upside was prevented on strong dollar and surge in crude oil prices," said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
The six-member Monetary Policy Committee (MPC) voted to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target, Governor Shaktikanta Das said.
With green shoots of recovery clearly visible, the RBI pegged GDP growth in the fiscal year beginning April 1, 2021 at 10.5 per cent, a tad lower than 11 per cent predicted by the government's Economic Survey last week.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.13 per cent to 91.41.
On the domestic equity market front, the BSE Sensex ended 117.34 points or 0.23 per cent higher at 50,731.63, while the broader NSE Nifty climbed 28.60 points or 0.19 per cent to 14,924.25.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,936.74 crore on Thursday, according to exchange data.
Brent crude futures, the global oil benchmark, rose 1.24 per cent to USD 59.57 per barrel.
On a weekly basis, the rupee gained 3 paise against the American currency.
"The Indian Rupee ended with small gain on Friday but was little changed against the US currency this week, as persistent dollar bids by the Reserve Bank of India, offset the impact of foreign equity inflows," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Meanwhile, Asian currencies were broadly weaker this week tracking gains in the US dollar index.
"The Dollar Index was weak this Friday ahead of the payroll number tonight but was headed for its best weekly gain in three months lifted by growing confidence that the US economic recovery will outpace its global peers," Iyer noted.
According to Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services, "after the Budget, it was obvious that RBI wouldn't spoil the party. The MPC stance was more on the lines with our expectations of keeping the repo rate unchanged with accommodative stance."
The positive take away for currency market was the growth projection, rupee surged after the real GDP growth was projected at 10.5 per cent for FY22, he said.
"The USD-INR spot's outlook depends on risk sentiments, which will continue to pick up as nations are lifting travel restrictions. With hopes of liquidity unswerving global economic stimulus we expect the downward trend to continue in USD-INR spot," he noted.
Falling for the fifth consecutive day, gold prices on Friday declined Rs 163 to Rs 46,738 per 10 gram in the national capital amid rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,901 per 10 gram.
Silver, however, gained Rs 530 to Rs 67,483 per kg, from Rs 66,953 per kg in the previous trade.
In the international market, gold was quoting with gains at USD 1,810 per ounce and silver was flat at USD 26.71 per ounce.
(Story Compilation From PTI Inputs)
After plunging over 1,400 points earlier in the day, the 30-share BSE index pared some losses to finish at 49,159.32, down 870.51 points or 1.74 per cent. Similarly, the broader NSE Nifty sank 229.55 points or 1.54 per cent to 14,637.80.
Bajaj Finance was the top laggard in the Sensex pack, plunging around 6 per cent, followed by IndusInd Bank, SBI, M&M, Axis Bank, Bajaj Auto and ICICI Bank.
On the other hand, HCL Tech, TCS and Infosys were among the gainers.
“The market witnessed a huge sell-off today as India’s second wave of COVID-19 is getting bigger than anticipated and is expected to ruin the pace of economic recovery. High valuation added further concern due to a possible downgrade in Q1FY22 earnings,” said Vinod Nair, Head of Research at Geojit Financial Services.
A policy decision in the upcoming MPC announcement and Q4 earnings will define the market volatility in the coming days, he added.
The rise in COVID-19 cases in India is a sobering reminder that challenges to recovery still remain, said Lalitabh Srivastava, AVP research, Sharekhan by BNP Paribas.
The provisional numbers of key banks indicate a consolidating trend in terms of advances growth but encouraging performance on deposit and CASA front, he added.
Elsewhere in Asia, bourses in Seoul and Tokyo ended on a positive note. Markets in Shanghai, Hong Kong and Australia were closed for holidays.
Stock exchanges in Europe were also closed.
Meanwhile, the global oil benchmark Brent crude was trading 2.20 per cent lower at USD 63.43 per barrel.
The rupee declined by 18 paise to close at 73.30 (provisional) against the US currency on Monday on strong American currency and risk aversion in the domestic market amid concerns over rising COVID-19 cases.
Besides, losses in domestic equity markets weighed on investors’ sentiment.
At the interbank forex market, the local unit opened at 73.38 against the greenback and traded in the range of 73.28 to 73.45 during the day.
The rupee finally ended at 73.30 against the American currency, registering a fall of 18 paise over its previous closing of 73.12. The forex market was closed on April 2, on account of Good Friday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05 per cent to 93.06.
“The Indian Rupee depreciated amid strong dollar and risk aversion in the domestic markets. Dollar is gaining strength amid surge in US treasury yields and upbeat economic data,” said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
Further, the rupee may slip on concern over rising COVID-19 cases in India.
India reported more than 1 lakh cases of corona virus for the first time. Maharashtra government announced new restrictions, including night curfews and weekend lockdowns.
“However, sharp fall was prevented on softening of crude oil prices. Rupee may trade in the range of 72.80 to 74.0 in next couple of sessions,” Mukadam added.
Brent crude futures, the global oil benchmark, was trading 2.05 per cent down at USD 63.53 per barrel.
On the domestic equity market front, the BSE Sensex ended 870.51 points or 1.74 per cent lower at 49,159.32, while the broader NSE Nifty declined by 229.55 points or 1.54 per cent to 14,637.80.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 149.41 crore on Thursday, according to exchange data.
Gold was marginally lower by Rs 15 to Rs 44,949 per 10 gram in the national capital on Monday amid muted trading and tepid global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 44,964 per 10 gram.
Silver also dipped by Rs 216 to Rs 64,222 per kilogram from Rs 64,438 per kilogram in the previous trade.
“Spot gold prices for 24 carat in Delhi were down by Rs 15 on muted trading,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
In the international market, gold was quoting lower at USD 1,727 per ounce and silver was flat at USD 24.78 per ounce.
(This story is a compilation of 3 PTI stories)
Dovish comments from US Federal Reserve Chair Jerome Powell also bolstered global investor sentiment, which augurs well for fund flows into emerging markets like India, analysts said.
Overcoming bouts of mid-session volatility, the 30-share BSE index settled 222.13 points or 0.43 per cent higher at its new closing peak of 51,531.52.
In similar movement, the broader NSE Nifty advanced 66.80 points or 0.44 per cent to its all-time high of 15,173.30.
Reliance Industries was the star performer in the Sensex pack, rallying 4.07 per cent, followed by Sun Pharma, Bajaj Finance, PowerGrid, Bharti Airtel, Nestle India and HUL.
On the other hand, Titan, L&T, HDFC Bank, ITC, ONGC and SBI were among the laggards, tumbling up to 2.50 per cent.
"After the initial downtick, the benchmark recovered in no time and remained range-bound thereafter...The mixed trend continued on the sectoral front as Capital Goods, Consumer Goods and Auto ended with losses whereas Oil & Gas, Metal and Telecom ended with gains.
"We reiterate our bullish view on markets. However, traders should maintain extra caution in the selection of stocks now. Participants would be actively tracking key macroeconomic data like IIP, CPI and WPI data for cues on Friday," said Ajit Mishra, VP - Research, Religare Broking.
BSE energy, telecom, oil and gas, utilities, basic materials and metal indices surged up to 3.13 per cent, while capital goods, consumer durables, auto and industrials ended in the red.
Broader BSE midcap and smallcap indices rallied up to 1.06 per cent.
US Fed Chair Jerome Powell reassured investors that interest rates will remain low in the near future to prop up the economy, adding that the jobs scenario is "a long way" from where it needs to be.
Elsewhere in Asia, markets in China, Japan and South Korea were closed for holidays.
Stock exchanges in Europe were largely trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.67 per cent lower at USD 61.06 per barrel.
The Indian rupee ended 3 paise lower at 72.87 against the US dollar.
Foreign institutional investors remained net buyers in the domestic capital market as they purchased shares worth Rs 1,786.97 crore on Wednesday, according to exchange data.
The Indian rupee ended 3 paise lower at 72.87 against the US dollar on Thursday amid a firm trend in the domestic equity markets.
At the interbank forex market, the local unit opened at 72.81 against the greenback and witnessed an intra-day high of 72.65 and a low of 72.87.
It finally ended at 72.87 against the American currency, registering a fall of 3 paise over its previous close.
On Wednesday, the rupee had finished at 72.84.
The dollar index, which gauges the greenback's strength against a basket of six currencies, inched up 0.02 per cent to 90.38.
On the domestic equity market front, the BSE Sensex ended 222.13 points or 0.43 per cent higher at its all-time high of 51,531.52. Similarly, the broader NSE Nifty advanced 66.80 points or 0.44 per cent to a record 15,173.30.
Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 1,786.97 crore on Wednesday, according to exchange data.
Brent crude futures, the global oil benchmark, fell 0.70 per cent to USD 61.04 per barrel.
"The Indian Rupee ended flat against the US dollar, as possible intervention from RBI offset the impact of foreign flows in local equities," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
The local unit had strengthened earlier in the session amid equity purchases by foreign investors which continued to remain buoyant over the last three months, Iyer said.
The next trigger for the market could be the CPI and IIP data due on Friday, traders said.
"On the domestic front, market participants will be keeping an eye on inflation and industrial production number and better-than-estimates number could extend gains for the currency.
"Today, volatility for the dollar could remain low as no major economic data is expected to be released from the US," said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Somaiyaa further added that "we expect the USD-INR (Spot) to quote sideways with a lower bias and in the range of 72.70 and 73.25."
Gold in the national capital gained marginally by Rs 36 to Rs 47,509 per 10 gram on Thursday in line with firm global prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,473 per 10 gram.
Silver also jumped Rs 454 to Rs 69,030 per kg, from Rs 68,576 per kg in the previous trade.
In the international market, gold was trading with gains at USD 1,844 per ounce and silver was flat at USD 27.18 per ounce.
(This Article Is A Compilation Of PTI Stories)
Investors also turned cautious ahead of the third quarter GDP data release, besides keeping an eye on simmering geopolitical tensions between the US and Syria.
At the day's close, the 30-share BSE Sensex settled 1,939.32 points or 3.80 per cent lower at 49,099.99 its worst one-day fall since May 4 last year.
Similarly, the broader NSE Nifty plunged 568.20 points or 3.76 per cent to close the session at 14,529.15 the biggest single-day drop since March 23 last year.
On the Sensex chart, all 30 constituents ended in the red, with eight scrips logging over 5 per cent drop.
Sectorally, banking index suffered the maximum loss with over 4.8 per cent drop. Financial and telecom indices too fell sharply by 4.9 per cent and 3.85 per cent, respectively.
"Equity markets opened gap down following spike in global bond yields and extended its weakness further as the session progressed. Panic in global bond markets led to sharp rise in yields which spooked investors amid fears of interest rate cycle reversal," said Hemang Jani, Head of Equity Strategy, Broking & Distribution, Motilal Oswal.
Vinod Nair, Head of Research at Geojit Financial Services, said, "Domestic markets tumbled in line with global trend triggered by a sharp rise in bond yields. Increasing geopolitical tension between the US and Syria aggravated the selling. Q3 GDP data which is to be released today also added volatility in the Indian market."
Although negative, mid and small caps outperformed their larger indices showing investor confidence, he said, adding the market will gain momentum as the global market is expected to stabilise supported by maintaining accommodative monetary policy and a growing economy.
Elsewhere in Asia, bourses closed with heavy losses due to a rout in global bond markets.
Stock exchanges in Europe were also trading with losses in mid-session deals.
Most global markets traded lower after Wall Street's main indexes tumbled, following a steep rise in benchmark US Treasury yields.
Meanwhile, the global oil benchmark Brent crude was trading 1.16 per cent lower at USD 65.34 per barrel.
On the forex market front, the rupee tumbled 104 paise to close at 73.47 against the US dollar.
Gold prices on Friday declined by Rs 342 to Rs 45,599 per 10 grams and silver plummeted by Rs 2,007 to Rs 67,419 per kg in the national capital, due to selling in the international market, according to HDFC Securities.
The precious metal had closed at Rs 45,941 per 10 grams on Thursday.
Silver plummeted by Rs 2,007 to Rs 67,419 per kg, compared with the previous close of Rs 69,426 per kg.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold at Delhi fell for the third day by Rs 342, in line with selling in global gold prices despite of sharp rupee depreciation."
In the international market, gold was trading lower at USD 1,760 an ounce, while silver was down at USD 26.78 an ounce.
The rupee dived 104 paise to settle at 73.47 (provisional) against the US dollar on Friday, following a heavy selloff in domestic equities and strong American currency in the overseas market.
At the interbank forex market, the local unit opened at 72.43 against the greenback, then lost further ground to touch an intra-day low of 73.51.
It finally ended at 73.47 against the American currency, registering a massive fall of 104 paise over its previous close.
On Thursday, the rupee had settled at 72.43 against the American currency.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.43 per cent to 90.52.
"US bond yields have surged on worries about inflationary pressures due to unprecedented liquidity infusion in the system and a series of economic data, which is indicating that the economy is on the path to normalcy. This has in-turn led to a rebound in the dollar index and prompted a selloff in risk assets.
"We think that the rupee could see some more depreciation till the 73.50 mark, as the narrowing interest rate differential between India and US could prompt some outflows from the Indian bond and equity market," Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking, said.
However, it is too early to term this as a weakening bias for the domestic currency, and unless it sustains levels below 73.50 comfortably, the scope for appreciation remains, she added.
Meanwhile, Brent crude futures, the global oil benchmark, fell 0.99 per cent to USD 66.22 per barrel.
On the domestic equity market front, the BSE Sensex ended 1939.32 points or 3.80 per cent lower at 49,099.99, while the broader NSE Nifty slumped 568.20 points or 3.76 per cent to 14,529.15.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 188.08 crore on Thursday, according to exchange data.
(This Story Is A Compilation of PTI Stories)
Intra-day, the 30-share BSE index fell as much as 905 points before ending the session at 50,846.08, showing a decline of 598.57 points or 1.16 per cent.
The broader NSE Nifty too closed with a loss of 164.85 points or 1.08 per cent at 15,080.75.
On the Sensex chart, HDFC, L&T, SBI, Axis Bank, Bajaj FinServ and HDFC Bank were major laggards dropping up to 2.62 per cent. Of 30 Sensex shares, 25 closed with losses.
"Domestic equities traded lower today mainly on weak global cues Financials and Metals indices were keg drags today, while FMCG, Pharma and IT indices were resilient. A sharp 6 bps rise in 10-Year USA treasury yield made investors jittery today, said Binod Modi, Head - Strategy at Reliance Securities.
Over the previous three sessions, the Sensex had risen by 2,344.66 points or 4.77 per cent, while the Nifty had added 716.45 points or 4.93 per cent.
Foreign investors had bought equities worth Rs 2,088.70 crore on a net basis in Indian capital markets on Wednesday, according to exchange data.
On Thursday, Asian shares too tumbled after an overnight surge in bond yields dragged Wall Street lower.
On the forex market front, the rupee ended 11 paise lower at 72.83 against the US dollar.
Meanwhile, global crude oil benchmark Brent was trading 1.16 per cent higher at USD 64.73 per barrel.
Gold prices on Thursday fell by Rs 217 to Rs 44,372 per 10 gm in the national capital, as vaccine rollout has boosted risk on sentiments lowering safe haven demand for precious metals, according to HDFC Securities.
The precious metal had closed at Rs 44,589 per 10 gm in the previous trading session.
In tandem, silver prices eased by Rs 1,217 to Rs 66,598 per kg as compared with the previous close of Rs 67,815 per kg.
"Spot gold prices for 24 carat gold at Delhi fell by Rs 217 reflecting overnight decline in COMEX gold prices despite of rupee depreciation," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
Meanwhile, the Indian rupee was trading 18 paise lower at 72.90 against the US dollar.
Patel further noted that gold prices have kept lower trading range on stronger dollar and rise in the US treasury yields.
"The vaccine rollouts have boosted risk on sentiments lowering safe haven demand for precious metals. The traders may await for comments from US FED chairman later on Thursday," he noted.
In the international market, gold was trading slightly higher at USD 1,717 an ounce and silver was also marginally up at USD 26.09 an ounce.
"We expect gold prices to trade sideways to down for the day with COMEX spot gold support lies at USD 1,700 and resistance at USD 1,740. MCX Gold April support lies at Rs 44,700 and resistance lies at Rs 45,200," Patel said.
The rupee ended 11 paise lower at 72.83 (provisional) against the US dollar on Thursday, weighed down by a rebound in the US dollar and muted domestic equities.
At the interbank forex market, the local unit opened at 72.99 against the greenback and witnessed an intra-day high of 72.62 and a low of 72.99.
It finally ended at 72.83 against the American currency, registering a fall of 11 paise over its previous closing.
On Wednesday, the rupee had settled at 72.72 against the American currency.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.27 per cent to 91.19.
Meanwhile, Brent crude futures, the global oil benchmark, fell 0.34 per cent to USD 63.85 per barrel.
On the domestic equity market front, the BSE Sensex ended 598.57 points or 1.16 per cent lower at 50,846.08, while the broader NSE Nifty declined 164.85 points or 1.08 per cent to 15,080.75.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,088.70 crore on Wednesday, according to exchange data.
(This story is a compilation of PTI stories)
After gyrating 1,283 points during the day, the 30-share BSE index ended 487.43 points or 0.95 per cent lower at 50,792.08.
The broader NSE Nifty tanked 143.85 points or 0.95 per cent to end at 15,030.95.
Bajaj Auto was the top loser in the Sensex pack, falling around 3 per cent, followed by Maruti, ICICI Bank, Sun Pharma and Reliance Industries.
On the other hand, PowerGrid, ONGC, Titan and Infosys were the gainers.
According to Binod Modi, Head - Strategy at Reliance Securities, after seeing a brisk opening on favourable global cues, domestic equities fell sharply mainly led by selling pressure in financials and auto stocks.
"10-Year US treasury yield again surged back to 1.6 per cent on anticipation of spike in inflation led by USD 1.9 trillion fiscal stimulus backed faster economic recovery. This has weighed on investor sentiments," he said.
Hardening bond yields and soaring oil prices are also expected to weigh on investor sentiment and may keep markets volatile in the near to medium term, he added.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo ended on a positive note, while Hong Kong was in the red.
Stock exchanges in Europe were also trading in losses in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.09 per cent lower at USD 69.57 per barrel.
Extending its gaining streak for the third day in a row, the Indian rupee advanced by another 12 paise to close at 72.79 against the US dollar on Friday amid some easing of crude oil prices.
At the interbank foreign exchange, the Indian unit opened at 72.66 but surrendered some gains as the trade progressed and closed the session at 72.79 -- showing a rise of 12 paise to the dollar.
In the last three sessions, the Indian currency has gained 46 paise against the American currency.
Forex market was closed on Thursday on account of Mahashivratri'.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.57 per cent to 91.94.
Global oil benchmark Brent crude futures fell 0.13 per cent to USD 69.53 per barrel.
On the domestic equity market front, the BSE Sensex slumped 487.43 points or 0.95 per cent to close at 50,792.08, while the broader NSE Nifty ended lower by 143.85 points or 0.95 per cent at 15,030.95.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 15.69 crore on Wednesday, according to exchange data. PTI MKJ
Gold in the national capital declined Rs 291 to Rs 44,059 per 10 gram on Friday reflecting fall in international prices of the precious metal and rupee appreciation, according to HDFC Securities.
In the previous trade, it had closed at Rs 44,350 per 10 gram.
Silver also tanked Rs 1,096 to Rs 65,958 per kg, from Rs 67,054 per kg in the previous trade.
The Indian rupee jumped 20 paise to trade at 72.71 against the US dollar in opening deals on Friday.
In the international market, both gold and silver were trading lower at USD 1,707 per ounce and USD 25.67 per ounce, respectively.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded lower on Friday with dollar recovery paring some of the weekly gains."
(This story is a compilation of PTI stories)
High US bond yields spooked investors, while rising Covid-19 infections in many states led the markets to close in the red for the fifth consecutive session.
In the initial phase of day's trade, both key indices had a gap up opening after the US Fed said that despite a rise in inflation, the growth will be the highest in the nearly 40 years.
The US Fed confirmed no hike in policy rates, which has come as a big positive for the markets globally.
Nevertheless, the rise in bond yields evoked fear in investors, while some sold on the prospects of incoming foreign funds.
The 30-scrip S&P BSE Sensitive Index (Sensex) traded at 49,216.52 points down by 585.10 points, or 1.17 per cent, from its previous close.
The broader 50-scrip Nifty at the National Stock Exchange (NSE) closed in the red too.
It traded at 14,863.30 points, lower by 163.45 points, or 1.11 per cent, from its previous close of 14,557.85 points.
Gold rose by Rs 105 to Rs 44,509 per 10 gram in the national capital on Thursday, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 44,404 per 10 gram.
"Spot gold prices for 24 carats in Delhi were up by Rs 105 reflecting overnight rally in global gold prices," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Silver also jumped Rs 1,073 to Rs 67,364 per kilogram from Rs 66,291 per kilogram in the previous trade.
Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services, "Gold prices rose after the US Fed in the policy statement yesterday maintained their accommodative stance, hence weighing on the dollar."
After its two-day policy meeting, the US Fed reassured investors that it expects to keep its key interest rate near zero through 2023.
On Thursday's trade, in the international market gold was quoting marginally lower at USD 1,738 per ounce while silver was flat at USD 26.36 per ounce.
"Gold prices traded marginally down with spot prices at COMEX (New York-based commodities exchange) trading at USD 1,738 per ounce on Thursday," Patel added.
The rupee erased some of its initial gains to end 2 paise higher at 72.53 against the US dollar on Thursday, tracking subdued equity market sentiment and a stronger dollar overseas.
Persistent foreign fund inflows and lower crude prices supported the domestic unit, forex traders said.
At the interbank forex market, the local unit opened strong at 72.48 against the greenback but failed to hold on to gains following a massive selloff in the domestic equity markets.
During the session, it witnessed an intra-day high of 72.43 and a low of 72.60. It finally settled 2 paise higher at 72.53 against the American currency. On Wednesday, the rupee had settled at 72.55 against the American currency.
On the domestic equity market front, the BSE Sensex ended 585.10 points or 1.17 per cent lower at 49,216.52, while the broader NSE Nifty dropped 163.45 points or 1.11 per cent to 14,557.85.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.24 per cent to 91.65.
Brent crude futures, the global oil benchmark, fell 0.35 per cent to USD 67.76 per barrel.
Foreign institutional investors remained net buyers in the capital market as they bought shares worth Rs 2,625.82 crore on Wednesday, according to exchange data.
This story is a compilation of 1 IANS story and 2 PTI stories)
The 30-share BSE index ended 280.15 points or 0.56 per cent higher at 50,051.44. The broader NSE Nifty advanced 78.35 points or 0.53 per cent to 14,814.75.
UltraTech Cement was the top gainer in the Sensex pack, rising around 3 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Maruti.
On the other hand, ONGC, PowerGrid, ITC, NTPC, M&M and HDFC were among the laggards.
Domestic equities rebounded sharply despite weak global cues mainly supported by sharp recovery in financial stocks, said Binod Modi, Head - Strategy at Reliance Securities.
"The Supreme Court pronounced that waiver of compound interest during loan moratorium should be for all. While there is still ambiguity about who will be bearing the additional burden, the comfort about the possible end of uncertainty about banks' NPAs led bank stocks to see sharp up-move," he noted.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a negative note. Stock exchanges in Europe were also trading with losses in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 3.53 per cent lower at USD 62.34 per barrel.
Gold prices gained Rs 116 to Rs 44,374 per 10 grams in the national capital on Tuesday reflecting overnight gains in global precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 44,258 per 10 grams.
Silver, however, declined by Rs 117 to Rs 65,299 per kg compared with Rs 65,416 per kg in the previous trade.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold in Delhi were up by Rs 116 reflecting overnight gains in global gold prices despite of rupee appreciation."
The rupee advanced by 3 paise to 72.34 against the dollar in opening trade on Tuesday.
In the international market, both gold and silver were trading flat at USD 1,738 per ounce and USD 25.53 per ounce, respectively.
Lack of fresh triggers has kept the yellow metal volumes muted this week, he added.
The rupee gave up all its intra-day gains to settle 6 paise lower at 72.43 (provisional) against the US dollar on Tuesday, in line with weakness in other peers against the American currency.
However, easing crude oil prices and positive equities lent some support to the local unit and restricted the fall.
At the interbank forex market, the rupee opened flat at 72.37 a dollar. During the session, it witnessed an intra-day high of 72.27 and a low of 72.45.
It finally settled 6 paise lower at 72.43 against the American currency.
In the previous session, the rupee had settled at 72.37 against the US dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.42 per cent to 92.12.
"Indian rupee depreciated on a strong dollar. Further, traders remained cautious ahead of US Federal Reserve Chairman Powell and US Treasury Secretary Yellen testimony before the Committee on Financial Services, US House of Representatives.
"However, sharp fall was prevented on a rise in risk appetite in the domestic markets and softening of crude oil prices. Crude oil prices fell on worries that the slow pace in vaccination programme and the risk of new lockdowns in Europe may hamper economic growth. Rupee may trade in the range of 72.0 to 72.75 in the next couple of sessions," Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas, said.
Meanwhile, global oil benchmark Brent crude futures fell 3.03 per cent to USD 62.66 per barrel.
On the domestic equity market front, the BSE Sensex surged 280.15 points or 0.56 per cent to close at 50,051.44, while the broader NSE Nifty ended higher by 78.35 points or 0.53 per cent at 14,814.75.
Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 786.98 crore, as per exchange data.
(This story is a compilation of three PTI stories)
At the closing bell, the BSE Sensex was quoted at 49,180.31, a drop of 871.13 points or 1.74 per cent its biggest one-day fall Since February 26.
Similarly, the broader NSE Nifty dived 265.35 points or 1.79 per cent to settle at 14,549.40.
In the Sensex pack, all shares closed in the red, barring Asian Paints and PowerGrid.
M&M was the top loser, shedding around 4 per cent, followed by SBI, Axis Bank, ICICI Bank, IndusInd Bank, ITC and L&T.
All sectoral indices ended lower, with BSE realty, metal, auto, bankex, industrials and finance indices falling up to 2.93 per cent.
Broader midcap and smallcap indices fell up to 1.69 per cent.
"Indian market witnessed across-the-board selling amidst high volatility owing to weak global cues and spike in Covid cases. All sectors barring pharma witnessed selling as second and third wave infections in India and Europe, respectively, are bound to hamper economic recovery , Vinod Nair, Head of Research at Geojit Financial Services, said.
Binod Modi, Head Strategy at Reliance Securities, said, "Domestic equities fell sharply on weak global cues and continued apprehensions among investors from surge in coronavirus cases in the country.
India recorded 47,262 fresh coronavirus cases in a day, the highest single-day rise so far this year, taking the nationwide COVID-19 tally to 1,17,34,058, the Union health ministry said on Wednesday.
The daily rise in infections was the highest recorded in 132 days, while the country's COVID-19 death toll increased to 1,60,441, with 275 new fatalities, the highest in around 83 days.
Further, a sharp rebound in dollar index aggravated concerns despite dip in US bond yields and crude prices, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul plunged up to 2 per cent.
Stock exchanges in Europe were also trading on a negative note in mid-session deals.
On the domestic forex market front, the rupee fell by another 12 paise to end at 72.55 against the US dollar.
Meanwhile, the global oil benchmark Brent crude was trading 2.78 per cent higher at USD 62.48 per barrel.
Gold dipped by Rs 149 to Rs 44,350 per 10 gram in the national capital on Wednesday, reflecting overnight fall in global precious metal prices, according to HDFC Securities.
In the previous trade, it had closed at Rs 44,499 per 10 gram.
Silver also declined Rs 866 to Rs 64,607 per kg, from Rs 65,473 per kg in the previous trade.
In the international market, gold was trading marginally higher at USD 1,729 per ounce and silver was flat at USD 25.12 per ounce.
"Gold prices has kept downside limited on pandemic worries despite of dollar rally," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
The rupee weakened by another 12 paise to close at 72.55 (provisional) against the US dollar on Wednesday, weighed down by a massive selloff in domestic equities and spike in global crude oil prices.
Besides, strengthening American currency in the overseas market amid foreign fund outflows also impacted the domestic unit, forex dealers said.
At the interbank forex market, the domestic unit opened weak at 72.51 against the US dollar. During the session, it swung between a high of 72.51 and a low of 72.69.
The rupee finally settled at 72.55, registering a fall of 12 paise over its previous close.
On Tuesday, the domestic unit had settled at 72.43 against the American currency.
On the domestic equity market front, the 30-share BSE benchmark Sensex crashed 871.13 points to end at 49,180.31, and the broader NSE Nifty dived 265.35 points to 14,549.40.
Global oil benchmark Brent crude advanced 3.08 per cent to USD 62.66 per barrel.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.13 per cent to 92.46.
Foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth Rs 108.24 crore, as per exchange data.
(This story is a compilation of three PTI stories)
The 30-share BSE index ended 740.19 points or 1.51 per cent lower at 48,440.12, and the broader NSE Nifty declined 224.50 points or 1.54 per cent to 14,324.90.
Maruti was the top loser in the Sensex pack, shedding around 4 per cent, followed by Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC and Reliance Industries.
On the other hand, Dr Reddy's, ICICI Bank, L&T and HDFC were the gainers.
Domestic equities fell as prevailing concerns with regards to sharp rise in COVID-19 cases have clearly dented investors' sentiments, said Binod Modi, Head - Strategy at Reliance Securities.
Barring financials and metals, all key sectoral indices ended in red.
Further, futures and options (F&O) expiry factor also contributed to volatility, he noted, adding that market capitalisation of domestic market slipped below Rs 200 trillion first time after February 3, 2021, resulting in wealth erosion of over Rs 5 trillion in last two days.
Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red, while Tokyo and Seoul ended on a positive note.
Stock exchanges in Europe were trading with losses in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 1.35 per cent lower at USD 63.54 per barrel.
Gold gained Rs 44 to Rs 44,347 per 10 gram in the national capital on Thursday, supported by weaker rupee and overnight gain in global precious metal prices, according to HDFC Securities.
It had closed at Rs 44,303 per 10 gram in the previous trade.
Silver, however, dipped Rs 637 to Rs 64,110 per kg, from Rs 64,747 per kg in the previous trade.
The Indian rupee furthered its loss by another 7 paise to 72.62 against the dollar in early trade on Thursday amid growing concerns over surging coronavirus cases in India and some other parts of the world.
In the international market, gold was quoting marginally lower at USD 1,733 per ounce and silver was flat at USD 24.97 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded steady with spot gold prices at COMEX (New York-based commodities exchange) trading near USD 1,733 per ounce on Thursday."
Dropping for the third consecutive day, the Indian rupee fell by 7 paise to close at 72.62 against the US dollar on Thursday amid concerns over surging coronavirus cases in India and some other parts of the world.
At the interbank forex market, the rupee opened lower at 72.68 a dollar, but recouped some of its losses during the session to close at 72.62, still down by 7 paise.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 92.66.
Global oil benchmark Brent crude futures fell 1.40 per cent to USD 63.32 per barrel.
Analysts believe that volatility will stay in the market for sometime due to the uncertainty caused by the second wave of COVID-19 in India and a third wave in parts of Europe.
On the domestic equity market front, the BSE Sensex slumped over 740 points or 1.51 per cent to close at 48,440.12, while the broader NSE Nifty dived 224.50 points or 1.54 per cent to 14,324.90.
Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth Rs 1,951.90 crore, as per exchange data.
"Down trend continued in rupee for the third day in row following weakness in equities and increase in virus cases...With country battling a second wave of the pandemic and fund outflows ahead of financial year end, near-term risks are skewed to a higher dollar," said Dilip Parmar, Research Analyst, HDFC Securities.
Dollar index has been placed above key 200-day moving average resistance level at 92.63, with the dollar up against all G10 currencies amid risk-averse sentiments.
Spot USD-INR is expected to hold support of 72.26 and resist around 72.85, he added.
Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas, said, "Indian Rupee depreciated on strong dollar and risk aversion in the global markets. Market sentiments are hurt on concern that new wave of COVID-19 infections across Europe may push authorities to implement new lockdowns hampering economic recovery, fear over potential US tax hikes, escalating tension between west and China."
Additionally, Rupee slipped on concern over rising COVID-19 cases in India. However, sharp downside may be prevented on softening of crude oil prices. Rupee may trade in the range of 72.30 to 73.0 in next couple of sessions, he added.
(This story is a compilation of three PTI stories)