Sensex & Nifty Fall With Major Losses As Indian Rupee Dips Further Against US Dollar

The Indian equity markets have once again started another week with deep cuts. After enjoying a relatively green week last week, with gains of over 1 per cent at the NSE and BSE indices, the Indian equity markets look set to lose the gains made in the recent period.

This comes at a time of growing uncertainties in the global trading paradigm, as Donald Trump and the United States' new trade decisions create volatility.

Indian Rupee In Decline

This also perhaps explains the larger decline of the Indian Rupee. The nation's currency took another hit, as it slipped to another all-time low on Monday, hitting 87.90 against the United States Dollar.

At the time of writing, as seen in the graphic above, the Indian Rupee bettered its position slightly, trading at 87.58 against the US Dollar.

Sensex

When we take a closer look at the Indian equity markets, the BSE Sensex declined significantly.

The marquee index dipped by 675.76 points or 0.87 per cent. This took the overall of the index to 77,184.43 points.

Nifty

The affairs at the National Stock Exchange or NSE were no different, as the benchmark Nifty index declined to 23,352.65 points.

This came to pass after a decline of 207.30 points or 0.88 per cent.

Nifty Bank & Banking Shares In Disarray

The banking index, Nifty Bank was no different either, as the index dropped in value. Here, the Nifty Bank index dropped to 49,851.65, after suffering a decline of 307.20 points or 0.61 per cent.

This is a crucial time for banking shares, as this is the first week after RBI's MPC policy last week. Major banking stocks, including, IDFC First, AU Bank, Canara Bank, HDFC Bank and others were trading in red with losses.

Meaning, amongst the gainers, SBI made marginal improvement, with Kotak Mahindra Bank leading the pack with gains of under 1 per cent.