Mumbai. Domestic stock markets and the rupee witnessed an initial decline on Monday due to increasing tension between the US and Iran over the Strait of Hormuz. BSE’s 30-share sensitive index Sensex opened 1,613.09 points down at 75,937.16 points. At the time of writing, it was down 1,530.50 points at 76,019.75. The rupee also came under pressure after America’s statement of taking control of the Strait of Hormuz.
In the interbank currency market, the rupee is currently down by 55 paise at Rs 93.38 per dollar. Like the Sensex, the Nifty-50 index of the National Stock Exchange also slipped 461 points and opened at 23,589.60 points. At the time of writing, it fell 456.60 points to 23,549 points. Indices of banking, finance, auto, realty, oil and gas and chemicals groups fell more than two percent.
FMCG, IT, media, health and consumer durables groups declined by one to two percent. Apart from Sun Pharma, all the Sensex companies are under pressure at present. Shares of IndiGo fell by more than six per cent, Maruti Suzuka by more than four per cent and shares of L&T, Asian Paints, Bajaj Finance and Adani Ports by three to four per cent. State Bank of India, HDFC Bank, Trent, UltraTech Cement, Eternal, Axis Bank and Airtel fell by two to three percent.
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