The domestic stock market indices ended up lower for two straight days as the worries about new US tariffs covered up the positive signals from the global markets. Major selling in heavyweight stocks Reliance Industries and Trent led to the downturn in market mood.
Reliance shares were under pressure after it was said that the company was bringing in oil from Russia despite the international sanctions. The company refuted the allegations, but the stock price still slid down by 5% during the day and finally closed at ₹1,508.90, a loss of 4.39%. Trent’s stocks plummeted to ₹4,055, that is an 8.46% loss, on disappointing third-quarter revenue results.
BSE Sensex started trading at 85,331.14 and lost ground mainly to be at 84,900, eventually closing at 85,063.34, which is 376.29 points lower than yesterday’s close. The NSE Nifty 50 declined as well, closing at 26,178.79, which is a drop of 71.60 points.
When one tries to place the economic situation in a larger context then one Indian rupee was equivalent to 90.16 US dollars. The rate of Brent crude oil was $61.84 per barrel for the whole month. In addition, the price of gold was $4,449 per ounce.
