Stock Update: The share market opened on the green mark on Tuesday after Monday’s historic decline. Sensex opened at 1450 and Nifty 405 points. Earlier on Monday, the Sensex dipped by 3934 points to close at 25,981.24. The Nifty had closed at 7634 levels, sinking 1110 points. At the same time, after falling more than 10 percent, the share market had to install a lower circuit and the business had to be closed for 45 minutes.
Sensex 778.31 points higher, at 26,759.55; Nifty 306 points up, at 7,916.55 pic.twitter.com/u2RSeeC6nyAdvertisement
— ANI (@ANI) March 24, 2020
At the same time, the rupee strengthened 18 paise against the US dollar with a slight increase in early trade on Tuesday. The rupee opened at 76.02 in the foreign exchange market. The rupee had closed at 76.20 on Monday against the dollar.
Traders said investor sentiment improved after the Reserve Bank‘s effort to boost liquidity on Monday. He said that the RBI will conduct a short-term convertible repo auction of Rs 1 lakh crore.
The repo auctions will be conducted in two phases. The first repo auction of Rs 50,000 crore was held on Monday. The second installment of the Rs 50,000 crore repo auction will be held on Tuesday.
However, traders said that there is still concern over the impact of the coronavirus epidemic on the domestic and global economies. The number of deaths worldwide from the coronavirus has exceeded 16,000. According to Health Ministry data, there have been about 500 cases of coronavirus in India so far.
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