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Rupee gains, closes at 86.9 as RBI intervenes
The New Indian Express Belagavi
|February 12, 2025
Benchmark indices BSE Sensex and NSE Nifty50 plunged by nearly 1.3% each
DOMESTIC equity market extended its losing streak for the fifth consecutive session on Tuesday. Benchmark indices, the BSE Sensex and NSE Nifty50, plunged by over 1.3% each.
The ongoing bearish trend has wiped out a staggering ₹19 lakh crore in just five sessions, driven by escalating global trade tensions. The latest trigger was US President Donald Trump's decision to impose a 25% tariff on steel and aluminum imports. Additionally, the continuous outflow of foreign institutional investors (FIIs), the weakening rupee, and disappointing corporate earnings have exacerbated the market's downturn.
Sensex tumbled as much as 1,018.20 points, or 1.32%, to settle at 76,293.60 on Tuesday. In the past five sessions, the 30-share index has shed 2,290 points. The NSE Nifty50 fell 309.80 points, or 1.32%, to close at 23,071.80. On Tuesday, investors lost ₹9 lakh crore as the market capitalization of all BSE-listed firms came down to ₹409.26 lakh crore from ₹418.56 crore in the previous session.
This story is from the February 12, 2025 edition of The New Indian Express Belagavi.
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