Markets open in red losing 450 points; rupee appreciates against dollar

Guwahati: The Indian equity markets opened in the red, shedding about 400 points in the first transaction as a result of subpar global signals.

The 30-share Bombay Stock Exchange Sensex, which was trading at 55622.11 at 10 a.m., dropped 450 points, while the Nifty, which was trading at 16591, lost 120 points.
The impact of the results on the markets caused them to start the new week on a shaky note.
Reliance was the biggest loser on the Sensex, falling 2.5% after brokerages lowered their earnings forecasts for the business following its Q1 shortfall.

The other top losers were ICICI Bank, Bajaj Finance, and Tata Steel, while the top winners were Tech M, Infosys, Ultratech Cement, Kotak Bank, and TCS.
Among other equities, GAIL increased by more than 1%. The business said that it would think about paying dividends on July 27.

The decline in crude oil prices helped the rupee gain 9 paise to 79.81 against the US dollar in early trade on Monday.
The opening rate of the rupee versus the dollar at the interbank foreign exchange was 79.86.

The rupee's closing price versus the dollar in the previous session was 79.90.