The Asian markets trend on thursday showcases a weak performance. Unabated foreign funds outflow coupled alongside this led the Sensex to drop down by 250 points, landing at around 77900. Meanwhile Nifty went down by 82 points, resting at 23605.25.

Looking at the sensex, 23 out of the 30 listed stocks were in the red, these key provisions include Tata Motors, L&T, Zomato, Sun Pharma, Tata Steel, Power Grid, SBI, Bajaj Finance and ICICI banks. But in stark contrast, Kotak Bank, M&M, Infosys, Asian Paints and ITC saw a gaint of roughly 1.5 percent. Only 9 out of the listed 50 stocks managed to avoid the losses.

Nifty small cap and nifty mid cap saw a slight movement downwards as the sentiment among the investors sobriety index dropped by 0.28 percent alongside with a 0.06 dip in the support index.

Sectoral outlook

The Nifty Media Index’s growth of 1 percent was unmatched, being the highest when peered against all other indices, but the Nifty FMCG Index managed to surrive by gaining 0.1 percent. Unfortunately the situation was quite unfavourable for all other indices, as they were in the red. The performance of the Nifty Realty index was quite sub par as it suffered a loss of 1.4 percent, being followed by the Nifty Metal Index which suffered a 0.5 percent loss and lastly the Nifty Bank Index which suffered a 0.3 percent loss.

Rupee against dollar

The depreciation of the rupee against the dollar keeps getting worse as it hit its all time low mark of 85.92 pre market on Thursday, this being the third continuous fall, could be gepgd on a stronger US dollar and heightened crude oil prices.

Diversification of funds out of foreign corporations along with high US bond prices were able to aid the US dollar push. While the rupee kept losing value due to the negative performance of the equity markets in the domestic front. Opening at bombard exchange of 85.94, the rupee then fell to 85.92 against the dollar and experienced a slight drop of 1 paisa compared to the closing of the previous day.