Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
For the year as a whole the price is expected to average $1,270, which compares with the year-to-date average of $1,289.
Analysts attribute this volatility to selling by FPIs and FIIs.
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The broader markets, however, outperformed the benchmark indices -- BSE Midcap and Smallcap indices ended up 0.6%-1%.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
Indian rupee appreciated by 35 paise to end at two-week high of 63.03 against the greenback.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
In absolute terms, the year closed with the market capitalisation of all BSE-listed companies rising by Rs 45.5 lakh crore to Rs 152 lakh crore, or an increase of 42.8 per cent, compared to the closing value on December 30, 2016, says Pavan Burugula.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Can the poll outcome be a trigger for a meaningful correction?
The rally in index heavyweight ITC has boosted the sentiment across the board.
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
Ending a four-day upmove, the rupee on Tuesday retreated four paise from its 11-month high levels to close at 58.63 against the dollar on fresh demand for the US currency from importers, amid some profit-booking in stocks.
The winter session of Parliament will commence on November 26.
The value of the index, adjusted from its all-time high for the relative loss in the rupee's value, is close to sub-10,000 levels.
After another day of volatile trade, the rupee today appreciated by seven paise to close at a new one-month high of 59.04 against the dollar as the RBI's liquidity-tightening measures continued to lend support.
Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.
Experts say the stock market correction in recent times increases the risk-reward in favour of large-cap stocks.
Financials emerged as the top gainers while auto shares rallied on robust September sales
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
Participants are keenly waiting for the January IIP.
'The good news is that money continues to flow into India-focussed offshore funds.'
The Nifty has gained 2.6% so far this week, while the Sensex has climbed 2.85%
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
Indian market probably has more headroom than the US, says Geoff Lewis, senior strategist for Asia, Manulife Asset Management.
Anaysts recommend a 'buy' on Icra due to its positive outlook.
Anaysts recommend a 'buy' on Icra due to its positive outlook.
In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
Volatility might continue as the Chinese market is expected to open sharply lower, following a long break
A mixed global trend and weakness in rupee influenced the sentiments during the day.
SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances