Latest Stock Market News

The Dow Jones Industrial Average rose 104.4 points, or 0.30%, at the open to 34,412.51.

The market is likely to stay cautious as the world markets will continue to function and the Indian markets would be closed. The Bank Nifty relatively outperformed the Nifty, but this may not continue for long.

In the international market, gold was trading marginally higher at USD 1,954 per ounce and silver was flat at USD 25.07 per ounce.

In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast.

The turmoil in the US bond market and the ripples it is likely to send across to India make a case for stock market bulls to take a step back and be more circumspect about future returns, equity analysts said.

The partially convertible rupee opened at 76.0200/$1 versus 75.9500/$1 at previous close. Tuesday’s opening marks the first time that the currency breached the 76/$1 mark since March 29.

The Nifty Pharma index closed 0.67 per cent down at 13744.65.

At the interbank foreign exchange market, the rupee opened at 76.05 against the American currency and settled at 76.14, down 23 paise from the previous close.

Though, Nifty50 support is at 17,400 level, Shetti said, there is a possibility of further weakness in the short term. For the day, the index closed at 17,530.30, down 144.65 points or 0.82 per cent.

"The window for accepting original certificates shall remain open from April 1, 2022 to June 30, 2022," the Securities and Exchange Board of India (Sebi) said in a press release.