
Markets accord red welcome to FY21
Day 1 of the new fiscal saw benchmark indices in the red all through the day; they closed 4% lower.
Day 1 of the new fiscal saw benchmark indices in the red all through the day; they closed 4% lower.
While broader indices Sensex and Nifty 50 fell over 701 and 214 points respectively in intraday trade, S&P BSE MidCap and SmallCap fell 2.15% and 2.59% to record new 52-week lows.
Profit declines 9.8% in September quarter as higher commodity prices and a weaker rupee hit demand.
Unlike importers, exporters can benefit from a depreciating rupee.