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Why the rupee is on a slippery wicket March 01, 2021 × The rupee’s sudden fall on Friday, amounting to 1.4 per cent, took the currency market by surprise. The Indian currency had been gradually appreciating against the dollar since the beginning of this year, gaining almost one per cent, until February 25. The rupee’s strength was mainly due to the weakness in the dollar and foreign portfolio inflows in the equity market. But the mayhem in financial markets towards the end of last week has reversed these gains. While the rupee has been steadily appreciating against the greenback since la...

Broad-based buying was visible in the market with banking shares leading gains. Nifty Bank, the banking sub-index of NSE, was up 1.79%.

Except for IT, most other sectors witnessed buying today with metal stocks leading the rally. Nifty Metal, the metal sub-index of NSE, rose nearly 2%.

Among Nifty stocks, M&M was the top loser, down 4.6%. ITC, Axis Bank, SBI Life insurance, L&T, Dr Reddy's Lab were the other prominent losers in the Nifty.

The Nifty maintained positive bias for most part of the previous trading day and ended at the high point. It snapped it 2 day losing streak and was led higher by shares of Reliance Industries.