LIVE: Sensex, Nifty Resume Decline After Day's Pause; Reliance, ITC Top Drags
The Indian equity benchmarks resumed decline after a day's pause in the previous session dragged by losses in heavyweights such as Infosys, Reliance Industries, ITC, HDFC, Larsen & Toubro, Tata Consultancy Services and Maruti Suzuki. For most part of the day benchmarks traded firmly higher but selling pressure in the last hour of trade around resistance levels of 17,600 on Nifty led to sharp correction in the markets, analysts said.
Meanwhile, the government is likely to bring a bill in the winter session of the parliament, that will begin on November 29, 2021, to bar all cryptocurrencies in India, barring a few exceptions, and create a framework to regulate digital currency issued by the Reserve Bank of India (RBI).
In response, all major digital currencies saw a fall of around 15 per cent and more, with Bitcoin down by around 18.53 per cent, Ethereum fell by 15.58 per cent, and Tether down by 18.29 per cent. In other news, petrol and diesel prices were kept unchanged for the 20th consecutive day on Wednesday.
