Market LIVE: SGX Nifty signals gap-down start for Sensex, Nifty; RBI allows exporters to settle trade in rupee

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were staring at a gap-down start on Tuesday, as suggested by SGX Nifty in early trade. Nifty futures were trading 108.50 points or 0.7 per cent down at 16,090 on Singaporean Exchange. In the previous session, S&P BSE Sensex fell 87 points or 0.16 per cent down at 54,395, while NSE Nifty 50 settled at 16216, down 4 points. Asian stock markets were trading weak in early trade on Tuesday, after Wall Street ended lower ahead of economic data and earnings. Japan’s Nikkei 225 declined 1.54 per cent, while the Topix index fell 1.36 per cent. On Wall Street, the Dow Jones Industrial Average lost 164.31 points, or 0.52%, the S&P 500 slipped 1.15% to 3,854.43, and the Nasdaq Composite shed 2.26% to 11,372.60.

The Reserve Bank of India (RBI) has put in place a mechanism under which the final settlement of export and import payments by Indian traders can be made in rupee. Besides helping curb demand for foreign exchange and, thereby, support the Indian currency, the move will also facilitate unhindered trade with sanctions-hit Russia and trouble-torn Sri Lanka.