Tuesday, September 3, 2013

Rupee Falls To 68 Against USD, Sensex down by 500

MUMBAI: The BSE sensex on Tuesday tumbled nearly 559 points on fund outflows as rupee dips below 68 per dollar.

Earlier, the sensex plunged by 390.10 points, or 2.2% to 18,496.03 with all the sectoral indices losing up to 2.67%.

Similarly, the broad-based National Stock Exchange index Nifty dropped by 129.20 points, or 2.3% to 5,421.55 driven by stocks of HDFC, ITC and RIL.

Brokers said investors confidence remained jittery as the rupee again dipped below 67 per dollar, raising fears of widening fiscal deficit.

They said funds were also active and booked profits following four sessions of gain in front-runner stocks.

The heaviest on the benchmark with their nearly 20% weightage - Reliance Industries plunged 3.93% to Rs 849 and ITC by 2.79% to Rs 310.50. The HDFC, also a index kitty stock, dropped by 4.21% to Rs 704.75.

Shared From Times Of India

Latest News

LOADING LATEST NEWS....

Loading Blog Posts...

Loading Images...

Loading Videos...

Unknown

- Unknown Updated at: Tuesday, September 03, 2013

Thursday, June 20, 2013

Market : Rupee Falls Down again, closing to Rs 60 against USD

The rupee trimmed its early losses but was still quoted lower by 83 paise to 59.53 per dollar after hitting 60-level on strong demand for the American currency from banks and importers amidst sharp fall in equity market.

Persistent capital outflows from foreign funds also affected the market sentiment.

The rupee resumed lower at 59.50 per dollar against the last closing level of 58.70 per dollar at Interbank Foreign Exchange (Forex) Market and dropped further to an all-time low of 60.00 per dollar before quoting at 59.53 per dollar at 1040 hrs.

In New York, the US dollar surged yesterday after Federal Reserve Chairman Ben Bernanke said the central bank could slow the pace of its bond-buying programme later this year if its economic forecasts are accurate.

The Indian benchmark Sensex fell below the 19,000 level due to all-round selling pressure as the rupee hit record low against the dollar coupled with lower global cues. The Sensex dropped by 401.81 points, or 2.09%, to 18,843.89 in the late morning trade.