- Indian rupee plunges to record low of 62.45 against dollarAs Indian rupee, BSE Sensex crash, Kaushik Basu gives economy a boost, says, 'IMF loan not needed'Indian rupee, rupiah lead emerging market slide on US Fed stimulus fearsFreefalling BSE Sensex drops another 290 pts as Indian rupee hits record low of Rs 63 to US dollar
In line with a weak stock market where benchmark Sensex plunged nearly 300 points, as many as 263 stocks hit their respective one-year lows on BSE today.
Bluechips SBI, ICICI Bank, Punjab National Bank (PNB), Larsen & Toubro, HDFC Bank, BHEL and Jaiprakash Associates were among the stocks that touched their 52-week.
Shares of SBI fell 2.60 per cent to Rs 1,530.40, while ICICI Bank was down 5.07 per cent to Rs 815.10.
PNB slipped 4.04 per cent, L&T (2.43 per cent), HDFC Bank (0.93 per cent) and BHEL (2.45 per cent).
In contrast, 39 stocks, including HPC Biosciences and Lifeline Drugs, scaled their one-year high.
In the broader market, the Sensex ended the day at 18,307.52, down 290.66 points or 1.56 per cent.
"Carnage continued in markets as Nifty slipped nearly two per cent and breached the psychological mark of 5,400.
"Though several measures were announced by the RBI in the recent past but as of now, the relentless decline in rupee is not showing any sign of slowing down and testing new lows with every passing day," said Jayant Manglik, President Retail Distribution, Religare Securities.
"On technical front, 5,300 spot is the next crucial support so we may see some pause around that zone. Any recovery will be short-lived until some considerable changes in macroeconomic won't take place," he added.
Among the 30-Sensex components, 24 of them ended the day with losses, led by Bharti Airtel that tanked 5.51 per cent.
Besides, 11 of the 13 sectoral indices also saw weakness and fell in the range of 0.26-3.40 per cent.
The rupee today breached the 63-mark against US dollar in fag-end trade at the Interbank Forex market despite a number of steps from RBI to curb the currency free-fall.
To curb dollar outflows, RBI on August 14 announced stern measures, including curbs on Indian firms investing abroad and on outward remittances by resident Indians.