Sensex dips 200 pts on falling rupee
Besides, the falling rupee added to investor woes, especially those who have parked funds in imports-linked sectors. The rupee fell to 28-month low at 49.90 per dollar and was the worst performer among Asia's 10 most-traded currencies, brokers said.
Metals, capital goods, auto, consumer durables, banking and refinery stocks were hit hard.
RIL, HDFC Bank, HDFC, L&T, Tata Motors, Infosys, Tata Steel and Hindalco contributed over 150 points to the fall.
After falling 704 points yesterday, the worst single day performance in 26 months, the 30-share BSE barometer opened weak and dipped to a low of 16,052.47, losing 300 points on the back of weak Asian trend as US markets plunged.
However, there was some buying by domestic funds at lower levels amid positive openings in European markets as G-20 group of countries said they will work together to resolve the debt problems.
Sensex rebound to a high of 16,368.41, but fell again on late profit-booking to close at 16,162.06, down 199.09 points or 1.22 per cent.
The broad-based NSE 50-issue Nifty today slumped 55.90 points or 1.14 per cent to close at 4,867.75.
Globally, Dow Jones and Nasdaq plunged 3.51 per cent and 3.25 per cent yesterday. The US Federal Reserve has given a gloomy view on the American economy. Besides, weak