The rupee on Monday crashed 113 paise — the biggest single-day drop in the past six years — to close at a five-month low due to heavy capital outflows by investors anxious over US-China trade tensions, a sharp devaluation in yuan and uncertainties over the Kashmir issue.
The Sensex and Nifty saw an intense volatility throughout the session. With Monday’s fall, the Nifty is just 0.05 point away from erasing the entire gains for 2019. Gold prices in India jumped over 2% to record levels. Oil prices were also hit due to global headwinds.
Read Next
