Terrible Tuesday! Sensex tanks 509 points after rupee strikes new record low at 72.74 vs USD
Share Market Live: Indian stock markets (Sensex and Nifty) registered massive losses on Tuesday after the Indian rupee struck new record low at 72.74 vs US dollar with Sensex falling 509 points and Nifty concluding below 11,300 at 11,287.50.
Share Market Today: Earlier yesterday, BSE Sensex plunged more than 500 points intraday and closed below 38,000 level for the first time in three weeks. (Image: Reuters)
Share Market Today: Indian stock markets (Sensex and Nifty) registered massive losses on Tuesday after the Indian rupee struck new record low at 72.74 vs US dollar with Sensex falling 509 points and Nifty concluding below 11,300 at 11,287.50. During the day, in the late trading, the S&P BSE Sensex slipped as much as 561 points to a day’s bottom of 37,361.20 while NSE Nifty tripped 164.1 points to a day’s low at 11,274. According to the Bloomberg data, the Indian rupee slumped as much as 29 paise to a new all-time trough of 72.7388 per unit US dollar.
The market sentiments were cautious ahead of the major macroeconomic data scheduled to be released tomorrow including IIP and CPI inflation and the domestic currency (rupee) hitting a fresh lifetime low against US dollar seemed to have battered the situation further. Shares of ITC, HDFC Bank, RIL, HDFC, TCS, ICICI Bank were the major negative point contributors to the key equity indices Sensex and Nifty. ITC shares were the biggest drag Sensex and Nifty on Tuesday after the stock of India’s largest FMCG company tanked a little more than 3% in the trade following the weakness in most of the consumer goods shares.
Indian equities went flat after opening marginally higher on Tuesday with Infosys shares leading and ITC shares lagging among all the components of BSE Sensex index. Asian shares were struggling to avoid a ninth straight session of losses on Tuesday as the spectre of a Sino-US trade war haunted investors, while the pound perched near a five-week top on hints a Brexit deal might be nearer, Reuters said in a report.
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Earlier yesterday, US stocks mostly edged higher with the S&P 500 and Nasdaq rebounding to snap a four-day losing streak, although a drop in Apple kept gains in check, a Reuters report said. The Dow Jones Industrial Average fell 59.47 points, or 0.23% to 25,857.07, the S&P 500 gained 5.45 points, or 0.19% to 2,877.13 and the Nasdaq Composite added 21.62 points, or 0.27% to 7,924.16.
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