Indian equities fall 70 pts; rupee hits record low

The Indian rupee ended at 68.94 against US dollar yesterday, breaching its earlier record low (on closing basis) of 68.82, hit on August 28, 2013.


Weak sentiments in the benchmark Asian markets subdued the key Indian equity indices yesterday.

According to market analysts, investor sentiments in the Asian markets were eroded due to the ongoing trade war between the US and China.

In the domestic front, a weakening rupee against the dollar also weighed on the equity market, analysts said, adding that heavy selling pressure was witnessed in consumer durables, IT and metal stocks.

At 3.30pm, the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,749.75 points, lower by 20.15 points or 0.19% from its previous close of 10,769.90 points.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,703.17 points, closed at 35,574.55 points (3.30pm), down by 70.85 points or 0.20% from its previous session’s close of 35,645.40 points.

Sensex has so far touched a high of 35,748.26 points and a low of 35,517.79 points during the intra-day trade. The BSE market breadth was bearish with 1,555 declines and 1,055 advances.

The top gainers on the Sensex were Yes Bank, ITC, Asian Paints, Coal India and Bajaj Auto whereas Infosys, Vedanta, Tata Steel, Tata Motors (DVR) and Reliance Industries were the major losers. On the NSE, Yes Bank, Ultratech Cement and ITC were the highest gainers while Infosys, Titan and Vedanta lost the most.

Meanwhile, the Indian rupee yesterday closed at a record low against US dollar, tracking losses across Asian peers as traders were cautious ahead of China and US tariff implementation and release of key data from the US. The rupee ended at 68.94 against US dollar, breaching its earlier record low (on closing basis) of 68.82, hit on 28 August 2013.

This article provided by NewsEdge.