Benchmark indices face first weekly decline, steepest in 20 weeks
Sensex and Nifty faced their first weekly decline after four weeks of gains on Friday. The Sensex dropped to a low of 72,485 while the NSE Nifty 50 dipped to a low of 21,932.
The Rupee was trading lower by 20 paise at 64.51 against the US Dollar in early trade on Tuesday at the forex market on increased demand for the American currency from importers amid sustained foreign fund outflow.
The Dollar gained strength against other currencies overseas as investors raised expectations of another US interest rate hike next month which weighed on the domestic unit, forex dealers said.
However, a higher opening in the domestic equity market restricted the rupee's losses.
Advertisement
On 8 May, the Rupee had gained 7 paise at 64.31 on bouts of Dollar selling by exporters and banks amid firming equities.
Meanwhile, the benchmark BSE Sensex rose 76.39 points, or 0.26 per cent, to 30,002.54 in early trade on Tuesday.
Advertisement