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 weakened further by 9 paise to 64.27 against the US Dollar in early trade on Friday at the forex market on increased demand for the American currency from importers and banks.
Besides, strength in the US Dollar against some other currencies overseas also weighed on the domestic currency.
Dealers attributed the Rupee's fall to increased demand for the US currency and a lower opening in the domestic equity market.
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On 4 May, the Rupee had shed 3 paise to close at 64.18 against the US Dollar on fresh demand for the Dollar.
Meanwhile, the benchmark BSE Sensex fell 133.04 points, or 0.44 per cent, to 29,993.17 in early trade on Friday.
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