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 ongoing political churn in the UK cast its cloud on the Rupee as it depreciated 15 paise to 64.39 against the US Dollar in early session on Monday ahead of release of key IIP and inflation data later in the day.
Dealers attributed the Rupee's fall to fresh demand for the US currency and a lower opening in domestic stocks, too.
Major currencies mostly made marginal gains against the US Dollar overseas as the pound stabilised after a dive amid the electoral tumult last week, which limited the Rupee's fall, they said.
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On 9 June, the Rupee had lost 3 paise to close at 64.24 against the US currency, cutting short its two-day rise.
Meanwhile, the benchmark BSE Sensex was trading lower by 155.91 points, or 0.49 per cent, at 31,106.15 in opening deals.
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