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 depreciated by 10 paise to 67.52 against the US dollar in early trade today ahead of release of key IIP and inflation data.
Dealers attributed the rupee’s fall to fresh demand for the US currency but a higher opening in domestic stocks limited the fall.
Major currencies were mostly weak against the US dollar overseas as a historic US-North Korea summit got underway in Singapore.
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Yesterday, the rupee had ended 8 paise higher at 67.42 against the US currency, cutting short its two-day decline.
Meanwhile, the benchmark BSE Sensex was trading higher by 84.35 points, or 0.23 per cent, at 35,567.82 in opening deals.
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