Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.
The US Fed’s policy decision and commentary led to foreign investors heading to the exit door here.
Month-end demand from importers for the US currency is at work, forex dealers said. The dollar’s gains against other currencies overseas put the squeeze on the local unit.
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Yesterday, the rupee plunged 27 paise to end at 65.72.
Meanwhile, the benchmark Sensex fell further by 44.27 points, or 0.14 per cent, to 31,115.54 in the opening trade today.
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