Sensex, Nifty Fall As Rupee Hits Record Low Of 72.67
Mumbai: BSE Sensex fell by 468 points or 1.22 percent to end below the 38,000 mark on Monday. The 30-share index closed at 37,922.17 which is the biggest single fall since March 16 when the Sensex had stooped by 509.54 points.
The 50-share Nifty also plunged by 151 points or 1.30 percent to close at 11,438.10- slipping below the 11,500 mark. This is the biggest single fall in the Nifty since February 6.
On the other hand, the Indian Rupee touched a record low of Rs 72.67 against the US Dollar, widening current account deficit that alarmed inveators.
Moody’s Investors Service has said that the depreciation of Rupee will impact the Indian companies which generate revenue in rupees but depend on US Dollar debt for their operations.
So far, fhe value of Indian Rupee has depreciated bu 13 percent sincr January this year. Market analysts have opined that the rising crude oil prices are being further impacted by falling stocks and domestic currency.