Sensex Plummets Over 550 Points, Rupee Falls 59 Paise Against Dollar
New Delhi: The Benchmark BSE Sensex slipped by over 550 points on Monday as investors turned apprehensive over exit poll results ahead of the outcome of assembly elections in five states amid weakening rupee, rising crude oil price rise and escalating US-China trade tension.
The 30-share BSE index slipped 551.74 points or 1.55 % to 35,121.51 in the opening session. Similarly, the NSE Nifty slumped 172.95 points or 1.62 percent to 10,520.75.
The top losers include Reliance Industries, Adani Ports, PowerGrid, Coal India, Asian Paints, Kotak Bank, ONGC, Vedanta, Yes Bank, Bharti Airtel, Hero MotoCorp and ICICI Bank, falling up to 4%.
Furthermore, the rupee depreciated by 59 paise to 71.40 against the US Dollar in early trade on Monday, at the interbank foreign exchange amid the strengthening American currency against overseas currencies.
Forex dealers stated that increased demand for the American currency from importers, increasing global crude oil prices weighed heavily on the domestic unit.
Meanwhile, Brent crude, the international benchmark, was trading 0.68 percent up at $62.09 per barrel.