Sensex dips below 24K mark; Rupee slumps again

SansadTV Bureau

BSE-Stock-Exchange,-Shares,-Financial-Markets,-Trading-4Following its slide past the 68-mark on Wednesday, Rupee closed at Rs. 68.02/US Dollar. Though it was able to recover a bit last evening as it closed at 67.95, the global economic woes extended the loss. This is the lowest fall in the value since August 2013 – a fresh 29-month low.

The benchmark BSE Sensex also slumped below 24,000-mark for the second straight day on Thursday closing at 23,962, ending lower by 99.82 points or 0.41 per cent.

Persistent foreign capital outflows also affected the market sentiment, a forex dealer said. Rupee, though resumed higher at 67.88 per dollar as against Wednesday’s closing level of 67.95 at the Interbank Foreign Exchange (Forex) market, it later fell to 68.11. However, it was able to cut down its losses ending at 68.02 per dollar.

Pramit Brahmbhatt, CEO of Veracity Group, said, “Following volatile global equity market, the rupee traded with great volatility for the day, which opened on a positive note below 68 levels. But ‘sell-off’ in equity market forced the rupee to trade with negative bias”.

It had last ended at 68.80 per dollar on 28th August 2013.

The domestic currency has lost 37 paise or 0.55 per cent in two days. The domestic unit hovered in a range of 68.11 and 67.8150 during the day.

The dollar index was down by 0.02 per cent against a basket of six currencies in the late Asian trade.

Meanwhile, the markets too slumped below the 24,000-mark for the second consecutive day. Among the BSE sectoral and industry indices, energy fell by 1.96 per cent, followed by auto 1.86 per cent, oil&gas (1.54 pc), healthcare (1.53 pc), FMCG (1.41 pc), metal (1.24 pc) and capital goods (0.98 pc) while bankex rose by 1.34 per cent followed by finance (0.75 pc), IT 0.72 and teck (0.51 pc).

The market breadth turned positive as 1,328 shares ended higher, 1,261 closed lower while 182 ruled steady. The total turnover fell to Rs 3,007.27 crore from Rs 3,088.57 crore yesterday.

(With inputs from the PTI)