Sensex crashes 769 pts; Rupee at record low
It was bloodbath in markets on Friday with Sensex crashing 769.41 points, the biggest fall in 4 years, to end at 18,598 on fresh concerns about US stimulus withdrawal and rupee plunging to record low of 62, draining investor wealth by Rs 2 lakh crore.
Rupee also hit record low of 62.03 against dollar on heavy US currency demand supported by growing expectations that Fed may withdraw its bond buying programme by the end of this month amid growing signs of recovery in US Job market.
After gaining 703 points in the last four sessions, the Sensex plunged 769.41 points, or 3.97 percent, to 18,598.18 on all-round selling. Consumer durables, realty, banks and metal sector took major beating.
The broad-based National Stock Exchange index Nifty nosedived by 234.45 points, or 4.08 percent to 5,507.83, after touching day`s low of 5,496.05. Also, SX40 index, the flagship index of MCX-SX, closed at 11,083.52, down 428.63 points or 3.72 percent.
Previously, rupee had hit all-time low of 61.80 on August 6.
The rupee had lost 24 paise to close at an all-time low of 61.43 against he US currency in the previous session on Wednesday after July inflation rose to a five-month high. Forex market remained closed yesterday on account of Independence Day.