Sensex Ends Lower As Rupee Plunges To Record Lows

Benchmark indices ended the day lower, as the rupee plunged against the US dollar.

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Benchmark indices ended the day lower, as the rupee hit a record low of 68.86 against the US dollar. Sentiments were poor throughout the session with the Nifty losing 77 points at one stage.

Sensex Ends Lower As Rupee Plunges To Record Lows
It was also the last day of expiry for the F&O session for the November series. The markets have recovered a tad bit in the last two trading sessions, however, what was worrying is the huge selling pressure by foreign funds. Domestic institutions have been supporting the markets or we would have seen a further slide in the markets. The Sensex ended trade lower by 191 points, while the Nifty dropped 68 points in trade.

Metal stocks continued to power ahead despite the fall in the markets with Vedanta and Hindalco among the gainers in trade. Software stocks which have been hammered in the last few months, saw some good buying support, thanks to a sharp drop in the rupee. Infosys, Wipro and TCS, the biggies saw smart gains in trade.

Among the notable losers in trade were Tata Motors, which slipped as much as 3 per cent, while other losers were NTPC, ICICI Bank and Reliance Industries. Private sector banking shares were the worst hit today with Axis Bank and HDFC Bank among the other losers.
Meanwhile, European markets were seen trading steady, with the German DAX marginally higher, while the FTSE was seeing some losses in trade.

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Read more about: rupee, dollar, sensex
Story first published: Thursday, November 24, 2016, 14:42 [IST]
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