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Markets Lose Ground Again; Rupee Nears Rs 73
Benchmark indices lost ground in trade once again, as the rupee edged closer to the 73 levels mark against the dollar and crude prices jumped in trade.
The Sensex was trading with losses of 109 points, while the Nifty was down 38 points in trade, as investors once again turned jittery, due to the falling rupee and rising crude prices.
Shares in housing finance companies continued to face the brunt of investors with India Bulls Housing Finance dropping a huge 7 per cent in trade, while Dewan Housing was down 10 per cent in trade.
HDFC, which plunged in trade on Monday saw some buying support and was trading with gains. Reliance Industries and Infosys continued to lead gainers for the second day in a row.
Shares in Yes Bank were trading with gains ahead of the board meeting of the bank to decide on the action to be taken on appointment of a CEO at the bank. The CEO and co-founder of the bank will retire on Jan 31, 2018.
Meanwhile, most Asian markets were subdued, following poor cues from across the US. Most analysts are of the opinion that the markets could see some short covering bounce ahead of the expiry on Thursday.
