After positive opening, rupee hits record low of 72.73, markets close in red

After a positive opening on Tuesday, rupee slumped again in the afternoon trade reaching a record low of72.73 against the US dollar.

The Indian currency had inched 15 paise higher at 72.30 against the dollar on Tuesday morning amid increased selling by banks and exporters.

At 9.10am, the rupee was trading at 72.42 a dollar, up 0.02 per cent from its Monday’s close of 72.45.

The home currency opened at 72.30 per dollar and touched a high and a low of 72.28 and 72.44, respectively.

The rupee on Monday slumped to anew record low of 72.67 a dollar in intra-day trade before closing at 72.45, showing a steep 72 paise fall on growing fears of contagion from an emerging-market rout and escalation of aglobal trade war.

Meanwhile, the markets loomed in red today afternoon asSensex traded at 37,417.41 while Nifty hovered at 11,289.00.

Market benchmark BSE Sensex crashed 509 points to close at more than one-month low of 37,413.13 due to heavy losses in metal, auto and financial stocks as investors fretted over heightened global trade war concerns.

The 50-share NSE Nifty cracked below the 11,300-mark by falling 150.60 points or 1.32 per cent at 11,287.50. Intra-day, it shuttled between 11,479.40 and 11,274.

The BSE benchmark Sensex Tuesday rose 95 points, but soon turned choppy on weak global cues amid lingering global trade war concerns.

The 30-share index opened higher by 95.32 points, or 0.25 per cent, at 38,017.49. It, however, turned choppy and was trading 8 paise, or 0.02 per cent, higher at 37,930.97 at 9.30 am. The gauge had lost 467.65 points in the previous session.

Nifty bounced by 30.30 points, or 0.26 per cent, at 11,468.40 in opening trade, only to turn flat within the first 15 minutes of the session.

(With inputs from PTI)