Markets close in red; rupee hits new closing low of 72.45
The Sensex on Monday morning started at 38,348, dipping by 41 points or 0.11 per cent, while the Nifty 50 shed nearly 19 points, or 0.16 per cent, to trade at 11,570.
Sensex tanked 467.65 points or 1.22 per cent on Monday as markets closed, ending at 37,922.17. Nifty, on the other hand, plunged 151 points to close below 11,500 level.
In opening trade, BSE Sensex and NSE’s Nifty 50 declined on Monday, tracking losses in global markets.
The Sensex on Monday morning started at 38,348, dipping by 41 points or 0.11 per cent, while the Nifty 50 shed nearly 19 points, or 0.16 per cent, to trade at 11,570.
Indices further fell in the initial trade with Sensex dipping over 100 points and the Nifty 50 slipping lower by over 33 points and turned volatile.
In tandem with stock markets, the rupee too continued its weakness and depreciated to a fresh record low of 72.67 (intra-day) against the dollar at the interbank foreign exchange market.
The national currency weakened further against the US dollar after India’s current account deficit widened to a four-quarter high due to rising crude oil prices.
The national currency on Monday closed at a life-low of 72.45 against the US dollar.
It finished the day 72 paise lower against the American currency - its biggest one-day crash since August 13.
(With inputs from agencies)