The Bombay Stock Exchange Sensex hit a 19-month low of 24,455.04 on Friday, declining 317.93 points, PTI reported. The drop has been attributed to the fall in the price of oil to $30 a barrel and muted earnings by some blue-chip stocks.

The National Stock Exchange Nifty also fell below the 7,500-mark, down 99 points to 7437.80, its lowest level since June 4, 2014. In addition, the value of the Indian rupee against the US dollar hit a 29-month low of 67.70 in intra-day trading.

While the Sensex dropped 1.92% over the week, the Nifty fell by 2.15%, a better performance than last week’s 4.68% and 4.54% decline, respectively. For most of the day, shares traded in the negative zone, but selling picked up pace in the latter half.

On Thursday, the rupee depreciated to a 28-month low of 67.20 against US dollar, a level it had last touched on September 4, 2013.