Rupee breaches 73 mark against dollar before recovering marginally, Sensex and Nifty lose nearly 1%
Speculation ahead of the release of October inflation data reportedly made investors cautious.
The rupee breached the 73 mark against the United States dollar on Monday but closed 38 paise down at 72.87 as increasing prices of crude oil raised the demand for the American currency. The domestic indices reversed their early gains and closed lower.
Speculation ahead of the release of October’s inflation data made investors cautious, Reuters reported.
The BSE Sensex closed at 34,812.99 – down 345.56 points or 0.98% – while the NSE Nifty 50 closed 0.97%, or 103 points, lower at 10,482.20. Earlier in the day, the Nifty 50 had crossed the 10,600 mark.
The top gainers on the Sensex were Tata Steel, Kotak Mahindra Bank, Infosys, Tata Consultancy Services and Larsen and Toubro, while the stocks that lost the most were Tata Motors, Hero MotoCorp, Power Grid Corporation of India, Maruti Suzuki India and Adani Ports.
On the Nifty50, the top gainers were Titan, Tech Mahindra, Tata Steel, Kotak Bank and HCL Technologies. Stock of Hindustan Petroleum, Tata Motors, Indian Oil Corporation, Hero MotpCorp and Hindalco Industries performed poorly.