Nifty hits lowest level since Sep, 2012. Rupee at record low of 64.50 against the Dollar

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Nifty hits lowest level since Sep, 2012. Rupee at record low of 64.50 against the Dollar

This article was posted on Aug 21, 2013 and is filed under Market News

BSE Metal, FMCG, TECk, IT and Healthcare indices have slipped between 1-2%

Markets trading at day’s low with Nifty hitting the lowest level since September 11, 2012.

At 15:00 PM, 30-share Sensex was down 397 points to trade at 17,870 and the 50-share Nifty slipped 112 points at 5,289 levels.

FMCG, Meta, Oil & Gas are the worst hit sectors. Bharti Airtel, ITC, Sun Pharma and Sterlite have slumped between 5-6%

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Updated at 14:25

Markets have extended the losses significantly with Sensex breaking the psychological mark of 18,000.

Government bonds were headed for their biggest gain in at least 15 years, while the rupee remained under pressure on Wednesday after the Reserve Bank of India (RBI) said it will buy bonds to ease a cash crunch, and relaxed bond holding rules for lenders.

The rupee breached the 64 level again after recovering a bit in morning trade. At 2:20 pm, the rupee was trading at 64.09/dollar.

European shares hovered near three-week lows on Wednesday while the dollar found some support as investors braced for a U.S. Federal Reserve report which may shed light on when it will trim its stimulus policy.

For more visit: Business Standard

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