Sensex, Nifty End At Over One-Month Low As Rupee Slide Continues
Indian equity benchmarks fell for second consecutive to their lowest level in over a month.
KEY HIGHLIGHTS
Closing Bell: Sensex Slumps Over 500 Points, Nifty Settles Below 11,300
Indian equity benchmarks fell for second consecutive day to their lowest level in over a month after rupee weakened to a new low against the U.S. dollar.
The Sensex fell 1.34 percent or 509 points to 37,413 and the Nifty 50 Index slumped 1.32 percent or 164 points to 11,287.
All 19 sector gauges compiled by BSE ended lower led by the S&P BSE Consumer Durables index's 2.5 percent drop.
The mid- and small-cap shares fell in line with their larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indexes fell 1.3 percent each.
Sensex Slumps Over 500 Points, Nifty Breaks 11,300
The Sensex slumped over 500 points and the Nifty 50 Index broke below important psychological level of 11,300 as heavyweights like HDFC Bank, ITC and Reliance Industries under heavy selling pressure.
ITC Struggles Amid Block Deal
- ITC has 13.1 lakh shares change hands in a block. Stock down 3 percent at Rs 297.
Buyers and sellers were not immediately known
Source: Bloomberg
Rupee Hits new Low Versus $
- Indian rupee fell 0.4 percent or 29 paise to new low of 72.74 per dollar.
HDFC Bank Falls Most In Three Months As Trading Volume Doubles
Shares of the country's largest private sector lender fell as much as 2.36 percent, the most in over three months, to Rs 1,993 on heavy trading volumes. Trading volume was 1.7 times its 20-day average.
On the Relative Strength Index (RSI), the stock fell to level of 28 indicating that it may be oversold.
A reading below 30 on the RSI indicates a stock may be oversold while above 70 indicates to be overbought.
