Rupee at 10-month low adds to selling pressure in stock market
रुपया 10 महीने के निचले स्तर पर, शेयर बाजार पर बिकवाली का दबाव
The rupee hit a 10-month low of 83.14, adding to the negative sentiment in equity markets, while outflows by FIIs of about Rs 10,000 crore also led to selling at higher levels in August so far. This was stated by Siddharth Khemka, head of retail research at Motilal Oswal Financial Services.
Domestic equity markets were under pressure amid weak global cues. While the Nifty opened lower and remained in negative territory throughout the session and closed at 19,365, down 100 points (-0.5 per cent), the Sensex closed at 65,151.02, down 388.40 points or 0.59 per cent.
However, the action shifted to the broader market with Nifty Midcap 100 rising 0.2 per cent and Nifty Smallcap 100 up 0.1 per cent. Barring PSU banks and consumer durables, all sectors closed in the red. Khemka said Indian equities succumbed to global volatility after the sharp turn of the FOMC minutes meeting and Fitch raising concerns over the risk of China’s sovereign credit rating downgrade.
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