INSUBCONTINENT EXCLUSIVE:
The rupee also collapsed to a lifetime low of 70.52 by plunging 42 paise against the US dollar.After registering record highs for two
consecutive sessions, domestic markets closed in the red on Wednesday
BSE benchmark index Sensex fell 173.70 points, or 0.45 per cent, to close at 38,722.93, while the broader NSE Nifty50 shed 46.60 points to
The fall was led by energy stocks on both the indices
Top laggards on the Nifty50 were Coal India, Reliance Industries and Power Grid Corporation, finishing with losses of around 2-3 per
cent."Market gave up some gains due to a weak rupee and profit booking ahead of FO expiry tomorrow," Vinod Nair, Head of Research, Geojit
Financial Services Ltd said.However, gains in PSU banking and metal stocks limited the downside.The Nifty PSU Bank index gained 1.6 per
cent, which was led by Bank of Baroda; and the Nifty Metal closed 1.3 per cent higher
The gains were led by JSW Steel which jumped 8.6 per cent to close at Rs 397.80.Nifty Energy, a sectoral index on the NSE, closed 1.1 per
respectively.Sentiment also took a hit after rating agency Moody's Investors Service today said there are risks of India breaching the 3.3
per cent fiscal deficit target for the current financial year as higher oil prices will add to short-term fiscal pressures, brokers said.On
a net basis, foreign funds sold shares worth Rs 161.05 crore, while domestic institutional investors offloaded shares to the tune of Rs
199.28 crore yesterday, provisional data from the NSE showed.Meanwhile, the rupee plunged to a lifetime low of 70.58 against the US dollar
