INSUBCONTINENT EXCLUSIVE:
MUMBAI: Stocks slumped to a six-month-low and the rupee sank below 74 after the Reserve Bank of India (RBI) kept interest rates unchanged,
The Sensex ended down 792.17 points, or 2.25%, at 34376.99, its biggest one-day drop in percentage terms since February this year
Since October 1, investor wealth worth ?8 lakh crore has been wiped out
The Sensex fell 6.6% during the week, its worst weekly performance since December 2016.
The rupee continued its southward journey, falling
to a fresh record low of 74.22 to a dollar
The benchmark government bond yield dipped 13 basis points to close at 8.03%
Bond yields and prices move in opposite directions
Short to medium term rates fell 10-40 basis points in the bond markets.
Fund managers do not expect the turbulence to subside if crude oil
been almost Rs 8,800 crore
In September, foreign investors sold shares worth ?9,600 crore.
Purchases worth ?17,500 crore by domestic institutions since September 1
have not helped matters.
The Sensex has fallen 11.8% from its record high of 38989.65 on August 29
The Nifty has fallen 12.3% from its peak of 11760.20, also hit in August
On Friday, ONGC, Reliance Industries, State Bank of India, Adani Ports and Bharti Airtel were the worst performers, falling 4.3-15.9%
Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation extended their freefall from Thursday and ended
down 16-25%.
Oil prices edged higher on Friday on concern that supply will continue to tighten ahead of imposition of US sanctions against
