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Share Market Update: Rupee fall pulls Sensex 143 points; Nifty ends 10,200 below

The ongoing fall of Indian rupee which depreciated to 73.45 (intra-day) against the US dollar pulled BSE Sensex down 140 points during the afternoon session of the Friday trade.

Share Market Update: The ongoing fall of Indian rupee which depreciated to 73.45 (intra-day) against the US dollar pulled BSE Sensex down 140 points during the afternoon session of the Friday trade. Negative global cues and rupee depreciation made investors remain of the back foot amid a route in overseas markets and liquidity concerns. While auto and the telecom counters were the bright spot, heavy selling pressure was witnessed in IT, banking and TECK (technology, entertainment and media) stocks on the BSE. Speaking to news agency IANS, Anuj Gupta, Deputy Vice President - Research - Commodities and Forex, Angel Brooking said, “The weakness in the domestic markets can be attributed to the Asian markets, as all the major economies have huge debts and are facing heavy inflation along with currency depreciation.” He further said that the currency depreciation and high crude oil prices have impacted corporate earnings, which is evident in their balance sheet. India currency was trading at Rs 73.36 against the US dollar this afternoon and closed at Rs 73.28 while the benchmark brent crude was at $76.40 per barrel. Even the S&P BSE Sensex opened at 33,776.80 points from its previous close of 33,690.09 points and went at 33,545.60 points in afternoon trade witnessing a fall of 144.49 points or 0.43 per cent. It touched an intra-day high of 33,776.80 points and a low of 33,332.10 points. The NSE Nifty50 traded at 10,081.80 points during the afternoon trade session with a slip of 43.10 points or 0.43 per cent. Among the major losers was Yes Bank, which on Thursday reported a decline of 3.7 per cent in its net profit for the quarter ended September. The stocks of the private-sector bank traded over 6 per cent lower at Rs 185.75 apiece. ITC was trading over 2 per cent lower, at Rs 279.95 ahead of its Q2 results due later in the day.
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