NEW DELHI: Equity investors received a jolt on Monday as the benchmark indices plunged in mid-day trading followed by the
rupee sinking below the crucial 72.50-mark against US dollar for first time.
The 30-share BSE
Sensex shed 419.64 points to hit the intra-day low of 37,970.18 in the afternoon session. At 12.40 pm, the index was down a per cent and testing the psychological 38,000-mark.
The broader 50-share NSE
Nifty too dipped below the key mark of 11,500, losing more than a per cent.
On Monday, the Indian currency continued its free fall hitting a new low of 72.67, losing 94 paise from the previous closing, due to a strengthening dollar and widening trade deficit.
India's current account deficit (CAD) widened to $15.8 billion in April-June in value terms this year as against $15 billion in the same quarter of 2017-18, mainly due to a higher trade deficit, according to RBI data released Friday.
Domestic macro situation and dollar's strength amid fear of currency crisis continued to spook the rupee, a dealer said.
Global market sentiments also turned weak after US President
Donald Trump on Friday threatened tariffs on a further $267 billion worth of Chinese imports. While, Beijing warned of retaliation if the US goes ahead with any new measures.
In the afternoon trading, heavy selling was witnessed in FMCG, telecom, consumer durables, finance, oil and gas, realty, power, metals, banks, energy, auto and utilities sectors.
Major losers were SBI, IndusInd Bank, Vedanta, Kotak Bank, Sun Pharma, RIL and HDFC falling up to 2.52 per cent.
While,
Wipro, NTPC, Axis Bank and Adani Ports bucked weak market trend, gaining up to 0.79 per cent.
(With agency inputs)
