Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
The rupee strengthened 19 paise to 64.89 against the US dollar today, buoyed by a set of positive economic data.
Industrial production expanded to a 9-month high of 4.3 per cent in August while retail inflation was stagnant at 3.28 per cent in September compared to the previous month.
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A stronger opening in domestic stocks and the dollar’s reduced strength against some currencies overseas kept the rupee on a firm ground, traders said. But continuous outflow of foreign money kept the upmove in check.
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Yesterday, the rupee had appreciated by another 6 paise to end at a fresh one-week high of 65.08 on continued selling of the greenback.
The benchmark Sensex was trading higher by 211.04 points, or 0.66 per cent, at 32,393.26 in early session today.
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