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 made a positive start on Thursday by firming up 10 paise to 64.45 against the Dollar, with domestic equities playing along.
According to forex dealers, fresh selling of the American currency by exporters and banks caused by its weakness overseas gave the Rupee strength.
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A higher opening in the domestic equity market only fuelled the uptrend.
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On 28 June, the Rupee had shed 2 paise to close at 64.55 against the greenback in limited trade on the back of stray dollar demand from importers.
In early trade on Thursday, the benchmark Sensex rose 159.85 points, or 0.51 per cent, to 30,994.17.
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