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 on Tuesday climbed a bit to 64.17 against the dollar as the dust settled on the political landscape in Gujarat and Himachal Pradesh and the BJP gets ready to form the next government in both states.
The BJP returns to power for the sixth straight term in Gujarat and unseats the Congress in Himachal Pradesh.
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In the opening session, the domestic currency bounced 7 paise to 64.17 against the dollar. On Monday, it had lost 20 paise to 64.24.
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Meanwhile, the benchmark Sensex got off to a good start, jumping 143.22 points, or 0.42 per cent, to 33,744.90 today.
Fresh selling of the American currency by exporters and banks amid a higher opening in domestic equities helped.
The dollar got steady overseas on optimism of the Senate passing the US tax reforms Bill.
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