Nifty 50, Sensex fail to hold gains; auto, FMCG stocks rise
The Nifty 50 closed 0.11% lower, settling at 23,727, while the Sensex ended with a minor 0.09% drop at 78,472.
The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.
The US Fed’s policy decision and commentary led to foreign investors heading to the exit door here.
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Month-end demand from importers for the US currency is at work, forex dealers said. The dollar’s gains against other currencies overseas put the squeeze on the local unit.
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Yesterday, the rupee plunged 27 paise to end at 65.72.
Meanwhile, the benchmark Sensex fell further by 44.27 points, or 0.14 per cent, to 31,115.54 in the opening trade today.
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