Sensex falls more than 1 percent; rupee slumps

Sensex falls more than 1 percent; rupee slumps

Minutes into trading, it was quoting at 31,148.35 points, down by 11.46 points, or 0.04 percent. Sentiments suffered another setback amid expectations of a rate hike by the US Federal Reserve later this year, accelerating the pace of outflows by foreign investors, offsetting unabated buying by DIIs, brokers said.

The rupee came under further pressure on Thursday, hitting as low as 65.8950 per dollar, as the greenback strengthened after strong U.S. economic data added to the case for further interest rate hikes by the Federal Reserve.

The Sensex closed Thursday's volatile session 122.67 points or 0.39 per cent higher at 31,282.48 while the Nifty50 index settled 33.20 points higher at 9,768.95. On the other hand, consumer durables dropped 0.97 per cent, oil & gas 0.78 per cent, banking 0.72 per cent and infrastructure 0.31 per cent.

Financial stocks such as HDFC Bank Ltd and Kotak Mahindra Bank Ltd were among the top gainers, ending 1.06 percent and 2.62 percent higher, respectively. During the day, it also touched a high of 31,340.91.

Indian shares recovered on Thursday after declining for seven straight sessions, but overall sentiment was muted ahead of the expiry of derivative contracts later in the day and as the rupee continued to weaken against the dollar.

Читайте также: Trump defends his Puerto Rico response, promises visit

There were fresh records on Wall Street as global investors cheered United States president Donald Trump's tax reforms plan. The broader Nifty of the National Stock Exchange fell 135.75 points to close at 9,735.75.

The Sensex was down by 439.95 points or 1.39 percent at the Wednesday's closing.

On the sectoral front, the Nifty FMCG index fell 0.99 per cent to 24,480, while Nifty IT index slipped 0.44 per cent to 10,475.

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