Sensex slumps 450 points on Tuesday - LuvKush Finserve

The Sensex slumped 450 points on Tuesday, amid a weakening rupee, weighed down by financials on concerns that the RBI would announce fresh measures to cap liquidity in an effort to prevent further weakness in the rupee. The Sensex ended down 449 points at 18,733 and the Nifty ended down 143 points at 5,542.

The rupee was down 42 paise at Rs 61.30. The recent measures by the RBI one would think were enough to contain the falling rupee but the plunge has only gotten deeper. Meanwhile, the finance ministry and the Reserve Bank of India (RBI) will discuss possible measures to manage the situation.

The BSE Consumer Durables index was the top loser among the sector indices down 5.6% followed by Realty, Bankex, Metal, Capital Goods, Oil and Gas, Power, FMCG and Healthcare indices down 1-4.6% each.

Financials shares witnessed selling pressure on concerns that the central bank may impose fresh liquidity measures to stem the fall in the rupee. HDFC Bank and ICICI Bank were among the top Sensex losers which ended down over 4% each while HDFC ended down 5.9%. SBI eased 2.5%.

Bajaj Auto ended down 3.5% amid the ongoing workers' strike at its Pune plant. The BSE Mid-cap and Small-Cap indices were down 1.8-2.6% each.

Source : Equity Bulls

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