Weak Rupee pulls down Indian Markets further - Microsec

Indian markets ended sharply lower on Monday on the back of weak rupee. Rupee has recorded a fresh low against US dollar, which raised concern over possibility of more measures from the RBI to bring stability in the Forex market. Banking, auto and healthcare stocks led the decline.

Nifty closed at 5414.75 down by 93.10 points or 1.69% over the previous day closing of 5507.85 after witnessing a low of 5360.65 and a high of 5499.65. Sensex closed at 18307.52 down by 290.66 points or 1.56% over the previous day closing of 18598.18.It touched an intraday low of 18139.15 and high of 18587.38.

The markets' breadth was negative. Out of 2429 stocks traded 886 stocks advanced, 1401 stocks declined and 142 stocks remained unchanged. In Sensex, Out of 30 stocks 06 stocks advanced and 24 stocks declined.

Among the sectors, BSE Bankex, BSE Auto and BSE Healthcare were the main losers of the day which decreased by 3.40%, 3.13% and 2.49% respectively.

In BSE Bankex Axis Bank, Yes Bank and Canara Bank decreased by 6.46%,6.45% and 6.25% respectively. In BSE Auto sector Bajaj Auto, Tata Motors and M&M declined by 4.55% 3.77% and 3.51% respectively. In BSE Healthcare sector Apollo Hosp , S u n Pharma and Divis Lab Ltd decreased by 6.87% 4.05% and 3.91% respectively.

Source : Equity Bulls

Keywords