INR hits fresh low against US Dollar - Standard Chartered Securities

In early trade, key benchmark indices edged lower in early trade on weak Asian stocks. The indices extended losses and hit fresh intraday low in early afternoon trade as Indian rupee (INR) touched record low against the US dollar (USD) and the concerns that passage of food security bill will weigh on the country's fiscal and current account deficit dampened sentiment.

Weakness prevailed in afternoon trade as European equity markets opened in the red.

The Markets plummeted to hit fresh intraday low in mid-afternoon trade as weakness in global stocks spoiled sentiment.

Sensex ended lower 590 points and Nifty closed 189 points in the red.

Small Cap Index and Mid Cap Index outperformed relative to the Sensex. Mid-Cap Index fell 2.1% and Small-Cap Index ended 1.7% lower.

Market breadth: Negative. Declines were 2.1 times Advances.

Source : Equity Bulls

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