SENSEX CLOSES WEAK... ..

The weakness continued for the sixth consecutive session on rupee depreciation, asset quality concerns of banks, slower sales growth of FMCG companies and cut in FY14 GDP forecast by the RBI.

The BSE Sensex was down 2.64 points to close at 19345.70 after seeing a day’s low of 19126.82 today, but crashed nearly 1000 points in the last six sessions. The NSE Nifty slipped 13.05 points to finish at 5742 after hitting an intraday low of 5675.75.

Indian rupee approached a record low against the US dollar despite several measures the Reserve Bank of India had taken since July 15. The domestic currency touched an intraday low of 61.10, but recovered quite sharply in last hour of trade, gaining 8 paise to close at 60.40 per dollar.

Federal Reserve's two-day meeting outcome today will be the key for equity market and currency tomorrow.

Posted in: Indian Market Tips