Sensex, Nifty continue to struggle; rupee weakens to 64/USD

The market continues to be under pressure as bank, pharma and oil stocks fall sharply. The Sensex is down 81.22 points at 26636.15 and the Nifty is down 29.90 points at 8067.10. About 792 shares have advanced, 1621 shares declined, and 135 shares are unchanged.

The Indian currency has weakened to 64 per dollar. The rupee fell to its lowest in 20 months on Thursday, weighed down by concerns over the government’s taxation policies that threaten to reduce the allure of local assets for foreign institutions, while a global debt sell-off also hurt.

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Posted in: Indian Market Tips