Sensex under pressure as rupee hits 2-month low; Pharma up 3%

Equity benchmarks continued to trade with moderate losses in afternoon, weighed by banks, auto, oil and FMCG stocks.

The sharp depreciation in rupee caused selling pressure in the equity market after Federal Reserve hinted further rate hike by December and announced plan to wind down its crisis-era stimulus.

The 30-share BSE Sensex was down 81.23 points at 32,319.28 and the 50-share NSE Nifty declined 31.90 points to 10,109.25.

About 1,566 shares declined against 833 advancing shares on the BSE.

All sectoral indices barring Pharma were trading in red. Nifty Bank, Auto, FMCG and Metal indices slipped 0.5-1 percent while Pharma surged 3 percent.

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Posted in: Indian Market Tips