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Sensex falls 300 points on weak global cues
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SME Times News Bureau | 20 Nov, 2018
India's benchmark stock indices followed their Asian peers lower on
Tuesday, after an overnight slump on the Wall Street led by technology
stocks.
The S&P BSE Sensex fell 300 points while the broader Nifty settled below the 10,700-mark.
"With
regard to the RBI board meeting, the market drew relief from the fact
that the stand-off between the government did not escalate. However, it
was more or less a status quo, damping sentiments," said Astha Jain, a
senior analyst at Hem Securities.
All the 19 sectors on the BSE
came under heavy selling pressure. The metal counters fell over 2 per
cent, while healthcare, IT and TECK (technology, entertainment and
media) declined over 1 per cent each.
The Sensex settled down 300.37 points or 0.84 per cent at 35,474.51, from its previous close of 35,774.88.
The Nifty50 lost 107.20 points or 1 per cent to finish at 10,656.20.
The
Indian rupee jumped for a second day in a row against the dollar. It
was last traded at 71.45 per dollar, 19 paise higher from the previous
close of 71.64.
The benchmark Brent Crude prices also eased to $66.36 per barrel.
According
to analysts, the rupee's recovery was in line with the gains across the
emerging-market currencies, which likely bottomed out on November 13.
"Some
investors were betting that the rate-hike cycle by the US Federal
Reserve was petering out and hence the main reason for the weakening of
the emerging market currencies may no longer be valid," said Deepak
Jasani, Retail Research Head, HDFC Securities.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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