Dalal Street witnessed the blood bath as Indian equity benchmark indices dove over 3% in intraday trade today. The crash in the Rupee against US Dollar sent the shivering through the spine of stock markets. The BSE Sensex plunged over 600 points and ended below the key 18,000 mark at 17,968.08 whereas the Nifty ended at 5,287.45 levels, down by 190 points.
The rupee fell around 2.8 per cent as compared to Monday's close of 64.30. It made a new low at 66.08 surpassing previous record low of 65.56 hit just last week. The rupee posted its biggest single-day decline in 23 months led by strong month-end dollar demand from importers.
Technology stocks remained on buyers' radar as the rupee depreciation will help these IT software services exporters to report better earnings in Q2.
Passage of Food Security Bill was another big overhang on markets and rupee, as most analysts feel that it will have negative impact on fiscal deficit number.
Among the sectoral indices, CNX Finance (-6.06%), Bank Nifty (-5.37%), CNX Infra (-4.73%) and CNX Realty (-4.28%) were top laggards while CNX IT (0.22%) was only gainer of the day.
Out of 50 stocks of Nifty 3 stocks ended in positive terrain while 47 stocks ended in negative territory.
Top Nifty gainers: Infosys (1.03%), Dr. Reddy (0.98%) and HCL (0.05%) were only gainers of the day.
Top Nifty losers: IDFC (-16.15%), BHEL (-10.65%), IndusInd Bank (-8.69%), JP Associate (-8.68%) and HDFC Bank (-7.44%) were top index losers.
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